Benelux & Ireland in May 2026: the most important developments in economy
In May 2026, the economic news from the Benelux countries and Ireland was led by the energy sector. Shell reported a profit of $6.9 billion for the quarter, above expectations, and raised its dividend by 5%. The company withdrew from French retail, where BP and Esso were also reported to be leaving, and some of its German stations briefly sold diesel at a reduced price because of a technical glitch. Shell also returned to the Dutch Supreme Court in a landmark climate case. Elsewhere in the sector, BP dismissed its chairman Albert Manifold without notice, citing serious concerns, and Ryanair declined to issue a profit forecast, warning of higher costs from the war in Iran.
Carmaking was the second major theme, centred on Stellantis. The company and Chinese electric vehicle maker Leapmotor agreed to expand their partnership and build electric cars in Europe, with production likely at plants in Zaragoza and Madrid. Stellantis then announced small electric vehicles for production in Italy, a EUR 1 billion deal with China's Dongfeng, and an agreement to build Dongfeng cars in France. It also opened a dismantling centre in Morocco, and Wayve's self-driving technology is to be fitted to US vehicles made by Stellantis. Separately, Tesla chief Elon Musk pushed for European approval of Full Self-Driving, with the Netherlands a possible first market.
The Dutch chip industry drew attention as well. ASML's chief executive said the company's position in chip-making equipment is unchallenged, that the first chips from its High-NA machines should arrive within months, and that tighter export curbs could push China to develop rival tools. The Dutch foreign minister spoke of India's rise as a semiconductor hub, and the Tata-ASML deal was examined in that light.
Other items included the Netherlands banning goods produced in Israeli settlements, and the Dutch government blocking a US company's acquisition, citing a risk to the public interest. The EU approved the German state's entry into power grid operator TenneT. On 26 May a train struck a school minibus in Kortrijk, Belgium, killing four people, including two children.
by WorldBrief & Maksim Micheliov | AI-generated summary
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