Energy & Trade

Hungary shuts down Paks nuclear plant as Danube hits record low, triggering energy crisis

The Soviet-built Paks station, which provides around 40 percent of Hungary's electricity, was fully halted on Sunday after the Danube fell to minus 124 centimetres, smashing a 2018 record. Prime Minister Peter Magyar warned of five critical days ahead and urged drastic power savings.

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Energy & Trade·9h ago

Italy fuel prices hit €2 as diesel excise cut evaporates before August exodus

Italian fuel prices kept climbing into the August holiday exodus, with petrol touching €2 a litre and diesel above €2.09 despite a temporary excise cut that expires on 6 August. The government must decide within days whether to extend the relief or let pump prices rise further.

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Energy & Trade·11h ago

Hungary's only nuclear plant faces first full shutdown in 44 years as Danube drought deepens

Low Danube water levels have forced output cuts to 480 MW, and Prime Minister Peter Magyar warned a total halt could come within days, triggering emergency power-saving measures across the country.

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Energy & Trade·from Jul 21·upd. Jul 24

Trump imposes forced labour tariffs on 60 nations as temporary 10% levy expires

The duties, ranging from 10% to 12.5%, took effect at midnight Eastern Time, replacing a 150-day stopgap levy and covering 99.4% of American imports.

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Energy & Trade·2d ago

BP puts North Sea oil and gas business up for sale as CEO Meg O'Neill accelerates portfolio overhaul

The British energy giant launched a formal sale process for its five production hubs, which produced 117,000 barrels per day last year, as new CEO Meg O'Neill streamlines operations and cuts debt.

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Energy & Trade·from Jul 22·upd. Jul 22

Trump announces 100% tariff on generic drugs from August 2028, rising to 200% a year later

Imported generic medicines will face a 100% levy from August 2028, climbing to 200% in 2029, after a two-year duty-free window that begins on 1 August 2026.

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Energy & Trade·from Jul 23·upd. Jul 23

TotalEnergies doubles Q2 profit to $5.4 billion as Middle East war lifts oil prices and reignites France's superprofits tax debate

The French oil major posted a net profit of $5.4 billion for the second quarter of 2026, up from $2.7 billion a year earlier, while adjusted net income reached $6 billion. The surge was fuelled by the three-month Brent average of $97 per barrel, a 45 percent year-on-year jump driven by the conflict in the Middle East and the de facto closure of the Strait of Hormuz.

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Energy & Trade·Jul 23

Trump expands ratepayer protection pledge to 200 entities as AI data center backlash grows ahead of midterms

Nearly 200 utilities, data center developers and Republican governors signed the voluntary 'Ratepayer Protection Pledge' at an EPA event, as rising electricity bills fuel bipartisan opposition to AI infrastructure.

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Energy & Trade·Jul 20

West African leaders sign deal for $25 billion Nigeria-Morocco gas pipeline, targeting 2031 start

The 6,000-km pipeline will carry up to 30 billion cubic metres of Nigerian gas annually to Morocco and onward to Europe, with construction starting in 2028.

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Energy & Trade·Jul 25

Two US small businesses file lawsuit against Trump's new 10-12.5% tariffs on 60 nations, claiming Section 301 overreach

Two small businesses, represented by the Liberty Justice Center, filed suit Friday in the US Court of International Trade, arguing the administration misused Section 301 of the Trade Act to impose duties of 10% and 12.5% on more than 60 countries.

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Energy & Trade·Jul 24

Trump imposes 10–12.5% tariffs on 60 trading partners, citing forced labour, as temporary levy expires

The United States will impose tariffs of 10% to 12.5% on imports from about 60 trading partners at midnight Washington time, replacing a temporary 10% levy that expires on 24 July 2026. The move invokes Section 301 of the Trade Act of 1974, citing forced labour in supply chains.

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Energy & Trade·5d ago

Rhine water levels hit July record low, threatening water supply and German GDP growth

Persistently low water on Europe's busiest inland waterway forces cargo ships to run at a fraction of capacity, driving up freight costs, and could erase Germany's already weak summer growth, economists warn.

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Hungary shuts down Paks nuclear plant as Danube hits record low, triggering energy crisis

Italy fuel prices hit €2 as diesel excise cut evaporates before August exodus

Hungary's only nuclear plant faces first full shutdown in 44 years as Danube drought deepens

Trump imposes forced labour tariffs on 60 nations as temporary 10% levy expires

BP puts North Sea oil and gas business up for sale as CEO Meg O'Neill accelerates portfolio overhaul

Trump announces 100% tariff on generic drugs from August 2028, rising to 200% a year later

TotalEnergies doubles Q2 profit to $5.4 billion as Middle East war lifts oil prices and reignites France's superprofits tax debate

Trump expands ratepayer protection pledge to 200 entities as AI data center backlash grows ahead of midterms

West African leaders sign deal for $25 billion Nigeria-Morocco gas pipeline, targeting 2031 start

Two US small businesses file lawsuit against Trump's new 10-12.5% tariffs on 60 nations, claiming Section 301 overreach

Trump imposes 10–12.5% tariffs on 60 trading partners, citing forced labour, as temporary levy expires

Rhine water levels hit July record low, threatening water supply and German GDP growth

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