United Kingdom

EDF extends the operation of Heysham 1 and Hartlepool by one year after favourable safety inspections, ensuring continuity of nuclear production and safeguarding more than 1,000 jobs.
Russia and Iran seek to strengthen their nuclear cooperation as the E3 activates the sanctions mechanism against Tehran, reigniting tensions over compliance with the 2015 Vienna agreement.

London, Paris and Berlin trigger sanctions against Iran, risking crude disruption

The three European powers activate the UN sanctions mechanism against Iran, increasing pressure on the country's oil exports as Tehran maintains high production despite Western measures.
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The United States Nuclear Regulatory Commission has granted a 40-year extension for the AP1000 reactor design certification, supporting its long-term construction domestically and deployment abroad.
Bp has awarded Baker Hughes a long-term service agreement for the Tangguh liquefied natural gas plant, covering spare parts, maintenance and technical support for its turbomachinery equipment.

CNOOC signs two gas exploration contracts in Indonesia with EnQuest and Agra

CNOOC Limited has signed two production sharing contracts with SKK Migas to explore the Gaea and Gaea II blocks in West Papua, alongside EnQuest and Agra.
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Vattenfall advances its nuclear project in Sweden by selecting two modular reactor suppliers, GE Vernova and Rolls-Royce SMR, for a potential installation on the Värö Peninsula.
Verra and S&P Global Commodity Insights join forces to build a next-generation registry aimed at strengthening carbon market integration and enhancing transaction transparency.

Masdar mobilizes USD 1.685 billion for energy projects through green bonds

Masdar has allocated the entirety of its 2023–2024 green bond issuances to solar, wind, and storage energy projects, while expanding its financial framework to include green hydrogen and batteries.
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Energiekontor launches a €15 million corporate bond at 5.5% over eight years, intended to finance wind and solar projects in Germany, the United Kingdom, France, and Portugal.
Peabody Energy abandons the acquisition of Anglo American’s Australian coal assets, triggering an arbitration process following the failure of a post-incident agreement at the Moranbah North mine.

GIP Acquires 49.99% Stake in Eni CCUS Holding in Strategic Carbon Deal

Eni sells nearly half of Eni CCUS Holding to GIP, consolidating a structure dedicated to carbon capture and storage projects across Europe.
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Equinix signed a preorder for 20 Kaleidos nuclear microreactors and a letter of intent for a power purchase agreement with ULC-Energy, reinforcing its energy supply strategy for its data centers.
Beijing opposes the possible return of European trio sanctions against Iran, as the nuclear deal deadline approaches and diplomatic tensions rise around Tehran.

Funds Push European Carbon Positions to Highest Since April

Investors hold 28.9 million EUAs net long as of August 8, four-month record level. Prices stable around 71 euros despite divergent fundamentals.
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An independent group calls for deep changes to speed up the approval of UK nuclear projects and cut costs linked to a system seen as too slow and complex.
GeoPura has acquired key assets from Green Hydrogen Systems and opened a subsidiary in Denmark to support its expansion in hydrogen electrolyser production and maintenance.

The global microgrid market is expected to reach $116.5bn by 2032

Driven by rising demand for energy resilience, the global microgrid market is projected to grow by 15.6% annually between 2025 and 2032, according to SkyQuest Technology Consulting.
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The American manufacturer is seeking a licence from the UK energy regulator to distribute electricity in the United Kingdom, marking its first move into this sector outside Texas.
The US oil and gas producer increased production and cash flow, driven by the Maverick integration and a $2 billion strategic partnership with Carlyle.
Statera Energy receives approval for a 400 MW battery energy storage system in Chickerell, Dorset, providing 2,400 MWh of capacity to boost the UK electricity grid.
Accenture acquires BOSLAN to optimize net-zero infrastructure investments, strengthening its engineering project management capabilities for the global energy transition.

Norwegian gas to North-West Europe: stability and maintenance to be expected

Norwegian gas exports to North-West Europe remained at a high level in July, at 10.02 billion cubic meters, despite limited maintenance work.
Iberdrola acquires 88% of UK company Electricity North West Limited for 2.5 billion euros, consolidating its presence in the UK.
European carbon permit prices hit a two-month high, boosted by rising natural gas prices, despite a bearish backdrop.

Hydrogen investments progress worldwide

Canada, Italy, Australia and the UK announce substantial funding for hydrogen projects, illustrating a shared commitment to a global energy transition.
Harmony Energy Income Trust announces the activation of the 35 MW / 70 MWh Rusholme project, marking a step forward in the UK's energy transition.
Shell saw its net profit fall by 8% in the first half of 2024, impacted by high depreciation and pressurized margins in refining and hydrocarbon sales.

BP commits to the development of four oil fields in Iraq

BP signs an agreement with Iraq to develop four oil and gas fields in the province of Kirkuk, with the aim of increasing energy production and diversifying resources.
Deputy Prime Minister for Energy Affairs and Minister of Oil, Mr. Hayyan Abdul Ghani, and BP's CEO, Mr. Murray Auchincloss
Rolls-Royce SMR Limited has completed Stage 2 of the UK Generic Evaluation and is preparing for the final phase. This marks a decisive step in the evaluation of its modular engine.
The UK has announced a 50% increase in its annual renewable energy auction budget, taking it to £1.56 billion. This decision aims to accelerate the decarbonization of the power sector by 2030, although carbon capture, next-generation nuclear and clean hydrogen technologies will not contribute significantly to this goal.

Profit reforms: North Sea investments under threat

The UK government's planned changes to the Enterprise Profit Levy (EPL) could put the brakes on investment in the North Sea oil and gas sector, according to a study by Wood Mackenzie.
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BP posted a significant fall in first-half net income, impacted by asset write-downs and lower refining margins, despite better-than-expected results.
BP approves the investment for the Kaskida oil project in the Gulf of Mexico, aiming to produce 80,000 barrels per day by 2029, with a potential of 10 billion barrels.

Viaro buys Shell and ExxonMobil North Sea assets

Viaro Energy acquires North Sea assets from Shell and ExxonMobil for $500 million. The acquisition includes 11 offshore assets and one exploration field.
Iberdrola, leader in renewable energies, announces a 64% increase in first-half 2024 earnings, supported by major asset sales and increased electricity production, particularly hydroelectric.
A study reveals that mining companies in Indonesia ignore methane emissions, exacerbating their environmental impact.

EDF Expects French Nuclear Generation to Increase in 2024

EDF expects French nuclear production to be at the high end of its forecast for 2024, thanks to improved reactor availability and significant operational improvements.
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Rolls-Royce receives GBP 4.8 million from the UK Space Agency to develop its micro-space engine, with a demonstration planned by the end of the decade.
Fluctuating natural gas prices are driving European countries to diversify their energy sources, increasing investment in renewable energies and nuclear power.