2025-07-04 12:37
PARIS, July 4 - French agrifood group Avril said on Friday it had signed an exclusivity agreement with U.S.-based Valtris Specialty Chemicals to acquire a rapeseed processing plant in eastern France, amid growing consolidation among European rivals. The facility processes around 400,000 metric tons of rapeseed annually, focusing on crushing, refining, and biodiesel production, Avril said in a statement. Sign up here. The plant's activities lie at the heart of Avril's core business, with a highly complementary geographic location, the group said. Avril declined to disclose the financial terms of the deal, which remains subject to consultations with employee representatives and approval from competition authorities. Valtris will retain operations for its specialty chemical production at the same site, ensuring continuity for its core business activities. https://www.reuters.com/markets/commodities/frances-avril-signs-deal-buy-rapeseed-plant-valtris-2025-07-04/
2025-07-04 12:24
PRAGUE, July 4 (Reuters) - A major power outage that hit parts of the Czech Republic on Friday, briefly halting underground trains in the capital Prague, was probably the result of a technical outage, with no signs of a cyber or terrorist attack, authorities said. The incident is likely to add to concerns about the resilience of Europe's power grids and infrastructure after Spain suffered the worst blackout in its history in April and a fire knocked out the power supply to London's Heathrow airport in March. Sign up here. "Part of the transmission system is without voltage; the event affected also a larger part of transmission system substations," grid operator CEPS said in a statement. CEPS later said that five out of eight affected substations had resumed operation and the causes of the outage were being investigated. It affected the Liberec, North-Bohemia, East-Bohemia and Central Bohemia regions, as well as Prague, CEPS said. Speaking on Czech Television, Interior Minster Vit Rakusan said the authorities had no information to suggest there had been a cyber or terrorist attack. Czech Transport Minister Martin Kupka said on X trains were halted on a number of lines and five out of 14 regions of the country were affected. Prague transport company DPP said it had restored operations after underground trains were briefly halted and tram traffic stopped on the right bank of the capital. Czech media reported a number of people trapped in elevators in parts of Prague and central Bohemia. E.ON (EONGn.DE) , opens new tab, which operates part of the grid in south and south-eastern Czech Republic, said its supply area was not affected. Neighbouring Poland's power grid operator also said its systems were unaffected. https://www.reuters.com/world/europe/czech-republic-hit-by-major-power-outage-2025-07-04/
2025-07-04 12:05
July 4 (Reuters) - The United Nations atomic agency is pulling its inspectors out of Iran over safety concerns, the Wall Street Journal reported on Friday, citing people familiar with the matter. Sign up here. https://www.reuters.com/world/middle-east/un-pulls-nuclear-inspectors-out-iran-safety-reasons-wsj-reports-2025-07-04/
2025-07-04 11:58
BERLIN, July 4 (Reuters) - Germany's economy ministry presented a draft law on Friday that would accelerate the expansion of geothermal energy projects, as Berlin aims to phase out the use of fossil fuels in heating systems by 2045. Germany possesses some of Europe's largest geothermal reserves, which could cover more than a quarter of its annual heating demand, a study by Fraunhofer Institute showed in 2023. But development has long been stalled by local resistance and regulatory red tape. Sign up here. The new bill offers simplified approval procedures for geothermal facilities, heat pumps, heat storage, and heating pipelines. It would legally designate these projects as being of "overriding public interest", similar to the status given to wind and solar energy, and push for accelerated permitting through changes in mining, water, and environmental laws. It would also give government mining authorities fixed deadlines for project approval procedures and ease restrictions on geothermal exploration. Under the bill, mining authorities would be able to waive a requirement for an operational plan for larger heat generation projects under certain conditions and would be required to respond within set deadlines when notified of planned drilling activities. It also gives them the power to require geothermal companies to provide financial security against potential mining damages related to their projects. The renewed interest in geothermal energy in Germany follows an energy price spike resulting from Russia's 2022 invasion of Ukraine that prompted major municipal utilities — as well as German and international fossil fuel firms — to explore new investment opportunities in the sector. Germany's ambitions to cut greenhouse emissions in the building sector, where heating is the main emissions contributor, has also boosted interest in geothermal energy. The new bill, which the economy ministry hopes will enter into force at the start of next year, must now be approved by Germany's cabinet as well as the lower and upper houses of parliament. https://www.reuters.com/sustainability/climate-energy/germany-proposes-law-speed-up-geothermal-clean-heat-expansion-2025-07-04/
2025-07-04 11:46
Ukraine war has intensified EU farmers had protested against competition from Ukraine grain Traders say Ukraine is likely to find buyers elsewhere BRUSSELS/PARIS, July 4 (Reuters) - The European Union will cut imports of Ukrainian wheat and sugar by up to 80% to address the concerns of its farmers, according to quotas announced on Friday, that are likely to drive Ukraine growers to sell more to markets in Asia and Africa. In a show of solidarity following the start of the Ukraine war in 2022, the EU opened up its food markets and temporarily waived duties and quotas. Sign up here. But as farmers across the bloc protested against a flood of cereals, sugar and poultry from Ukraine, Brussels moved to re-introduce the quotas. Traders say Ukraine has defied expectations by continuing to ship large volumes of grain via the Black Sea, but the war shows no sign of ending and Western support has faltered. The United States paused some missile shipments this week. Officials on Friday said Russia had carried out the worst drone attack of the war. The quotas announced on Friday will be higher than those in the first free trade agreement between the EU and Ukraine in force since 2016, but significantly below the volumes imported over the last three years duty-free. They follow a provisional deal reached on Monday and set the annual quota for wheat at 1.3 million metric tons, a 30% rise from pre-war levels of 1 million tons, a senior EU official said on Friday. It represents a drop of 70-80% from the last three seasons, when the EU imported around 4.5 million tons of Ukrainian wheat in the 2024/25 season to June 30, 6.5 million tons in 2023/24 and 6.1 million tons in 2022/23, according to Commission data. The EU set the quota for Ukrainian sugar at 100,000 tons, up from 20,000 tons before the war, but down from quota-free imports of 400,000 tons in 2022/23 and over 500,000 tons in 2023/24. Ukrainian farm lobby UCAB said on Friday the quotas were too low, calling the proposal a "step back". They should provide relief for European Union farmers, many of whom have suffered from higher costs and stricter environmental rules and who are also concerned by a planned EU deal with South America's Mercosur bloc. Grain traders say competitively priced Ukrainian wheat should be able to find alternative buyers in North Africa and Asia. For barley, the EU's import quota for Ukraine would rise to 450,000 tons from 350,000 tons. That would be in line with what the EU imported in 2024/25, though only about half of the volumes taken in 2022/23 and 2023/24. For poultry, the import quota was increased to 120,000 tons from 90,000 tons. The revised trade agreement between the EU and Ukraine includes 40 goods and still needs to be adopted by a qualified majority of member states. In addition, the agreement allows for individual EU countries to take further measures to safeguard their markets if they are destabilised by quota volumes, the official said. https://www.reuters.com/markets/commodities/eu-raises-import-quotas-ukrainian-wheat-sugar-eu-official-says-2025-07-04/
2025-07-04 11:39
TOKYO, July 4 (Reuters) - Japan will begin test mining for rare-earth-rich mud from the deep seabed off Minamitori Island, some 1,900 kilometres (1,180 miles) southeast of Tokyo, in January next year, the head of the government-backed project said on Friday. Tokyo is seeking to secure stable supplies of critical minerals amid tightening export controls by China, the dominant supplier of rare earths. Global manufacturers are concerned China's decision to curb exports of rare-earths alloys, mixtures and magnets could slow production and disrupt supply chains. Sign up here. "The goal is to secure a domestic supply to enhance national security, rather than to enable private companies to profit from selling rare earths," Shoichi Ishii, program director of the Cabinet Office's national platform for innovative ocean developments told Reuters in an interview. This would mark the world's first attempt to extract mud from the deep seabed for the separation and refining of rare earth elements, he added. The Japanese government is pushing ahead with a national project to develop domestic rare earth production as part of broader efforts to strengthen maritime and economic security. Surveys have confirmed the presence of rare-earth-rich mud at depths of 5,000 to 6,000 meters within Japan's exclusive economic zone (EEZ) near Minamitori Island, Ishii said. The mud is believed to contain dysprosium and neodymium, which are used in electric vehicle motor magnets, as well as gadolinium and terbium, used in various high-tech products, Ishii said. Pipes from a deep-sea exploration vessel operated by the Japan Agency for Marine-Earth Science and Technology (JAMSTEC) will be used to extract the mud, which will then be transported to the mainland for analysis to determine its rare earth content. If successful, the project aims to launch trial operations of a system capable of recovering 350 metric tons of mud per day in January 2027. The project is government-funded, but details on investment size and estimated reserves have not been disclosed. https://www.reuters.com/markets/asia/japan-begin-test-mining-rare-earth-mud-seabed-early-2026-2025-07-04/
