Energy

Sweden Begins Construction of 100,000-Year Nuclear Waste Storage Facility

January 17, 2025

Sweden Begins Construction of 100,000-Year Nuclear Waste Storage Facility

Sweden has started building a final storage facility for spent nuclear fuel in Forsmark, making it only the second permanent site globally for highly radioactive waste. The repository, buried 500 meters underground, will store 12,000 tons of spent nuclear fuel in corrosion-resistant copper capsules encased in clay. It is expected to take its first waste in the late 2030s and be completed by 2080. Environmental concerns and potential delays have been raised by safety-focused NGOs.

Iraq and BP to Finalize Massive Kirkuk Oil and Gas Agreement in February

January 15, 2025

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Iraq and BP to Finalize Massive Kirkuk Oil and Gas Agreement in February

Iraq and BP are set to sign a landmark agreement in February to redevelop four oil and gas fields in Kirkuk, surpassing the value of a 2023 TotalEnergies deal worth $27 billion. The agreement aims to boost oil production by up to 150,000 barrels per day (bpd), expand gas production, and reduce gas flaring by 2028. This deal introduces a profit-sharing model and marks a significant step in Iraq's efforts to enhance energy infrastructure and efficiency.

Newcleo Signs Deals to Build Up to Four Nuclear Reactors in Slovakia

January 15, 2025

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Newcleo Signs Deals to Build Up to Four Nuclear Reactors in Slovakia

Newcleo, has signed agreements with Slovak nuclear companies Jadrová vyraďovacia spoločnosť (JAVYS) and VUJE to construct up to four lead-cooled fast reactors (LFRs) at a cost of €3.2 billion. The reactors will utilize spent nuclear fuel, providing a sustainable solution to nuclear waste while fostering opportunities for local companies.

Norway Awards Oil, Gas Drilling Permits, Plans Arctic Push

January 14, 2025

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Norway Awards Oil, Gas Drilling Permits, Plans Arctic Push

Norway has granted stakes in 53 offshore oil and gas exploration licenses to 20 companies in its annual licensing round, down from 62 licenses last year. The government also announced plans to expand Arctic exploration. Energy Minister Terje Aasland emphasized the need for continued drilling to maintain oil and gas production, particularly as Norway remains a crucial supplier to Europe.

Romania to Delay Coal Phaseout Until 2035

January 13, 2025

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Romania to Delay Coal Phaseout Until 2035

Romania's government plans to extend the operation of coal-fired power plants by three years due to delays in building replacement facilities. The move, announced by Energy Minister Sebastian Burduja, will require approval from the European Commission and deviates from the country’s initial coal phaseout deadline of 2032.

Austria's Top Energy Company Plans €100bn Climate Push Amid Political Challenges

January 9, 2025

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Austria's Top Energy Company Plans €100bn Climate Push Amid Political Challenges

Verbund, Austria's most valuable publicly listed company and leading electricity provider, has announced an ambitious €100 billion investment in sustainability initiatives aimed at achieving Austria's climate neutrality goal by 2040. However, the political instability following Austria's recent elections and resistance from some industries present significant hurdles to the plan.

Siemens Faces Lawsuit Over Withheld Equipment for Türkiye’s First Nuclear Plant

January 9, 2025

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Siemens Faces Lawsuit Over Withheld Equipment for Türkiye’s First Nuclear Plant

Russian state nuclear energy corporation Rosatom has announced plans to sue Siemens over the German company’s refusal to deliver prepaid equipment crucial for the Akkuyu Nuclear Power Plant in Türkiye. The dispute has caused delays and increased costs for the $20 billion project, which is expected to generate 4,800 megawatts (MW) of electricity once fully operational.

France Adds First Nuclear Reactor in 25 Years

January 8, 2025

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France Adds First Nuclear Reactor in 25 Years

France has officially connected its Flamanville 3 nuclear reactor to the national grid, marking the first addition to the country’s nuclear power network in a quarter of a century. The reactor, which began operating in September, faced a 12-year delay and quadrupled costs, totaling €13 billion. Despite setbacks, it is now generating electricity and forms part of France’s broader energy strategy to expand its nuclear capacity.