2025-08-30 18:08
Aug 30 (Reuters) - Rolls-Royce Holdings (RR.L) , opens new tab on Saturday denied a report it was exploring an initial public offering for its small nuclear reactor unit. The Financial Times, citing people familiar with the situation, reported on Saturday the company was considering an IPO as well as other funding options. It said talks with investment houses and banks were at an early stage. Sign up here. "Rolls-Royce SMR is not planning for, or in the process of launching, an initial public offering," a spokesperson for the unit said in an emailed statement to Reuters. In June, the Rolls-Royce SMR unit was selected to build Britain's first Small Modular Reactors as part of its plan to speed up the decarbonisation of the power network from the mid-2030s. The unit, majority-owned by the British engineering firm, plans to build three reactors. The British government pledged 2.5 billion pounds ($3.4 billion) for the SMR programme over the next four years, aiming to launch one of Europe's first small-scale nuclear industries. Countries including the United States, Canada, Romania and the Czech Republic are also pursuing SMRs, which could open a large global market if the British project succeeds. ($1 = 0.7402 pounds) https://www.reuters.com/business/energy/rolls-royce-denies-report-ipo-plans-small-nuclear-reactor-unit-2025-08-30/
2025-08-30 13:42
NEW DELHI, Aug 30 (Reuters) - Adani Power (ADAN.NS) , opens new tab and Torrent Power (TOPO.NS) , opens new tab have bagged orders to cumulatively set up 2,400 megawatt (MW) coal power plants from the Indian central state of Madhya Pradesh, the two companies said in separate statements. MP Power Management Company has awarded a contract to Torrent Power to supply 1,600 MW from a new coal-based power plant that would require an investment of 220 billion rupees ($2.51 billion), according to a statement by the company. Sign up here. Adani Power would supply power in the central Indian state from a new 800 MW thermal power plant with an investment of 105 billion rupees ($1.20 billion), its fourth major power supply order in the last 12 months, the company said in a separate statement. Prime Minister Narendra Modi's government aims to lift coal-based power capacity by 80 GW to more than 290 GW by 2032, an increase of over one-third, to ensure reliable, round-the-clock supply. ($1 = 87.5060 Indian rupees) https://www.reuters.com/business/energy/indian-state-awards-adani-torrent-power-contracts-2400-mw-coal-plants-2025-08-30/
2025-08-30 12:38
Aug 30 (Reuters) - Rolls-Royce Holdings (RR.L) , opens new tab is exploring funding options for its small nuclear reactor unit, including the possibility of an initial public offering, the Financial Times reported on Saturday, citing people familiar with the situation. The talks with investment houses and banks are focused on future funding needs and remain at an early stage, with the company's board in no rush to decide, the report added. Sign up here. In June, the Rolls-Royce SMR unit was selected to build Britain's first Small Modular Reactors as part of its plan to speed up the decarbonisation of the power network from the mid-2030s. The unit, majority-owned by the British engineering firm, plans to build three reactors. The British government pledged 2.5 billion pounds ($3.4 billion) for the SMR programme over the next four years, aiming to launch one of Europe's first small-scale nuclear industries. Countries including the United States, Canada, Romania and the Czech Republic are also pursuing SMRs, which could open a large global market if the British project succeeds. Rolls-Royce and Rolls-Royce SMR did not immediately respond to Reuters' requests for comment outside regular business hours. ($1 = 0.7402 pounds) https://www.reuters.com/business/energy/rolls-royce-weighs-funding-options-including-ipo-small-nuclear-unit-ft-reports-2025-08-30/
2025-08-30 10:53
PARIS, Aug 30 (Reuters) - Workers at France's EDF will strike from late on Monday for three days, the utility said on its website on Saturday, adding to a series of strikes expected next month in protest against proposed budget cuts by the government. EDF, the country's top power producer, said the strike would run from Monday from 1900 GMT through the same time on Thursday. No further details were provided. Sign up here. Unions were also due to stage protests on September 18, a top union leader said on Friday, in response to Prime Minister Francois Bayrou's unpopular plans for budget cuts in 2026. Bayrou has announced a confidence vote for September 8, with opposition parties warning they would bring down his minority government. Strikes are also planned on September 10 by some groups. https://www.reuters.com/sustainability/sustainable-finance-reporting/staff-frances-edf-plan-three-day-strike-september-1-2025-08-30/
2025-08-30 08:53
Rosneft says oil prices declined due to overproduction Output hikes by OPEC led to weak oil prices, says Rosneft Rosneft's Sechin warns of production glut Sechin repeats criticism of high interest rates, strong rouble MOSCOW, Aug 30 (Reuters) - The chief executive of Russia's Rosneft (ROSN.MM) , opens new tab said net income sank more than 68% to 245 billion roubles ($3 billion) in the first half due to weak oil prices that were dragged down by production hikes by Saudi Arabia and other OPEC states. The comments from the head of Russia's largest oil producer, Igor Sechin, a long-standing ally of President Vladimir Putin, were the first indications of unease in months from Russia about the OPEC+ strategy to speed up production hikes. Sign up here. Sechin is known for his scepticism about cooperation with the OPEC. He had said that production cuts by the group spurred an output rise by the United States, which over the past years has become the world's leading oil producer. Industry sources have said Russia had voiced its concern at the OPEC+ meetings about faster-than-planned output hikes, though eventually it supported the moves. The Organisation of the Petroleum Exporting Countries and its allies led by Russia, a group known as OPEC+, had been curtailing production for several years to support oil prices. The group, which pumps about half of the world's oil, reversed course this year in a bid to regain market share, spurred in part by calls from U.S. President Donald Trump for OPEC to ramp up production. "The first half of the year was characterized by a decline in oil prices, primarily due to overproduction of oil. The main reason is the active increase in production by OPEC countries, including Saudi Arabia, the UAE, Iraq, Kuwait," Sechin said on Saturday. Sechin said that the surplus on the global oil market, according to Rosneft and leading energy agencies, will reach 2.6 million barrels per day in the fourth quarter, easing to 2.2 million bpd in 2026. He repeated his criticism of Russia's central bank's hawkish monetary policy, which he said supported a strong rouble. ($1 = 80.8455 roubles) https://www.reuters.com/business/energy/rosneft-net-income-drops-68-first-half-blames-opec-weak-oil-prices-2025-08-30/
2025-08-30 07:26
NEW DELHI, Aug 30 (Reuters) - Two dead storks at Delhi Zoo have tested positive for the highly pathogenic H5N1 bird flu virus, prompting authorities to shut the facility from Saturday, the Times of India reported. A sample from another dead captive bird is being tested as authorities implement bio-security measures and intensive surveillance to prevent the spread of the virus to other animals and humans, the newspaper reported. Sign up here. The zoo will be shut until further orders, it said. The spread of bird flu would be a concern for the government and the poultry industry because it can devastate flocks, prompt trade restrictions and pose a risk of human transmission. https://www.reuters.com/business/healthcare-pharmaceuticals/indias-delhi-zoo-shut-after-positive-bird-flu-tests-two-storks-times-india-2025-08-30/
