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Iraq tries to increase exports through Turkey by transporting crude oil from the south of Iraq north.
The trial began on September 13 and lasted two days In 209 trucks, 38,000 barrels of oil were transported. Iran War disrupts Iraqi exports to the south By Aref Mohamed and Ahmed Rasheed BASRA (Iraq), Sept. 16: Iraq has launched a pilot project to transport crude oil from its southern oilfields by road to a Kirkuk oil storage facility. The goal is to increase supplies for the northern export system, and possibly to increase shipments via Turkey's Ceyhan Port. The initiative is part of Iraqi efforts to increase exports through the northern route, after the U.S. and Israeli war against Iran disrupted Iraqi shipments via the Strait of Hormuz. A spokesperson for the oil ministry confirmed that Iraq's Oil Ministry has contracted local company,?KAR Group, to transport crude oil using its fleet tanker trucks. A statement from the state-run Basra Oil Company confirmed that the arrangement had been made. BOC reported that the trial operation began on September 13 and lasted for two days. During this time, a little over 6 million litres crude oil, which is equivalent to 38,000 barrels was transported by 209 tanker truck each with a capacity of 30,000-litres. Saleem al-Rikabi said that the contract with KAR Group was based on the total volume delivered by tanker truck. He added that daily volumes transported depended on a number of factors, including road conditions, security clearances, and loading capacity. KAR Group didn't?respond instantly?to an inquiry for comment. Oil ministry figures indicate that current flows from northern Iraq into Turkey's Ceyhan Port are estimated to be around 200,000 barrels per day (bpd). This is down from 250,000 bpd prior to the Iran War. BOC sources say that the project faces logistical difficulties, including limited truck supply and limited loading infrastructure at southern oilfields. Initial volumes are too small to materially increase exports from the north without an expansion in transport and loading capacities.
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US Farm Agency prepares to reopen New Mexico Port to Livestock Trade next week
U.S. Agriculture Secretary Brooke Rollins announced on Wednesday that the Department of Agriculture is preparing to reopen an New Mexico port for livestock trade after it had been closed due to New World screwworm. Rollins stated during her remarks at the National Association of State Departments of Agriculture conference in Portland, Maine that she intends to travel to New Mexico Wednesday night. Rollins stated, "We are getting ready to reopen that New Mexico port in the next week." After months of port closures because of concerns about the screwworm parasite, the USDA resumed the cross-border trade of livestock with Mexico in late August. According to the agency there are currently two active screwworm infections, both in Texas, one in a horse, and another in a canine. Rollins stated, "What you have all 'proven for the past?20 days in Douglas, is that this situation is manageable and doable. And if we think there is another threat we will shut it down."
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Sources say that two pumping stations on the Saudi East-West Pipeline were damaged by a recent attack.
According to three oil and security sources, two pumping stations that serve the vital 'East-West Pipeline' in Saudi Arabia have been damaged by an attack last week. Saudi Aramco did not reply to a comment request. The company operates the 1,200 km (745 mile) pipeline that runs across the Arabian Peninsula. Saudi Arabia's media office did not respond immediately to a comment request. Saudi officials said that the?pipeline which had helped to relieve the blockage in the Strait of Hormuz was temporarily shut down after an?attack by a drone coming from Iraq. Sources claim that the strike has damaged pumping stations 8 and 9. According to industry estimates, the pipeline is serviced with 11 pumping and two pressure relief stations. Since?six months, the facility has been the main way to export Middle East oil globally. The Strait of Hormuz is largely closed due to war. Saudi Arabia has been able to avoid the disruptions that have crippled the other Gulf oil and natural gas exporters.
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Muto scores as Kobe win the Asian Champions League with a win
Vissel Kobe won 2-1 over Port FC on Wednesday thanks to a deftly executed goal by?Yoshinori muto. The Japanese team?made a perfect start in the league phase of?Asian Champion League Elite?in Thailand. Ren Komatsu, a former 'Japan - international', had given Michael Skibbe and his team the lead at the 10th minute. Issei Tahashi flicked Diego's throw-in into the Port penalty area and Komatsu pounced. In the fourth minute of stoppage time in the first half, he was able to redirect Issam al-Sabhi’s header past his own goal-line. Muto scored the winning goal after being played?on-goal by fellow substitute Yuya Osako. He then lifted a calm finish above Port goalkeeper Michael Falksgaard, as last season's semifinalists picked up all three of their points. Former champions Jeonbuk Motors came back from a goal behind to beat Kashiwa 2-1 in Jeonju. Kenshin Yuba scored an individual goal in the 30th-minute to put Japan ahead. However, Tiago Orobo equalized the score three minutes into second half by scoring a header. Italo scored the winning goal for Jeonbuk at the 69th-minute mark. The Brazilian slid his shot in the bottom right corner of Ryosuke's Kojima. The eight top teams in east and west Asia, who finished first or second respectively in the league phase of the competition (which has increased from 24 to 32 teams) will move on to the knockout round. The 'last 16 matches' will be played on a 'home-and-away basis' in March, while the quarter-finals (quarter-finals), semi-finals (semi-finals) and final in Saudi Arabia will be held centrally in April and may.
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Meloni, the Italian leader in the election campaign, has scrapped road tax on most cars.
Giorgia meloni, the Italian Prime Minister, announced on Wednesday that Italy will 'abolish road tax' for 14,5 million cars and motorbikes. This move is estimated to cost more than EUR2billion ($2.31billion) in state funds. The government is looking for ways to increase support in advance of the national elections next year. Meloni’s?conservative alliance is trailing in the polls the centre-left and is under pressure from National Future - a new far-right political party led by Roberto Vannacci that is steadily gaining supporters. Meloni stated in a press release released by her office that "today the government eliminates one of the taxes most disliked by Italians". The benefit is available for 'all motorbikes' and'more than 70% of small and medium-sized vehicles, according to the Cabinet Office. However, each citizen will only be able to use it once. The draft decree that was seen by us before the cabinet meeting indicated that the exemption would only be for one year, between January 1, 2027 and December 31, 2027. It will cost EUR 2,36 billion. Meloni did not reveal where the money would come from to fund the initiative. Italy's public debt is expected to reach 139% of its gross domestic product (GDP) in this year under its latest budget plan. This will replace Greece as the most indebted nation in the Eurozone. The coalition parties welcomed this measure as part the government's agenda to cut taxes, while critics dismissed it for a ploy to divert the attention away from the soaring fuel prices. Rossano Sasso is a senior assistant to Vannacci. Fuel prices have risen in Italy for several months due to the U.S. War against Iran, which has disrupted supplies around the globe. The government had to spend EUR2.8 to date to reduce excise duties.
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Italy eliminates road tax on most cars in the run-up to elections
Giorgia meloni, the Italian prime minister, announced on Wednesday that the government would abolish road tax for 14.5 million cars and motorbikes. The government is looking for ways to increase support in advance of the national elections next year. Meloni stated in a press release issued by her office that "today the government will eliminate one of 'the taxes most disliked by Italians. The benefit will apply to all motorbikes, and to more than 70% small-sized cars. However, citizens are only allowed to use it on one vehicle. The election next year is shaping up to be a close race between Meloni’s rightist coalition and centre-left opposition. The government has not said how much the abolition?of road tax will cost?public finances. Italy's public debt is expected to reach 139% of its gross domestic product this year under its latest budget plan. This will replace Greece as the most indebted nation in the Eurozone.
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Flydubai CEO: We expect to return to full capacity before the end of this year.
Flydubai, the airline of Dubai, expects to return to full capacity before the end of the year. This is as airlines 'across the region' recover from the impact of the Iran War. Ghaith al Ghaith, CEO of Arabian Travel Market, said to the media that by the end of the year, "we will go back to 100 percent, and maybe even more, because we'll be getting more planes." Ghaith said that Flydubai, Emirates sister airline, operates at 85% of its current network capacity. Its load factor (which measures how well a?airline fills available seats) is "good". Flights in the Middle East, and even beyond, were disrupted for weeks by the Iran War, which began at the end February. However, Gulf carriers - some of the largest in the world - have slowly resumed their activities. The EU Aviation Safety Agency issued an advisory this year to avoid the Gulf Airspace due to potential 'risks associated with the war. He added, "Our biggest problem, particularly in Europe, are all the (travel) advisory messages that continue to be issued." The CEO's comments come after the airline announced on Tuesday that it would take a further 11 aircraft this year. This includes seven?Boeing 737-9 MAXs and four Boeing 737-8 MAXs, bringing its fleet to over 100 aircraft.
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Equinor plans LNG growth in early 2030s for European and Asian demands
Senior executives at Equinor said that they hoped to increase their liquefied gas supply portfolio between 10 and 15 million metric tons (tpy) per year in the early part of the next decade to meet demand from Europe and Asia. Ingvar Egeland is Equinor's Vice President for LNG. He said that the Norwegian producer will announce a second LNG deal with an Asian client this week. In May, Equinor signed a 15-year LNG deal with India’s Deepak Fertilizers &?Petrochemicals Corp. Egeland stated that Equinor has been in contact with many counterparts, particularly in India and other places in Southeast Asia. They are interested in finding new sources. The U.S. and Israeli war against Iran has?prevented Qatar, the United Arab Emirates, from exporting the majority of their LNG via the Strait of?Hormuz. A fifth of global LNG supplies used to pass through this Strait, forcing Asian buyers into seeking other sources. Equinor expects to double its portfolio of supplies to 7 million tonnes per year in 2030, when U.S. supplies reach full capacity. The Norwegian LNG plant Hammerfest is responsible for half of the total supply. Egeland stated that Equinor intends to increase its supply to between 10 and 15 million tonnes per year (tpy) by the early 2030s. This will include cargoes with a Brent price to diversify their exposure to prices. He added that the volume does not include Tanzania where Equinor has a project in progress which is being 'delayed' by government negotiations. Tanzania's deputy minister of energy said this week that a new law on LNG investments could be passed by the end the year. Egeland said that the East Coast of the U.S.A., West Coast of Canada, South America and other African countries, besides Tanzania, could be potential new sources of supply.
China's dominance of trade in South America tempers Trump’s influence
Javier Milei, the libertarian president of Aragón in 2023, branded China a "communist assassin", and threatened to weaken relations with Asia. Exports of soy, lithium and other commodities to China grew 15% during his first year in office. The U-turn of a U.S. natural ally highlights a challenge to President Donald Trump, especially in South America's resource-rich region where China has gained influence in recent years due to booming trade.
Trump wants to disrupt global trade by using trade tariffs and threats to get partners to promote U.S. interest. He has already made concessions to Colombia, Panama, and Mexico. Meanwhile, Brazil faces new steel tariffs. The proposed 25% tariffs for Mexican and Canadian products are set to go into effect on Tuesday. An additional 10% duty will be added on Chinese goods. Around South America, a half dozen officials, trade experts and diplomats said that China's growing and huge trade lead diminished the impact of Trumps' measures. This is a warning of the possible limits of a punitive strategy in a world with a growing number economic rivals. Senior Brazilian diplomats close to Luiz Inacio "Lula" da Silva, the leftist president of Brazil, said that Brazil's economy is not dependent on the United States. They cited the $30 billion surplus the country had with China in the past year as being far more important economically.
He said Trump’s trade tariff threats – coming after years "neglect" by the United States – would push countries to seek out less risky options like China, Europe, or the BRICS including Brazil, Russia India, China, and South Africa.
Beijing was a "pragmatic partner" and the Chinese were "here to do business".
South America's exports have doubled to China in the last decade thanks to commodities giants Brazil Chile Peru and Argentina. Meanwhile, the United States has only seen a slight increase in shipments.
Beijing's soft-power in the region has been strengthened by China's large market, which is invaluable to regional leaders who are struggling with slow growth and high debt.
'BULLYING IN THE NEIGHBORHOOD"
In comments made late in January, U.S. Secretary Marco Rubio dismissed as "absurd" the possibility of pushing South American nations like Colombia towards China. He cited the quick victories the administration had achieved. Mexico was forced to negotiate on trade and commit troops to strengthen the border after tariff threats. Meanwhile, a promise to forcefully take over the Panama Canal trade route led that country to leave China's Belt and Road Infrastructure Plan. Colombia and the United States reached a deal following a ban on deportation flight that brought the two countries to the brink a trade conflict.
Ryan Berg, director of the bipartisan Washington think tank Center for Strategic and International Studies said that Trump actually gave Latin America more attention. Rubio, who speaks Spanish, was there for his first overseas visit. A balance was needed between neglect and threats.
The U.S. State Department didn't immediately respond to an inquiry for comment.
Raja Krishnamoorthi (Democratic ranking member of House select committee on China) told Washington to avoid becoming "the bully" in the neighborhood.
You know what happens when bullies are exposed. "People stand up to bullies," said he. "They do it in ways that can be detrimental to our national security long-term interests."
BOOMING EXPORTS OF COMMODITIES
China has increased its trade lead in South America. This is largely due to the fact that it now exports more grains, and also copper and lithium, two key metals for electrification. Washington still leads Central America but the lead has shrunk. Ten years ago, the United States was Peru's biggest trading partner. China is now the largest trading partner. China has absorbed Peru's copper supply and built a huge port on its coast to boost bilateral trade.
Jose Arista, former Peruvian economy minister, said that the impact on Peru would be minimal. He cited Peru’s free-trade agreement with the United States, and the composition of Andean countries' exports.
China is the top market for Argentine beef and soybeans, even though Milei, a libertarian who is an ardent ally of the United States is also a stronghold in Argentina. China is the largest market for Argentine beef and soybeans, while buying almost a third the country's exports of lithium last year.
An adviser to Milei told a reporter late last year the South American nation had no problems working with China as long as it was in Argentina’s best interest.
Colombia has much closer economic ties to the United States, but diplomatic relations with China were elevated at the end 2023 to "strategic partnerships". Panama's exports to China soared far higher than those to the United States from 2021-2023, before a major copper mine was closed, which led to a steep drop last year. The tensions with the United States are still simmering over the canal.
"A Gift to the Chinese"
China is a natural trade partner for South America despite historical proximity and cultural overlaps between the United States, and its southern neighbors.
China is at a stage of development that makes it more dependent on South America's commodities.
In a rare rebuke to Washington's policy in the region, the Chinese Foreign Ministry issued a press release criticizing the United States of sowing "discords" between China, Latin American countries, and the United States. The statement also pointed out an "irreversible trend" in a deeper cooperation between Latin America and China.
Li Xing is a professor of the Guangdong Institute for International Strategies. He said that Trump's aggressive approach would be beneficial to China, as it would force other countries to hedge their bets.
He said that chaos among the (U.S. allies) is good for China.
(source: Reuters)