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Europe Daily Bulletin No. 8764

7 August 2004
GENERAL NEWS / (eu) eu/oil
With oil prices surging, Loyola de Palacio recalls need for concerted European approach relating to security of energy supplies - Commission develops market and price observation system

Brussels, 06/08/2004 (Agence Europe) - With the historic surge in oil prices on world markets, which have reached a peak since the authorisation granted to the Russian oil group, Ioukos, to use its bank accounts was cancelled, Energy Commissioner Loyola de Palacio called on Thursday for the adoption of a "proactive and concerted European policy on the security of energy supplies". The Commissioner considers dialogue should be strengthened between producer and consumer countries and that a...

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