Fugro Swings to Loss as Renewables Slowdown Hits
1.85 billion euros, 427 million euros less than in 2024, of which 380 million euros was attributable to the slowdown of the renewables market.Fugro, which provides geotechnical, survey, subsea and geosciences services, took a hit partly as offshore wind clients suffered a downturn after U.S. President Donald Trump slammed the brakes on U.S. support for renewable energy."In the US under the current administration no new projects are expected," the company said in a press release.Fugro's revenue mix continued to tilt toward oil and gas, which rose to 45% of revenue, up from 37% in 2024 while
US pushes Fisheries Tech at APEC Amid China Rivalry
, the U.S. senior official to APEC, said the Trump administration had launched a $20 million fund to support adoption of American AI technologies by partner economies in the region, part of a broader effort to strengthen U.S. leadership in emerging technologies.The initiatives come ahead of President Donald Trump’s expected visit to China in April and China’s hosting of APEC’s annual leaders’ summit in Shenzhen in November, events likely to spotlight intensifying U.S.-China competition over technology and economic influence across the Asia-Pacific.China is looking to narrow the
Kongsberg Gruppen Q4 Beats Forecast
($251.57 million) in the October to December quarter from the same period of 2024, beating the 2.07 billion crowns predicted in an LSEG poll of analysts.Kongsberg and its rivals have seen a boost in orders as Europe ramps up its military spending at a time of war in Ukraine and as U.S. President Donald Trump demands that NATO allies take more responsibility for the continent's defences."We are experiencing high demand for our solutions in a world undergoing significant change, and we have established a robust foundation for the continued development," Kongsberg CEO Geir Haoy said in
Ukraine Says Underwater Drones Hit Submarine, Russia Denies Damage
period of U.S.-brokered peace negotiations that have sparked fears among Ukrainians that they will be bullied to accept settlement terms with Russia that they see as tantamount to capitulation.Ukraine has been trying to show it can inflict significant damage on Russia, especially after U.S. President Donald Trump said that Zelenskiy did not "have the cards" in the negotiations.Ukrainian navy spokesperson Dmytro Pletenchuk said the operation to hit a submarine - which he described as the hardest target to hit - marked "another turning point" in Ukraine's naval battle with Russia
Fugro's Profit Beats Estimates Amid Offshore Wind Concerns
earlier.Heine reiterated that Fugro would "significantly" reduce its investments next year, but added that it was too early to provide an outlook for 2026.The developments at Fugro highlight challenges facing the offshore wind industry, which has come under pressure from U.S. President Donald Trump leaning on federal agencies to rein in policies incentivising wind power development.The warning from Fugro also comes as major oil companies tighten spending in response to falling crude prices. On Thursday European oil majors Shell SHEL.L and TotalEnergies TTEF.PA both posted third-quarter profits
Uncertainty Reduces New Oil and Gas Investment
growth is no longer realistic," Fugro said, adding it saw the most significant impact in the oil and gas market, along with further softening of sentiment in offshore wind.Meanwhile, a U.S. judge ruled that Orsted can restart work on the nearly finished Revolution Wind project after President Donald Trump's administration halted the project last month. The halt had been costing developers more than $2 million per day.The effects of market uncertainty have been examined in a newly published study by researchers from the University of Oxford. They demonstrate a significant negative relationship
Russian Navy Holds Underwater Saboteur Drills in Baltic Sea
to destroy unmanned boats of a mock enemy", the ministry said.The drills were aimed partly at assessing the navy's anti-submarine sabotage defence units, it said.It was the second time this month that Russia has held naval exercises with an anti-submarine component, after U.S. President Donald Trump said on August 1 he had ordered two U.S. nuclear subs to take up positions closer to Russia.In the first week of August, the Russian and Chinese navies practiced hunting and destroying an enemy submarine in the Sea of Japan.The defence ministry published video of Russian navy commander Admiral
Tariffs Hit India Shrimp Farmers Hard
On India's southern coast, V. Srinivas thrived for two decades by farming shrimp, as the country became the top supplier of the delicacy to the United States. Now, Donald Trump's 50% tariff threat is forcing many to consider other ways of making money.Andhra Pradesh state sends the most shrimp from India to the U.S. and farmers there have spent millions of rupees (hundreds of thousands of U.S. dollars) over the years to cultivate high-quality shrimp in saline ponds.Now they are being hit hard as Indian exporters have slashed rates they offer farmers by almost 20% after the tariff shock, wiping
Europe Moves On as US Lets Science Slide
climate change and weather extremes, according to Reuters interviews.The effort - which has not been previously reported - marks the most concrete response from the European Union and other European governments so far to the U.S. government's retreat from scientific research under President Donald Trump's administration.Since his return to the White House, Trump has initiated sweeping budget cuts to the National Oceanic Atmospheric Administration, the National Institutes of Health, the Environmental Protection Agency, the Centers for Disease Control and other agencies, dismantling programs
February 2026
