Western Europe

The Dutch court rejected Glencore’s bid to buy back Access World Group, its former logistics unit through a private transfer. Opponents said that the price proposed was too low. According to a ruling of the Amsterdam District Court dated July 2, which was released last week, Glencore, a London-listed company, could not transfer Access World Shares?to Tironimus. Hearing was held on 21 May. The court stated that Glencore did not demonstrate that a public auction was harmful. The court added that Tironimus might participate as a bidder at a public sale that could also identify other potential buyers. Glencore sought...

Andrea Cerulli was driving his car to work in the port of Voltri on the western edge of Genoa when the Morandi Motorway Bridge collapsed under him. He was one of 43 people who died in the worst infrastructure disaster in Italy in years. Cesare Cerulli, son of Cerulli, has spent the last eight years completing high school. He also passed his final exams, and will be starting university in the fall. When his father died, he was only 10 years old. He is now an adults. Cesare, along with dozens of relatives of victims, will return on July 16...

The container carrier, operated by CMA CGM, refuelled?with the ethanol during a port stop in Santos, Brazil. This is the first time this type of fuel has been used to move the engines of deep-sea vessels in Brazil. CMA CGM IRON received 650,000 liters anhydrous alcohol from Brazilian ethanol and Sugar merchant Copersucar in a refueling service provided by Danish marine services group Bunker One. The CMA vessel, one of the 12 vessels operated by the group, is equipped with a trifuel engine. This engine can run on any combination of bunker fuels or methanol. The CMA vessel is a...

Drones are cheap, mass-produced and have revolutionized modern warfare. They expose critical energy infrastructure to be the Achilles heel of modern economies. Unmanned aircraft have proven to be able to evade air defences on the battlefields in Ukraine, Russia, and?the Middle East. This has made oil refineries and power stations as well as export terminals, pipelines, and even power plants, prime targets. The implications for the energy sector are huge. Drones that cost a few hundred dollars or a few thousand dollars each can threaten facilities that have taken decades to build and billions to invest in. This shifts the...

Vinci Airports is a subsidiary of France’s VINCI Group. It expects the growth of air traffic to slow down through the end of the year, as high jet fuel prices, and geopolitical tensions, weigh on the aviation sector. However, it does not see major airline capacity reductions and is still open for expansion in Mexico and other places. Vinci Airports CEO Remi Mamon de Longevialle said during a trip to Mexico that there was "new volatility" in the markets, citing tensions between the Middle East and Asia. "Traffic may grow a bit slower than last year." Maumon de Longevialle, the...

The latest heatwave in Europe was a painful reminder that climate change is not just about cutting emissions. Temperatures in parts of Western Europe reached 40 degrees Celsius, or 104 degrees Fahrenheit. Roads buckled, rail tracks warped and traffic lights malfunctioned. Transport operators also imposed speed restrictions or cancelled services. According to the U.N. Economic Commission for Europe, transport infrastructure in the region is more exposed to thermal stress and deformation of rails as heat extremes increase. Decarbonisation has dominated Europe's narrative on infrastructure spending for years. Investors have focused on windmills, solar panels and electric vehicles. A different infrastructure...

The latest heatwave in Europe was a painful reminder that climate change is not just about cutting emissions. Temperatures in western Europe soared to over 40 degrees Celsius (104 degrees Fahrenheit). Roads buckled, rails warped, traffic signals malfunctioned, and transport operators implemented speed limits or cancelled services. According to the U.N. Economic Commission for Europe, transport infrastructure in the region is more exposed to thermal stress and deformation of rails as heat extremes increase. Since years, Europe’s infrastructure spending has been dominated?decarbonisation. Investors have focused on windmills, solar panels and electric vehicles. A?different story? of infrastructure is emerging as it...

BENGALURU - The state's chief Minister said late Thursday that the MSC Group had not consulted Kerala about its $1.4 billion investment planned in Vizhinjam Port in partnership with Adani 'Ports' and 'Special Economic Area'. Adani Ports announced on Tuesday that MSC will acquire a 49 percent stake in the Vizhinjam port. This is expected to be 'the largest private foreign investment in India’s port infrastructure. The world's largest container shipping company, based in Switzerland, is?MSC. "I conveyed the State Government's strong resentment to the management of?Adani Ports and Special Economic Zone Ltd", Chief Minister V.D. Satheesan?stated?in a?post?on X. The...

According to documents and officials, Europe has taken more aggressive action against tankers that falsely use the Cameroon flag registry for transporting?Russian oil. This includes boarding vessels on sea. The EU has expanded its'mandate for Operation IRINI in the Mediterranean on June 8, allowing it to stop, board, detain and inspect suspected Russian "shadow fleet" ships. Moscow condemned the move. Russia has used these tankers to avoid sanctions, by sailing them under different flags to conceal their true ownership, cargo, and movements. Two European military sources claim that three tankers, the Nelsa and the Oneiroi, which were boarded by IRINI...

According to data from tanker monitoring and documents of the state-run PDVSA energy company, Venezuelan oil exports dropped slightly last month?to 1.24 million barrels per daily from 1.24 bpd in may?as a result of two deadly quakes causing?minor delay at terminals operated. The vast PDVSA infrastructure was mostly unaffected by the twin earthquakes, which left nearly 2,000 dead and hundreds of buildings damaged according to official statistics. The power issue must be resolved before all the oil refineries, including El 'Palito, can resume operation. Documents show that the main oil terminal for the state-owned company in the eastern part of...

The finance ministry announced that Uganda had'signed a EUR110.5m ($126.1m)?agreement? with the local unit of international lender?"Standard Chartered? to help finance the building of a new road in the northeastern region of the country. In a late-night post on X, the Ministry said that a new 115.8 km road would help "reduce transportation costs" and strengthen regional trade. * The road will be built in Karamoja in northeastern Uganda, near the Kenyan border. In recent years, the area has attracted a rush in investor interest because of its vast mineral potential. The Ministry said that the road would 'also support...

Here are some of the main factors that could affect Swiss stocks on Tuesday: COMPANY STATEMENTS MSC?GROUP Adani Ports and Special Economic Zone in India announced on Tuesday that Switzerland’s MSC Group would acquire a 49% stake in the Vizhinjam Port for $1.4 billion. This, it claimed, was the largest private foreign investment in port infrastructure in India. ECONOMY *June Swiss KOF indicator is due at 0700 GMT. *Swiss May Official Reserves Assets due at 0700 GMT. (Reporting by Zurich newsroom and Gdansk newsroom) |1|For Top News ?in a multimedia Web format on Eikon visit: ?https://bit.ly/2NDFd6g FOR RELATED PRICES, NEWS...

At least two people were arrested on suspicion of starting the fire in a forest near Paris. Laurent Nunez, Interior Minister, said on Monday evening that "it is not under control." The main fire in Fontainebleau, and a second one that began nearby on Monday afternoon, had scorched over 1,300 hectares (3.212 acres). Nunez said the fire was only a few kilometers away from the Palace of "Fontainebleau", which explained the deployments of significant resources, such as water-carrying aircraft and helicopters. Canadair's aircraft skimmed across the River Seine on Monday to fill up their fuel tanks in an attempt to...

Ukraine's Deputy Prosecutor-General denied Kyiv's role in the 2022 explosion of the Nord Stream Gas Pipelines and suggested forming a joint investigative team with Germany. Germany suspects Ukrainian state entities are behind the explosions. The explosions occurred months after Russia invaded Ukraine in February 2022. They damaged the Nord Stream 1 pipe, a crucial route for?Russian exports of gas to Europe. In a press release, the Prosecutor's Office said that, according to the findings of the investigation, there was no evidence that Ukraine or its officials or officials had been involved in the explosions that occurred in the Baltic Sea...

Offshore -Norway, an industry group, said on Thursday that a strike by oil service workers has resulted in historical and future production losses for operators worth 1.6 billion Norwegian crowns (approximately $163.62 million) this year. About?1,000 Norwegian Oil Service Workers were locked out in late June as a result of a?strike being carried out by several hundred members from Norway's Safe Union. Offshore Norway reported that five mobile drilling rigs and five fixed offshore installations, as well as?one well-intervention vessel, had suspended all drilling and well-operations. It also said that four inspection, maintenance, and repair (IMR),?vessels, were affected. The production...

90% of Tulsans can expect to be able order deliveries by autonomous drones within the next 12 months, said Manna on Wednesday. The company has begun a push in the American Southwest it believes will "be the battleground" for this?fast-growing sector. Executive chairman Kenny Jacobs said that the Irish-founded startup, based in Oklahoma City, will begin flying orders for partners like DoorDash, McDonald's, and Uber Eats by mid-2027. It will operate 40 bases throughout Oklahoma's second largest city. Jacobs said at the launch of the first full-scale U.S. operations. The technology has been proven. It's now about commercial scalability, and...

Kyiv’s military and local authorities in Russia confirmed that Ukrainian drones attacked Russia’s largest refinery, Omsk in Siberia this week. It was one of Ukraine’s longest-ranged attacks in the war. Fuel shortages are worsened by the drone attacks in Russia. People have reported higher prices and longer queues at filling stations throughout most regions. Here is a list of recent attacks and their impact. OMSK Ukrainian drones attacked the Omsk refinery 'on Monday causing a fire. There were no injuries. Governor Vitaly Khotsenko said that Russian air defences destroyed the majority of drones used in the attack. The extent of...

Prices of oil rose Tuesday after reports of an attack on vessels near the Strait of 'Hormuz rekindled fears that shipping along the vital energy transit route could be disrupted. Brent crude futures rose 89 cents or 1.24% to $72.88 per barrel while U.S. West Texas intermediate crude gained 71 cents or 1.04% to $69.26 per barrel at 0939 GMT. Ole Hansen, analyst at Saxo Bank, said: "This morning's dominant theme is the shooting of a ship in the Strait of Hormuz." This is bringing back some geopolitical risk premium into the price. It's not much compared to what we've...

The Kremlin stated on Friday that the European Union must consider Ukraine's suspected role in blowing up a Nord Stream gas pipeline in September 2022, when deciding whether or not to grant EU membership for Kyiv. Dmitry Peskov, the Kremlin's spokesman, was commenting on German federal prosecutors charging a former Ukrainian officer with being involved in the blasts. The man, identified only as Serhii, was accused of co-perpetrating a war crimes and acting for?Ukrainian government entities. The authorities in Kyiv stated on Thursday that they didn't have enough information about the case to be able to answer in detail the...

An industry source said that oil production has been restored at the Karachaganak gas field in Kazakhstan, amid increasing natural gas production and increasing supplies to the Russian gas plant just across the border. After the drone attack by Ukraine on Orenburg's gas processing plant on June 24, Kazakhstan cut?gas production? at its Karachaganak Oil and Gas Condensate Field. The oil and gas output of Karachaganak is closely related, so the field cannot produce much if its production of gas is low. In an emailed comment, the?ministry said that gas supplies had already resumed on?June 26 and were flowing at...

German Federal prosecutors announced on Thursday that a 'Ukrainian citizen linked to the Nord Stream Pipeline explosions was?charged as a 'complice of a war crime and disruption of public services. He also faces charges for causing an explosive to occur, and destroying buildings. Serhii, or K as the suspect, is known to German privacy laws, is suspected of acting for?Ukrainian government entities along with other military staff, in order to?destroy pipelines in the year 2022. Prosecutors alleged that the goal was to stop gas deliveries via pipelines permanently and to prevent Russia from using revenue from the natural gas trade...

German federal prosecutors 'have filed charges against a Ukrainian citizen over 'the Nord Stream pipeline explosions, ARD, Sueddeutsche... and Zeit,?German media outlets reported on Wednesday. Federal prosecutors declined comment. The explosion of the Nord Stream gas pipelines that carried Russian gas into Europe was a major flashpoint between Moscow and 'the West. It came just months after Russia invaded Ukraine in February 2022. According to ARD, prosecutors accuse a Ukrainian national known as Serhii K - according to German privacy laws - of 'attacks on civil energy infrastructure, causing explosions and destroying structures. The suspect was detained in Italy's Rimini...

Oil tankers behave as if the Strait of Hormuz was reopening, even though the waterway is only partially navigable. The signals are clear, from ship tracking data to the freight rates: Owners and charterers have moved early to position their vessels for a possible return to Gulf exports. The gap between expectations and reality is still wide. This leaves the global oil transportation system on a fragile "middle ground" between crisis and recovery. Signs of Recovery Real-time vessel movement is the most obvious?evidence? of adjustment. The number of tanker transits in Hormuz has begun to increase. During the conflict they...

Alice Weidel, leader of the far right Alternative for Germany (AfD), said that Germany should stop a boycott against Russian oil and gas in order to boost its flagging economy. She was describing the ambitions of her party to become the next national government. Weidel stated that the AfD could win two important federal state elections in the next few months. He described them as a milestone to securing a?post? of German chancellor by the time the 2020 national elections are due. The success of Made in Germany was due to the cheap energy that Russia provided. Weidel stated that...