Spain

Petrobras, the state-run Brazilian oil company, said that its board of directors had authorized it to sign a settlement agreement with Unigel Chemical Company to settle a legal dispute over two fertilizer factories in northeastern Brazil. Petrobras stated in a filing of securities that the agreement would restore Petrobras ownership over two fertilizer factories located in Sergipe state and Bahia state. Petrobras announced that the plants would resume operations after a process of bidding to contract for services to operate and to maintain them. The deal, however, still needs to be approved internally within Unigel, and it must also meet...

Ofgem, the British energy regulator, said that it did not think an electricity transmission project by National Grid Electricity Transmission & SP Energy Networks qualified to be exempted from penalties related delays. A joint venture between National Grid units and Iberdrola, a Spanish company, had asked for a 480 day exemption from penalties in relation to delays in the completion of the Eastern Green Link 1 due to global supply-chain issues and capacity shortages. The project includes subsea cables and underground cables that link Scotland with north-east England. It is an important part of Britain’s goal to decarbonise the electricity...

Spanish Foreign Minister Jose Manuel Albares announced on Monday that his government will defend the interests the Spanish oil company Repsol, after sources close to U.S. president Donald Trump claimed his government would revoke licenses granted to oil firms operating in Venezuela. Albares told Tele 5 that he had spoken to the CEO of Repsol and they were discussing and analysing their decision. He said: "We shouldn't rush until we have all the information about this decision. We need to know what it means, how it will affect us and the room for dialogue that exists in order to resolve...

The United States and Venezuela have a stuffed current history marked by damaged diplomatic relations, sanctions and allegations of criminal activity and coupplotting. U.S. President Donald Trump - who during his very first term used a maximum pressure sanctions policy against President Nicolas Maduro - referred to Maduro as a totalitarian throughout the 2024 U.S. campaign. The administration of former U.S. president Joe Biden reinstated broad oil sanctions in April after it stated Maduro failed to keep guarantees for a totally free election. It likewise imposed targeted sanctions on lots of authorities and increased rewards for the capture or conviction...

Energy costs lifted Spanish production rates in 2024 following a contraction in the previous year, the National Statistics Institute (INE) said on Friday. Production rates increased 2.3% last year after a 6.3%. decrease in the previous year, when energy rates fell from a. peak in 2022 triggered by the war in Ukraine, INE stated in its. regular monthly report. Rates of oil, gas and electrical power increased 7.5% in Spain in. 2024 after contracting by 20.6% in 2023, INE stated. Following chaos on energy markets in 2021 and 2022. triggered by the COVID pandemic and then the start of the...

Brazil's staterun oil company Petrobras is near a deal that would permit it to resume management of 2 fertilizer plants in the northeast of the nation that had actually been leased to chemical firm Unigel, two sources with knowledge of settlements told Reuters. Under the brand-new arrangement, Petrobras would manage the plants, while Unigel would be worked with to run them and offer maintenance for 5 years, stated the sources. It was not immediately clear just how much Petrobras would spend for the services. Unigel has actually already agreed to the deal, but Petrobras' management is awaiting a report by...

Stellantis and Chinese battery maker CATL will invest 4.1 billion euros ($ 4.33 billion) in a factory making electrical vehicle batteries in Zaragoza in northern Spain, they said in a. declaration on Tuesday. They have set up a 50-50 joint venture for the job and. expect to start production by the end of 2026. The capability at the plant might reach 50 gigawatt hours,. depending upon the advancement of the market for electric lorries. in Europe and on assistance from European and Spanish authorities,. they said. The endeavor would bring innovative battery production to a. producing website that is currently...

Brazil's federal government and numerous of its biggest industrial banks are dealing with a strategy to speed the divestment of engineering group Novonor's majority stake in Braskem, Latin America's biggest petrochemical company, according to six individuals acquainted with the talks. Novonor, which altered its name from Odebrecht after a major graft scandal almost a decade ago, has been checking out a sale for years but stopped working repeatedly to get a deal throughout the line. The group has actually been under pressure to disinvest because, at the height of the Car Wash corruption scandal, it installed its Braskem shares as...

After a year of canceled projects, damaged turbines, and abandoned lease sales, the worldwide offshore wind market no longer has much opportunity to hit the lofty targets set by federal governments in the U.S., Europe and somewhere else, marking a. obstacle for efforts to combat climate change. The technology forms a huge part of federal government techniques to. advance renewable resource and decarbonize the global power. industry due to the fact that it can produce large amounts of electrical energy. near largely populated coastal regions. Missing targets by a. large margin will leave a gap that might be hard to...

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...

The U.S. federal government sided with Argentina in urging a federal judge not to force the cashstrapped nation to quit its 51% stake in oil and gas business YPF to partially satisfy a $16.1 billion court judgment. In a Wednesday night letter, called a declaration of interest, to U.S. District Judge Loretta Preska in Manhattan, the Department of Justice said it has actually long argued that U.S. courts can not order the seizure of foreign sovereign home situated outside the United States. It also stated it would break sovereign immunity to need Argentina to turn over the shares to 2...

The U.S. government sided with Argentina in prompting a federal judge not to require the cashstrapped country to quit its 51% stake in oil and gas company YPF to partially please a $16.1 billion court judgment. In a Wednesday night letter to U.S. District Judge Loretta Preska in Manhattan, the Department of Justice stated it has long argued that U.S. courts can not order the seizure of foreign sovereign property located outside the United States. It likewise stated it would break sovereign immunity to need Argentina to turn over the shares to two financiers represented by litigation funder Burford Capital,...

The Chinese embassy in Spain reported that Stellantis, its Chinese partner Leapmotor and their Spanish plant plan to invest $200 million in the factory. A person with direct information on the matter had said Spain would be the best place for producing the B10 electric cross-over car for the European market starting in 2026. Both companies are looking for a location in Europe where they can produce the model that made its debut in Europe in September. Stellantis factories in Germany or Slovakia were also under consideration. The Chinese embassy stated that the factory in Zaragoza is where they intend...

A person with first-hand knowledge of the situation said that Stellantis, along with its Chinese partner Leapmotor, considers Spain to be the best candidate for producing the B10 electric cross over on the European market starting in 2026. Both companies are looking for a location in Europe where they can produce the model that made its debut in Europe in September. Stellantis factories in Germany or Slovakia were also under consideration. The person who refused to be identified said that both firms have increased their efforts to procure more components from Spanish suppliers to qualify for government subsidies at the...

According to preliminary government data, seen on Tuesday, India's finished-steel imports from China and South Korea, as well as Japan, reached a record in the first ten months of this financial year. India, which is the second largest crude steel producer in the world, reported that it was a net steel importer and shipped record amounts of finished steel between April and January. The data revealed that South Korea imported 2.4 million tons of finished steel, an increase of 11.7% over the previous year. South Korea was India's largest exporter of this alloy during that period. The total amount of...

The Trump administration has delayed the implementation of new tariffs against Mexico and Canada for a month. The reprieve will end on Tuesday. The U.S. Commerce secretary Howard Lutnick confirmed that the tariffs against Canada and Mexico will take effect on February 2. Donald Trump, however, will decide if the proposed tariff rate of 25% is maintained. Canada exports mainly crude oil, other energy products and cars and car components as part of North American auto manufacturing chains. Mexico exports a variety of goods from the auto and industrial sectors. What top brokerages say about the impact of tariffs on...

The European share market reached a new high on Tuesday, as defence stocks rose on the prospect of higher military spending in the area. However, a Capgemini led drop in IT shares capped the gains. The STOXX 600 pan-European index rose by 0.2%, to a new record of 555.42. The aerospace and defense index jumped 1%. After European Commission President Ursula von der Leyen announced that the Commission would propose an exemption for defense spending from EU budget limits, the sector grew by 4.6% Monday. This is its largest one-day increase since Russia invaded Ukraine, in February 2022. Defense stocks...

The deadline for President Donald Trump to impose tariffs is fast approaching, while the U.S. releases data on jobs and the markets gauge the new AI landscape before major tech companies report. Bank of England is deciding on interest rates, and lenders across Europe are also publishing their results. Kevin Buckland, Saqib Ahmad, Lewis Krauskopf, and Amanda Cooper, in London, provide a guide to global markets for the coming week. 1/T DAY Everyone wants to know the severity of Trump's tariffs. From currency traders and bond investors to Fed officials and other foreign powers. Trump's promise to impose 25% tariffs...

Shares in some big European carmakers fell sharply on Tuesday on unpredictability over possible new tariffs after Donald Trump took office as U.S. President. Trump did not right away enforce tariffs as previously assured however stated he was thinking about enforcing 25% tasks on imports from Canada and Mexico on Feb. 1 over prohibited immigrants and fentanyl crossing into the United States. European carmakers such as Stellantis and Volkswagen have centers in Mexico which produce cars and trucks for the U.S. market. Stellantis shares fell around 2% by 0813 GMT, while the broader European vehicle sector was down around 1%,...

Venezuela attorney general of the United States Tarek Saab said on Monday his office has actually asked for an arrest warrant and Interpol red notification versus opposition figure Leopoldo Lopez, who spent years in detention in Venezuela and has actually lived in Spain given that 2020. Lopez has actually slammed the federal government in current days amidst opposition protests to President Nicolas Maduro's third inauguration. Lopez stated on X on Saturday that a proposal from former Colombian President Alvaro Uribe that military intervention was required in Venezuela ought to be seriously. considered. Maduro was sworn in for another six-year term...

Europe's STOXX 600 opened on a soft note on the final day of an unstable week, with financiers assessing France's political uncertainty and awaiting euro zone inflation data to see if a larger European Reserve bank rate cut is on the cards for December. The pan-European main stock index was flat at 0815 GMT, bracing for its 5th weekly decline in six. The index was still on track for a modest month-to-month gain in three, even though the possibility of Europe being a U.S. tariff target and France's political problems have actually dampened investor belief towards the bloc, to name...

Canada's McEwen Copper is hunting for financiers to raise $2.5 billion to move on with building of Los Azules copper mine in Argentina, company Vice President Michael Meding stated in an interview. McEwen Copper, part of McEwen Mining, is among numerous international companies seeking to draw out copper in the mountains of northern Argentina, an area mostly untapped for the product due to the nation's hard capital controls and volatile economy. A reward program under President Javier Milei is now spurring activity, including from significant gamers such as miner BHP, after the nation's only copper mine closed in 2018. Los...

Heidelberg Materials has actually struck an offer to buy U.S. business Giant Cement Holding and its subsidiaries for $600 million, it said on Thursday, the current acquisition by the German company to expand its grip in the United States. The deal, to be finished in the first quarter of 2025, is expected to contribute around $60 million in incomes before interest, taxes, devaluation and amortisation (EBITDA). in the first year of operation, before significant additional. synergies, Heidelberg stated in a declaration. The acquisition ... will even more enhance our cement. footprint in the growing Southeastern U.S. and New England. markets,...

Spanish steelmaker Celsa has sold its mills in Britain and Norway to Se.ven GI, the Czech mutual fund said on Thursday, validating an earlier report on news site El Confidencial. A spokesperson for Se.ven GI, owned by billionaire Pavel Tykac, decreased to state just how much the fund had actually spent for the assets after El Confidencial, citing market sources, said the cost tag was 600 million euros ($ 632.10 million). Celsa, Spain's biggest privately owned industrial group, has been working on offering its foreign possessions considering that February under a restructuring strategy. However, its Polish system, its biggest foreign...