In administration is the parent company of Prax, which owns UK's Lindsey refinery.
Teneo Management Consulting said that State Oil Limited (parent company of Lindsey Oil Refinery) has been placed under administration and insolvency proceedings by the British High Court. State Oil is owned by Prax Group, which also owns the Lindsey Refinery. Teneo announced on Monday that it has been appointed administrator of State Oil.
Germany's LEAG suspends H2UB green hydrogen plan
Energy firm LEAG announced on Friday that plans to build Europe's biggest green energy hub on the site disused coal-fired plant units in east Germany had been put on hold indefinitely. The announcement comes just a week after ArcelorMittal canceled plans to convert to carbon-neutral steel production two German steel mills, citing high costs of energy.
UK Issues Environmental Guidance on New North Sea Oil and Gas Drilling
The UK published long-awaited guidance on environmental issues that will impact future developments of two North Sea oil and natural gas fields, including Shell and Equinor. The guidelines explain how future government decisions on extraction should treat greenhouse gas emissions from oil and gas, also known as downstream emissions or Scope 3.
World Bank will end nuclear energy ban, but still debate upstream gas
Ajay Banaga, president of the World Bank, said that its board had agreed to lift a ban on financing nuclear energy projects for developing countries. This is part of an effort to meet the growing demand for electricity. Banga sent an email outlining the bank's new energy strategy to its staff following what he described as a constructive meeting with the board.
The report of defects in the French nuclear reactor Civaux 2, lifts European energy market
On Wednesday, the price of front-year baseload contracts in France increased by 8.3% to 68 Euros ($77.76). This was due to a possible report that stress corrosion may have returned at a central France nuclear reactor. The contract reached a new four-month high. The French newspaper La Tribune reported on Tuesday that the nuclear watchdog ASNR found "hints" of stress-corrosion at the Civaux 2 plant run by EDF…
Industry warns that high energy costs are a threat to the future of UK manufacturing
Make UK, an industry group, said that Britain must reduce its industrial energy bills which are among the highest in advanced economies to achieve its goal of a healthy manufacturing sector. The government of Keir starmer is developing an industrial strategy that will put British manufacturing, which has been hit by Brexit and soaring energy prices as well as global trade wars, on a firm footing in the coming years.
Even after Trump's reprieved, the EU is still trying to reach a trade agreement with Trump
It is unclear how the European Union will reconcile its desire for a trade agreement that benefits both sides with Washington's demand for large concessions. After a phone call with European Commission president Ursula von der Leyen on June 1, Trump decided to back away from the imposition of levies against EU imports. This restored a deadline of July 9 to allow negotiations between the U.S.
EU waits for clarity on Trump's threat to impose a 50% tariff
The European Commission has sought clarification from the United States following Donald Trump's Friday recommendation to impose a 50% tariff for EU imports starting June 1. Washington and Brussels are due to meet later. The Commission, the body that oversees the trade policy of the 27-nation European Union said it wouldn't comment on…
Imports of German spot are expected to increase on Thursday
On Wednesday, the German spot electricity rate for Thursday increased as renewable supplies were seen to be decreasing and imports expected. Meanwhile, neighbouring countries celebrated Victory Day. German baseload day-ahead added 1.3%, to 97.75 Euros per Megawatt Hour (MWh), by 840 GMT. The French baseload for Friday, which was the first working day following the Victory Day holiday weekend…
Upgrades to the EU's power grid are needed at a cost of trillions of dollars in order to avoid blackouts similar to those that occurred in Spain
To cope with the increasing demand for electricity, and the growing green energy production in Europe, and to prevent blackouts, trillions of dollars will be needed to invest. Spain and Portugal experienced their worst power outages in a week. Analysts and industry representatives believe that infrastructure investment will be essential, regardless of the results. Authorities are currently investigating the cause.
Upgrades to the EU's power grid are needed at a cost of trillions of dollars in order to avoid blackouts similar to those that occurred in Spain
To cope with the increasing demand for electricity, and the growing green energy production in Europe, and to prevent blackouts, trillions of dollars will be needed to invest. Spain and Portugal experienced their worst power outages in a week. Analysts and industry representatives believe that infrastructure investment will be essential, regardless of the results. Authorities are currently investigating the cause.
Government committee calls for India to accelerate nuclear power projects
According to a meeting of India's Power Ministry advisory committee held on Monday, the country must speed up nuclear project execution, raise awareness about their safety, and create a strong vendor list. India announced in early February that it would amend its nuclear liability laws to encourage foreign and private investment. The aim is to increase the nuclear capacity from 9 GW to 100 GW or more by 2047.
US wants to increase offshore oil drilling through easing of pressure rules
The U.S. Interior Department announced on Thursday that it had implemented new guidelines regarding pressure differentials allowed in certain types of oil drilling, in part of Gulf of Mexico. The department expects the changes to boost U.S. output of oil. The Energy Dominance Council, led by Doug Burgum, Interior Secretary to President Donald Trump…
Trump's order to stop NY wind project shocks offshore industry and threatens other projects
The Trump administration’s decision late Wednesday to halt the construction of Equinor’s Empire Wind 1 off the coasts of New York sent shockwaves throughout the offshore wind industry. It raised concerns that fully permitted developments worth billions of dollars are not secure. Donald Trump, the U.S. president, had promised during his campaign to put an end to offshore wind energy.
Trump's order to stop NY wind project shocks offshore industry and threatens other projects
The Trump administration's late Wednesday decision to stop construction of Equinor’s Empire Wind 1 off the coasts of New York sent shockwaves throughout the offshore wind industry. It raised concerns that developments with full permits, representing billions of dollars in investment, aren't secure. Donald Trump, the U.S. president, had promised during his campaign to put an end to offshore wind energy.
Sources say that more than 2,600 US Energy Dept employees accepted a second resignation offer.
Two sources confirmed on Thursday that more than 2,600 U.S. Department of Energy employees have accepted the second round of resignations offered by the Trump administration. The hardest hit offices were those dealing with power grid stability, and those who provide loans for high-tech projects. According to a document reviewed by, the…
US Energy Dept identifies thousands at risk of DOGE reductions, reports AP
A report by the Associated Press on Friday said that the U.S. Energy Department had identified thousands of employees it deemed non-essential. This includes staff at its office which manages America's nuclear arsenal. These workers would not be protected during a second round. It reported that more than 8,500 employees across the department…
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. Alstom, a French train manufacturer, announced on Tuesday that it had received 2.4 million euro ($1.08m) in public funding as part of the France 2030 plan to speed up the development of an intelligent train safety platform.
TotalEnergies is facing a French manslaughter investigation over an attack in Mozambique
TotalEnergies said that French prosecutors opened an investigation against it over a potential manslaughter, and for failing to help people in danger in a Mozambique jihadist attack. The energy company reiterated its denial of any wrongdoing. In March 2021, islamist insurgents attacked Palma, a port city in Spain, and killed many civilians near TotalEnergies-owned gas infrastructure projects in Mozambique.
CERAWEEK - Small nuclear power struggles on the cusp of US electric demand boom
Small modular nuclear reactors are touted by everyone from the U.S. Energy Secretary to Big Tech as the answer to the booming demand for power. However, the technology has struggled to reach commercialization due to cost and regulatory obstacles. The artificial intelligence industry, which is powered by energy-hungry data centres, will likely increase electricity consumption in the United States.
