Spain

People with knowledge of the discussions said that Chinese investors Guoxin Guotong Fund and CNIC Corporation are considering selling their 33.3% share in Spanish 'gas network operator Redexis' as the country prepares to introduce a new framework for remuneration. Three sources confirmed that the two investors had begun a process of hiring?advisers in order to evaluate the sale. Two sources say that a?deal could value Redexis between 2 billion and 2.5 billion?euros (2.3-$2.9billion). * In 2018, the two Chinese investors bought?33.3% Redexis. According to the website of Redexis, pension funds?Arbejdsmarkedets Tillaegspension?and Universities?Superannuation Scheme own each 33.3%. Sources say that pension...

Spanish stocks slid Wednesday following fresh threats of a trade embargo from the White House. Other regional benchmarks also climbed after a brutal global sell-off that dragged stock prices to more than one-month lows amid fears about the Middle East conflict. The pan-European STOXX 600 index was up 0.6% to 607.92 by 0939 GMT. This follows two sessions in which the index lost more than 4% since Friday's record high. The benchmark index rose the most in the Technology and Healthcare sectors. The STOXX Volatility Index, Europe's fear gauge after four sessions of gains, has slipped 2.3 points. Spain also...

The Venezuelan government owes Repsol 4,55 billion euros ($5,37 billion), the Spanish energy group said in its report for the first-time on Thursday. Repsol is active in Venezuela since over 30 years, employs staff and is a major partner of the state energy company PDVSA. It is one of a few companies that have been granted a license to run oil and natural gas operations in Venezuela by the U.S. Treasury Department’s Office of Foreign Assets Control. Repsol received a permit in March of last year from the U.S. authorities allowing it to receive PDVSA oil as "payment for debt"....

Robert Harvey and Pietro Lombardi MADRID/LONDON - Spanish energy major Repsol appointed Juan 'Romero' as its global head for trading on Friday, according to a company spokesperson. The company announced that Juan Romero would replace Jose Antonio Correa who retired. The news was not previously reported. Repsol wants to expand its trading division in order to achieve its broader strategy, which is to transition from an oil and gas company into a multi-energy provider. This shift comes at the same time as it considers a reverse merge for its upstream business. Romero, who has a LinkedIn profile, worked for Repsol...

By America Hernandez PARIS, February 5, 2019 - French oil giant?TotalEnergies signed two agreements to supply Airbus with 3.3 terawatt hours of electricity. The companies stated that this amount would cover half the sites’ power needs in the next decade. Germany and Britain are key growth markets for Total. Total is focusing on markets that have deregulated electricity markets, where it can own and build renewable assets and sell directly to clients. The company has a'strategy' that includes owning gas-fired plants and signing supply deals to provide continuous power sourced both from renewables and gas assets. These contracts, which are...

Trafigura, a trading house, has sold its first shipment of Venezuelan crude oil, as part of an agreement between Caracas, Venezuela, and Washington for the supply of 50 million barrels of oil. The Spanish refiner Repsol is expected to receive a shipment of this quantity. Two sources stated that the cargo should be delivered to Repsol by mid-February. Trafigura and Repsol have declined to comment. The agreement would be one of the first to sell Venezuelan oil in Europe since the United States captured Venezuela's leader at the beginning of this month, and struck an agreement with Caracas for the...

Sources in the industry said that Trafigura sold its first cargo of Venezuelan crude oil as part of a 50 million barrel supply agreement between Caracas, Washington and Spain. The shipment was taken by Spanish refiner Repsol. Two sources confirmed that the cargo will be delivered in Spain to Repsol in February. Trafigura did not respond immediately to a comment request. Repsol refused to comment. This deal marks the first time that Venezuelan oil has been sold to Europe since the United States seized?the South American nation's leader earlier this month, and struck agreements with Caracas for the export of...

BBVA is the only major bank in the world with a significant 'presence' in Venezuela. Its chairperson said that BBVA was well positioned to 'take advantage of the new business opportunities created by the U.S. intervening in the country which has the largest oil reserves in the world. Venezuela has an interim government since the United States captured Nicolas Maduro in early?this?month. The situation presents potential business opportunities for international banks. However, analysts have warned that there will still be many challenges. Carlos Torres, BBVA's Carlos Torres, told Expansion that if greater stability is achieved in the future, they will...

Portuguese energy company Galp is in talks with private equity-backed Moeve to merge their refining and?chemicals businesses as well as fuel retail businesses. They announced the deal on Thursday. According to their non-binding contract,?Galp, Spain's Moeve and the United Arab Emirates state-owned investment firm Mubadala, as well as U.S. investment firm Carlyle Group plan to form two new companies. One would run 3,500 retail fuel stations, primarily in Spain and Portugal. It would sell more than 6 million metric tonnes of refined products per year. The other would run Moeve’s Huelva, Algeciras and Galp’s Sines oil refineries. Three facilities with...

TotalEnergies announced on Monday that it would merge its British North Sea oil assets with NEO NEXT Energy. This is a partnership between Spain’s Repsol, and HitecVision. Total said that it would take a 47.5% share in the renamed NEO NEXT+ as a trade for its assets. The company made the announcement in a Monday statement. Repsol will have a 23.625% stake in the venture while HitecVision holds the remaining 28.875%. The statement stated that NEO NEXT+ will have a production capacity of over 250,000 barrels oil equivalent per day by 2026. This deal is part of a recent trend...

Australian miner Fortescue is experiencing strong interest in its decarbonization-related offerings, Executive Chairman Andrew Forrest said in an interview, as he challenged U.S. President Donald Trump's claim that climate change is the "greatest con job" in the world. Fortescue, Australia's fourth-largest iron ore miner, has set ambitious targets for decarbonization. However, it was forced to abandon some green hydrogen projects. The fourth largest iron ore miner in the world, Fortescue, blamed the cancellation of an Arizona project on a shift away from green energy in the United States. Forrest, however, said that he would not give up, despite the criticisms...

The U.S. Court of Appeals granted Argentina's request on Friday to temporarily suspend a judge’s order that the country turn over its 51 percent stake in oil company YPF as partial satisfaction for a $16.1 billion verdict won by two investors. The 2nd U.S. The 2nd U.S. Circuit Court of Appeals, Manhattan, stayed U.S. district judge Loretta Preska’s June 30, 2010 turnover order until Argentina appeals. Argentina warned it could suffer irreparable damage and destabilize its economy if it sold its stake in YPF - the country's biggest energy company. The court of appeal did not give any reasons for...

Acerinox, a Spanish steelmaker, expects the trade uncertainty to 'fade' and that U.S. steel tariffs will continue to be beneficial to its business. This was stated by Bernardo Velázquez on Friday. According to a J.P. Morgan report from January, the?stainless-steel and high performance alloy producer earns around 90% of its profits in the U.S. Velazquez stated, "We're talking about situations in which we compete against countries who don't follow the rules of our game". Velazquez 'admitted tariffs are a double-edged blade, as they shield their clients from competition in the U.S., but the uncertainty created by President Donald Trumps 'wide...

Acerinox, a Spanish'steelmaker, announced a?net loss for the fourth quarter on Friday. The?results?were affected by low'seasonal demand'?for stainless-steel, tariff tensions, and price pressures. The company recorded a net loss in the third quarter of 47 million euro ($55 million), down from a net profit of 63 million euro a year earlier. Acerinox will?benefit from increased protection within the European Union, thanks to the newly enacted Carbon Border Adjustment Mechanism. However, the steelmaker stated that prices in Europe?trended down due to an increase in imports as a result of these measures. The European Commission also proposed additional safeguards to the industry....

Kraft Heinz halted its plans to split on Wednesday, joining a select group of companies that have retracted major corporate restructurings. It announced plans to split in two, one focusing on sauces and condiments and the other on groceries. Some major companies have cancelled plans to split. DUPONT DuPont, a manufacturer of industrial materials, announced in January 2025 that it would no longer'separate their water business and turn it into a publicly-traded company. Instead, they will'spin off its electronics business. VIRGIN O2 Marc Murtra, the CEO of Telefonica, announced that in July 2025 they had scrapped their plan to spin...

Aperam, a European stainless steel manufacturer,?reported on Friday fourth-quarter core earning slightly below the market expectations, but said?they will rise quarter-onquarter in the first third months of 2026. This sent its shares 8% higher. The European Union's newly enacted Carbon Border adjustment Mechanism (CBAM), as well as the European Commission proposal to reduce import quotas, will provide increased protection for European steelmakers. Aperam CEO Sud sivaji said that even though steel prices in Europe were low in 2025 the trade protection measures of the EU should lead to an increase in the use of production capacity. Aperam CEO Sud Sivaji...

Berkeley Energia, an Australian company, said that it had filed a memorial for a claim of?about $1.25bn against Spain before the World Bank's arbitration tribunal. This was up from a prior request. It is related to the Salamanca uranium blockade project. The mining group stated that its unit, Berkeley Exploration filed the claim at the International Centre for Settlement of Investment Disputes. It included background information on the project and the dispute as well as key witness statements. The company filed an arbitration request in May 2024, seeking $1 billion from the Spanish government for refusing to grant approval of...

Environmental groups have filed a lawsuit against the European Commission for its decision to grant preferential "strategic status" to Portugal's Barroso Lithium Mine Project, developed by London-listed Savannah Resources. The local residents' association United in?Defence of?Covas do Barroso, and ClientEarth Group said that they had filed the case with the EU Court of Justice because Brussels refused to reconsider the 2025 decision made under the Critical Raw Materials Act. In a statement, they said that "despite detailed evidence showing the project poses severe environmental, social and security risks", Environmental groups often oppose projects like Savannah's, which are viewed as key...

Savannah Resources, listed on the London Stock Exchange, announced that it was awarded a 110 million-euro grant ($128 millions) by?the Portuguese Government for its lithium mine in northern Portugal. This is a sign of official support for a hotly contested project. Around 82 million euro of the non-reimbursable grants will fund the initial capital expenses of the project, in Portugal's Barroso Region. The remainder of the grant is linked to performance milestones. The company stated that the estimated reserves of the Barroso deposit spodumene, a lithium-bearing mineral, are more than 39 million metric tonnes, making it Europe's largest deposit. The...

Investors piled into stocks in the defence industry on Monday after U.S. strikes on Venezuela prompted fresh geopolitical worries. After a holiday hiatus, the advance highlights expectations for structurally higher defense expenditures despite recent weakness in stocks of the sector driven by speculation about a possible ceasefire between Russia Ukraine. The pan-European STOXX 600 rose as much as 0.6% to 599.65. This is a new record high. The defense index rose by 3.3%, reaching its highest level for nearly three months. The technology and basic resources sectors also grew by 2.3% and 2.0% respectively. The German stock index also reached...

European stocks rose on Monday as investors bought up defense stocks following the U.S. military strikes against Venezuela. This sparked new 'geopolitical' concerns. The STOXX 600 pan-European index was 0.3% higher by 0810 GMT. As investors return from their New Year holidays, trading volumes should normalize. Defense?index grew by 2.7%, reaching its highest level in two months. The technology and basic resources also rose by 2.1% and 2% respectively. Investors continue to monitor the impact of the 'dramatic capture of Venezuelan president Nicolas?Maduro over the weekend by U.S. forces. Donald Trump announced on Saturday that he would temporarily place Venezuela...

Guinea and EGA talk to avoid legal battles over assets seized EGA loses GAC license due to row over alumina refinery Nimba Mining to increase bauxite production By Maxwell ?Akalaare Adombila DAKAR, 16 December - Guinea and Emirates Global Aluminium are in discussions over a 'possible bauxite agreement, which would see the company sourcing the 'aluminium /feedstock from Guinea’s state-owned Nimba Mining. Guinea's military government, following a dispute that lasted a year over the construction an alumina refining plant, revoked Guinea Alumina Corporation's licence in July. The company then transferred its mining assets to Nimba Mining. Sources, including a government...

Investors were cautious on Tuesday ahead of U.S. data and expectations of rate cuts in the largest economy of the world. By 0934 GMT, the pan-European STOXX 600 index was down by 0.2% to 562.06 point. The major regional bourses also fell, with Germany's DAX down 0.4%, and France down by 0.1%. The markets are awaiting the release of the producer inflation report as well as retail sales data in the U.S. These are among the first large datasets released after the longest government shutdown ever, which has left the Federal Reserve and the markets with a data hole. Fiona...

European companies who make copper products have warned that they will face critical shortages, unless the EU curbs exports of scrap metal as it did for aluminium. Investors attracted to higher prices in the U.S. based on expectations of tariffs have shipped large amounts of refined Copper there. According to a paper released by companies that account for over 90% of European scrap copper usage, the exports of scrap copper from the EU have risen by 31% in the last three years, with half of it going to China. Uwe Schmidt is a manager at Wieland, a German metal products...