Austria

OMV has actually gotten an arbitral award of over 230 million euros ($ 243.06 million) from the International Chamber of Commerce (ICC) in connection with irregular German gas products from Gazprom, the Austrian oil and gas group stated on Wednesday. The award, consisting of interest and costs, would positively contribute to its financial losses sustained in 2022, the business stated in a declaration. The oil and gas group anticipates a worsening of its contract with Gazprom Export, a subsidiary of the Russian gas giant, perhaps resulting in a halt of gas supply. The business validated it will balance out claims...

Stateowned Abu Dhabi National Oil Co, or ADNOC, has been pursuing a series of merger and acquisition deals with European business, with an aim to diversify and develop its chemicals and renewable resource operations. Here are the offers and talks ADNOC is associated with: COVESTRO ADNOC stated on Oct. 1 it had actually accepted buy German chemicals manufacturer Covestro for 14.7 billion euros ($ 16.34 billion), one of the most significant foreign takeovers by a Gulf state which is aimed at diluting the nation's heavy reliance on oil in the energy shift. OMV Austrian oil and gas business OMV has...

Austrian oil and gas group OMV reported a secondquarter changed operating result listed below expectations on Wednesday, weighed down by a lower earnings in its energy company. The Vienna-based business said its operating earnings, adjusted to get rid of one-off impacts and inventory gains or losses, rose 4%. to 1.23 billion euros ($ 1.33 billion) in the quarter, 4.5% below. the typical price quote of 1.29 billion euros in a company-provided. survey of experts. OMV warned earlier this month that the energy department, its. greatest by revenues, had actually been struck by legislative changes in. Romania throughout the second quarter....

Stateowned Abu Dhabi National Oil Co, or ADNOC, has been pursuing a series of merger and acquisition deals with European business, with a goal to diversify and develop its chemicals and renewable energy operations. Here are the offers and talks ADNOC is associated with: COVESTRO German chemicals firm Covestro said on Monday it had given ADNOC access to its books and was stepping up talks based on an enhanced 11.7 billion euro ($ 12.55 billion) takeover offer, after more than a year of courtship by the Emirati company. OMV Austrian oil and gas company OMV has remained in talks over...

Uniper this week won a $14 billion arbitration versus Gazprom about suspended gas deliveries given that 2022, a success for the German utility that was bailed out throughout Europe's energy crisis after the Russian firm business stopped materials. Below are some of the most important questions on the legal ramifications following the ruling, which was made by an arbitration tribunal in Stockholm on June 7. WHAT HELD TRUE ABOUT? For years, Russia provided Germany dependably with gas. This concerned an abrupt halt in 2022 following Moscow's intrusion of Ukraine, when Gazprom initially cut and later on suspended shipments to Uniper,...

Austrian energy group OMV raised its 2030 revenues and cashflow assistance during its capital markets day on Thursday, mentioning a more favorable market environment for oil, gas and refining margins. OMV is now targeting a tidy CCS operating result, which leaves out one-off products along with short-term energy inventory holding gains and losses, of a minimum of 6.5 billion euros ($ 7.03. billion) by 2030, compared to a goal of 6 billion euros. formerly. It also raised its projection for operating cash flow to at. least 7.5 billion euros, up from 7 billion euros previously,. partly assisted by a performance...

A Russian court has actually relieved constraints imposed on UniCredit in a suit over an aborted gas task, on Friday allowing the Italian lender to offer Russian sovereign bond holdings as security instead of other possessions and property. The St Petersburg arbitration court ruled in mid May that 462.7 million euros ($ 503 million) in securities, property and accounts coming from UniCredit, along with 100% of shares in UniCredit Leasing and UniCredit Garant, be seized. UniCredit Leasing and UniCredit Garant are subsidiaries of AO UniCredit Bank, the Italian group's Russian arm. UniCredit stated earlier in May that the seizure impacted...

LONDON, May 28 - Dutch and British wholesale gas rates mostly decreased on Tuesday early morning on higher Norwegian exports and above-normal wind power output. The benchmark front-month contract at the Dutch TTF center was down 1.43 euros at 33.80 euros per megawatt hour (MWh) at 0755 GMT, according to LSEG information. The July agreement was down 1.00 euro at 34.10 euros/MWh, while the British month-ahead agreement inched down by 0.45 pence to 81.60 cent per therm. Circulations from Norway are rebounding following outages and the existing upkeep schedule from the start of June will have a. negligible impact from...

Italian gas grid supplier Snam is taking a look at green fuel opportunities, its chief executive informed on Thursday after the group raised its assistance for 2024 monetary results. The 15-billion euro group - which has Europe's largest gas transmission network and handles both storage possessions and melted gas terminals in Italy - is leading a European task to develop a pipeline for green hydrogen. It is also working with Eni on a pilot project to deal carbon capture, transport and storage services in Italy and, independently, supports the production of green gases. In February Snam began sounding out the...

The following bids, mergers, acquisitions and disposals were reported by 1930 GMT on Thursday: ** Commodities group Glencore is studying an method for Anglo American, two sources stated, a. advancement that could stimulate a bidding war for the 107-year old. mining business. ** U.S. personal equity firm Bain Capital is taking a look at. purchasing some essential assets of French tech and software application company Atos. , reported French paper Les Echos on its site,. pointing out sources. ** Pakistan will press back the deadline for business to. express interest in purchasing nationwide carrier Pakistan. International Airlines to May 18,...

Austrian oil & & gas group OMV has started arbitration procedures against the Russian energy group Gazprom, worrying to name a few matters its stake in a Russian gas field, President Officer Alfred Stern said in an interview with Austrian press firm APA on Tuesday. OMV's 25% stake in the Russian natural gas field of Yuzhno-Russkoye was nationalised by Russian President Vladimir Putin's decree in late 2023, something that Austria's partly state-owned firm now wants to challenge in an international court. Kremlin-controlled energy giant Gazprom, which co-owns the gas field, in return has actually submitted claims in a Russian court...

Austrian oil and gas group OMV on Tuesday stated average understood costs for energy declined over the very first three months of the year, tracking a. 3.4% quarterly drop in the typical understood price of crude. Compared to (the fourth quarter of 2023), retail and. industrial margins decreased significantly, OMV said in a. first-quarter trading upgrade. The average realised rate for natural gas fell by 18.3% to. 21.9 euros per MWh, it added. OMV's European refining reference margin was 8.5% greater on. a quarterly basis but down 27.34% year-on-year. Petrochemical margins were mixed, with ethylene and. propylene indicators falling by...

Russia on Wednesday implicated the Ukrainian militaries of attacking an automobile utilized to transport specialists from the International Atomic Energy Company (IAEA) on Dec. 10, stating someone could have been killed. IAEA Director General Rafael Grossi stated on the day of the occurrence that a drone had actually hit and significantly harmed an official automobile of the agency on the roadway to Ukraine's. Russian-controlled Zaporizhzhia nuclear reactor on Tuesday,. but that there had been no casualties. Ukrainian President Volodymyr Zelenskiy said at the time. that the strike was a purposeful Russian attack that revealed. Moscow had total disregard for worldwide...

Iran is drastically. accelerating its enrichment of uranium to as much as 60% pureness,. near the roughly 90% level that is weapons grade, U.N. nuclear guard dog chief Rafael Grossi informed Reuters on Friday. The International Atomic Energy Firm later validated in a. private report to member states that Iran was accelerating. uranium enrichment, a process that refines the raw material so. that it can be utilized as fuel in civil nuclear power generation. or, potentially, nuclear weapons. The IAEA findings will deepen alarm in Western nations. that say there is no reason for enhancing uranium to such. a high...

Iran is significantly. increasing the quantity of uranium enriched to up to 60% pureness,. near the approximately 90% of weapons grade, that it has the ability to. produce, the watchdog's chief Rafael Grossi told Reuters in an. interview. The move is particular to trigger even greater alarm in Western. capitals currently arguing that there is no civil justification. for Iran's enrichment to that level as no other country has actually done. so without producing a-bombs, which Iran rejects pursuing. Iran currently has enough material enriched to up to 60%, its best enriched stock, for. four nuclear weapons in principle if...

Iran has notified the U.N. nuclear watchdog of plans to set up more uraniumenriching centrifuges at its Fordow and Natanz plants in addition to bring devices recently installed there online, a private report by the guard dog said on Thursday. The report to member states seen information what Iran has told the International Atomic Energy Company it plans to do, though it has actually done little to follow through up until now, having pledged to include thousands of centrifuges after a resolution versus Iran by the 35-nation IAEA board of governors. Iran already has well over 10,000 centrifuges operating at...

After Iran's rocket attack on Israel on Tuesday, there is speculation that Israel could strike Iran's nuclear centers as it has actually long threatened to do. Below are a few of Iran's main nuclear centers. HOW CLOSE IS IRAN TO HAVING NUCLEAR WEAPONS? Iran's nuclear programme is topped numerous places. While the threat of Israeli airstrikes has actually loomed for years, just some of the sites have been built underground. The United States and the U.N. nuclear watchdog think Iran had a coordinated, secret nuclear weapons program that it halted in 2003. The Islamic Republic denies ever having had one...

After Iran's missile attack on Israel on Tuesday, there is speculation that Israel might strike Iran's nuclear facilities as it has actually long threatened to do. Below are a few of Iran's primary nuclear centers. URANIUM ENRICHMENT AT ITS HEART Iran's nuclear program is spread over lots of places. While the risk of Israeli airstrikes has loomed for decades, only a few of the sites have actually been developed underground. The United States and the U.N. nuclear guard dog think Iran had a coordinated, secret nuclear weapons programme that it stopped in 2003. The Islamic Republic rejects ever having had...

U.N. nuclear agency chief Rafael Grossi, in an interview published early on Tuesday, stated the scenario stayed severe around Russia's Kursk nuclear power plant, however his firm planned no long-term mission at the website. Ukrainian troops remain in Russia's southern Kursk region after pouring over the border last month, however remain some 40 km ( 25 miles) from the facility. ( The situation) is major because a military attack has taken place and that attack has actually reached the stage that it is not that far-off from a nuclear power station, Grossi, Director General of the International Atomic Energy Firm,...

The Russian and Western nuclear markets remain dependent on each other, a scenario that has actually protected Russia from European sanctions, a market report said on Thursday. Cutting the West's reliance would likely increase expenses, the yearly World Nuclear Industry Status Report stated. Since Russia's 2022 full-scale invasion of Ukraine, a few of the five European Union nations with Russia-designed VVER reactors, which utilize Russian fuel, have sought alternative fuel sources, especially U.S. business Westinghouse Electric. Numerous of those nations, however, stockpiled Russian fuel in 2015, driving up imports. Some Western business rely heavily on Russian state business Rosatom's building...

Saudi Arabia plans to scrap lighttouch oversight of its nuclear centers by the U.N. atomic guard dog and switch to regular safeguards by the end of this year, the kingdom stated on Monday, an action the watchdog has long been requiring. Saudi Arabia has a nascent nuclear program that it wants to broaden to ultimately include activities like proliferation-sensitive uranium enrichment. It is unclear where its aspirations end, given that Crown Prince Mohammed bin Salman has said for several years it will develop nuclear weapons if regional rival Iran does. Riyadh has yet to fire up its first atomic power...

Russia said on Wednesday it wanted the International Atomic Energy Company to take a more. unbiased and clearer position on nuclear security, a day after the. head of the company went to a Russian nuclear plant near. where Ukraine has actually mounted an attack into the country. IAEA chief Rafael Grossi toured the Kursk plant on Tuesday. and warned of the threat of a major nuclear accident there. He. stated he had checked damage from a drone strike, which Russia. had actually blamed on Ukraine, but did not say who was responsible. Russian state news firm RIA estimated Foreign Ministry....

It will be hazardous to reboot the Russianheld Zaporizhzhia nuclear reactor in Ukraine as long as war rages around it despite Moscow's wish to fire up the complex, U.N. nuclear watchdog chief Rafael Grossi said on Monday. Grossi held a conference with Russia on the concern last week after officials consisting of President Vladimir Putin told him Moscow intends to restart Europe's biggest nuclear power plant, where the 6 reactors are now closed down as the International Atomic Energy Company has actually suggested on safety premises. The concept, naturally, they have is to reboot at some point. They are not...

German yearahead baseload power on Wednesday afternoon climbed up above 100 euros ($ 108.28) per megawatt hour for the very first time given that late December as a crucial position in the gas market set 4month highs on European supply concerns. The calendar 2025 delivery baseload was at 99.85 euros at 1230 GMT, having struck 100.5 euros when Dutch front month gas agreement hit its highest given that January on concern that Russia might stop gas flows to Austria's OMV . OMV said Russia's Gazprom might suspend shipments in connection with a foreign court judgment gotten by an European energy...