Portugal

A plan to develop among Europe's largest batterygrade lithium refineries in Portugal by end2025 is facing delays due to the intricacy of the project and uncertainty about grant funding, among the partners, Galp , said on Thursday. The 50-50 joint venture Aurora in between the Portuguese oil business and Swedish battery maker Northvolt, established in November 2021, had actually formerly anticipated the refinery to start industrial operations in early 2026. The refinery, with approximated investments of over 1 billion euros ($ 1.10 billion), aims to have an initial yearly production capacity of as much as 35,000 metric lots of lithium...

Brazil's staterun oil firm Petrobras has actually made a nonbinding offer to purchase a significant stake in Galp Energia's substantial offshore oil discovery in Namibia, Petrobras expedition and production director Sylvia dos Anjos informed on Friday. If accepted, the quote would make Petrobras the operator of the Mopane oil and gas field, which has actually an estimated 10 billion barrels of oil equivalent, Anjos said in her very first interview because taking her brand-new function last month. We are the best deepwater operators, said Anjos on the sidelines of an oil and gas conference in the northeastern state of Sergipe....

Portugal's Galp Energia on Monday reported its second quarter changed internet revenue leapt 16% and beat expectations as greater oil rate and lower cost of production balanced out lower production and steady refining margin. It reserved an adjusted net revenue of 299 million euros ($ 325.34 million), more than the 236 million euros anticipated by 18 experts surveyed by the company. Changed profits before interest, taxes, depreciation and amortisation (EBITDA) fell 7% to 849 million euros, likewise above the 821 million euro consensus. Chief Executive Filipe Silva stated in a declaration that Galp continued to deliver a robust performance during...

Namibia has actually become an oil expedition hotspot after several discoveries over the last few years along its coast. It has not yet produced any oil or gas, but oil majors such as TotalEnergies and Shell have actually made discoveries estimated at 2.6 billion barrels, with production in the southern African country gotten out of about 2030. There have been discoveries in the Orange Basin and there are other prospective locations, including Luderitz, Kavango and Walvis basins. Below are information on the latest advancements (in. alphabetical order): CHEVRON The U.S. oil major is expected to start expedition later on. this...

The following bids, mergers, acquisitions and disposals were reported by 1930 GMT on Wednesday: ** A consortium consisting of CVC Advisers and the Abu Dhabi Investment Authority stated it was considering a possible modified deal for Hargreaves Lansdown after the British financial investment platform's board turned down a buyout proposal it had made in April. ** French media and business conglomerate Lagardere said it is moving closer to a sale of its Paris Match magazine to luxury products huge LVMH, on an enterprise worth cost of 120 million euros ($ 130 million). ** Cross-border mergers between European banks are structurally...

The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Wednesday: ** BHP's quote for Anglo American underlines the growing appetite for energy transition metals like copper from miners who should become more aggressive to secure new projects or risk missing out, investors and mining CEOs said. ** Abu Dhabi National Oil Company (ADNOC) has actually obtained a 10%. stake in Galp's Location 4 concession in the. multi-billion-dollar natural gas job in the Rovuma basin in. Mozambique, it stated, its very first venture into the African nation. ** Admiral Acquisition will purchase North American. engineering and lab-testing...

Portuguese energy group Galp Energia reported a biggerthanexpected 35% increase in firstquarter earnings on Tuesday and stated it anticipates its significant oil discovery off the coast of Namibia to support growth in the coming decades. Changed net profit at 337 million euros ($ 360.69. million) beat the 262 million euros expected by 16 experts. surveyed by the company as lower tax payments balance out decreases in. unrefined production and refining margins compared to a year. previously. Adjusted incomes before interest, taxes, devaluation and. amortisation (EBITDA) also beat expectations, increasing 13% to 974. million euros. Galp shares, already up more than...

Portugal's Galp Energia will require a partner to establish a prolific oil discover in Namibia as it is beyond its monetary means to keep an 80% stake in the expedition block that includes the Mopane field, CEO Filipe Silva stated on Tuesday. We will prioritise a partner that is keen to develop rapidly the prospects which will fund the capex, Silva told a conference call with experts. The business said recently that it had finished the first phase of expedition in the Mopane field and approximated it could have at least 10 billion barrels of oil. Sources told last week...

The Organization of the Petroleum Exporting Countries (OPEC) is thrilled about a. prospective partnership with Namibia and ready to support the. southern African country in its oil journey, OPEC Secretary. General Haitham Al Ghais stated on Wednesday. The OPEC+ oil producers' group, having lost Angola and other. players over the last few years, is looking at Namibia for possible. membership as it aims to begin pumping oil by the next years. following a string of huge discoveries. We are thrilled about the potential of the Namibian OPEC. collaboration and stand all set to use support at this important. point, Al...

Portuguese oil company Galp Energia has actually introduced the sale of half of its stake in an expedition block offshore Namibia where it has actually made a significant oil discovery, three industry sources knowledgeable about the matter informed . Galp's Mopane discovery, which is estimated to hold at least 10 billion barrels of oil and gas equivalent, appears to be one of the largest in the basin which might assist kickstart the southern African country's oil market even as federal governments around the world look for to minimize nonrenewable fuel source consumption. Galp has an 80% stake in Petroleum Expedition...

Portuguese oil company Galp Energia stated on Sunday it had concluded the very first phase of expedition in the Mopane field off the coast of Namibia and estimated it might have at least 10 billion barrels of oil. Galp stated it conducted screening operations at the Mopane-1X well in January and the Mopane-2X well in March. In both wells, which are 8 kilometres apart, it stated significant light oil columns were discovered in top quality tank sands. The Mopane field lies in the Orange Basin, along the coast of the southern African nation, where Shell and France's TotalEnergies have made...

The following Spanish stocks may be impacted by paper reports and other aspects on Friday. has actually not verified the newspaper reports, and can not vouch for their accuracy: FERROVIAL The business said on Thursday it had executed a buy-back program for up to 500 million euros ($ 535.50 million). MELIA Banco Santander, through an investment lorry, took 38.2% in the share capital of Melia's unit Adprotel Hair, the hotel chain stated on Thursday. Individually, Melia will run, under its brand Melia Collection, a hotel in Spain's southern city of Ronda after an financial investment of five million euros ($...

Dutch miner AMG has acquired a 15.77% stake in Londonbased Savannah Resources to become the largest investor in the company that is developing a lithium job in northern Portugal, the companies said on Thursday. Savannah CEO Emanuel Proenca said the 16-million-pound ($ 20. million) investment represented a substantial de-risking action,. describing AMG as the perfect partner due to the fact that of its own lithium. service that serves Europe's battery and electrical car (EV). sector. The project, which has faced strong opposition from regional. homeowners and environmentalists, is commonly viewed as a test for. the European Union's aspiration to lower...

Spain's Jordan Diaz jumped a huge 18.18 metres, the 3rd finest dive of all time, in a triple dive thriller at the European Championships in Rome on Tuesday, also breaking a 26yearold champion record to take the gold medal. Diaz had set a brand-new personal best with a dive of 17.96 on his 4th effort of 6, but was still in 2nd place after Portugal's Pedro Pichardo had currently broken Jonathan Edwards' champion record of 17.99, set in 1998, with a leap of 18.04. Pichardo, Olympic and European champion, was the only rival to have formerly gone past 18 metres,...

Europe's efforts to ensure materials of crucial minerals required for its green and digital transitions and to reduce its dependence on China are struggling to acquire public approval, leading industry officials said on Wednesday. The EU Important Raw Materials Act, due to go into force next week, sets targets for the bloc to mine, recycle and process minerals consisting of lithium and copper by 2030. It also sets timeframes for strategic projects to protect licenses, however it will not fall to 27 months for a mine from the present 15-year standard without winning over a sceptical public. Bernd Schaefer, the...