energy
Siemens Energy appears to be back on track after pushing through a restructuring of its troubled wind power subsidiary, Gamesa. The German energy technology company reported positive quarterly earnings on Wednesday, and dramatically raised its profit forecast for the remainder of the current year. The company, which split off from German engineering giant Siemens in 2020, has struggled with losses in the wind power subsidiary and has been forced to issue numerous profit warnings in its relatively short history. But Wednesday's report indicated that Siemens Energy made a bottom-line profit of €...
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Siemens Energy appears to be back on track after pushing through a restructuring of its troubled wind power subsidiary, Gamesa. The German energy technology company reported positive quarterly earnings on Wednesday, and dramatically raised its profit forecast for the remainder of the current year. The company, which split off from German engineering giant Siemens in 2020, has struggled with losses in the wind power subsidiary and has been forced to issue numerous profit warnings in its relatively short history. But Wednesday's report indicated that Siemens Energy made a bottom-line profit of €...
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Germany industry is unlikely to fully recover from the energy crisis caused by the Ukraine war because of high prices for imported liquefied natural gas, said the head of energy multinational RWE Markus Krebber. "Gas prices in continental Europe, especially in Germany, are structurally higher now, because we, in the end, depend on LNG imports,” Krebber told the Wednesday edition of the Financial Times. German industry is at a disadvantage, he added. "You’re going to see a bit of recovery, but I think we’re going to see a significant structural demand destruction in the energy-intensive industr...
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A fire on an oil rig in the Gulf of Mexico has killed one worker and left nine others with burns and other injuries, state oil company Petróleos Mexicanos (Pemex) said on Sunday. The fire on the Akal-B1 platform off the coast of the Mexican state of Campeche broke out on Saturday and was quickly brought under control. The cause of the fire was initially unknown. Footage of the fire posted on social media showed a large black plume of smoke rising over the rig, part of the huge Cantarell oil field off the coast of Campeche. Pemex is one of the largest oil companies in the world, with crude oil ...
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Two thermal power plants in western Ukraine were severly damaged in Russian missile attacks last week, with repair works expected to take months, the operator said on Thursday, according to media reports. "The power plant units have been destroyed to varying degrees," the managing director of energy company DTEK, Dmytro Zakharuk, was quoted as saying. While in some cases, more than 50% were destroyed, some units at the Burshtyn thermal power plant in the Ivano-Frankivsk region and the Lyshyn plant in the Vinnytsia region were completely destroyed, he said. Taken together, the two plants have a...
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France will soon be commissioning a new nuclear power plant for the first time in over two decades. The state-owned energy company EDF announced on Wednesday evening that the nuclear supervisory authority has approved the final preparatory steps for the start of the new nuclear reactor in Flamanville on the English Channel. The loading of the power plant with nuclear fuel is now expected to begin in the coming weeks. Connection of the pressurized water reactor (EPR) to the national power grid is planned for the summer. Construction of the controversial reactor began in 2007 and it was complete...
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A methanol-powered container ship by Danish shipping company Maersk entered the Port of Hamburg for the first time early Thursday morning. The Ane Maersk is the first large, methanol-capable container ship from the Danish shipping company and has a capacity of more than 16,000 standard containers (TEU). Over the next two years, Maersk plans to put 17 more container ships of this size into operation, which will be fuelled with so-called green methanol. The company says these larger ships can save up to 280 tons of CO2 per day over their fossil fuel-powered counterparts. Green methanol is virtua...
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Promoting nuclear power was long taboo in Brussels, but a high-level Nuclear Energy Summit on Thursday sent the message that atomic energy – now touted by its champions as key to fighting climate change – is back. At the summit in Brussels - the first of its kind - 32 countries and the International Atomic Energy Agency (IAEA) adopted a Nuclear Energy Declaration. According to a press release, the signatories affirmed their “strong commitment to nuclear energy as a key component of our global strategy to reduce greenhouse gas emissions" and "ensure energy security." In the European Union, the ...
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European Commission President Ursula von der Leyen on Thursday told world leaders that nuclear energy can help them cut carbon emissions, at a first Nuclear Energy Summit in Brussels. "In countries that are open to the technology, nuclear technology can play an important role in clean energy transitions," von der Leyen told the assembled leaders in Brussels. "After the global energy crisis caused by Russia’s invasion of Ukraine, many countries are giving a fresh look to [sic] the potential role that nuclear might play." Von der Leyen was speaking at the International Atomic Energy Agency's (IA...
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The Munich-based company Turn2X said on Friday it had opened the first production facility in Spain for the commercial production of renewable and climate-neutral natural gas in Europe. The plant, which opened on Friday in the western town of Miajadas, will accelerate the clean energy transition, said the company, which was founded in 2022. The plant has a capacity of two megawatts and can produce around two gigawatt hours of renewable natural gas per year. The German company pointed out the benefits for its home country. By 2030, Turn2X aims to cover 10% of Germany's natural gas requirements ...
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