Mexico considers increasing fracking in order to reduce its dependence on US gas.
The Financial Times reported that Mexico had been talking to private companies about increasing its reliance on U.S. natural gas in the face of increased trade tensions between both countries. The imports of natural gas, almost exclusively from the United States (72%) are the main sources of Mexico's total consumption. The FT reported that the discussions are still at a very preliminary stage. Four executives who were privy to the discussions said that the companies are interested in making investments. RBN Energy is a market advisor service that wrote in a note recently that U.S.
Vucic: Serbia will lose access to oil imports when the deadline for sanctions looms.
Serbia may lose access to essential oil imports as of Friday, after discussions to stop the imposition by the United States of sanctions on its sole oil refinery failed. President Aleksandar Vucic stated this in an interview published. The waiver of sanctions expires at midnight. If it is not extended, NIS, which is owned by Russia's Gazprom and Gazprom in majority, may face a reduction in crude oil supply. NIS is the sole oil refinery in Serbia, with a capacity of 4.8 millions tons per year. This facility covers most of Serbia's energy requirements. Vucic, quoted in the Financial Times of Britain on Thursday, said he didn't expect a deal to be made at the last minute.
Wood Group extends deadline for deal negotiations with Dubai's Sidara. FT reports
The Financial Times reported that the British oilfield engineering and services firm Wood Group agreed to extend its deadline for talking with Dubai's Sidara about a potential takeover after an unsuccessful attempt six months earlier. Reports citing sources familiar with the issue said that the extension would give time to Deloitte's independent review of Wood’s Projects Division. Wood Group refused to comment on the article and Sidara didn't immediately respond to an inquiry for comment. According to UK regulations, Sidara has until Monday afternoon to submit a firm bid or withdraw unless both parties agree on a delay, FT reported. The two parties met last month.
US loans TotalEnergies almost $5 billion for Mozambique's gas project. FT reports
Financial Times reported that the Trump administration released nearly $5 billion to fund a project in Mozambique by France's TotalEnergies for liquefied gas (LNG). Estevao Palae, Mozambique’s Minister for Energy, told Financial Times that the U.S. Export-Import Bank has reapproved a loan of $4.7 billion for the project. Before lifting the force majeure that has been in effect since 2021, you must obtain re-approvals for loans from the United States and UK export credit agencies, as well as the Dutch Export Credit Agency. After Islamic State fighters took over the town of Palma in northern Cabo Delgado…
Financial Times – March 13,
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Intel named Lip-Bu Tan, a former board member who has worked in the chip industry for many years, as its new CEO on Wednesday. Pat Gelsinger was ousted by the board of the struggling U.S.-based chipmaker back in December. Keir starmer, the British Prime Minister, will pledge on Thursday to reshape government services by tackling a "cottage-industry of checkers and blocks" and using AI to achieve efficiencies. However Downing Street has insisted that he won't take a "chainsaw" to state. The U.S.
FT reports that UK Treasury is considering cutting funding for GB Energy
The Financial Times reported that Britain's Treasury Department is considering cutting funding plans for the state-backed energy company GB Energy during a review of spending scheduled for June. The British government created GB Energy last year with a budget of 8.3 billion pounds (10.73 billion dollars) and envisioned it as its main tool for driving investment in renewable energies. The Crown Estate, which manages the public holdings of the British monarchy, was to be partnered with the company to lease seabeds for 20-30 gigawatts by 2030. A request for comment was not immediately responded to by the UK Treasury or Britain's Energy Department.
World Bank and other lenders criticise Pakistan’s energy negotiations
A group of eight development financing institutions warned that Pakistan's unilateral renegotiation will damage investor confidence in the clean energy sector and harm its long-term prospects. Last year, Pakistan announced that it would renegotiate contracts with independent energy producers in order to reduce "unsustainable" electric tariffs. In a letter, the International Finance Corporation of the World Bank, the Asian Development Bank (ADB), the Islamic Development Bank (IDB) and five other institutions stated that Pakistan renegotiated wind and solar energy contracts with independent producers in order to reduce energy costs "in a non-consultative way".
Wood Group, UK's Wood Group, re-enters into takeover negotiations with Dubai's Sidara
Wood Group, a British company, said Monday that it had received a new approach from Sidara regarding a potential takeover offer. The Dubai-based group previously failed to purchase the struggling oilfield engineering and services firm six months earlier. The Financial Times reported that the company was reopening talks. Shares of the London-listed firm soared by more than 34%. The FT reported that Sidara has a new approach after the recent collapse of Wood Group shares. Two people who were close to the discussion said this. Since the beginning of the year, Wood Group shares have lost over 60% of their value. Wood Group has forecast negative cash flow in its next year.
Financial Times - 24 February
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Britain and India are resuming talks to reach a long-awaited deal on trade. The negotiations had been delayed due to the elections held in both countries. The UK Government has committed to invest 200 million pounds ($253,26 million) in projects at Grangemouth, as the closure of Scotland's sole oil refinery is planned for the next few months. This will result in redundancies among the workers. BMW has suspended a 600-million-pound investment plan for the production of electric Minis in Oxford.
Glencore rejects an approach to its DRC operations in the last year
Glencore, a commodity and mining trader, said that it rejected a non-invited approach by an unknown buyer at the end of the last year for its operations in Democratic Republic of Congo. In an email, a spokesperson stated that Glencore had not hired any advisors or banks and was not conducting a sale for its operations in DRC. The Financial Times had reported earlier in the day that the miner considered selling all or part of its Congolese assets, and held preliminary discussions regarding its copper and coal mines in this region. Glencore refused to identify the buyer when Glencore was contacted by. The FT report boosted the FTSE 100 shares by as much as 4,8%.
Financial Times reports that Elliott has a $5 billion stake in BP.
The Financial Times reported that Elliott Management, an activist investor, has revealed a nearly 5% stake in BP. This makes it the third largest shareholder of the oil company, citing sources close to the issue. The FT reported that Elliott was trying to get the British oil company, British Petroleum to reduce spending on renewables as well as make large divestments. BP shares dropped 1.3% to 462.5p after the FT article. A BP spokesperson refused to comment. Elliott Management didn't immediately respond to our request for a comment. Murray Auchincloss, the CEO of BP, is on a quest to revive BP’s performance and increase profits.
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and the depletion of gas storage tanks boosted this week's benchmark European gas price to a 2-year high of €58 per megawatt-hour (MWh). This has increased concerns over the higher energy costs European firms pay compared to their competitors in the U.S. or China.
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and the depletion of gas storage tanks boosted this week's benchmark European gas price to a 2-year high of €58 per megawatt-hour (MWh). This has increased concerns over the higher energy costs European firms pay compared to their competitors in the U.S. or China.
European energy industry urges EU to not cap gas prices
The European Union's gas and trading industries are urging it not to cap the gas price, while Brussels is looking for ways to protect businesses and consumers from rising energy prices. The European Commission has been preparing a set of measures that will be presented on 26 February to help improve the competitiveness of industries and lower energy prices. The cold weather and the depletion of gas storage tanks boosted this week's benchmark European gas price to a two year high of 58 euro per megawatt-hour (MWh). This has increased concerns over the higher energy costs European firms are facing, in comparison with their competitors in the U.S. or China.
Financial Times – February 12,
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. BP told 39,000 employees their cash bonus would be only 45% of the target amount after a poor year in financial and operational performance. Gavin Isaacs, the chief executive officer of Ladbrokes' owner Entain has resigned after only five months. Novartis agreed to purchase Anthos Therapeutics for up to $3.1billion after Blackstone Life Sciences had funded the development of Anthos' treatment to prevent strokes and serious blood clots. EU officials said they would take "firm and proportionate" countermeasures against U.S.
Financial Times - Jan 17
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Owners of France's Natixis Investment Managers, and Italian insurer Generali, are nearing an announcement of an agreement for a joint venture in asset management that will bring together the two biggest European names. France's Bureau Veritas has ended merger talks with FTSE group Intertek and pursued a 37.91 billion pounds ($31.91 billion) merger with Swiss rival SGS. This shows the desire to consolidate the certification sector.
Financial Times - Jan 15
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. The French state auditor said that the French nuclear company EDF shouldn't make a final decision on its investment in Britain's Sizewell C project until they have reduced their exposure to Hinkley Point C, its other British project. Insolvent councils are threatening to derail the most comprehensive overhaul of local government that England has seen in decades. Before finalising an agreement with Mauritius, Britain will wait for Donald Trump to approve it. The deal concerns the future of the strategic UK-U.S.
Qatar will stop EU gas exports if fined for due diligence, reports FT
In an interview with the Financial Times published on Sunday, Energy Minister Saad Al-Kaabi said that Qatar would stop shipping gas into the EU if the member states enforced a new law aimed at cracking down against forced labour and environmental damages. Corporate Sustainability Due Diligence, approved in this year, is a directive that requires large companies operating within the European Union, to verify whether their supply chain uses forced labour, or causes environmental damage, and take action, if necessary. The penalties include fines up to 5% global turnover.
Financial Times - Dec 2
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. The UK government will announce plans for a new council of defence industry leaders and business in an effort to enhance collaboration between Whitehall and technology companies, smaller start-ups as well as giants within the sector. The Chancellor of Duchy of Lancaster Pat McFadden denied that Keir's Starmer's plans to set new targets for the government's next week are a "reset" and defended UK Prime Minister David Cameron's decision to not include a limit on inward immigration.
French and Benelux stocks - Factors to watch November 26
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. Google has proposed further changes to its European Search Results to comply with the EU Digital Markets Act. Alstom, a French manufacturer of rail infrastructures, announced on Monday that it had renewed its contract with the Denver International Airport to provide automated people mover systems for 7 years at a cost of 218 million Euros ($228,4 million). HOME INVEST BELGIEUM: Belgian property company Home Invest Belgium launched a share-buyback program on Monday for a maximum of 5.625 millions euros.
