Latest News
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A strike has halted grain shipping at Rosario Port in Argentina
The head of CAPyM, the private chamber of ports in Argentina, said that grain and agroindustrial product ships would not be able to dock at or leave Rosario's agroport hub due to a strike by the CGT union against the government policies on Thursday. The CGT action, which unites numerous unions across the country, starts at midnight (0300 GMT) on Thursday and will last for 24 hours. Guillermo Wade of the Chamber of Port and Maritime Activities said, citing the strike of the Maritime Workers Union and river navigators union. Wade said that ships already moored at ports would be able load grain and derivatives but they wouldn't be able set sail. On Tuesday, the two unions representing workers at soybean oil plants announced that they would join the strike called for by the CGT. The CGT is a libertarian government led by President Javier Milei and has been rejecting the austerity policies of his government. Argentina is a leading exporter in the world of soybean oil, meal and corn. It also has a large supply of wheat. (Reporting and writing by Isabel Teles, editing by Barbara Lewis.)
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Caspian Pipeline partially restores Kazakh Oil Loadings in Black Sea
It said that the Caspian Pipeline Consortium had resumed oil loading at one of the two Black Sea moorings previously closed, following a Russian Transport regulator's restrictions. Officially, the CPC was targeted because of inspections in relation to an oil spill that occurred in December. They came after OPEC+ had Pressed Kazakhstan will reduce production to meet agreed-upon production quotas. The move has sparked diplomatic activity between Russia, Kazakhstan and fueled concerns about a possible drop in oil sales from Central Asia. 80% of Kazakhstan's oil exports go through the CPC. The court overturned the decision of the Transport Watchdog on Friday, and ruled that the CPC terminal facilities could not be suspended. It said that the CPC, which is owned by Chevron, ExxonMobil and others, now operates at two of its three moorings. CPC uses two moorings and keeps the third one as a back-up. The CPC said that it would provide more information about the resumption in operations of Single Point Mooring-2. Sources familiar with CPC operations say that the consortium's operations and exports would still be affected without the third mooring. OPEC+ ANGERING Resuming loading will help prevent a possible fall in Kazakhstan's crude oil exports. Two industry sources report that the initial plan for Black Sea CPC blend oil exports in April was revised downward to 1.6 millions barrels per day (6.2 million metric tonnes) from 1.7million bpd. Sources said that the decline in loading was due to the fall in Russian oil exported via the CPC. There will also be no oil supplies from the Krasnodar oil depot, which had a major fire after a drone strike in March. The extent of the damage to exports via CPC and its impact have been reported in conflicting ways. After a nearby pumping station had also been attacked one month before, Alexander Novak, the Russian Vice-Premier, said that oil flow via this route had decreased by 30-40%. Kazakhstan, however, said that the flows were unaffected. Since the beginning of Russia's conflict in Ukraine, the CPC has been in a spotlight. The damage caused by the CPC led to it closing all but one mooring point several times during 2022. This severely reduced exports along this route. The pipeline is a main oil export route for Kazakhstan. Due to the rising production of the Tengiz oilfield, owned by Chevron, the country has breached export quotas in the OPEC+ producer groups, which include OPEC, Russia, and other countries. Sources have said that Saudi Arabia and other members of the group are angry about Kazakhstan's increasing oil production. OPEC+ urges the Central Asian nation, as well as other members, make further reductions to compensate for excessive production. OPEC+ announced on Thursday that it would increase its output before the scheduled date, a sign the group had confidence non-compliant member countries would reduce their output in the coming week. (Reporting and editing by Jan Harvey, Joe Bavier and Olesya Astakhova)
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Producers say that Ukraine's soybean exports to the EU could increase amid tariff war
The Ukrainian Farm Producers Union UAC stated on Wednesday that Ukraine could increase its soybean exports into the European Union, if the U.S.-EU trade dispute escalates. Ukraine harvested a record of 6.2 million tons of soybeans in 2024. However, due to the volatility in prices this year's sowing area could be reduced. U.S. president Donald Trump announced that a minimum 10% tariff would be applied to most U.S. imported goods, and significantly higher duties will apply to goods from China and other countries. This is likely going prompt countermeasures which could drive up prices or reduce demand for U.S. products. UAC stated in a press release that "if the situation between duties between the U.S. The report noted that "Europe has already increased its purchases of Ukrainian goods, and this trend will likely intensify in coming months." Analysts in Ukraine's agricultural sector said that Ukraine-origin grain, a major commodity within the country's grain industry, could benefit from tariffs imposed by America, since it can partially replace U.S. Corn if retaliatory measures are taken. UAC reported that traders exported 93,000 tonnes of soybeans in April. Ukraine exported 369,000 tonnes of soybeans in march, 391,000 in february and 194,000 in January. APK-Inform analyst said that last month, Ukraine's soybean crop in 2025 may be between 5,8 and 6,2 million metric tonnes. The final volume of the harvest will depend on how much rain falls in May and in June. This will determine the yields. (Reporting and editing by Ed Osmond, with Pavel Polityuk)
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By 2027, a Pakistani consortium will begin production at ADNOC Block-5 offshore.
The CEO of Pakistan's Oil and Gas Development Company Limited said that the company expects to begin production in Abu Dhabi’s Offshore Block-5 before 2027. It also plans to increase domestic oil and natural gas output and diversify into minerals. OGDCL and Abu Dhabi National Oil Company (ADNOC), partnered in 2021, to explore and develop the oil and gas resources of the block. Ahmed Hayat Lak (Managing Director and CEO of OGDCL) said that the company is still evaluating the reserves, but believes production can start as early as 2027. Lak stated that the company aims to reach 50,000 barrels of oil per day, an increase from 37,000, as well as 1 billion cubic feet of gas, a rise from 800 million cubic foot, within the next three-year period. Lak said, "We have developed short-term, mid-term, and long-term strategies or business plans for investing in tight-gas," following the improved prices by the government. Lak said that the company would diversify its operations when he spoke on the sidelines the Pakistan Minerals Investment Forum. OGDCL owns an 8.3% stake of the copper-gold mine Reko Diq in Pakistan. Lak said, "We decided to diversify our business into the mineral sector as part of our strategy. Yesterday, we also agreed to partner up with Barrick Gold on other exploration licenses." Lak described the company's stake of the Reko Diq copper and gold project as a "game changer". He added that lithium exploration would also be a priority for the company. Reporting by Ariba Sharif in Karachi, Alison Williams edited the article.
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Jordan purchases about 60,000 tons of feed barley at tender, traders claim
European traders reported that Jordan's state grain purchaser purchased approximately 60,000 metric tonnes of animal feed barley on Wednesday in an international bid seeking up to 120,00 tons. The trading house Olam was reported to have purchased the grain at a cost and freight included of $235.00 per ton. It is expected to be shipped during the second half July. The reports reflect the opinions of traders and it is still possible to estimate prices and volume later. Traders said that a new tender of 120,000 tons feed barley will be released by Jordan within the next few days. They said that the new tender will close on 16 April and is expected to request shipment for the entire month of August or September. The barley purchased on Wednesday may come from a variety of origins. Other trading houses also participated in the tender on Wednesday. Their estimated offers per ton were: CHS 242,78, Cargill 239.35, Viterra 239.89, Ameropa 244,90, Al Dahra 241 and Dreyfus 239,50. Jordan also announced a tender on Wednesday to purchase 120,000 tons milling wheat, which closes April 15. (Reporting and editing by Michael Hogan)
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US pulls out of carbon talks with shipping and urges others to do the same - document
A diplomatic note stated that the United States had withdrawn from London talks on decarbonisation of shipping and Washington would consider "reciprocal actions" to offset any fees assessed to U.S. vessels. This week, delegates are meeting at the UN Shipping Agency's headquarters to discuss decarbonisation measures that will enable the shipping industry worldwide to achieve net zero emissions by "around 2020". A proposal submitted by a group of countries, including the European Union to the UN International Maritime Organization was aimed at reaching agreement on the first carbon levy in shipping for greenhouse gas (GHG). The United States has sent a diplomatic message to its ambassadors that stated, "The U.S. rejects all attempts to impose economic sanctions against its ships on the basis of GHG emissions or fuel choices." "These reasons, the U.S. will not be participating in the negotiations at the IMO 3rd Marine Environment Protection Committee between 7-11 April. We urge your government to reconsider their support for the GHG emission measures that are under consideration." The note did not specify how many countries of the 176 members of the IMO received it. The note from Washington stated that "should such an egregiously unfair measure be implemented, our government would consider reciprocal actions so as to offset any fee charged to U.S. vessels and compensate the American public for any economic harm caused by any adopted GHG emission measures." Washington is also against "any proposal that would fund any other environmental or other projects outside of the shipping sector", according to the note. When contacted by phone late Tuesday, U.S. officials at Washington declined to comment immediately. A spokesperson for the IMO said that no communication had yet been received by the IMO. Environmentalists and investors have called for more concrete actions, such as a carbon tax, to be taken by shipping, which accounts for 90% of global trade and nearly 3% the carbon dioxide emissions. Delegates involved in the IMO said that despite the US move, the discussions on Wednesday continued. "The US is among 176 IMO members states. Albon Ishoda is the Marshall Islands' special envoy to maritime decarbonisation. In this period of market instability, a clear directive from the IMO meeting is more important than ever. We will continue to negotiate with those who are willing to talk. China and Brazil were among the countries who opposed a flat tax on carbon emissions for shipping, arguing that it would penalise emerging economies which are heavily dependent on trade. President Donald Trump ordered that the U.S. Withdrawal The United States has withdrawn from the Paris Climate Agreement for the second time. This means that the nation is no longer part of the global pact to push nations to combat climate change. Reporting by Jonathan Saul and Michelle Nichols; editing by Sharon Singleton, Chizu Nomiyama, and Gram Slattery.
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Shipping group Mitsui O.S.K. CEO of shipping group Mitsui O.S.K.
Mitsui O.S.K. Lines (MOL), Japan's second largest shipping company, is looking to capitalize on the opportunities created by a shift in routes due to new U.S. Tariffs, said CEO Takeshi Hashimoto. The U.S.'s highest tariffs in over a century came into effect on Wednesday, shaking the global markets. Hashimoto said in an interview with Reuters on Tuesday that "Trade routes are bound to be reshuffled". He said that we'd likely see an increase in trade with low-tariff nations and a decline from high-tariff countries. Some cargos might be rerouted to Mexico or Canada where tariffs are lower. MOL will monitor changing trade patterns, and take advantage of new opportunities. Hashimoto stated that U.S. grain and energy exports to Asia may be affected, and countries such as China could turn to alternative suppliers like Brazil or Argentina for grain and Qatar for LNG. Hashimoto stated that MOL may open a Washington office to collect information and lobby for MOL. He added that trade routes were also re-routed during the first Trump Administration in response to tariffs. He said that during the first Trump administration, trade routes were also rearranged in response to tariffs. The CEO thinks Trump's aim is to reach favourable trade agreements, which makes a full-scale war on tariffs unlikely. LNG FLEET EXPANSION MOL, which is the largest LNG carrier in the world, plans to increase its fleet of LNG vessels from 108 to 150 by 2030. Hashimoto expects the demand to continue to rise into the 2030s, before it begins to decline. Hashimoto added that global LNG use could be significant in 2050. MOL has signed charter agreements for three LNG icebreakers and one condensate-icebreaker between 2020 and early 2022 for the Arctic LNG 2 Project in Russia. However, Hashimoto stated that delivery of these vessels are on hold because of Western sanctions. Hashimoto stated that MOL and Alaska have been in intermittent contact for some time on the subject of Alaska LNG. However, pipeline issues are still unresolved. He did not attend the Alaskan delegation's recent visit to Japan but expressed his willingness to take part in LNG transport if the Alaska LNG project is successful. Hashimoto stated that the company could raise shareholder returns in 2025/06 after the company generated strong profits in the last two years. The equity capital has also increased to over 2.5 trillion yen (17.20 billion dollars) Hashimoto stated that they were considering a slight increase in shareholder returns, but a final decision would only be made once the tariffs from the United States are assessed. ($1 = 145.3200 yen) (Reporting by Yuka Obayashi. Editing by Jane Merriman
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US pulls out of carbon talks with shipping and urges others to do the same - document
A diplomatic note stated that the United States had withdrawn from London's talks on decarbonisation of shipping and Washington would consider "reciprocal" measures to offset any fees levied to U.S. vessels. This week, delegates are in the UN Shipping Agency's headquarters for discussions on decarbonisation initiatives aimed at helping the shipping industry reach net zero emissions by "around 2020". A proposal submitted by a group of countries, including the European Union to the UN International Maritime Organization was aimed at reaching agreement on the first carbon levy in shipping for greenhouse gas (GHG). The United States has sent a diplomatic message to its ambassadors that stated, "We reject any and all attempts to impose economic sanctions against our ships based upon GHG emissions or fuel choices." "For these reason, the U.S. will not be participating in negotiations at IMO 3rd Marine Environment Protection Committee (7-11 April) and urges your Government to reconsider its support of the GHG emission measures being considered." The note did not specify how many countries of the 176 members of the IMO received it. The note from Washington stated that "should such an egregiously unfair measure be implemented, our government would consider reciprocal actions so as to offset any fee charged to U.S. vessels and compensate the American public for any economic harm caused by any adopted GHG emission measures." Washington is also against "any proposal that would fund any other environmental or other projects outside of the shipping sector", according to the note. When contacted by phone late Tuesday, U.S. officials at Washington declined to comment immediately. A spokesperson for the IMO said that no communication had yet been received by the IMO. Environmentalists and investors have called for more concrete actions, such as a carbon tax, to be taken by shipping, which accounts for almost 3% of global carbon dioxide emissions. (Reporting and editing by Sharon Singleton, Michelle Nichols, Gram Slattery, Kate Abnett, Jonathan Saul)
Trump's energy actions on his very first day
U.S. President Donald Trump released a. flurry of orders within hours of his inauguration on Monday. planned to improve the nation's currently recordhigh oil and gas. production and loosen up previous President Joe Biden's environment. agenda.
Here are some of the actions Trump handled his first day:
ENERGY EMERGENCY SITUATION
Trump stated a national energy emergency, meant to. supply him with the authority to reduce ecological. limitations on energy facilities and projects and ease. permitting for brand-new transmission and pipeline infrastructure.
It allows you to do whatever you have actually got to do to get ahead. of that issue, Trump informed press reporters while signing the order. And we do have that sort of an emergency situation.
Earlier in the day, he discussed the reason for the. declaration: The inflation crisis was triggered by massive. spending beyond your means and escalating energy rates, which is why today. I will likewise declare a nationwide energy emergency. We will drill. infant, drill.
He has formerly said that rising electrical power demand from. the innovation market, mainly to sustain expert system,. needed a huge grid overhaul.
LNG ALLOWS
Trump released an order for the U.S. to resume processing. export permit applications from brand-new liquefied gas. jobs supplying Asia and Europe, efficiently reversing a. pause Biden put in location in early 2024 to study the. environmental and economic impacts of the booming exports.
U.S. exports of the super-chilled fuel set a record in 2023. and the nation is the world's largest exporter of the item. However the time out in brand-new export allows produced uncertainty for a. multitude of jobs in the works.
Plants in Louisiana awaiting approvals include Commonwealth. LNG, Endeavor Global's CP2, Cheniere Energy's growth. to its Sabine Pass facility and Energy Transfer's Lake. Charles terminal. In Texas, a second stage of Sempra's. project Port Arthur LNG, awaits approval.
BYE-BYE PARIS
Trump ordered the U.S. withdrawal from the Paris environment. deal, a global arrangement to eliminate environment modification,. duplicating a relocation he made in his very first term.
Trump has called environment alter a scam, and states the accord. puts the United States at a competitive drawback to. geopolitical competitors like China.
I'm immediately withdrawing from the unfair, one-sided. Paris environment accord dupe, he stated. The United States will. not undermine our own markets while China contaminates with. impunity.
OFFSHORE WIND
Trump suspended brand-new federal overseas wind leasing pending an. environmental and financial evaluation, stating wind mills are ugly,. costly and harm wildlife.
We're not going to do the wind thing, he said.
A White Home news release said Trump provided an executive. action suspending overseas wind leasing from all areas of the. U.S. external continental rack pending an environmental and. financial evaluation.
The order is not anticipated to affect existing U.S. offshore. wind jobs being advanced by companies including Orsted. , Avangrid, Copenhagen Infrastructure Partners, and. Rule.
Biden saw wind power as a vital part of his technique to. decarbonize the power sector.
EV TARGETS
Trump took goal at electrical cars, revoking a 2021. executive order signed by Biden that sought to guarantee half of. all brand-new lorries offered in the United States by 2030 were. electric.
Biden's 50% target, which was not legally binding, had actually won. the assistance of U.S. and foreign automakers.
Trump stated in an executive order he was halting circulation. of unspent federal government funds for lorry charging stations from a. $ 5 billion fund, called for ending a waiver for states to embrace. zero-emission car guidelines by 2035 and stated his administration. would think about ending EV tax credits.
DRILL, BABY, DRILL
Trump signed an executive order rescinding Biden's efforts to. block oil drilling in the Arctic and along big areas of the. U.S. coasts, according to the White Home.
Trump also repealed a 2023 memo that disallowed oil drilling in. some 16 million acres (6.5 million hectares) in the Arctic, the. White Home revealed.
It's uncertain if the moves would suffice to bring in huge. drillers, who have avoided the area over the last few years. due to relatively high costs of development.
Biden this month prohibited brand-new overseas oil and gas development. along most U.S. coastlines ahead of Trump taking office.
REFILL THE STOCKPILE
Trump said he intends to fill strategic reserves ideal to. the top.
That's likely a recommendation to the U.S. Strategic Petroleum. Reserve, the nation's stockpile of crude oil, developed as a. buffer versus supply shocks.
After the intrusion of Ukraine, Biden had actually sold more than 180. million barrels of petroleum from the reserve, a record quantity.
The sales helped keep gas costs in check, however sank the. reserve to the most affordable level in 40 years.
We will bring rates down, fill our tactical reserves up. again, right to the top, and export American energy all over the. world, Trump said.
He will likely aim to Republican lawmakers to give him the. money for the oil purchases in the coming weeks.
(source: Reuters)