Portugal

Portugal's acting energy minister said that it wants the European energy regulators, ACER, to conduct an independent investigation to determine the cause of the massive power outage which brought Spain and Portugal almost to a standstill in the last month. Maria da Graca Carvalho stated that Prime Minister Luis Montenegro wanted an independent investigation conducted by the European Agency for the Cooperation of Energy Regulators in order to supplement the technical report prepared by the European Network of Transmission System Operators ENTSO-E. Carvalho, in response to questions, said that "ACER is a suitable entity for coordinating any external evaluation process....

Artificial intelligence bulls are dusting off an old economic theory that dates back 160 years to explain why stocks in the sector may still have more to offer, despite China's new cheap AI model DeepSeek. The tech stocks fell on January 27th after DeepSeek was launched. DeepSeek, which costs a fraction of the rival AI models but requires less sophisticated chips and is cheaper than the other AI models, raised concerns about the West's massive investments in data centres and chipmakers. The biggest one-day decline in market capitalisation of any company in history was caused by the U.S. advanced chips...

Portuguese oil business Galp Energia is examining a confidential grievance about an alleged individual relationship in between President Filipe Silva and a company supervisor, financial website ECO reported on Saturday. Galp's ethics committee is analysing declared disputes of interest due to a close and individual relationship (which had been) kept secret with the female executive who reports to the CEO, ECO said, mentioning unidentified sources. A Galp representative declined to comment. The news website did not determine the female or specify her precise title, saying only she is a remarkable director. Galp's standard procedure needs personal relationships to be interacted...

Portugal's largest energy EDP published on Thursday a strongerthanexpected 14% increase in ninemonth net combined revenue, benefiting from strong rains in Iberia and additional earnings from its Brazilian unit after a complete takeover. EDP????? stole a net 1.08 billion euros ($ 1.17 billion),. beating the typical experts' forecast of 993 million euros in. an LSEG poll, despite smaller sized capital gains. Earnings reported on Wednesday by its subsidiary EDP. Renovaveis, the world's fourth-largest wind energy. manufacturer, fell 53% to 210 million euros. EDP ???? said it scheduled 179 million euros in consolidated. capital gains from the sale of stakes in...

Portuguese energy business Galp is in no rush to make a last investment decision ( FID) to construct a batterygrade lithium refinery in Portugal amidst challenging market conditions, CEO Filipe Silva said on Monday A 50-50 joint endeavor between Galp - which previously on Monday. reported a 22% decline in third-quarter adjusted core earnings - and Swedish battery maker Northvolt, dubbed Aurora and established in November 2021, was formerly anticipated to reveal the FID by completion of 2024. However, the refinery, which was set up to begin business operations in early 2026, is dealing with hold-ups due to the complexity...

Portugal's Galp Energia on Monday posted a 22% fall in thirdquarter adjusted core revenue, struck by lower oil output and a sharp drop in refining margins, but profits still beat estimates for the period. The energy firm reported adjusted earnings before interest, taxes, depreciation and amortization of 820 million euros ($ 885. million), beating the 766 million euros average anticipated by 20. experts surveyed by the business. Galp's share of oil and gas production from tasks in. which it has a stake fell 10% year-on-year to 112,000 barrels of. oil equivalent per day, showing the disposal of its 10% stake....

Saipem will start work on deep water drilling in Namibia for Portugal's Galp Energia, the president of the Italian energy specialist said on Thursday. In early 2024 Galp performed tests at its Mopane-1X and Mopane-2X wells and estimated in April that the Mopane field could hold at least 10 billion barrels of oil following an initially phase of exploration. The find at Mopane appears to be among the largest made in the Orange Basin following effective expedition projects by TotalEnergies and Shell in recent years. The agreement granted by Galp to drill a deep-water well is the very first in...

storyp1> LISBON, Oct 18 (Reuters) The local assembly of Portugal's Azores Islands approved the production of the biggest protected marine location in the North Atlantic to reach international conservation goals well ahead of time. The approval late on Thursday positions the archipelago at the leading edge of global ocean preservation that aims to accomplish the objectives set by the United Nations of safeguarding 30% of the Earth's land and sea by 2030 under a international pact adopted last year. The network will include practically 300,000 square kilometres (115,830 square miles) and ensures the conservation of undersea mountain ranges and susceptible...

Spanish lobby group Foro Nuclear has filed a legal challenge with the country's top court against a 30% boost of the hazardous waste levy, while the primary operators of the plants are transferring to join the battle. The lobby group, whose members consist of the energy companies operating Spain's reactors and firms active in the industry, filed the legal action to the Supreme Court in late September, it told Reuters on Friday, decreasing to further remark. Energy giants Iberdrola and Endesa, the primary operators of the country's nuclear fleet, are moving to submit their own appeals, people familiar with the...

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 Petrobras will include a minimum of one partner in its quote for a. 40% stake in Galp Energia's Mopane oil prospect in. Namibia, 2 sources with knowledge of the matter told Reuters. Recently, Petrobras' director of exploration and. production, Sylvia dos Anjos, informed Reuters that the state-run. company had actually made a non-binding offer for a stake that would make it. operator of the Mopane block off Namibia's coast. She did not. detail just how much of the 40% Petrobras was looking for. The firm will not seek the complete 40% stake alone, the sources. said on condition of...

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....

Two people who were familiar with the incident said that the attack took place over the weekend in the Kayes area. The convoy was transporting heavy equipment from Bamako, the capital of Mali, to Allied Gold Sadiola Mine. The attack highlights the increased security risks and costs that mining companies in Sahel-led states, which are struggling to contain Islamist militants groups, face. Attacks on mining equipment are rarer than attacks on government or military convoys in Mali. Fortuna, a Canadian gold mining company, announced this month that it had recently decided to leave Burkina Faso's neighbor Mali due to increased...

On Friday, French President Emmanuel Macron acknowledged that he had left the country. Washington After talks with President Donald Trump this week, there is little hope that the European Union will avoid U.S. tariffs. Macron said that the Trump administration’s trade strategy, and in particular its understanding of value added taxes, was flawed. The U.S. President announced that his administration will announce a 25% duty on all imports of goods from China two days after Macron's meeting at the White House with Trump. European Union. Trump claimed that the bloc was created in order to "screw up" the United States....

Savannah Resources announced on Friday that it will immediately resume prospecting work at its lithium project located in northern Portugal, after the government assisted it in overturning a precautionary order filed by landowners. Savannah, a London-based company, believes that the Barroso Project's deposit of lithium-bearing spodumene is the largest in Europe. The latest prospecting results indicate a deposit larger than the 28 million metric tonnes of high-grade battery lithium previously estimated. The EU's goal to reduce its dependence on countries like China for strategic raw material could hinge on this project. Savannah was forced to stop prospecting at Barroso in...

The latest expedition outcomes at Savannah Resources' Barroso lithium project in northern Portugal indicate a bigger deposit than the formerly approximated 28 million metric lots of highgrade lithium, the company stated on Wednesday. Savannah, which wishes to build 4 open-pit mines in the area to draw out adequate lithium each year for about half a. million to a million electric lorry batteries, said last month. it would speed up the task to secure the very first commercial. output in 2027. The arise from the surface expedition which our team. carried out are truly exciting, the London-listed business's Chief. Executive Officer...

Savannah Resources is seeking Portuguese federal government approval for the compulsory purchase of land around its Barroso lithium mining project, in a. test of Europe's dedication to enhance its minerals industry. in spite of local opposition. The London-listed company said on Tuesday it would submit. the request for a so-called Statement of Public Utility to the. government. If approved, it would enable the company to. compulsorily purchase land around the job. In the meantime, all efforts to acquire friendly agreements. will continue, it said, adding that worths to be paid for the. land plots have actually been calculated by independent...

Londonlisted Savannah Resources has protected short-lived land access to a big portion of its future lithium mining site in northern Portugal, allowing it to carry out fieldwork and start the second stage of drilling, the company stated on Thursday. But Savannah, which is eager to supply Europe's electrical vehicle (EV) sector with its lithium mine in the Barroso area, is anticipated to continue to deal with opposition from locals and environmentalists in the kind of demonstrations, legal difficulties and refusals to offer land. The company has actually said Barroso's deposit of spodumene, a. lithium-bearing mineral, is the most considerable in...

Portugal's government plans to launch a longdelayed tender of lithium prospecting licenses in 2025 as it seeks to make the country a leading European supplier of critical metals for the green shift, it said on Tuesday. The center-right federal government, which took control of in April, said that the global tender for lithium prospecting will target 6 locations in the north and center of the country. The previous Socialist administration initially prepared an auction in 2018 however concerns about the environmental and social effect of lithium mining have caused numerous delays to the auction. Environment Minister Maria da Graca Carvalho...

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,...

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...

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...