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Spain and Portugal were returning to some semblance of normality early Tuesday, with many questions remaining about what caused one of Europe’s worst blackouts in years across the Iberian peninsula the previous day. Spanish power supplies were back to nearly 100% capacity at around 7 a.m. in Madrid, and urban trains were slowly returning to regular service, according to operators.  Portugal said power has been restored for all users, and grid operator REN said the network is “perfectly stabilized.” Service had already returned to homes across large parts of greater Lisbon by Monday night.  As the search for answers continues,…

Indian refiners have been boosting US oil purchases before trade talks between the two nations next month.Around 11.2 million barrels of crude are set to arrive in India from the US in June, the highest volume since last August, according to provisional data from analytics firm Kpler Ltd. That comes after a drop in prices in the West Texas Intermediate benchmark as the result of lower demand because of a refinery overhaul in Singapore, along with reduced appetite in China — the world’s biggest oil importer. “WTI has to discount significantly more than usual to incentivize the rest of Asia…

Subscribe To NotificationsScan QR code to install appImportant DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you,…

Emera Inc. and subsidiary Nova Scotia Power Inc. on Monday reported unauthorized access to parts of Emera’s Canadian network and servers supporting some of its business applications. A joint press release said the incident has not impacted Nova Scotia Power’s physical operations and Emera’s utilities in the United States and the Caribbean. However, Nova Scotia Power said on social media the cyber breach has impacted some of its phone lines and its online portal for customer account access. Its outage line, though, remains available for emergency calls, it said. “Unfortunately, while we work to bring systems back, there will be…

TechnipFMC PLC has posted a revenue of $2.23 billion for the first quarter, up 9.4 percent year-on-year (YoY), while net income fell 9.6 percent YoY to $142 million. Included in total company results was a foreign exchange loss of $12.1 million, or $8.1 million after-tax, TechnipFMC said. Inbound orders during the quarter reached $3.08 billion, 11.3 percent up YoY, while total backlog hit $15.8 billion, 17.2 percent up YoY. “Total company revenue in the period was $2.2 billion. Adjusted EBITDA was $356 million when excluding foreign exchange impacts, an increase of 38 percent compared to the prior year. Free cash…

The US wants central and eastern European countries to join its path of “energy freedom” instead of following the wider region’s transition to a net zero economy, Energy Secretary Chris Wright said in Warsaw. The Energy Secretary told the Three Seas Business Forum – which numerous leaders from the region attended Monday – that western Europe chose the wrong path of expensive “top-down imposition of enforced climate policies.” He argued that renewables investments weigh on growth and boost revenues of foreign companies, and that eastern Europe should pick a different path. “Central Europe faces a time for choosing,” Wright told conference participants.…

British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024.Nurphoto | Nurphoto | Getty ImagesBritish oil giant BP on Tuesday posted slightly weaker-than-expected first-quarter net profit, following a recent strategic reset and a slump in crude prices.The beleaguered oil and gas major posted underlying replacement cost profit, used as a proxy for net profit, of $1.38 billion for the first three months of the year. That missed analyst expectations of $1.6 billion, according to an LSEG-compiled consensus.BP’s net profit had hit $2.7 billion a year earlier and $1.2 billion in the…

Subscribe To NotificationsScan QR code to install appImportant DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you,…

No previous U.S. government nor its now second-term President Donald Trump are known for their forgiving natures of supposed past betrayals. This is particularly true when the transgressor has been an entity on which both have been forced to rely for any length of time. Saudi Arabia as one of the world’s leading oil suppliers and the de facto leader of oil cartel OPEC for decades has been regarded with deep distrust by Washington since it catalysed the 1973/74 Oil Crisis at a time when the U.S. and its allies were still dependent on it for oil, as analysed in…

As of April 28, 2025, Gold has tallied up 28 new all-time record highs this year. But here’s what’s even more impressive. Having previously scored 39 new all-time highs throughout 2024 – matching the peak of the Global Financial Crisis in 2011 – the price of Gold in U.S Dollars has continued to build on last year’s momentum – taking its count of record highs to a staggering total of 67 new all-time highs, within a space of 16 months to the present day. Put another way, that’s the equivalent of Gold hitting four new all-time record highs – every…