Iberdrola, Endesa propose review of Spain's nuclear phase-out calendar
The proposal was not endorsed by all the companies with stakes in Spain's nuclear fleet: Naturgy (NTGY.MC), opens new tab and EDP (EDP.LS), opens new tab did not sign it, the spokesperson said.
The proposal links the extension to a revision of the tax framework and, as such, isn't in line with the conditions set by Spanish Prime Minister Pedro Sanchez to open a discussion over the review, namely that it guarantees security of supply, safety and it doesn't weigh on taxpayers.
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Spain proposes declassifying secret Franco era files
MADRID, July 22 (Reuters) - The Spanish government on Tuesday introduced a bill to automatically declassify all secret government files older than 45 years, including documents from Francisco Franco's dictatorship and the transition to democracy. If approved by parliament, the proposed law could shed light on some of Spain's darkest chapters, including Franco's ties to Adolf Hitler, the locations of mass graves where victims of his 1939-75 rule were buried, and details of the 1966 Palomares nuclear accident caused by the mid-air collision of two U.S. Air Force planes over a fishing village in southern Spain. "With this law we will overcome an obstacle in our legislation to put us in line with European standards," Justice Minister Felix Bolanos told reporters. "Citizens have the right to know. Administrations have the obligation to provide documentation that is important for history," he added. The bill seeks to replace the existing law governing official secrets, enacted during Franco's rule, which lacks provisions for automatic declassification based on the amount of time that has passed. The law would automatically declassify all documents older than 45 years unless they constituted a justified threat to national security, Bolanos said. For documents created after that period, the draft law outlines a tiered system: "highly classified" documents would remain secret for up to 60 years; "classified" files for up to 45 years; "confidential" material for up to nine years; and "restricted" documents for up to five years. The government should not restrict access to documents related to the Catholic Church or former King Juan Carlos, said the Association for the Recovery of Historical Memory (ARHM), a volunteer group dedicated to identifying victims of political violence during Spain's Civil War and Franco's dictatorship. It also warned that some documents may have already been removed or redacted, and it called for the immediate digitisation of records to ensure public access. Bolanos said that declassifying Franco-era files would be a gradual process given their volumes. The draft law must now pass through parliament, where Socialist Prime Minister Pedro Sanchez's minority government struggles to garner sufficient votes as it weighs concessions to disparate political factions.
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Woodside beats Q2 revenue estimates, exits hydrogen project as costs bite
July 23 (Reuters) - Australia's Woodside Energy ( opens new tab reported a stronger-than-expected 8% rise in second-quarter revenue on Wednesday due to robust output from Senegal's Sangomar project, but took hefty writedowns on a failed hydrogen venture and aging offshore facilities. The revenue beat underscores the strong performance of the Sangomar project, which has contributed $510 million in revenue for the quarter. The company's overall production jumped 13% to 50.1 million barrels of oil equivalent (boe) during the quarter, up from 44.4 million boe in the same period last year. The country's top gas producer posted revenue of $3.28 billion for the three months ended June 30, surging 8% from $3.04 billion a year earlier and exceeding the Visible Alpha consensus estimate of $3.09 billion. Woodside also reduced annual unit production costs to $8-$8.50 per boe from $8.50-$9 per boe. Shares rose as much as 2.4% to a one-month high of A$25.44 by 0057 GMT, outpacing gains of over 1% in the broader energy sub-index (.AXEJ), opens new tab. However, the company said it was abandoning its H2OK hydrogen project in Oklahoma, citing cost escalation and weaker-than-expected demand in the low-carbon hydrogen sector. The exit will result in an impairment loss of about $140 million on a pre-tax basis. "We have made the decision to exit the H2OK Project, demonstrating our disciplined approach to portfolio management," the company said. Woodside also faces mounting decommissioning costs for its aging Minerva, Stybarrow and Griffin offshore facilities, with technical challenges at closed sites driving up expenses. The company expects to book $400-$500 million in pre-tax charges related to the decommissioning work. On the positive side, Woodside completed the sale of a 40% stake in its Louisiana LNG project to Stonepeak for $5.7 billion in June, with the buyer agreeing to fund 75% of the project's capital expenditures in 2025 and 2026. The company said it continues to attract interest from potential partners for further stakes. Woodside in late March agreed to sell offshore oil and gas assets in Trinidad and Tobago to London-based Perenco, which included production facilities and interests in shallow water fields. As a result of the asset sale, Woodside marginally adjusted its 2025 production forecast to between 188 million and 195 million boe, compared with its previous guidance range of 186 million to 196 million boe.
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Woodside's second-quarter revenue beats estimates on Sangomar output; trims 2025 outlook
July 23 (Reuters) - Australia's Woodside Energy ( opens new tab reported a stronger-than-expected 8% rise in second-quarter revenue on Wednesday due to robust output from Senegal's Sangomar project, though it marginally lowered its annual production forecast following an asset divestment. Woodside in late March agreed to sell offshore oil and gas assets in Trinidad and Tobago to London-based Perenco, which included production facilities and interests in the shallow water Angostura and Ruby fields within the Greater Angostura project. The country's top gas producer posted revenue of $3.28 billion for the three months ended June 30, surging 8% from $3.04 billion a year earlier and comfortably exceeding the Visible Alpha consensus estimate of $3.09 billion. The revenue beat underscores the strong performance of the Sangomar project, which has emerged as a key growth driver for the company. Overall production jumped 13% to 50.1 million barrels of oil equivalent (mmboe) during the quarter, up from 44.4 mmboe in the same period last year. As a result of the asset sale, Woodside marginally adjusted its 2025 production forecast to between 188 and 195 mmboe, compared with its previous guidance range of 186 to 196 mmboe.
