Europe News

The Middle East war is giving fresh momentum to Europe's push for energy independence andbolstering the case for offshore wind farm developments, the CEO of Denmark's Orsted said on Thursday.Europe, a major importer of fossil fuels, has seen energy prices soar in recent weeks as the U.S.-Israeli war on Iran, and Teheran's blockage of shipments through the Strait of Hormuz, led to a worldwide scramble for oil and natural gas."There is a major task for Europe... in ensuring the necessary energy security…

The Northern Lights JV has added a third liquefied carbon dioxide (LCO2) carrier to its fleet, as it expands transport capacity for Europe’s carbon capture and storage (CCS) network.The vessel, Northern Phoenix, was formally welcomed in Bergen and will support the scaling of cross-border CO2 transport under the Northern Lights project.Designed to transport liquefied CO2, the ship will carry captured emissions from Yara to the Northern Lights receiving terminal in Øygarden, where…

Oil prices rose on Thursday as doubts over a fragile two-week Middle East ceasefire raised concerns that energy flows through the crucial Strait of Hormuz will remain restricted.Brent crude futures LCOc1 were up $2.18, or 2.3%, at $96.93 a barrel at 0645 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 rose $3, or 3.18%, to $97.41 a barrel.Both benchmarks fell below $100 per barrel in the previous trading session, with WTI recording its biggest decline since April 2020…

Subsea Cable Assets (SCA) has secured its first framework contract with 50Hertz to deliver cable storage and handling systems for power grid projects in Germany.The contract, awarded through a European tender process, covers the engineering, manufacturing, delivery, installation and commissioning of four cable carousel systems, including associated loading equipment.SCA said the systems are designed to support both offshore and onshore grid infrastructure, ensuring reliable transmission…

French President Emmanuel Macron said about 15 countries were planning to facilitate the resumption of traffic through the Strait of Hormuz, through which a fifth of the world's oil supply usually flows, after a ceasefire between the United States and Iran was announced."About 15 countries are currently mobilised and are participating in the planning, under France's leadership, to enable the implementation of this strictly defensive mission in coordination with Iran to facilitate the resumption of traffic…

Weiler Abrasives, a leader in surface conditioning solutions, has been recognized for its sustainability-related achievements by the Sustainable European Abrasive Manufacturers (SEAM). In a recently released CO2 Emissions Report, SEAM identified Weiler Abrasives as one of only 11 abrasives companies to achieve recognition for climate leadership for the 2024 fiscal year by achieving greater than 4% emissions reduction.The member companies were recognized for their significant progress in emissions reduction.

Belgian marine contractor Jan De Nul has launched its second next-generation cable laying vessel (CLV), William Thomson, as it expands capacity to support growing offshore wind and grid interconnection projects.The William Thomson vessel follows the earlier launch of its sister ship Fleeming Jenkin in October 2025, with both units set to become the largest cable-laying vessels of their kind.Both vessels, launched at CMHI Haimen shipyard in China, measure 215 meters in length and has a cable-carrying capacity of 28…

Kazakhstan's energy ministry said on Tuesday that oil shipments via the Caspian Pipeline Consortium were stable after Russia's military accused Ukraine of damaging loading facilities belonging to the group in the Black Sea.Russia's Defence Ministry said on Monday that Ukraine had attacked facilities at the maritime transhipment complex in the port of Novorossiysk overnight, damaging a mooring point for the CPC and igniting fires at four oil product reservoirs."The work of our oil sector is stable and CPC exports continue to be stable…

Yamal LNG, controlled by Russia's largest liquefied natural gas producer Novatek, has sent its first cargo to China since last November, LSEG data showed on Tuesday, weeks before the gradual enforcement of Europe's ban on Russian LNG imports.The project, located on the Yamal peninsula in the Arctic, has previously mostly exported its frozen gas to Europe.President Vladimir Putin said last month his country could divert gas away from Europe, given the European Union's decision…

Global stocks wavered on Tuesday, while oil prices were perched above $110 per barrel as the prospect of escalation in the war in the Middle East and the looming deadline for a deal to be reached kept nervy investors on the sidelines.Markets have been rattled since the U.S.-Israel war on Iran broke out at the end of February, with Tehran effectively closing the Strait of Hormuz, a key global oil transit chokepoint that has spurred inflation worries.While investors have pinned their hopes on a resolution to the war, the talks so far have yielded no progress, with U.S.

The current oil and gas crisis triggered by the blockade of the Strait of Hormuz is "more serious than the ones in 1973, 1979 and 2022 together", Fatih Birol, the head of the International Energy Agency (IEA), told Le Figaro newspaper."The world has never experienced a disruption to energy supply of such magnitude," he said in an interview with the French newspaper released in its Tuesday edition.He said the European countries, as well Japan, Australia and others will suffer, but the countries most at risk were developing nations which will suffer from higher oil and gas prices…

ABL Group has signed a one-year master service agreement with offshore vessel operator Tidewater to provide marine assurance and dynamic positioning consultancy services.The agreement, entered into by ABL’s Egypt unit and Tidewater Marine Egypt, covers offshore support vessels operating in the Egyptian Mediterranean, as well as the Black Sea and wider European region.ABL said the scope includes support for vessel safety, performance and asset integrity, with services such as audits…

Five European Union countries are calling for a windfall tax on energy companies' profits in reaction to rising fuel prices due to the Iran war, according to a letter from finance ministers to the EU Commission seen by Reuters on Saturday.The finance ministers of Germany, Italy, Spain, Portugal and Austria made the joint call for an EU-wide tax in a letter dated Friday. Such a measure could help fund relief for consumers in the face of high energy prices and be a signal that "we stand united and are able to take action"…

Oil prices were little changed in choppy trade on Monday, as investors awaited clarity on the status of talks between the U.S. and Iran even as they remained wary about sustained supply losses due to shipping disruptions.Brent crude futures LCOc1 rose 76 cents, or 0.7%, to $109.79 a barrel at 0656 GMT. U.S. West Texas Intermediate crude CLc1 futures were trading 53 cents, or 0.5% lower, at $111.01 per barrel.The pricing moves in Asia trading on Monday were dwarfed by an 11% surge for WTI and an 8% rise for Brent during the previous trading session on Thursday…

Oil prices climbed nearly 7% on Thursday after President Donald Trump said the U.S. would continue attacks on Iran, stoking fears of prolonged disruptions to oil supply.Brent crude futures LCOc1were up $7.65, or 7.6%, to $108.81 per barrel at 0902 GMT. U.S. West Texas Intermediate crude CLc1 futures were up $7.06, or 7.1%, at $107.18 per barrel.Both benchmarks were heading for the biggest daily gains, in both absolute and percentage terms, in three weeks, though they remained…

Oil supply disruptions from the Middle East will rise in April and begin to impact Europe's economy as the closure of the Strait of Hormuz severely curbs supplies, International Energy Agency head Fatih Birol said on Wednesday.More than 12 million barrels of oil have been lost since the start of the U.S.-Israel war on Iran due to Tehran's attacks on energy assets in the region and restrictions on shipping through the Strait, he added."The loss of oil in April will be twice the oil loss in March, on top of the loss of LNG...

Oil tanker availability along the U.S. Gulf Coast has dropped sharply in recent weeks, as Asian and European refiners cut off from Middle Eastern supply have been snapping up vessels to import oil and fuel from the United States, shipping analysts and traders said.The Iran war has stalled tanker movements through the Strait of Hormuz, curbing the flow of Middle Eastern oil to Asia and Europe, and prompting refiners there to buy replacement barrels from the United States, Brazil and West Africa.Wider discounts on U.S.

Starting in September, DFDS will offer seven weekly roundtrips on the Rosslare-Dunkirk route by adding a third vessel to the route to provide increased capacity for freight operators and more travel options for passengers during the holiday season.Growing demand for direct transport links between Ireland and continental Europe continues to drive the need for additional capacity. To meet this demand, DFDS is expanding its schedule to offer a total of seven weekly roundtrips, providing greater flexibility for freight hauliers and more travel options for holidaymakers seeking convenient…

The fishing industry is emerging as an early European casualty of soaring diesel costs amid the Iran war, with at least half the Dutch fleet staying in port this week, according to industry representatives.The pressure is most acute in the Netherlands because of an outsized number of beam trawlers in its fleet, which makes up about 7% of the European Union's total.These ships target high-value North Sea flatfish such as sole, turbot and brill, but burn relatively large amounts of fuel.

Oil prices extended gains on Monday, with Brent headed for a record monthly rise, after Yemeni Houthis launched their first attacks on Israel over the weekend, widening the U.S.-Israel war with Iran in the Middle East.Brent crude futures LCOc1 jumped $3.94, or 3.5%, to $116.51 a barrel at 0703 GMT after settling 4.2% higher on Friday.U.S. West Texas Intermediate CLc1 was at $102.14 a barrel, up $1.86, or 1.87%, following a 5.5% gain in the previous session."The market has all but discounted the prospect of a negotiated end to the war…

The U.K. government has committed up to $85 million (£64 million) to support the development of a floating offshore wind port at Port Talbot in Wales, as part of efforts to expand clean energy capacity.The funding will support Associated British Ports (ABP) in completing design and engineering work required to develop infrastructure for floating offshore wind projects in the Celtic Sea.The project is expected to enable at least 4.5 GW of floating offshore wind capacity, enough to power around 6.5 million homes…

Record output from wind farms has helped boost total clean power supplies in the United Kingdom to new highs so far in 2026, and allowed power firms to pare use of fossil fuels to multi-year lows.The growth in wind output has helped shield the UK power system from the worst effects of the U.S.

Prysmian, a leader in energy and data wire and cabling solutions, recently announced changes to its leadership structure in North America to further strengthen the company’s market position in the region. 2025 marked the best year yet for Prysmian, with global revenues reaching USD$23.08 billion (€20 billion). North America’s net profit exceeded $9 billion, accounting for 40% of the company’s total sales. Over the past two years, Prysmian’s North American footprint has grown through the acquisitions of Encore Wire and Channell…