EU energy ministers arrive for meeting on energy prices

European Union energy ministers arrived for a meeting in Brussels on Friday to adopt a package of measures including a windfall levy on profits by fossil fuel companies, but a deal on capping gas prices remained off the table. EU member countries have been negotiating proposals from the European Commission that the bloc's executive arm said could help raise $140 billion to help people and businesses hit by the crunch.

Several diplomats, who spoke ahead of Friday's meeting, expressed confidence a deal will be approved on a levy on surplus profits made in 2022 by companies producing or refining oil, gas and coal. Under the deal, these companies will be asked to give back a share of their profits above the average of the past four years, according to officials at France's energy ministry.