Europe and parts of Asia are experiencing extreme heatwaves and severe drought, leading to record low river levels, water restrictions, and multiple heat-related deaths. The prolonged high temperatures are also straining energy systems and impacting agricultural workers.
Critically low water levels in the Danube River are causing unprecedented energy concerns across Central Europe, leading to the Paks nuclear power plant in Hungary operating at reduced capacity and facing potential shutdown. Romania is also struggling to maintain operations at its Cernavoda nuclear plant, with hydrologists warning of worsening conditions due to dry source basins.
Romanian car manufacturers Dacia and Ford have temporarily halted production until August 19 due to an impending power crisis, a decision made to help manage the country's energy challenges, as confirmed by Prime Minister Ilie Bolozan.
Hungarian officials reported that the Paks nuclear power plant narrowly avoided a complete shutdown overnight, coming within 'millimeters' of closure. The incident highlights ongoing concerns about the country's energy stability.
Romania has begun importing electricity from Ukraine, with Energocom facilitating the purchase, after a drought forced the shutdown of a reactor. Citizens are urged to use energy responsibly during this period.
Energy giant BP has reported a doubling of its profits and is planning to sell its US biogas business, with its chief executive noting several approaches for its North Sea assets.
Serbia has extended its ban on the export of oil and petroleum derivatives. This measure aims to ensure domestic supply and stability in the energy market.
Russian insurers have reportedly ceased providing war and terrorism risk coverage for cargo ships operating in the Sea of Azov and the Black Sea, according to sources in the shipping and insurance industries.
Finland's nuclear energy safety regulator recommended today that the Onkalo nuclear waste storage facility be granted an operating license, thus opening the...
Prime Minister Modi has launched two major POWERGRID transmission projects and laid the foundation stone for a ₹5,550 crore renewable energy corridor in Andhra Pradesh.
NRG Energy reported a miss on both non-GAAP EPS and revenue for its fourth quarter, while Turning Point Brands missed on non-GAAP EPS but exceeded revenue expectations.
Duke Energy reported Non-GAAP EPS of $1.43 and revenue of $7.59B, while Yokogawa Electric reported GAAP EPS of ¥48.27 and revenue of ¥141.35B. Both companies reaffirmed their fiscal year 2026 outlooks.
British oil giant BP announced a net profit of $5.7 billion in the second quarter, significantly surpassing Wall Street expectations, attributed to the ongoing energy shock.
Nigeria has approved a $4.5 billion arrangement with its state-owned energy firm, NNPC, to free up funds for bolstering foreign-exchange reserves and investing in ongoing government infrastructure priorities.
Péter Magyar has been ridiculed in Russian media for his criticisms of Rosatom amidst Hungary's ongoing energy crisis and his suggestions of an alleged plot regarding the Paks nuclear power plants.
Ghana's Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, praised the Ghana National Gas Company Limited (Ghana Gas) for its strong operational and financial performance in 2025, calling it a key driver of the government's Gas-to-Power agenda.
Cypriot shipping executive Thomas Kazakos is leading the International Chamber of Shipping's campaign for a toll-free Strait of Hormuz, pressing Bahrain's Foreign Minister for unrestricted passage.
Construction crews building a border wall in New Mexico were ordered to stop drilling new wells after residents and farmers reported that the pumping of groundwater threatened local water supplies in the drought-hit region.
Advanced Energy anticipates a record third-quarter revenue of approximately $640 million. The company has also increased its growth outlook for 2026 to the low-to-mid 30% range.
The CEO of Seplat Energy stated that Nigeria has an opportunity to lead global energy security by improving uptime, securing routes, delivering more products to the market, and deepening gas infrastructure. This comes as the world seeks reliable energy sources.
A list of stocks including Palantir (PLTR), CRISPR Therapeutics (CRSP), and Diamondback Energy (FANG) are highlighted for investors to watch during after-hours trading on Monday.
The United States has moved closer to deep-sea mining, with the Bureau of Ocean Energy Management proposing to auction two vast seabed lease areas near American Samoa for mineral exploration.
An energy analyst suggests that increasing the Tema Oil Refinery's (TOR) capacity to 100,000 barrels per day could lead to a more transparent and fairer fuel pricing regime in Ghana.
Ghana's Deputy Minister of Energy and Green Transition, Richard Gyan-Mensah, has endorsed calls for Ghana and other African nations to invest in nuclear energy.
Energy analyst Kwadwo Poku has welcomed Ghana's decision to reduce diesel prices by GH¢2 per litre as a temporary relief, but cautioned that the government needs to develop a holistic fuel pricing strategy rather than relying on short-term measures.
Analysts warn that fresh attacks on alternative shipping routes have created an increasingly complex and dangerous situation for oil tankers in the Middle East, the worst since the beginning of the Iran war.
Ghana National Gas Limited Company (Ghana Gas) has reported strong operational and financial performance for 2025, achieving 97% profit growth. Energy Minister Dr. John Abdulai Jinapor commended the company as a key contributor to Ghana’s energy security and urged continued investment.
Ahmed Abdelsalam, a 12-year-old student from Cambridge, has developed VERDA, a system capable of capturing energy from various movements such as walking, wind, and waves. His innovative clean energy idea has earned him a spot among the 10 finalists in the 2026 3M Young Scientist Challenge.
Hungary has shut down its nuclear power plant due to a severe drought and soaring temperatures, highlighting the challenges climate change poses even to nuclear energy production.
Extremely low water levels in major European rivers like the Danube are causing significant disruptions to shipping routes and raising concerns about an impending energy crisis across Central European countries. The drought conditions have also revealed previously submerged World War II-era Nazi ships in the Danube.
England and Wales recorded their driest July since 1836, with only 10% of the average rainfall, leading to widespread drought conditions. This extreme weather event is attributed to climate change.
Dacia and Ford have temporarily suspended production at their Romanian plants for scheduled maintenance, with the Romanian Prime Minister stating this aligns with efforts to reduce energy consumption, despite initial reports linking it solely to the energy crisis.
The Romanian Prime Minister has assured the public that no fuel supply problems are anticipated, despite ongoing pressure on the energy system. Government meetings are being held to address the energy crisis and ensure solutions for rising fuel prices.
Europe is experiencing a record-breaking hot and dry summer, leading to major wildfires in France and Greece, and the driest July in nearly two centuries in the UK. The continent, identified as Earth’s fastest-warming region, is also seeing its cities struggle to cope with extreme heatwaves, with temperatures reaching up to 53C in parts of London.
Cuba is experiencing widespread frustration as successive energy blackouts continue to disrupt daily life and hinder attempts at energy restoration. The ongoing power outages are severely impacting the island's population.
Several companies, including Workiva, Travere Therapeutics, and Duke Energy, have released their Q2 2026 earnings previews. These previews offer investors an early look at the financial performance of various businesses across different sectors.
A severe drought in the Netherlands is causing significant concern for the stability of the country's iconic dikes and the overall groundwater levels, particularly on Terschelling. The prolonged dry spell also threatens houseboats and agricultural sectors.
Despite national concerns about Hungary's power grid stability and calls for energy saving, the Sziget Festival in Budapest has received approval to proceed. Organizers state that years of upgrades and investments have made the event energy-efficient.
Analysts are speculating on the implications of Greg Abel's decision not to alter Berkshire Hathaway's energy holdings, wondering if it signals a specific strategy.
Nigerian politician Ben Murray-Bruce has called on local automaker Innoson to focus on electric vehicle production, citing rising fuel costs, Nigeria's solar energy potential, and lithium deposits as key motivators.
Energy Transfer has updated its financial outlook, raising its Adjusted EBITDA guidance for fiscal year 2026 to a range of $18.8 billion to $19.1 billion. This revised forecast indicates an improved financial projection for the company.
A Republican senator has strongly criticized his challenger, labeling him a 'creature of Washington' in a critical Senate showdown. Jon Husted argued that Sherrod Brown's 32 years in Washington have only resulted in higher energy prices and liberal votes out of step with Ohio voters.
Energy Analyst Kwadwo Poku has criticized the Ghanaian government, stating that a proposed expressway is a long-term solution and immediate fixes are needed for the existing Accra-Kumasi road to reduce accidents.
BP announced its highest profits in four years, attributed to increased oil prices, with environmental groups criticizing the energy giant for profiteering.
An adviser to Mojtaba Khamenei has claimed that hundreds of US soldiers were killed or wounded in Iranian strikes, amid ongoing US airstrikes aimed at reducing Iran's ability to threaten commercial shipping.
A China-led research team has identified the highest-energy light particle ever recorded, originating from the binary system Cygnus X-3, indicating the universe's capability to accelerate matter beyond previously predicted limits.
Over the past week, operatives of the Security Service of Ukraine (SBU) successfully struck five Russian oil refineries and several aircraft, along with other military and energy infrastructure targets.
The European Union has approved a merger in the Taiwan wind energy sector, concluding that it will have a minimal impact on competition. This decision allows the consolidation to proceed.
Global energy giant BP has reduced its refinery portfolio to just five sites worldwide following the sale of one of its facilities located in Gelsenkirchen, Germany.
Ghana's Energy Ministry has appealed to the GPRTU to reconsider fare hikes, emphasizing that current times require sacrifice and clarifying that diesel relief is not funded by power sector resources.
The Ghanaian government has introduced a GH¢2 per litre subsidy on diesel, aiming to provide immediate relief from high fuel prices. While the Energy Ministry assures taxpayers will not be burdened, the Institute for Energy Security (IES) notes that the weak cedi limits more significant price reductions and views the subsidy as a short-term solution.
An energy analyst suggests that Ghana's Tema Oil Refinery (TOR) requires significant capital, technology, and expertise from strategic partners to scale its production capacity to 100,000 barrels of crude oil daily.
The CEO of the Volta River Authority (VRA), Ing. Obeng-Kenzo, is calling for African utility companies to collaborate and explore nuclear energy production to power the continent's future. He emphasizes the need for joint efforts to strengthen Africa's energy sector.
A proposal has been submitted for the Crumhach Wind Farm in West Sligo, Ireland, aiming to replace existing wind farms and nearly triple the renewable energy capacity at the site to 102MW.
President John Dramani Mahama has directed the Minister for Energy and Green Transition, along with the Board and management of Tema Oil Refinery (TOR), to develop a strategic plan to expand the refinery's processing capacity to 100,000 barrels of crude and eliminate political interference.
A former minister admitted last year that the Orbán government failed to prepare the country for a severe water shortage. Despite this, the former governing party blames the Tisza government for the current energy crisis exacerbated by historic drought.
Romania has detonated rocks in the Danube River to divert water to its Cernavoda nuclear power plant, which is facing critically low water levels due to drought. This measure aims to ensure the continued operation of the nuclear reactor and mitigate the country's electricity crisis.
Shell has announced the sale of its European onshore wind and solar businesses to TotalEnergies as part of a strategic retreat from certain renewable energy operations. This move includes the sale of its Dutch solar farms and other European assets.
Romania has used explosives to blast a section of the Danube Riverbed to redirect water flow, aiming to ensure sufficient cooling for its Cernavoda nuclear power plant amidst drought conditions. This measure is intended to extend the operational life of the country's only nuclear facility.
Contractors building the US-Mexico border wall have been ordered to stop drilling wells in drought-stricken New Mexico. The directive aims to conserve water resources in the arid region.
Ukraine's energy minister has warned that Russia is now targeting Ukraine's water system, aiming to deprive the country of access to water. This represents a new strategic objective in the ongoing conflict.
Experts are warning that ongoing heatwaves and drought conditions could lead to increased food prices. The impact of extreme weather on agricultural production is raising concerns about the cost of everyday groceries.
Williams has agreed to acquire Momentum Midstream for up to $5.5 billion, expanding its energy infrastructure. Separately, Couche-Tard has agreed to acquire Żabka in a 32.62 billion-zloty deal, marking a significant expansion in the retail sector.
Sequoia Capital has led a $1 billion funding round for the nuclear startup Valar. This significant investment highlights growing interest and capital flow into the nuclear energy sector.
Dr. John Abdulai Jinapor, Minister for Energy and Green Transition, announced that he has engaged the National Petroleum Authority (NPA) and other key stakeholders. The purpose of these engagements is to implement President John Dramani Mahama’s directive to reduce the price of diesel by GHS2.
Eric Cantor, Moelis & Co. vice chair and former House Majority Leader, discusses the unprecedented investment cycle in digital infrastructure, the Federal Reserve, inflation, and energy.
Prolonged drought and high temperatures have significantly reduced water levels in the Kalochori Lagoon, a critical wetland in Greece, impacting its ecosystem.
Hungary and Romania's nuclear power plants are particularly vulnerable to drought due to their reliance on Danube river water for cooling reactors, unlike the plant in Slovenia which remains at full capacity.
Knife River, Enlight Renewable Energy, Revvity, and Ingredion all reported strong Q2 results, beating both top-line and bottom-line estimates. These companies subsequently raised or updated their financial outlooks for fiscal year 2026.
Despite ongoing drought conditions, Czech nuclear power plants are unlikely to be shut down. Radio Prague International reports on the resilience of the plants to water shortages.
A Hong Kong shipping industry body reports that up to 80 of its ships and 1,600 seafarers are stuck in or near the Strait of Hormuz due to over five months of conflict in the Middle East.
Prof Amare Abebe, director of the Centre for Space Research at North-West University, emphasizes how Africa can leverage satellite data and space technology to address critical development challenges like food insecurity and drought.
Serbian President Aleksandar Vucic stated that there is currently no immediate risk of power shortages in Serbia, but warned about the broader energy situation.
Throughout August, various Greek and Cypriot musicians are scheduled to perform high-energy summer concerts at different locations across Cyprus, offering a rich cultural agenda despite the heat.
As China experiences peak summer heat, a growing number of young people are turning to traditional Chinese medicine (TCM) practices like 'qushi' (eliminating dampness) to combat fatigue, oily skin, and low energy.
Kazakhstan is shifting its clean energy strategy, making hydropower central after a decade of rapid expansion in wind and solar generation, as it enters a new phase of renewable energy development.
Pakistan's KSE-100 stock index fell 533 points due to profit-taking and broader global market uncertainty, exacerbated by rising oil prices following attacks on shipping in the Strait of Hormuz.
The European Union is providing scholarships to Cambodian students, enabling them to pursue studies in Europe and develop skills in the energy and technology sectors.
OGDC is deploying Canadian Passive Energy Tool technology to enhance heavy oil output, aiming to reduce workover costs and minimize downtime at its mature fields.
The Manufacturers Association of Nigeria (MAN) has launched an Industrial Energy Adoption Programme aimed at reducing energy costs for manufacturers, backed by various partners including the Anambra Government and Norwegian financiers.
Energy analyst Benjamin Nsiah states that President John Mahama’s proposal to shift petroleum sector transactions from U.S. dollars to Ghana cedis would necessitate amendments to the Petroleum Revenue Management Act (PRMA).
Smart building technology, initially envisioned for energy efficiency and climate adaptation, is now confronting significant real-world challenges and limitations, particularly in the face of record heatwaves.
Water levels in the Rhine, Danube, and Po rivers have dropped to record lows due to drought, severely curtailing goods transport and reducing electricity output across Europe.
Consumers in the Philippines are expected to face higher electricity bills this month after the Energy Regulatory Commission (ERC) approved an increase in the feed-in tariff allowance.
Turkey’s inflation slowed slightly more than expected in July, though ongoing conflict in Iran and energy market turmoil are likely to keep the central bank cautious.