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Kazakhstan reduces 2026 oil production target after Ukrainian CPC strike
Erlan Akkenzhenov, Energy Minister of Kazakhstan, said that the country has reduced its oil production target for 2026 to 96 million metric tons from 98 millions due to Ukrainian drone strikes on the Caspian Pipeline Consortium. CPC transports around 80% Kazakhstan's oil via the Russian Black Sea Port of Novorossiysk. In recent months, tankers that serve the outlet were targeted by Ukrainian drones. This drew criticism from Kazakhstan. Akkenzhenov, speaking to journalists in Astana said: "The oil-production plan will be adjusted because of the attacks against the CPC... Due to the 'attacks in January, and the ongoing attacks throughout June and July, approximately 3.5 millions tons were lost." "We had originally planned to produce 98 millions tons but now our target has been reduced to 96 million tonnes," he said. Kazakhstan, Central Asia’s largest economy, is heavily dependent on the CPC. It accounts for 2% of daily global oil supply, but it's also heavily reliant upon CPC. Capacity constraints prevent alternative export routes, such as across the Caspian Sea or to Azerbaijan or Turkey. Kazakhstan supported Ukraine's territorial unity while condemning Ukrainian attacks against the CPC. Akkenzhenov stated that oil exports via the CPC are operating normally at present. Kazakh President Kassym Jomart Tokayev publicly urged Russian president Vladimir Putin and Ukrainian President Volodymyr Zelenskiy to pursue peace talks. Akkenzhenov said that planned maintenance on the Karachaganak gas and oil condensate fields is expected to begin in mid-September. Production losses are estimated between 400,000 and 450,000 tons. He added that the Kondensat oil refining plant in western Kazakhstan near the Russian border will process Russian crude and 70% of the refined products will be shipped back to Russia. He added that small volumes of Kazakh petroleum products have already been shipped to Russia. As Ukraine intensifies drone attacks against its refineries, Russia is experiencing fuel shortages. Reporting by Tamara Vaal. Felix Light wrote the article. Editing by Vladimir Soldatkin, Mark Potter and Mark Potter
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Gulf stock markets quiet as investors evaluate new US sanctions on Iran
Investors weighed up the new U.S. pressure on Iran and signs of progress in a mediated 'talks' with Tehran, mediated by Pakistan. Scott Bessent, the U.S. Treasury secretary, announced on Monday new measures but did not impose the most severe sanctions. He warned that countries who continue to trade with Iran risk being expelled from the?financial systems based on dollars. Pakistan and Iran have made "significant progress" during talks on the U.S. and Israeli war against Iran, and efforts to achieve peace. This was revealed by Pakistan's Interior Minister on Tuesday after a trip to Tehran. Saudi Arabia's benchmark index of stocks was not much changed as declines in energy, utilities, and healthcare stocks were offset by gains elsewhere. Saudi?Aramco, the oil giant, fell by 0.5% while National Shipping Company of Saudi Arabia (Bahri) lost 1.3%. Bahri announced on Monday that one of their vessels, the Amzan had been attacked in the Red Sea. Rasan Information Technology rose 4%. Dubai's main index fell 0.1% due to financial and consumer discretionary stocks. Dubai Islamic Bank dropped 1.2% while budget airline Air Arabia fell 0.9%. Abu Dhabi's benchmark index rose?0.1%. This was boosted by gains of 0.6% in Alpha Dhabi Holding, and 1.1% in?Space42. Qatar's benchmark index rose 0.3%. Most sectors traded higher. Doha Bank rose 3.3%, and Ooredoo, the telecommunications firm, gained 1.7%. Multiple trade sources reported on Monday that Iraq's state oil -marketer SOMO, and QatarEnergy are offering crude via rare?tenders which require buyers to load their cargoes in the Strait of Hormuz. (Reporting and editing by Subhranshu sahu in Bengaluru. Md. Manzer Hussain is based in Bengaluru.
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New York Times Business News - August 25,
These are the top stories on the New York Times business pages for August 25, 2018. These stories have not been?verified and we cannot vouch for their accuracy. The Supreme Court, which was divided on Monday, allowed the administration of U.S. president Donald Trump to proceed with its executive order that directed?the U.S. Postal Service will help determine which voters should receive mail-in votes before midterm elections. The Trump administration proposed a steep new fee on Monday for visas granted to foreign skilled workers. This is the latest attempt by the Trump administration to fundamentally revamp the H-1B Visa program. The Trump administration plans to also revoke visas for foreign nationals who have come to the United States "temporarily" for business or tourism but sought to stay longer in the country by applying for asylum. The U.S. Securities and Exchange Commission (SEC) recently issued subpoenas for banks to provide information on the trading of Situational Awareness, a hedge fund that is based on artificial intelligence. A private arbitrator ordered The Washington Post to hire back?opinion writer Karen Attiah. She was fired in September for her social media posts regarding the assassination conservative activist Charlie Kirk. (Compiled by Bengaluru Newsroom)
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German investigators discover third drone and explosives after failed airport assault, say media
German investigators have discovered a third drone and suspected explosives linked to the attempted attack on the Leipzig/Halle Airport this month, according to the NDR and WDR radio stations and the Sueddeutsche Zeitung. Media reports stated that the drone was discovered on August 14, 10 day after the incident. It was located?towards the west of airport where investigators also?found about 50 grams (1.8oz) of what they suspected as the military explosive hexogen. The office of the?prosecutor general?didn't immediately respond to an inquiry for comment. The reports cite security sources who suspect Russian intelligence involvement. This accusation has been denied by Moscow. A drone containing explosives was found on August 4?near an Antonov cargo plane used for?military?supplies. Investigators suspect that a second drone 'collided' with a DHL cargo plane shortly after the airport was temporarily closed. The airport is used by NATO and Ukraine's Antonov Airlines to supply military supplies. (Written by Friederike?Heine, edited by Clarence Fernandez).
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Lockerbie Bombing Trial postponed days before its start by US Judge
The trial of the man accused by authorities of building the bomb that allegedly blew Pan Am Flight 103 out the sky over Lockerbie in Scotland and killed 270 people in 1988 was postponed on Monday by a federal judge. The jury selection was'scheduled' to begin on Wednesday for the trial of Abu Agila Mohammad Mas'ud Kheir Al-Marimi. Prosecutors claim that the Libyan intelligence agent confessed his involvement in the 1988 bombing. U.S. district judge Dabney Friedrich said that the defense attorneys wanted to review new evidence. She said that "the newly-discovered evidence, as well evidence found in other countries", and "the need for the defense determine the best way to defend this case", led her to make the decision. Friedrich didn't schedule a new date for the trial but instead set up a hearing in court on September 1, to discuss next steps. Mas'ud has now reached his mid-70s and has pleaded no contest to two criminal charges relating to the destruction of an aircraft that resulted in death. If convicted, he could face a maximum sentence of life imprisonment. The Boeing 747 that exploded in London minutes after takeoff on December 21, 1998 killed all 259 passengers, including 190 Americans and 11 people on ground in Scotland. The bombing turned former Libyan leader Muammar Gadafi - whose government had accepted responsibility for 2003's attack - into an international pariah. Mas'ud denies wrongdoing, and his lawyers question the credibility of evidence collected by prosecutors. This includes Mas'ud's supposed confession to a Libyan Police?Officer in 2012, one year after rebel forces overthrew Gaddafi's regime. The trial of Mas'ud in a 'Washington, D.C. Federal 'court has been delayed for years by legal wrangling about the alleged confession, and other issues, which have revealed the complexities of a U.S. prosecution of a decades-old British attack with key evidence gathered in Libya. Mas'ud was arrested in Libya in 2022 and brought to the U.S. He is accused of constructing a "time-delayed" bomb which was placed into a suitcase and checked luggage in Malta. The suitcase containing explosives eventually found its way to London Heathrow Airport where it was placed in the hold of Pan Am Flight 103.
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US Supreme Court gives Trump a victory over restrictions on mail-in voting
The?U.S. The?U.S. Supreme Court lifted on Monday a judicial ruling that had prevented President Donald Trump from implementing an executive order restricting the use of mail-in votes ahead of the November midterm elections, which will determine control of Congress. However, another judicial ruling remains. The Justice Department received an emergency request from the Justice Department to suspend an injunction issued by U.S. judge Indira Talwani in Boston in June, which prevented the Republican President from implementing his directive against a coalition consisting of 23 states, mostly governed by Democrats, and Washington, D.C., who had sued in order to stop him. The court is conservatively majority with a 6 to 3 margin. Three liberal justices were dissidents from the ruling. As the midterm elections approach, the Supreme Court's decision leaves the door open for states to sue again in the future. However, the court didn't act on a second injunction that Talwani issued on August 11, which blocked the U.S. Postal Service across the country is not enforcing stricter voting rules in accordance with the directive. The judge made this order as part of a separate lawsuit brought by voting rights groups. The Justice Department had asked the Supreme Court to clarify that it applied its decision to both of Talwani's?injunctions. However, the justices didn't do this on Monday. Both lawsuits challenged Trump's executive order as being unconstitutional. TRUMP'S MARK EXECUTIVE ORDDER Trump's March executive order directed the Department of Homeland Security?to compile and transmit to each state a list of U.S. Citizens eligible to vote, while the Justice Department prioritized investigating and prosecuting local and state election officials who issued ballots to people deemed "not qualified" to vote at federal elections. The order also mandated that the U.S. Postal Service will only deliver ballots to those voters who are on the approved list of mail-in votes for each state. Postal Service has recently implemented Trump's directive. Trump has promised to stop the use of mail in ballots before the midterm elections. He has also cast doubts on their security, even though evidence of voter fraud has been rare. Republicans want to keep control of Congress during the fiercely contested midterm elections. Republicans would benefit disproportionately from limiting mail-in votes, as Democratic voters are more likely to use them than Republican voters. JUDGE RULED TRUMP lacked authority Talwani ruled in June that the President lacked authority to order any changes in the way states administer federal election, noting that states are responsible for determining 'voter eligibility requirements' under the U.S. Constitution. The judge noted that federal agencies are unable to compile accurate lists of citizens for each state. The Justice Department had said that the lawsuit against Trump's directive was premature, and the states lacked the legal standing to sue at this point. The administration stated that the agencies haven't taken any concrete steps to impact the states, and any harm they claim is speculation. The states claim that their claims are real and that the "rushed effort to change the rules for mail voting just before the midterm elections in November risks disenfranchising substantial numbers of voters." The judge rejected administration arguments. He found that the lawsuit was not filed too "soon" and that states had a legal right to file the suit because they would be subjected to disruption of election administration, compliance costs, and the credible threat of criminal prosecution. Trump's executive orders is part of a larger effort to fundamentally change the U.S. election system. Trump, who has made false claims of widespread fraud in U.S. elections including his 2020 loss to Democrat Joe Biden, has pressed the Republican-controlled Congress to pass a contentious package of voting restrictions called the SAVE America Act. (Reporting from Andrew Chung, New York; Editing done by Will Dunham and Matthew Lewis.)
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WestJet cabin staff approves proposed deal following strike
WestJet's?flight attendants voted on Monday to accept a tentative deal that would?increase wages?"by a?more than 18%?over the next three years?, according to their union. This follows a strike earlier in the month that resulted in hundreds of cancellations. Flight attendants at the airline 'also received duty pay premiums as part of an 'overall shift in North America where cabin crews are challenging compensation structures based primarily on flying time, rather than each?hour worked. The Canadian Union of Public Employees (CUPE), which represents 4,400 WestJet Flight Attendants, sought compensation for the period from when members report to work until their clock-out. The 'tentative agreement' would offer a premium to compensate for time that was previously unpaid. Air Canada, Alaska Air, Delta Air Lines, United Airlines, and American Airlines have all introduced a pay-for-boarding system or specified ground time. This has increased the pressure on other carriers to recognize more of what attendants do on duty. On August 3, the?union announced that it had tentatively reached a?deal with Canada’s second largest?carrier which is owned by Onex Corp.
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Sources say that the derailment of Rusal in Guinea has stopped alumina exports.
Three sources said that a train owned by Russian aluminium producer?Rusal, derailed over the weekend in Guinea's Dubreka Prefecture, halting exports of alumina and slowing production. Two company officials reported that the train carrying alumina fell off the track near Kagbelen, on Saturday evening. The incident injured four people and forced the suspension of rail traffic. Senior Friguia refinery officials said that alumina production continued at a slower pace after the accident but they could not quantify its impact. Exports are at a standstill. "A team has been dispatched on the site to assess and repair the situation," said the official. They asked to remain anonymous because they were not authorized to speak on the subject publicly. Rusal didn't immediately respond to requests for comment. Guinean authorities have not yet released an official statement on the cause of the derailment. RUSAL FACE EXPORT DISRUPTIONS Guinea, the world's leading exporter of the bauxite ore that is used to produce aluminium, faces disruptions in its exports. Rusal runs the only alumina refining plant in the country, with a capacity of 600,000.00 metric tons annually. It supplies?alumina for the Russian aluminium smelters. The derailment of the Rusal ship in Guinea is a further challenge to Rusal's exports since the Iran War disrupted shipping lanes. According to a fourth source, the incident has disrupted the supply of key production inputs such as fuel and caustic soda, which are transported by rail between the port refinery. Rusal's second executive and a mining expert?said that the company had already cut alumina production before the derailment due to?fuel supply issues. Guinea's mining industry relies on a number of privately-operated rail corridors that connect bauxite, iron ore and alumina refineries with export terminals. The derailment, according to a senior official in the transport ministry, highlighted a 'chronic'?shortcoming of railway maintenance. According to the refinery's official, Friguia reopened in 2018 after closing in 2012. Since then, it has produced around 450,000 tons alumina per year. (Reporting and editing by Matthew Lewis; Maxwell Akalaare Adombila, Guinea newsroom)
Merz: Germany will soon reveal who is behind the attempted drone attack at an airport
Friedrich Merz, the German Chancellor, said that the German government will soon reveal who is responsible for an attempted drone attack on Leipzig/Halle Airport earlier this month.
Merz, speaking at a summit of the coalition, said that his government "works closely with security authorities to this end, and will soon set out this issue?and make a comment about it."
Local?media cite security sources that suspect Russian intelligence of involvement in the attempted attack. Berlin, however, has not made direct accusations.
A drone with explosives was discovered on August 4 near an Antonov cargo plane used for military supplies. Investigators suspect a second drone 'collided with DHL cargo aircraft soon after the temporary closure of the airport.
The airport is used as a military and cargo logistics hub by Ukraine's Antonov Airlines and NATO for?military supply.
German investigators found a third drone, and suspected explosives connected to the attempted assault ten days after the incident.
Media reports said that the drone was discovered to the west of an airport. Investigators found about 50 grams of what they believed to be the explosive military hexogen.
The office of the?prosecutor general refused to comment on the report. Moscow has denied involvement in the incident. (Written by Friederike Hine; edited by Clarence Fernandez, Miranda Murray and Miranda Murray).
(source: Reuters)