Europe

The differentials between dated Brent and Urals crude were unchanged Thursday, amid quiet trading. Market participants are expecting Washington to increase pressure on India to stop purchasing the Russian grade. The nominee of Donald Trump for Ambassador to India, said that Washington and New Delhi are "not that different" in tariffs. He also said that Trump has been very clear about India's need to stop buying Russian crude oil. India is the biggest buyer of Russian Urals crude oil seaborne cargoes. OPEC data released on Thursday showed that Russian oil production rose in August by 50,000 barrels per day to...

The Russian authorities announced on Thursday that they had reopened Krasnodar's main airport, which is one of the biggest cities in southern Russia. Flights were suspended in 2022 for security reasons after the beginning of the Ukraine war. The transport ministry stated that it had solved outstanding security issues. It said the reopening would help local businesses and residents, and provide access to resorts on the Black Sea and Azov Sea coastline. Rosaviatsiya (the aviation watchdog) said that Krasnodar Airport, which had been completely overhauled, would receive its first flight regularly from Moscow when an Aeroflot plane is due to...

Adani Ports and Logistics has issued orders that show the Adani Group in India has stopped accepting vessels sanctioned by Europe, the U.S. and Britain. Adani has not yet commented. Adani operates 14 ports and has issued several orders with similar content. The order read: "To protect the legal and commercial interest of the Port, it is our intention to not accept sanctioned vessels." India, which is the largest buyer of Russian oil by sea, has tightened up its surveillance on vessels and transactions that involve Russian supplies. After the U.S. and EU imposed sanctions on vessels, traders, and companies,...

The U.S. IPO Market is set to have its best week in 2021, as ebullient equities fuelled by robust debuts of notable newcomers are driving the market. renewed enthusiasm After tariff-driven volatility in the early part of the year, the long-awaited recovery was held up by new issues. The Winklevoss Twins' crypto-exchange Gemini and Swedish fintech Klarna are both set to list shares this week in New York, while StubHub will be going public next week. Many would-be issuers are encouraged to test investor interest by the eye-popping performance of high-profile names. In the days after their debuts, the IPO...

Poland shoots down drones It was the first time that a NATO member fired shots in Russia's conflict with Ukraine. Poland reported that 19 objects entered its airspace as part of a Russian air strike on Ukraine. It said it shot down any that were a danger. Donald Tusk, the Prime Minister of Poland, said that he activated Article 4 of NATO's Treaty. This allows members to demand consultations from their allies. Tusk said, "We're dealing with a provocation of a very large scale." "We are prepared to repel such provocation." "The situation is grave, and there's no doubt that...

The local mayor of Wyryki, in eastern Poland, told TVP Info that a drone or other similar object hit a residential building but no one was hurt. Poland destroyed drones which entered its airspace on Wednesday during a Russian attack on western Ukraine. The NATO member called the incursion an "act of aggression". TVP Info reported that Wyryki Mayor Bernard Blaszczuk said, "I received a call at 6:45 am from a worker in the office saying something had fallen." "A drone, or missile, definitely hit the rooftop; we don’t know at this time... He said that the police were providing...

According to the U.S. Federal Aviation Administration (FAA), Poland closed four airports, including the main Chopin Airport at Warsaw, on Wednesday after Russia launched drone attacks near the border with neighbouring Ukraine. In a posting on X, the Polish armed forces stated that military aircraft were activated in order to ensure safety of airspace. However, there was no confirmation from the command as to whether any airports were closed. The military's operational control posted on X that "Polish aircraft and allied aircraft operate in our airspace while ground-based radar reconnaissance and air defence systems have been brought up to the...

The maritime agency NABSA announced on Tuesday that U.S. grains trader Bunge will finish loading 30,000 metric tonnes of Argentine soymeal destined for China by Wednesday. This is the first time such a cargo has been loaded. Bunge sent a soybean meal shipment to China in July. Last month, the company diverted the sale from China to Vietnam due to "commercial reasons." According to NABSA’s daily port activity reports, the Sumatra ship will be loaded at T6 terminal which Bunge jointly operate with Argentina’s AGD, in the port city of San Lorenzo north of the agricultural hub city of Rosario....

Emergency responders in the second busiest seaport of the United States said that 67 shipping containers were thrown into the water by a ship berthed at Long Beach, Southern California on Tuesday morning. There were no injuries reported, and the port was not affected in any other way. Containers fell from the 837 foot (255 m), Portugal-flagged Mississippi, while it was docked at Pier G container terminal. According to Unified Command which includes the U.S. Coast Guard and Long Beach Fire and Police Departments, the Port of Long Beach, and the Army Corps of Engineers, some of the containers that...

Two traders with knowledge of the situation said that the crude oil loadings at the Caspian Pipeline Consortium's (CPC's) marine terminal in Yuzhnaya Ozereyevka, near Novorossiisk, have remained steady so far this month at 1.6 million barrels a day, according to a preliminary export schedule. The revised CPC Blend loading plan for September has not changed from the provisional schedule as the expected disruptions to exports due to an oil spill at the mooring port did not occur. CPC suspended its operations on August 29 due to an accident that occurred during a loading process and a spill of oil...

On Monday, firefighters were called to respond to a possible hazardous materials incident at Heathrow Airport in London. Heathrow Airport, Europe's busiest international airport, announced on Twitter that Terminal 4 was closed while emergency services responded to an incident. All other terminals are operating normally. The London Fire Brigade stated on its website that "specialist crews were dispatched to assess the scene, and Terminal 4 Check-in was evacuated for safety reasons while firefighters conducted operations." They added that they were first notified about the incident at 1601 BST (1701 GMT). The brigade reported that around 20 people were assessed by...

The differentials between Brent and Urals crude were not much changed on Friday. However, Russia's oil plans for September could be revised after a drone attack was carried out on the Rosneft oil refinery in Ryazan. Two industry sources said that Ryazan had suspended operations at the CDU-6, its main crude distillation unit due to an fire caused by a UAV attack. India's finance minister stated on Friday that it will continue to purchase Russian oil if it is economical. This was despite the Trump Administration's decision on Friday to impose high import tariffs on Indian products due in part...

Canada announced five major projects that would be eligible to receive fast-track approvals on Thursday as part of its campaign to diversify its economy and reduce the reliance on United States due the tariffs. A major projects office has been set up by the government of Mark Carney to reduce red tape. Companies can spend a decade to get approval for a mine, pipeline or other project. "We used build large things in this nation, and we used build them quickly." "It's time to get going again," said Prime Minister Carney at a televised news conference. One of the five...

According to Redeia's chair, the owner of grid operator REE, the mismanagement of a large plant of solar panels in southwest Spain left the power system of the country more vulnerable when a major blackout struck the Iberian Peninsula on April 28. The power outage in Spain and Portugal paralyzed many areas for several hours. This prompted numerous investigations by the government, energy watchdogs, and the grid and power companies. Beatriz Corredor, who spoke at a Senate hearing Thursday, said: "We have evidence that shows that the extraordinary oscillation which began at 12.00 was caused by the poor management and...

Sources said that the differential between Urals and Brent crudes in Russia remained unchanged, but that exports of this grade were revised upwards for September due to lower domestic refining. Two industry sources and calculations show that Russia revised its September crude export plans from western ports up to 2.1 millions barrels per day, an 11% increase over the initial schedule. This is due to drone attacks on domestic refining plants reducing local demand for crude. PLATTS WINDOW On Wednesday, there were no bids or offers made on Urals, Azeri BTC Blend or CPC blend in the Platts Window. The...

According to the Commission president, eight bottlenecks in the power grid will be addressed as a priority by the European Union, in order to reduce the uncompetitive prices of energy and improve energy security. "I present today a new project called Energy Highways. Eight critical bottlenecks have been identified in our energy infrastructure. "From the Oresund Strait and the Sicilian Canal", said European Commission President Ursula von der Leyen in her State of the Union Address in Strasbourg. We will work to eliminate these bottlenecks, one at a time. The 27-member states of the EU have a wide range of...

Two sources who have direct knowledge of this matter said that a group of investors, led by BlackRock’s Global Infrastructure Partners, is in discussions with lenders in order to secure financing of up to $10 billion for Aramco’s Jafurah deal. Two sources claim that banks, including JPMorgan, and Japanese lender Sumitomo Mitsui Banking Corporation are in discussions to participate in this transaction. They declined to name the individuals because it was not public information. Aramco BlackRock JPM and SMBC all declined to comment. Aramco will lease the development and usage rights of gas processing facilities located around the Jafurah Gas...

A senior executive of Malaysian state oil company Petronas stated on Wednesday that Southeast Asia was well positioned to export its biofuels into other markets, such as Europe, as the production capacity in the region exceeds demand. Ahmad Adly Alias told the APPEC Conference in Singapore that by 2030, Asia's annual sustainable aviation fuel production capacity is expected to reach 4,000,000 metric tons. He said that "this surplus positions ASEAN to be a viable net-exporter into markets such as Europe." Ahmad Adly stated that Asia's strength lies in the availability of feedstocks, increased production capacity, and an accelerating demand. He...

Argent LNG, a U.S. energy company, has signed a deal to supply 5 million metric tonnes of gas per year with Enerji Piyasalari Isletme AS in Turkey. The move is aimed at supplying U.S. natural gas to Europe and possibly Syria. Argent LNG is building a liquefied gas export facility in Louisiana. In January, it signed a nonbinding agreement with Bangladesh to supply up to 5,000,000 metric tons annually of this fuel. This was the first significant U.S. LNG deal since U.S. president Donald Trump started his second term. The press release stated that "the company has committed to an...

London's Underground rail network halted on Monday, as workers began a strike over pay and conditions of employment. This caused travel disruptions for both commuters and tourists. The underground rail network is expected to be shut down until Thursday. This means that the 3.7 million people who use it daily will have to work from home or find other ways to travel. Forest, which operates 15 000 e-bikes throughout London, reported that it was experiencing four times the demand for its ebikes at 9 am. Some commuters opted for buses or the few remaining train lines, but most reported longer...

London's Tube system came to a halt on Monday, as workers began a strike over pay and conditions of work. This caused commuters and visitors to the British capital great inconvenience. Between Monday and Thursday, there are not expected to be any London Underground trains. The Docklands Light Railway that connects Canary Wharf with the City of London will also not operate on Tuesday or Thursday. Many Londoners chose to cycle to work and others took detours on Monday morning. Laura Sutton, 46 a legal adviser, was at London Bridge Station. She said, "The prospect of having to wait all...

Ukraine's Energy Ministry said that Russian forces attacked a thermal power plant in the Kyiv area as part of a nighttime attack. This caused localised blackouts, and gas shortages. The strikes came a day following the largest air strike by Moscow in its three-and a-half-year war against Ukraine. The ministry posted a message on Telegram saying that the goal was to "cause even more hardship for the peaceful population in Ukraine", and to leave Ukrainian homes and hospitals, kindergartens, schools and other institutions without heat and light. On Monday, rescuers and technical workers were on the scene. The Russian defence...

London Underground workers will begin rolling strikes Sunday. The action is expected to cause major disruptions for Londoners and bring the network to an end. The staff are staging a series staggered walksouts, so there will be almost no "Tubes" between Monday and Friday. The Docklands Light Railway that connects Canary Wharf with the City of London and its financial centre, the City of London will also not run on Tuesdays and Thursdays. The RMT union stated that the dispute was centered on pay, fatigue, shift patterns, and a reduction of the working week. Eddie Dempsey, RMT's General Secretary said:...

Ukrainian officials reported on Sunday that Russia had launched the largest air strike of the war against Ukraine over the weekend, causing the main government building in central Kyiv to catch fire and killing four people including an infant. Volodymyr Zelenskiy, the president of Ukraine, said that the drone barrage and missiles killed four people, and caused extensive damage in the north, the south, and the east of the nation, including Zaporizhzhia and Kryvyi Righ, Odesa and Sumy, and Chernihiv. Zelenskiy, in a recent post on X.com, said that such killings are a deliberate act and a war prolongation. He...