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Energy Markets

Fossil Fuels

Fossil Fuels

Battery technologies that compete with RPTs shape the EV Industry

Startups around the world are racing to create new battery technologies that use materials such as sodium and sulfur, or other innovative chemistries. They aim to reduce costs and reduce dependence on certain minerals for electric vehicles (EVs). China controls 90% of raw material processing for two of the most popular lithium-ion variants in today's electric vehicle market. The battery technology is constantly evolving, but its basic principles remain unchanged. It has three components: a cathode anode, and an electrolyte. Here are some of the battery types that are currently being used or developed by car manufacturers as they weigh...

Fossil Fuels

The EV industry is shaped by the competition between battery technologies

Startups around the world are racing to create new battery technologies that use materials such as sodium and sulfur, or other innovative chemistries. They aim to reduce costs and reduce dependence on certain minerals for electric vehicles (EVs). China controls 90% of raw material processing for two of the most popular lithium-ion EV variants. The battery technology is constantly evolving, but its basic principles remain unchanged. It has three components: a cathode anode, and an electrolyte. Here are some of the battery types that are currently being used or developed by carmakers as they consider long-term solutions. Use in batteries...

Renewable Energy Equipment

South Korean government orders reorganization and capacity reduction for petrochemical firms

Officials from the South Korean government announced on Wednesday that ten petrochemical firms have agreed to restructure operations and reduce their capacity to crack naphtha. The South Korean government is putting pressure on the petrochemical industry, which it claims is "in crisis", to accelerate restructuring in order to increase efficiency and boost margins. At a meeting with the Minister of Trade, Industry and Energy Kim Jung Kwan, executives from the companies signed a restructuring agreement that was industry-wide. According to the industry ministry, companies have agreed that they will reduce their annual capacity for naphtha cracking by between 2.7 and...

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. DRONEVOLT: Drone Volt, a drone-maker, entered into a strategic partnership that will see the two parties deploy drone inspections on several sites both in France and abroad. EVS: Belgian broadcast equipment manufacturer EVS has announced the acquisition of Telemetrics, a U.S. based company. The move is part of an effort to increase its global reach. The Belgian company also maintained its guidance for annual revenue and EBIT after delivering revenues of almost 92 million euro ($107.25 millions) in the first...

Fossil Fuels

India's IOC and BPCL have said they will buy 22 million barrels non-Russian oil for delivery in September-October

Trade sources reported that Indian Oil Corp. and Bharat Petrol Corp., two of the largest state refineries in India, had bought at least 22,000,000 barrels non-Russian oil for delivery between September and October. This was after U.S. pressed India to stop buying from Russia. After the Russian invasion of Ukraine, Indian state refiners began to purchase cheaper Russian crude. After pressure from U.S. president Donald Trump, they halted their Russian purchases at the end of July. Sources said that in its latest tender IOC purchased 2 million barrels on a delivered-basis of U.S. Mars Crude, 2,000,000 barrels Brazilian grades, and...

Renewable Fuels

French court blocks return of controversial pesticide to farming law

The French Constitutional Court blocked Thursday the reintroduction a pesticide that was accused of harming honeybees. This is the latest development in a bitter political battle within the largest agricultural producer in the European Union. The court ruled that the proposed re-authorisation for acetamiprid – a pesticide belonging to the group of neonicotinoid pesticides, which is banned in France – as part of a farm bill passed last week did not offer sufficient protections regarding the use of this crop chemical. A petition opposing the proposed relaxation of France’s neonicotinoid prohibition gathered over 2,000,000 signatures. This was a record on...

Electric Utilities

Sixth Street acquires 38% of Sorgenia, an Italian renewable energy company, in a $4.6 billion deal

Sixth Street, a U.S.-based investment firm, announced on Monday that it had purchased 38% of Sorgenia. The deal values Sorgenia at $4.65 billion. Asterion Industrial Partners, a Spanish infrastructure fund, can now exit Sorgenia’s capital. F2i, Italy’s main infrastructure fund with a 62% share, remains the largest shareholder of Sorgenia. F2i has agreed to transfer its assets for wind and solar energy generation in Italy and Spain, including EF Solare and Renovalia Tramontana, to Sorgenia. Asterion invested its first money in Sorgenia in 2020, supporting the company's efforts to become a major player in Europe’s green energy transformation. Richard Sberlati,...

Fossil Fuels

EDF reports 17% decline in first-half profits due to low power prices

EDF, France's nuclear energy company, reported a 17% decline in its core profit for the first half of this year on Thursday. Low European power prices had eroded earnings due to higher nuclear output. The utility reported earnings before interest taxes, depreciation, and amortization (EBITDA) of 15.5 billion euro ($18.24billion) for the six-month period ending June, down from 18.7billion a year ago. The net debt was 50 billion euros at the end last year, a decrease from 54.3 billion euro at the same time. As it prepares for the construction of six new nuclear reactors in the next 15 months,...

Oil & Gas

TotalEnergies reports a 23% decline in its quarterly revenue as oil and gas prices fall

TotalEnergies announced a 23% drop in earnings for the second quarter on Thursday. This was the worst performance of four years by this French oil major. Higher upstream production could not offset lower earnings in oil, gas and refined fuels. The adjusted net income for the three-month period ending June 30 fell from $4.7 billion a few months earlier to $3.6 billion, which is in line with analyst expectations as reflected in LSEG consensus. It was $4.2 billion lower than the first quarter. Brent crude prices are down 20% from a few months ago. This is because OPEC+ producers, including...

Fossil Fuels

Sources: France's EDF will cut jobs and withdraw from certain overseas projects

Two sources with knowledge of the matter said that France's EDF has cut its headcount abroad and canceled bids for some nuclear projects overseas in order to focus on a major building programme at home, under new CEO Bernard Fontana. France, once the world's leading nuclear power producer and Europe's biggest nuclear energy provider, is now pulling back, at a moment when global nuclear expansion calls are being made. This opens up new opportunities for other players, as high costs and design problems hurt its ability compete internationally. Fontana took over EDF in April after the government became frustrated by...

Fossil Fuels

TotalEnergies warns of lower oil and gas sales in Q2 results

In a trading update published on Wednesday, TotalEnergies said that lower prices for oil, liquefied gas, and hydrocarbons will affect its second-quarter earnings. However, the company's production of hydrocarbons has increased slightly. Total said that the hydrocarbon production will increase by around 2.5% per year in the second quarter 2025. A 20% decline in Brent crude prices -- from $85 a barrel last year to $67.9 a barrel in the second half of 2025 -- will mean lower earnings for the upstream sector. Crude oil prices dropped in the second quarter, as OPEC+ (made up of the Organization of Petroleum...

Fossil Fuels

TotalEnergies UK assets to be purchased by Prax are still unsold

By America Hernandez PARIS, 2 July - TotalEnergies West Shetland Offshore assets, which it sold to Prax Group in the past year, remain under French oil major ownership. They will therefore not be affected by liquidation proceedings that affect the British company. TotalEnergies EP UK stated that the transaction to sell the West of Shetland Asset to Prax is not yet complete and we are still the operators of the Shetland Gas Plant as well as the related fields. TotalEnergies agreed to transfer employees from TotalEnergies to Prax in exchange for a portfolio mature offshore fields that produce about 7,500...

Crude Oil

Crude Oil

Bitcoin joins the party at MORNING BID EUROPE

Ankur Banerjee gives us a look at what the future holds for European and global markets When cryptocurrencies are on fire, you know that markets are risky. Bitcoin has joined global stocks in scaling a new record high as the near certainty of U.S. rate cuts boosts risk sentiment. Bitcoin, the world's most popular cryptocurrency, has many things going for it. It is likely to see lower interest rates in the future, as well as a more favorable regulatory environment and strong institutional investor flows. Ether has also been on a charge. It is hovering at its highest level since...

Crude Oil

MORNING BID EUROPE - "Tariffs, please use this version"

Stella Qiu gives us a look at what the future holds for European and global markets. The deadline for tariffs has passed and Donald Trump has imposed new levies on imports, including from countries that have not yet signed a trade agreement. Canada was set at 35%, India at 25%, Taiwan at 20%, and Thailand, 19%. Switzerland received a staggering 39%, one of the highest rates. This raises the question: What does Trump have against the Swiss people? You're not buying enough American watches or chocolate? After months of posturing and meetings, delays, and truces that prompted investors to wonder...

Crude Oil

The yen is satisfied with the morning bid for Europe.

Wayne Cole gives us a look at what the future holds for European and global markets. Investors have sold on rumours and bought (a little bit) on facts in Japan's upper-house election. The Japanese markets were closed on Marine Day, so there was no liquidity. However, the yen has gained a little against the dollar and the euro. Nikkei Futures in Chicago have been trading in line with the Friday cash close. Wall Street futures have risen a little bit, while European futures are down a little. Shigeru Shiba, the Prime Minister, seems to be in a safe position for...

Power Markets

Nuclear Power

Nuclear Power

Sources: France's EDF will cut jobs and withdraw from certain overseas projects

Two sources with knowledge of the matter said that France's EDF has cut its headcount abroad and scrapped bids for some nuclear projects overseas as it focuses on an important construction programme in France under the new CEO Bernard Fontana. France, once the world's leading nuclear power producer and Europe's biggest nuclear power provider, is now pulling back, at a moment when global nuclear expansion calls are being made. This opens up new opportunities for other players, as high costs and design problems hurt its ability compete internationally. Fontana took over EDF in April after the government became frustrated by...

Nuclear Power

EDF, the French nuclear company, will invest $1.5 billion in Britain's Sizewell-C nuclear project

The French government and British government announced on Tuesday that EDF, a French nuclear energy company, will invest approximately 1.1 billion pounds ($1.5billion) in the Sizewell project in Britain. EDF is already a shareholder in this project. The announcement came as French President Emmanuel Macron was on a visit of state to Britain. This is the first European leader to be in Britain since Brexit. Britain wants to replace its aging nuclear facilities with new ones to improve energy security, and to meet its climate goal of zero net emissions by 2050. Sizewell C is expected to produce enough electricity...

Nuclear Power

Fives Nordon will build parts for new reactors under a deal with France's EDF.

By America Hernandez PARIS, 7 July - French engineering company Fives Nordon received an order on Monday from the state-owned utility EDF for 300 boilermaking pieces to be used in six new nuclear reactors. According to the statement, after 18 months of engineering study, part construction will begin 2027. Deliveries will continue until 2038. Fives Nordon has not disclosed the value of the contract. The President of France, Emmanuel Macron, has declared that he will expand France's nuclear capability. The flagship project Both by Extending the lifespan In the next decade, we will build at least six new reactors of...

Nuclear Power

Russia claims it is too soon to estimate the damage caused by US bombs to Iranian nuclear facilities

The Kremlin stated on Wednesday that the damage caused by U.S. airstrikes on Iran's nucleus facilities last weekend was still too early to determine. Dmitry Peskov, spokesman for the Kremlin, said "No" when asked if Russia held its own data on the extent of damage. I don't believe that anyone has realistic data at this time. "It's likely too early to have such data. We need to wait for them." The U.S. president Donald Trump claimed at the weekend that these strikes "obliterated Iran's nuclear facility". Three sources familiar with the situation said that an initial U.S. Intelligence assessment determined...

Nuclear Power

IAEA chief: return to Iranian sites top priority

Rafael Grossi, the U.N.'s chief nuclear inspector, said that his priority was to get his inspectors to Iran to assess the effects of U.S. military strikes on Iran and to verify its stock of enriched Uranium. Grossi, the head of the International Atomic Energy Agency (IAEA), told a press conference during an Austrian cabinet meeting on security that "this is our number one priority." He wants his inspectors to return to Iranian sites, including the three facilities where it enriches uranium before Israel's strikes on June 13th. When asked if Iran informed him about the status of its stocks, especially...

Nuclear Power

Limitations of the UN's nuclear watchdog in Iran

Since Israel's military strike on Iran's nuclear facilities on 13 June, the U.N. nuclear watchdog that polices the global Nuclear Non-Proliferation Treaty has been unable to conduct inspections in Iran. The International Atomic Energy Agency has a number of inspection powers. IS THE IAEA UNIVERSAL IN JURISDICTION? No. The IAEA has separate agreements with other countries and is only responsible for the 191 signatories of the NPT. Iran is a signatory to the NPT, and is therefore subject to IAEA supervision. This includes inspections to ensure that nuclear material like uranium does not get "diverted", for example to be used...

Nuclear Power

Regime change in Tehran? Putin: Iran consolidates around its leaders

When asked if he agrees with Israeli statements regarding a possible regime change in Tehran, Russian President Vladimir Putin responded on Thursday by saying that Iranian society is consolidating around the Islamic Republic’s leadership. Putin has spoken as Trump Keep the World Guessing As residents of Iran's Capital city began to leave the city after the sixth day of Israel's airstrike, many wondered if the U.S. was going to join Israel in its bombardment of Iranian missile and nuclear sites. Putin said that all sides must find ways to end the hostilities so as to ensure both Iran's rights to...

Nuclear Power

Kremlin: Russia is willing to mediate in Iran and accept Tehran's Uranium.

The Kremlin announced on Monday that Russia is still ready to serve as a mediator between Israel and Iran. Moscow's proposal to store Iranian Uranium in Russia also remains on the table. Tehran claims it has a right to peaceful nuclear energy, but the rapid progress of its uranium-enrichment programme has sparked fears across the Gulf and the West that the country is trying to build a nuclear bomb. enriched uranium It is possible to ease the crisis by converting nuclear fuel from Iran into civilian reactor fuel. This proposal is still on the table and it is still relevant....

Nuclear Power

IAEA Board declares Iran in violation of non-proliferation obligations

The U.N. Nuclear Watchdog's Board of Governors, which consists of 35 nations, declared Iran in violation of its nonproliferation obligations for the first time since almost 20 years on Thursday. This could lead to a report being made to the U.N. Security Council. The major step represents the culmination of several simmering standoffs between Iran and the International Atomic Energy Agency that have arisen ever since President Donald Trump, during his first term in office, pulled the U.S. from a nuclear agreement between Tehran and other major powers. That deal then unraveled. Iran is likely to escalate its nuclear program,...

Renewable Energy

Curve prices rise on the return of nuclear fears in France

The European electricity prices rose in the late morning of Wednesday due to concerns about possible corrosion at French reactor Civaux 2. A spokesperson for EDF has said that the EDF is not responsible for any damage caused by its employees. Inspection is underway The utility has not yet received the results of the annual maintenance at Civaux 2. Markets were reminded three years ago of the corrosion that occurred in French reactors when production fell and required imports from Germany. Prices then rose. By 0945 GMT the French baseload year-ahead was 7.6% higher at 67.6 Euros ($77.30). All contracts...

Nuclear Power

The Kremlin has said that Putin is willing to assist Trump in the Iran nuclear negotiations.

The Kremlin reported on Thursday that President Vladimir Putin had told Donald Trump, President of the United States, that he would use Russia's close relationship with Iran to assist in negotiations regarding Iran's nuclear program. Trump told Putin in a telephone call on Wednesday that Iran had a limited time to decide on its nuclear program and that he thought Putin agreed with him that the Islamic Republic shouldn't have nuclear weapons. Trump said that Putin suggested that he take part in the talks with Iran, and that he "could, perhaps, help in getting this to a quick conclusion", even...

Nuclear Power

Grossi: Any US-Iran agreement should include a 'robust IAEA inspection'

Rafael Grossi, the chief of the International Atomic Energy Agency (IAEA), said that any deal between Iran and America which would impose new nuclear restrictions on Iran must include "very rigorous" inspections from the U.N. watchdog. Both countries are currently holding talks to curb Iranian nuclear activities, which have accelerated rapidly since Donald Trump pulled Washington from a 2015 agreement between Iran and major power that limited these activities. Iran increased its enrichment of uranium purity as the deal unraveled. Up to 60% The deal has increased the amount of nuclear weapons-grade material to approximately 90%, up from the 3.67%...