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EUROPE POWER-Friday prices gain on lower German wind, solar output

By Reuters Staff
2 Min Read
PARIS, Feb 25 (Reuters) - European spot electricity prices for Friday delivery gained on Thursday due to a forecast of falling wind and solar power generation in Germany.
The price of over-the-counter baseload for Friday delivery in Germany was up 6.2% to 48.30 euros a megawatt hour (MWh) at 1009 GMT.
The French day-ahead contract added 6.2% to 48.25 euros/MWh.
Electricity generation from German wind turbines is expected to fall by 1.8 gigawatts (GW) day-on-day to 13.4 GW, while solar power generation is expected to drop 2.2 GW to 3.6 GW, Refinitiv data showed.
“We expect wind power output to decrease in the first half of the day, and increase in the latter part of the day tomorrow,” Refinitiv analysts said. ....

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French energy group EDF buys stakes in Kenyan companies

By Reuters Staff
1 Min Read
Electrical power pylons of high-tension electricity power lines are seen next to the EDF power plant in Bouchain, near Valenciennes, France, July 7, 2020. REUTERS/Pascal Rossigno/File Photo
PARIS (Reuters) - EDF has struck deals to buy stakes in Econet Energy Kenya and Bboxx Kenya, it said on Thursday, as the French state-controlled power firm looks to boost its presence in Africa and in renewable energy.
EDF said it had bought a 50% stake in solar energy firm Econet Energy Kenya and a 23% stake in off-grid energy company Bboxx Kenya. The financial terms were not disclosed.
Reporting by Sudip Kar-Gupta; editing by Jason Neely ....

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Large crude unit shut at Lyondell Houston oil refinery: sources

Lyondell Basell Industries shut the large crude distillation unit (CDU) at its 263,776 barrel-per-day (bpd) Houston oil refinery on Tuesday to begin repairs to the cooling water system, said two sources familiar with plant operations. ....

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Reddit recovering from outage that affected thousands of users

Reddit recovered from an hour-long outage that affected thousands of users on Wednesday afternoon as volatility returned to stocks including GameStop GME.N> and AMC that were at the center of a slugfest between retail traders and Wall Street. ....

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Occidental Petroleum posts larger quarterly loss on asset sale

3 Min Read
HOUSTON (Reuters) - Occidental Petroleum Corp on Monday posted a larger-than-expected fourth-quarter loss despite higher oil and gas prices as an asset sale weighed on results.
FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid
The U.S. producer has slashed jobs and output after the coronavirus pandemic hammered global energy demand, pressuring an energy company that had loaded up on debt in 2019 to acquire an oil rival. Its fourth-quarter loss widened to $731 million compared with a $269 million loss in the same quarter a year ago. ....

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