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Energy Markets

Fossil Fuels

Fossil Fuels

UK raises safety level for Hartlepool Nuclear Plant

The Office for Nuclear Regulation (ONR), which is the UK's nuclear regulatory agency, announced on Monday that the Office has moved Hartlepool Nuclear Power Station in northeast England operated France's EDF to a higher level of safety regulation. The ONR stated that the station was still safe to operate but the decision had been made after identifying areas for improvement. EDF wants to extend the lifespan of the plant for another year, until March 2027. The ONR stated that the increased scrutiny was not related to EDF’s decision to extend its operating life, which is subject to the demonstration of...

Oil & Gas Equipment

Thyssenkrupp Steel Unit cancels contract with HKM and remains open for sale

Thyssenkrupp Steel Europe, the continent's 2nd largest steelmaker, announced on Friday that it had decided to terminate a contract with HKM. This is a step further to sever ties to the business, which it owns in part and wants to sell. Thyssenkrupp has been under pressure to streamline its steel business due to high energy prices and low-cost Asian competitors. It warned that it might have to close or sell HKM, which is a 50-30-20 joint enterprise between Thyssenkrupp and Salzgitter. Dennis Grimm said that due to the market conditions we would have to reduce production capacity from 11.5 million...

Oil & Gas

US companies warn French companies to comply with Trump's ban on diversity

The Trump administration ordered French companies that have contracts with the U.S. federal government to comply with its executive order prohibiting diversity, equity and inclusion programs. This highlights the extraterritorial impact of U.S. policy and their possible impact on European corporate practice. Companies have been asked to fill out a form entitled "Certification regarding compliance with applicable federal anti-discrimination law." The questionnaire has been seen. The move comes amid increasing economic and political tensions in the United States and Europe after Donald Trump's election, which was based on a "America First" platform. The differences in approaches between France and the...

Oil & Gas Equipment

Elliott takes big short position in Shell amid BP campaign

According to financial filings, the activist hedge fund Elliott Management in the United States, which is currently campaigning in its capacity as a BP investor for more changes at BP, has taken a large short position in Shell. Elliott's short positions, designed to earn money in the event that Shell's shares fall, amount to around 0.5% of Shell according to the data published by the Financial Conduct Authority on their website on Thursday. The data shows that this is the largest short position the company has had since 2016. Elliott took a position Tuesday when Shell provided an investor update...

Fossil Fuels

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. EXMAR: Exmar reported on Thursday a decline in FY IFRS revenues to $348.9 millions but an increase in IFRS EBITDA at $204.7 million. It will not be proposing a dividend in 2024. FLUXYS: Fluxys announced on Thursday that FY revenues and EBIT had increased to 608.8 millions euros ($657.0) and 133.9million euros, respectively. It proposes to pay a EUR 1.4 dividend per share. HAL TRUST HAL Trust reported that its NAV will increase by 2,20 billion euros in 2024 to...

Carbon Emissions

Shell, Equinor and TotalEnergies invest $714 Million in Carbon Storage Expansion

Shell, Equinor, and TotalEnergies announced on Thursday that they would invest 7.5 billion Norwegian crowns (713.66 million dollars) in expanding their flagship project for carbon storage in western Norway. This follows a recent customer agreement. They said that the decision was made after the partners signed an agreement for a 15-year period with Stockholm Exergi, to store and transport 900,000 tons of carbon dioxide annually at the Northern Lights facility. Shell stated in a press release that the expansion will more than triple CO2 injection capability at the site to 5 million tonnes annually, which is equivalent to 10% of...

Nuclear Power

French industry to be impacted by EDF's new strategy

Bernard Fontana is France's nominee for the position of head of the state nuclear company EDF. If he were to get the job, his first task would be to end months of heated discussions with the French industry about the price of power supply on a long-term basis. According to a government official and media reports, a new system of French electricity sales for heavy industry will be implemented next year. The current CEO Luc Remont's job was at stake due to the inability to progress the issue. EDF's expensive offers have attracted very few companies. This raises the risk...

Oil & Gas

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. ESSO - The French oil company Esso announced its results for the full year on Wednesday. Its adjusted EBITDA was 58 million Euros and it will propose a dividend of 3 euro per share. SANOFI, French pharmaceutical company announced on Thursday an agreement with Dren Bio to acquire its autoimmune disease treatment DR-0101 from Dren Bio. Sanofi plans to purchase Dren-0201 at a price of $600,000,000 upfront and $1.3 Billion in future payments. SODEXO - French food caterer SODEXO lowered...

Oil & Gas

Moldova signs 30 million euro deal with France for energy efficiency

After meeting her French counterpart Emmanuel Macron, Moldovan President Maia Sandu announced that the French Development Agency and Moldova signed a deal worth 30 million euros ($32.5million) on Monday. The agreement aims to improve energy efficiency in the post-Soviet country. Sandu said at a joint press conference that the agreement with Agence Francaise de Developpement would help "reduce energy wastage, lower costs and increase our energy independence". The pro-European Moldovan government accused Russia of creating a fake energy crisis in order to destabilize the country before parliamentary elections. This came after Russian gas producer Gazprom halted exports of its product...

Oil & Gas

Wall Street Journal, March 3,

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Shell is looking at the possibility of selling its chemical assets in Europe and America as part of a broader effort to focus the company on its most lucrative operations. Top executives from some of the largest U.S. Consulting firms meet with officials of the Trump Administration to defend their consulting agreements ahead of the deadline next week for government agencies justifying major consulting contracts. In a post on social media, U.S. president Donald Trump revealed the...

Electric Utilities

Acciona Energia reassures investors on U.S. exposure, asset sales

Acciona's top management stated on Friday that it expects to see little impact of President Donald Trump’s energy and trading policies. It also outlined plans for asset sales up to $4.68 billion. Acciona Energy, like other European green energy companies has faced investors' difficulties. Unease The U.S. Renewable Energy Market is changing dramatically under the Trump Administration. In a conference call with analysts on earnings for 2024, Chief Executive Rafael Mateo said that "our exposure to the U.S. Energy Policy Volatility is very limited." Acciona had already acquired the necessary equipment in advance and secured tax incentives, he said at...

Oil & Gas

The core profit of Vallourec drops due to lower tube prices in North America

France's Vallourec announced a 24% decline in its core profit for the fourth quarter on Thursday. It cited lower average selling prices for its steel tubes, its primary market, in North America. Vallourec makes tubings for oil and gas markets, low-carbon energies and industrial markets. Its operating earnings before interest taxes, depreciation, and amortization (EBITDA), fell to 214 millions euros ($224) in the fourth quarter of 2024. This was due to a 27% decline in North American tubes. In the fourth quarter, around 92% (globally) of Vallourec’s total revenues came from the tubes business. In a conference call with journalists,...

Environment

Environment

Anti-Trump protesters gather at Washington and other US cities

On Saturday, organizers plan to hold 1,200 protests across the U.S. in what they expect will be the biggest single day of demonstrations against President Donald Trump. As the protests began, thousands of people flooded into Washington under gray skies and light rain. The organizers said that they expected more than 20,000 to attend the rally on the National Mall. Trump opponents will be able to show their displeasure in mass at Trump's executive orders. According to the website, 150 activist groups are expected to attend. The protests will take place in all 50 US states, plus Canada and Mexico....

Environment

After a dry spell, conditions for French crops improve slightly

The conditions of French soft wheat have improved in the week ending March 31. According to FranceAgriMer, the farm office said that the recent dry weather has helped the crops in many areas of the country. Heavy rains in France have delayed planting and stunted early growth. This has raised fears that the harvest will be smaller than last year, when heavy rains caused the crop to be hit by the worst rains since the 1980s. The ratings of soft wheat showed that by March 31 in France, which is the largest producer of soft grain in the European Union...

Pollution

US Judge rules that several companies are liable for tainted infant food.

A U.S. Judge said that several companies, including Walmart, Beech-Nut, and Gerber, must face a national lawsuit alleging that toxic heavy metals were contaminated in their baby food and caused brain and neurodevelopmental damages to the children who ate them. In a ruling on Wednesday, U.S. district judge Jacqueline Scott Corley stated that parents could try to prove defective manufacturing, negligence, and failure to warn their children about over 600 baby food products, caused them to suffer from autism spectrum disorder, and attention deficit hyperactivity disorders. Parents claimed that some defendants did not adhere to their internal limits on how...

Mining

Mineral Resources

Mineral Resources

Stellantis production in Italy dropped further in the first quarter, according to unions

The FIM Cisl union reported on Tuesday that Stellantis' Italian car production fell further in the first three months after falling to a 70-year low by 2024. New models won't support activity until next year. In a report issued by the union, vehicle production, which includes passenger cars and vans, was down 35.5% from a year ago to approximately 110,000 units. The automaker added that activity contracted at all six of its assembly plants in Italy. Production of the Dodge Hornet fell by 80% in Pomigliano to 1,356 units. The Hornet is one of only a few Stellantis models that...

Mineral Resources

Trump's tariffs are forcing trading partners into a corner

The only option for U.S. trade partners in the current trade war with Donald Trump is to sue. Most countries that are hit by tariffs of 10%-50% on their exports, to the dominant economic superpower in the world, lack the firepower or political will to fight back, according to government officials, economists, and trade experts. The vast majority of Trump's trading partners didn't immediately respond and instead indicated their willingness to negotiate with him a compromise that would save face. Even those who have counter-measured left the door open to negotiations. China, who on Friday imposed an additional 34% tariff...

Mineral Resources

China responds to global trade war by imposing sweeping tariffs on U.S. products

China announced an additional 34% tariff on U.S. products on Friday. This is the most significant escalation of a trade conflict with President Donald Trump, which has fueled fears of a worldwide recession and caused a stock market crash. Beijing announced that it had added several U.S. companies to an export control listing and classified others as "unreliable". From Canada to China, nations have prepared retaliation as a trade war escalates after Trump raised U.S. Tariff Barriers to their highest levels in over a century. This led to a drop in the world financial markets. Shigeru Shiba, the Prime Minister...

Mineral Resources

Trump's policy swerves inspire Europe to action, but 'Europhoria" may be premature

The erratic policies of U.S. president Donald Trump have given Europe a sudden spur to action. However, any "Europhoria," about the chances for a lasting revival in this region is probably premature. Germany's plans for hundreds of billions in defence and infrastructure spending is perhaps the best example of how Germany has responded to Trump's tariff threats and questions about America's future role as a security force in Europe. The growth forecasts for the Eurozone economy have also been revised upwards. Investors are abandoning U.S. stock for the long-neglected European stocks as the euro has increased. While some analyst notes...

Mineral Resources

Stellantis' Elkann: European carmakers should avoid the defence industry

Stellantis' chairman said that the European automotive industry doesn't need to switch to defence production. He also confirmed the group will appoint its new CEO by the end of the first quarter of the year. Adolfo Urso, Italy's Minister of Industry, said that Rome is preparing an Industrial Plan to foster connections between the automotive, aerospace and defence sectors. The plan will be revealed in June. Stellantis chairman John Elkann told the Italian parliament that the U.S.A. and China had both strong automotive and defence industries. Therefore, there was no need to choose between them. Elkann's multinational group, which includes...

Mineral Resources

Stocks of arms companies soar after the German parties' defense sea change

After reports that the next likely government in Germany was considering a major fiscal overhaul for Europe's largest economy, Europe's defense stocks surged on Monday. Shares of defence contractors such as Thyssenkrupp Hensoldt Renk Rheinmetall BAE Systems, Leonardo, and Hensoldt rose by double-digits percentages after news broke that the conservatives, who won the elections, and the Social Democrats, centre-left, were considering debt-financed infrastructure and defence funds worth under one trillion euros. No party has confirmed officially that a special defence fund worth 400 billion euro ($417 billion), and infrastructure funds worth up to 500 billion euro, which would total 20%...

Mineral Resources

Trump orders new tariff investigation into US lumber imports

The U.S. president Donald Trump ordered on Saturday a new investigation into trade that could add more tariffs to imported lumber. This would be in addition to the existing duties on Canadian softwood timber and 25% tariffs due next week on all Canadian and Mexican products. In his third new investigation in a single week, Trump has signed a memorandum ordering Commerce Secretary Howard Lutnick that he initiate a national-security investigation into U.S. Lumber Imports under Section 223 of the 1962 Trade Expansion Act. Trump used the same trade law to impose tariffs against global imports of steel and aluminum....

Mineral Resources

Document shows that the Paris prosecutor has dropped his case against Apple regarding Congo minerals.

According to a document seen on Thursday, French prosecutors closed the case brought by Democratic Republic of Congo against Apple subsidiaries for using conflict minerals in their supply chain. In December, Apple's lawyers confirmed that the Congo had filed criminal complaints in France and Belgium against Apple subsidiaries. Apple strongly denied the allegations at the time and told its suppliers not to use minerals sourced from Congo or Rwanda. The Paris prosecutor's Office, in a document dated February 18 and seen by us, said that allegations of money laundering and deceptive practices were "not well-founded". It closed the case and...

Mineral Resources

France's Industry Minister says that Europe's steel sector needs more protection

Marc Ferracci, French Industry Minister, said that the European steel industry is in trouble and it's important to protect its ailing sector. The current safeguards on steel imports are not adequate and do not adapt to today's market. Ferracci said, "The European industry, and the steel sector, need protection. This means, in the short-term, strengthening safeguard measures," at an event for the European steel industry in Paris. He said that European steel plants would close if they did not take action to combat the heavily subsided imports from China, and the looming U.S. Tariffs. The European Commission is examining whether...

Mineral Resources

European car sales fall in January, as combustion engine sales declines outweigh electric vehicle gains

Data from the industry showed that new car sales in Europe fell by 2.1% in January, as an increase in registrations of fully electric and hybrid electric cars in its major markets did not compensate for falling sales of petrol and diesel, according to Tuesday's data. The European Automobile Manufacturers Association's (ACEA) data showed that overall sales in France and Italy were down compared to last year. Only Spain recorded an increase year-on year among the top-selling nations. Why it's important After discussions with automakers and other interest groups, the EU executive will announce its plans for the auto sector...

Mineral Resources

Trump and Macron discuss Ukraine Peace Prospects at White House

Donald Trump, the U.S. president, said that the United States was close to a mineral deal with Ukraine. He and French President Emmanuel Macron discussed the prospects of ending the Ukraine conflict despite their stark differences in how to proceed. In response to reporters' questions, Trump said that the much-anticipated revenue-sharing deal with Ukraine was "very close." He and Macron were meeting in the Oval Office. He suggested that he may meet Ukraine President Volodymyr Zelenskiy to seal the deal later this week or in the next week. Zelenskiy may sign the agreement this week or next, according to Trump....

Mineral Resources

Rheinmetall converts German factories for defence equipment

Rheinmetall, Europe’s leading ammunition manufacturer, plans to convert two of its German automotive plants to make primarily defence equipment. This will highlight the impact of a surge in expected spending in the area amid U.S. concerns over the Ukraine War. Last week, the EU's political leaders were gathered at the Munich Security Conference to discuss their own defence strategy. The defence expansion of Rheinmetall affects its Berlin and Neuss factories, where it currently manufactures automotive parts. This business has been challenged as German carmakers struggle with high costs and foreign competition. According to the plans that are still being finalised,...