Asia

Tropical storms passing through Taiwan caused torrential?rains? that shut down southern Taiwan, forcing more than 5,000,000 people to miss work or school. Japan also issued flood and landslide alerts. The outer bands of Typhoon Mekkhala - now a tropical storm - are bringing heavy rains to some parts of Taiwan. This is especially true in Kaohsiung and Tainan in the south. On Friday, the governments of three Taiwanese regions with more than five million residents ordered all offices and schools to close. Flooding in Tainan caused a section of main north-south rail line to be closed. Japan also experienced heavy...

A typhoon passing through southern Taiwan caused torrential rains, forcing more than 5 million people to miss work or school. Flooding also cut off a section of the main rail line. While Typhoon Mekkhala is currently over the Ryukyu islands in southern Japan, it did not directly landfall on Taiwan. However, its outer bands brought heavy rains to some parts of the island. All three governments, where more than 5 million people reside, have ordered that offices and schools be closed on Friday. The separate high-speed rail line did not report any problems, but a section of Tainan's main north-south...

After a vessel was struck in the Gulf of Oman, the?United Nations Shipping Agency halted an evacuation effort on Thursday, aimed at getting hundreds of stranded vessels and tens of thousands of seafarers through 'the Strait of Hormuz. "I was informed of a ship that had passed through the Strait of?Hormuz today being attacked in the Gulf of Oman. The vessel was not evacuated under the IMO framework", Arsenio Dominguez, Secretary General of?the U.N. International Maritime Organization said in a press release. "I've decided to temporarily pause the implementation of this plan in order to confirm that all the necessary...

The prices of Caspian crude oil grades such as Kazakhstan's CPC Blend and Azerbaijan Azeri BTC are falling despite the growing pressure on European barrels, traders said. The difference between Caspian crude oil and Brent has weakened in line with the global trend. As Gulf oil supplies increase, physical cargoes in many regions are now at discounts to Brent. Iran is expected to boost sales after a temporary easing of U.S. sanction. On Wednesday, oil prices fell further, continuing the declines that began earlier in the week. They are now hovering at four-month lows as more tankers, which have been...

The Japan Meteorological Agency announced on Thursday that no tsunami warning had been issued following an earthquake of magnitude?6.9 which struck the east coast of Japan's northeastern Tohoku area. The agency stated that the epicentre was located off the coast of Iwate Prefecture at a depth of 50km. No tsunami damage is expected except for "slight changes in sea level". It said that the earthquake in Aomori had an intensity of 6+, which is a situation where "it's impossible to stand or move without crawling" on a Japanese scale from 0-7. Tohoku Electric Power has said that no irregularities have...

The ambitions of the Democratic Republic of Congo in cobalt are?becoming more and more clear. Export restrictions have been used by the world's biggest producer of strategic metals, which are used in everything from stealth bombers to mobile phones, to reduce excesses and raise prices. Kinshasa is trying to shift its focus away from Chinese operators and towards the United States, as it gains more control of its cobalt industry. This rebalancing is accompanied by a renewed effort to integrate the artisanal and smaller-scale mining sector (ASM), a minefield of ethical issues for Western cobalt purchasers, into official sectors. MOVING...

A spokesperson announced on Wednesday that ships have started sailing through the 'Strait of Hormuz' under a new scheme by the U.N.'s shipping agency in order to evacuate vessels trapped there by the conflict. International Maritime Organization announced on Tuesday that the initiative, which took months to complete, would allow hundreds of ships and 11,000 seafarers stranded at the Gulf of Mexico to pass through Hormuz. A spokesperson for the IMO said that "ships have already started to pass under this plan", refusing to give any details about the vessels that have crossed. LSEG ship-tracking data showed that at least...

The major Gulf stock exchanges rose in the early trading on Wednesday, amid signs of progress in U.S.Iran negotiations. However, there was still uncertainty about?the durability? of the agreement. The two countries that concluded the first round of negotiations on Monday in Switzerland gave contradictory accounts of some key elements of the Framework Agreement signed last week for the end of the war. These included financial incentives to Iran, control of the Strait of Hormuz, and Israel's war in Lebanon. Donald Trump, the U.S. president, said that Iran agreed to nuclear inspections in "infinity" on Tuesday. Tehran denied this concession...

Cobalt ambitions of the Democratic Republic of Congo are becoming more and more apparent. Export restrictions were used by the world's biggest producer of the strategic metal used in everything from stealth bombers to mobile phones, to "drain" the market and raise prices. Kinshasa, as it gains more control of its cobalt industry, is also trying to lessen its reliance on Chinese operators, and pivot toward the West, particularly the United States. The rebalancing is accompanied by new attempts to integrate the artisanal and small-scale mining (ASM), a minefield of ethical issues for Western cobalt purchasers, into official sector. MOVING...

The U.S. government said Monday that it is investigating the crash of a Tesla Model 3 on June 19, which was using a driver assistance system at the time. It struck a house in Katy, Texas and killed a woman aged 76. Since 2016, the National Highway Traffic Safety Administration (NHTSA) has opened more than 50 "special crash investigations" into Tesla incidents in which advanced driver assist systems like Autopilot are suspected of being used. About two dozen fatalities have been reported. Separately in March, NHTSA escalated its investigation into 3.2 Million Tesla vehicles equipped with "Full Self Driving" due...

Exxaro Resources, a South African miner, said Monday that it wants to 'transport more manganese by rail instead of road in order to reduce costs and improve efficiency at its newly-acquired assets. Exxaro CEO Ben Magara stated that the company, along with its competitors, were working together with Transnet, a state-owned firm in freight transport, to increase freight capacity. Transnet is opening up parts of its network for private investment. Exxaro reported that hauling manganese via road costs?37% higher than rail. Exxaro said that logistics costs accounted for 43% for the free-onboard costs of?the bulk minerals. Johan Meyer, Exxaro's head...

The grain freight rates in Ukraine are down despite the 'ongoing Russian attacks' on Black Sea ports, ASAP Agri said on Monday. They cited a seasonal decline in cargo flow. Last week, officials and industry executives told? Last week, industry executives and officials told? The Ukrainian Navy said Monday that a Russian drone?hit a Turkish dry cargo vessel, causing an extensive fire on board. Ukraine is a major grain exporter in the world, and its Black Sea port handles more than 90% of its exports. ASAP Agri stated that as Ukraine closes its 2025/26 summer-july export season, the historically low...

Iraq's Oil -Ministry announced on Friday that OPEC had 'begun slowly restoring Iraq’s prewar production allocations'. This'move', it claimed, would'strengthen Iraq's output 'capacity' and support the recovery of its oil industry. Baghdad, according to a state-run news agency, supports a reevaluation of OPEC's production quotas in order to reflect the conditions of member?states, including Iraqi economic and security circumstances. The statement said that Iraq's Prime minister Ali?Faleh Al-Zaidi has not spoken about the possibility of Iraq quitting OPEC. Sources with knowledge said that Iraq, OPEC’s second largest producer - after Saudi Arabia - and one of the five founding'members', had...

Data showed that after an interim agreement to end the Iran War, the Fertiliser shipments through the Strait of Hormuz began to increase. Analysts say, however, it will be some time before they return to their pre-conflict level and bring relief to the market. Before the U.S. launched their war with Israel on February 28, a third or more of the global urea trade -- the most commonly used fertiliser in the world -- and almost half of the seaborne sulphur -- a critical input -- typically passed through the strait. But the near-closure of the crucial waterway during most...

Maxim Timchenko, the CEO of Ukraine's biggest private power and coal company DTEK, said that it plans to upgrade its infrastructure to switch from coal to natural gas and nuclear energy in order to?phase out? its coal use by 2035. The global progress in phasing-out carbon-intensive coal is uneven. While many countries hesitate to invest in the energy transition, Ukraine was forced by Russia's conflict to upgrade its infrastructure. Timchenko stated that about 80% equipment at the coal-fired stations in Ukraine was damaged or destroyed last winter by Russian attacks. DTEK has announced its plans for energy transition to reach...

In recent months, Ukraine intensified its attacks on Russian energy infrastructure. The war is now in its fifth year. Fuel shortages are worsened by drone attacks in Russia. People have reported rising prices and long lines at filling stations in most regions. Here is a list of recent attacks, starting with the newest. NORSI NORSI - Russia's fourth largest oil refinery owned by Lukoil, halted operations on Wednesday after a Ukrainian drone strike, which is likely to worsen fuel shortages across the country, according to two industry sources. NORSI is the second largest producer of gasoline in Russia. It can...

The?U.N. The?U.N. The repairs were carried out in two separate locations: the switchyard at the Zaporizhzhya thermal power plant, which supplies electricity to the ZNPP via the backup 330 kV Ferosplavna-1?line, according to the agency. The Dniprovska Line has not been brought back to operation yet due to?extensive damages at its connecting substation. The International Atomic Energy Agency's Rafael Mariano Grossi stated in a statement that the line had been repaired but still needed to be brought back into operation. The agency stated that repairs to the substation are ongoing but not expected to be completed in the near future....

Sevastopol has limited the power supply to homes in order to avoid overloading the network. This is according the the Russian-installed Governor of Crimea's biggest city, who spoke on Thursday. The Black Sea Peninsula is currently experiencing fuel and electricity shortages. Crimean authorities already have suspended fuel sales for private motorists. Sevastopol, on the other hand, has implemented restrictions to operating hours of public transport, shops and cafes. In 2014, Russia annexed Crimea, despite the fact that most countries don't recognise Moscow's authority in the region. Kyiv, however, has stated it will never cede this territory. The fuel supply to...

As a result of the Ukrainian drone attacks, Russia will ship record volumes of crude oil from its western ports in June. Sources said that loadings at the Baltic ports Primorsk and Ust-Luga as well as the Black Sea port Novorossiysk are expected to be around 2.7 million barrels per day this month. One source said that shipments could reach as high as 2,8 million barrels per day. This would be a significant increase over the 2.5 million barrels per day (bpd) exported in May, and about 1 million above the initial forecast for the month. As a result of...

Four industry sources said that Russia and Kazakhstan are in discussions to import 50,000 metric tons of AI92 to alleviate a 'domestic shortage' caused by refinery failures and unscheduled maintenance. As of late June, the shutdowns at several large refineries in central Russia following Ukrainian drone attacks had reduced gasoline production by about 25% on an annual basis. The Russian Energy Ministry declined to comment immediately. Erlan Akkenzhenov, Kazakhstan's energy minister, said earlier that Astana hadn't received a formal request for gasoline from Moscow. The Russian government is considering measures for stabilizing the market. These include fuel export restrictions and...

Local officials reported that Ukrainian drones targeted energy infrastructure in central and southern Russia and the largest city in Russian-held Crimea. This highlights the'reach' of Kyiv’s attacks. Ukraine intensified its strikes against Russian oil refineries and depots this year, driving up the price of gasoline in Russia where authorities have restricted sales in certain regions. The fuel shortages in the Crimean peninsula have been especially acute since Russia's annexation of the peninsula in 2014. Sevastopol's newly-installed Russian governor has ordered the early closure of cafes, public transport, and street lights to protect Sevastopol from overnight attacks. He said that the...

A public document revealed that the owner of the Gazprom controlled Nord Stream 2 pipeline has filed a lawsuit against the European Union at the second highest court in the bloc, attempting to overturn the EU's phase-out of binding gas imports from Russia. In response to Moscow's invasion of Ukraine in 2022, the EU passed a law requiring all Russian gas imports to cease by late 2027. This would cut off all ties with Europe’s former largest supplier. The ban prevented the revival of the Nord Stream System - two double pipes under the Baltic Sea built by Russia's Gazprom...

By America Hernandez PARIS, June 23. CEO Patrick Pouyanne told an energy conference held in Paris that TotalEnergies must 'prioritise' the construction of pipelines to?export gas and oil?from the Middle East without having to send ships through the Strait of Hormuz. Pouyanne was asked to share his lessons learned over the past three-months of the Iran crisis, as Total is the major oil company most exposed to the Middle East. The Iran war has crippled the waterway that carries a fifth of the world’s oil to global markets. "The Strait of Hormuz is a real threat. We must act." "There...

Russian regions are restricting fuel sales due to a lack of certain grades of gasoline and diesel and long lines at the filling stations. This is because Ukrainian attacks on oil refining facilities have disrupted supply. The following are statements by Russian regional authorities and companies on the current situation: CENTRAL RUSSIA Surgutneftegaz, Tatneft and the authorities in Tver announced on the 20th of June that temporary restrictions were introduced for individuals at the Surgutneftegaz & Tatneft gasoline stations because of increased demand. Igor Artamonov, the Governor of Lipetsk, said that several filling stations in the region, including?the cities?of Lipetsk,...