Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.
Commodities trader Gunvor confirmed that the assets acquired from Lukoil will not return under Russian control, despite potential sanction relief, amid growing regulatory pressure.
Sanctions imposed by the U.S. and the U.K. are paralyzing Lukoil's operations in Iraq, Finland, and Switzerland, putting its foreign businesses and local partners at risk.
TotalEnergies has signed a ten-year agreement with Data4 to supply its Spanish data centers with renewable electricity, with a total volume of 610 GWh starting from January 2026. The agreement relies on a 30 MW capacity.
Centrales Nucleares Almaraz-Trillo has officially requested the extension of operations for reactors Almaraz I and II until 2030, challenging the original timeline for the shutdown of Spain’s nuclear fleet.
The gradual ban on Russian cargoes reshapes European flows, increases winter detours via the Northern Sea Route and shifts risk toward force majeure and “change of law,” despite rising global capacity.
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Swiss trader Gunvor will acquire Lukoil’s African stakes as the Russian company retreats in response to new US sanctions targeting its overseas operations.
RIC Energy and Siemens have signed a strategic agreement to develop industrial projects in renewable hydrogen, sustainable aviation fuel, and green ammonia, focusing on two key sites in Spain.
The Spanish oil group reported a net profit of €1.18bn over the first nine months of 2025, hit by unstable markets, falling oil prices and a merger that increased its debt.
Third-quarter results show strong resilience from European majors, supported by improved margins, increased production and extended share buyback programmes.
With a 5.6% increase in net profit over nine months, Naturgy expects to exceed €2bn in 2025, while launching a takeover bid for 10% of its capital and engaging in Spain’s nuclear debate.
Iberdrola has installed the high-voltage direct current converter station for its East Anglia THREE wind farm, marking a key milestone in a €5 billion project.
Portugal’s Galp Energia reported an adjusted net profit of €407 million in Q3, driven by higher refining margins and strong contribution from liquefied natural gas.
Voltalia's Q3 2025 revenue rises to €164.7mn, fuelled by a sharp increase in services activity, while energy sales decline due to currency effects and lower prices.
Endesa, Iberdrola and Naturgy have officially requested the Spanish government to delay the closure of the Almaraz nuclear power plant, originally scheduled for 2028, reigniting the debate on nuclear power's role in the national energy mix.
Altano Energy secured €81mn ($85.7mn) to construct two onshore wind farms and three photovoltaic plants in southern Spain, reinforcing its multi-technology generation strategy.
The European Commission is reviving efforts to abolish daylight saving time, supported by several member states, as the energy savings from the practice are now considered negligible.
US-based developer Janta Power secures funding to expand its vertical photovoltaic towers across data centres, airports, charging stations and critical infrastructure.
Increased reliance on combined-cycle plants after the April 28 blackout pushed gas use for electricity up by about 37%, bringing total demand to 267.6 TWh and strengthening flows to France.
Global photovoltaic tracker shipments rose 20% in 2024, driven by India and Saudi Arabia, pushing the United States to a less dominant market position.
Chinese manufacturer Astronergy will supply its ASTRO N8 photovoltaic modules for a solar project developed in Spain by engineering firm GES Siemsa, marking a strategic advance in the European market.
Madrid paid an arbitration award to Blasket Renewable Investments after more than ten years of litigation related to the withdrawal of tax advantages for renewable energy investors.
The Democratic Republic of Congo is set to replace its temporary ban on cobalt hydroxide exports with quotas, aiming to balance global demand, secure revenue, and stabilize market fluctuations.
Greenvolt Group finalised the sale of 28 solar and wind projects to Transiziona, valued at €195mn, bringing total asset sales to €530mn in 2025 as part of its pan-European strategy.
Enlight has secured $310mn in financing to convert Gecama into a 554 MW wind-solar-storage hybrid plant, making it the largest installation of its kind in Spain.
Despite the proclaimed urgency, European climate investments stagnate around €500 billion per year, far from the estimated needs of nearly €850 billion. New financial instruments are attempting to revive an indispensable momentum.
RIC Energy and Siemens have signed an agreement to develop industrial projects in Spain focused on renewable hydrogen, green ammonia and e-fuels, including technical solutions and financing mechanisms.
Grenergy plans to invest €3.5bn ($3.79bn) to expand hybrid platforms and standalone batteries in Europe and Chile, targeting 18.8 GWh of storage capacity by the end of 2027.
Spanish authorities and grid operator REE denied conducting any experiment on the national electricity network prior to the massive outage on April 28, the cause of which remains unknown.
Friedrich Merz confirmed that Germany would block any attempt to relaunch the Nord Stream 2 pipeline, despite internal calls suggesting a potential reopening of dialogue with Moscow.
Facing rising costs and industry hesitation, Tokyo is considering major regulatory adjustments to boost its ambitious offshore wind program, crucial for the country’s energy diversification.
Blue Sky Uranium’s Ivana mining project in Argentina could begin production within three years, backed by an initial $35mn investment and an annual output capacity of 1.5 million pounds of uranium.
Economically fragile Venezuela awaits a critical U.S. decision on renewing oil licenses granted to multinationals, a crucial issue that could significantly affect its recent economic recovery and financial stability.
The Ivorian government has approved a 25-year concession for an 85,934 MWh solar power plant in Katiola under a public-private partnership with Swiss energy firm JC Mont-Fort.
Following the major electrical outage in April, the Spanish and Portuguese governments are urging the European Commission to expedite infrastructure development for electrical interconnections between the Iberian Peninsula and the broader European grid, currently considered insufficient.
Iberdrola has signed an agreement to acquire the distribution, supply and energy generation activities of Electra del Maestrazgo, a family-owned company operating in Castellón and Teruel, for an undisclosed amount.
The International Court of Justice ruled on the validity of treaties between Gabon and Equatorial Guinea over three strategic offshore islets potentially rich in oil.
