Transportation

Abigail Spanberger, the Governor of Virginia, said that as a result of increasing political backlash against'server warehouses and technology developed in them, Virginia is tightening its environmental, commercial, and permitting controls. Virginia, the state with the highest concentration of data centres in the world, has unveiled plans that include a ban on non-disclosure contracts and clean energy mandates for the projects. This move is in line with a series of similar measures taken by the governors of New York, Texas, and Pennsylvania recently to curb the rapid expansion of data centres, which are increasingly being built?to train artificial intelligence and...

Oil prices dropped about 1% on Friday, continuing their losses from the previous session. However, they remained above $100, as optimism about alternative?ways to get barrels of oil from the Middle East?to?markets trumped concerns over Saudi Arabia's strikes against Yemen's Houthis. Brent crude futures dropped $1.01 or 1% to $103.77 per barrel at 0020 GMT. US West Texas Intermediate Futures also fell $1.03 or 1% to $100.88 per barrel. Both benchmarks closed Thursday with a loss of about 1%. The markets largely ignored concerns over new supply threats, even though Saudi Arabia and Yemen’s Houthis, backed by Iran, exchanged new...

PJM Interconnection, the US electric grid operator, called on 'large energy consumers' in 13?states?to reduce their consumption?on a Thursday as high temperatures fueled power demand and threatened blackouts. PJM is the largest regional grid operator in the US, covering the Mid-Atlantic region and the Midwest. The system reported that it had experienced power outages of about 36,000 megawatts, reducing the supply of electricity. PJM's "demand -response program" pays customers who temporarily reduce power or?cut it when asked to, in order to deal with rolling blackouts. As transmission and power plant operators enter maintenance season, the demand for cooling systems from...

U.S. Transportation Sec. Sean Duffy'said Wednesday that the Trump administration will temporarily'relax rules on hours-of-service by truck drivers who handle?gasoline or diesel. He cited a?concern about?supply? and?cost?. The 90-day waiver comes into effect on Wednesday. It allows drivers to work up to 16 consecutive hours in a 24-hour period, as opposed to 14 under the existing rules. Duffy explained that the waiver was granted because disruptions in the short-term supply chains could cause delays in gasoline and diesel shipments. This could impact freight deliveries. According to the Energy Information Administration (EIA), the US average diesel price has reached a record...

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...

A 'farm lobby group' and a'major farmers union" said that Ukraine was examining the possibility of adding additional insurance coverage to ships transporting food exports in order to help revive seaborne trade, which has been disrupted due to Russian attacks against vessels and port infrastructure. Since the summer of 2016, Russia has intensified its attacks on Ukrainian ports and commercial vessels. This has effectively stopped the seaborne exports from the country. Ukraine used to ship 90% of its cargo via Black Sea ports. The disruption has already reduced agricultural exports by 60 percent, putting the planting campaign in 2027 and...

Enbridge, a Canadian energy company, announced?that on Tuesday it began a non-binding public season for its proposed West Texas Express gas pipeline. The pipeline would transport gas from the Waha region of the Permian Shale in the west to markets around El Paso. The Permian, located in West Texas and eastern New Mexico, is the largest oil-producing shale region in the United States. The Permian basin, located in West Texas, eastern New Mexico and Pennsylvania, is the second largest gas-producing shale region in the United States. The U.S. Energy Information Administration says that as oil and gas are produced more,...

Trade sources report that Saudi Arabia has cut off oil shipments from Europe to the Red Sea after drone attacks damaged its main export pipeline. This prompted top customers, such as Poland, to look for alternatives when cargo prices reached $120 per barrel. Saudi Arabia blamed the attacks on Iraqi militias, forcing the kingdom to shut down its East-West Desert Oil Pipeline on Friday. This has saved it from the worst of impact of the Strait of Hormuz closure over the past six months. On Tuesday, oil trading and shipping sources reported that Saudi Arabia informed European customers of the...

The Federal Aviation Administration's head said that the first phase of a plan to "modernize air traffic control" will cost "billions of dollar more than Congress approved." The Congress approved $12.5 billion in funding for air traffic control, which included $9 billion to modernize air traffic and $3.5 billion to build new facilities. Bedford told a U.S. House of Representatives subcommittee that phase one would cost $16 billion. He said that the FAA was funding the 'gap' out of their facilities and equipment budget. Bedford, FAA's director of project management, urged lawmakers for approval. The FAA is asking for at...

According to a government report released on Sunday, the Federal 'Aviation Administration' needs additional funding from Congress in order to complete phase one of a $10.6-billion air traffic control plan. They also underestimated the total cost of operating the new system. The Government Accountability Office stated that the FAA did not have a full assessment of the costs associated with operating the new system, nor had it set out a schedule to complete the reforms. The GAO report stated that "the FAA buys delivery speed by risking cost uncertainty and disruptions." It added, "these risks increase FAA's likelihood of repeating...

A government report said Monday that the Federal 'Aviation Administration' needs more funding from Congress to complete the first phase of its $10.6 billion air traffic control reform plan. They also underestimated the costs associated with operating the system. The Government Accountability Office (GAO)?said that the FAA hadn't fully assessed the?costs of operating the system? or?set up a detailed timeline for completing reforms? The GAO report stated that "these risks increase FAA's likelihood of repeating the history of cost overruns and delays." Congress approved $9 billion in the first phase of ATC reforms, which is expected to cost $10 billion....

U.S. Wheat Futures climbed on Monday, as fears of further disruptions to Russian and Ukrainian exports were sparked by the Black Sea attacks. Corn fell and soybeans were a little?firmer as a stronger dollar made U.S. exports more expensive. Chicago Board of Trade's most-active wheat increased 0.5% at 1134 GMT to $7.29-1/4 a bushel. Soybeans increased 0.08%, to $12.97-12 a bushel. Corn fell 0.09%, to $5.29-3/4 bushel. After attacks on ports and ships, Black Sea exports between Russia and Ukraine are almost at a standstill. Matt Ammermann, StoneX commodity risk manager, said: "Wheat is being strengthened by concerns about the...

Massoud Suleman, the chair of?National Oil Corporation?, said on Monday that?the?production at Libya's Sharara oilfield had been?partially reduced?. He did not give a reason. Two engineers on the field said that production has dropped by 200,000 barrels per days and is now between 100,000 and 105,000 barrels per day. Sharara is one of Libya's biggest?oilfields. It has a capacity to produce?around 300,000 barrels per day. In recent years, it has been subjected to frequent disruptions due protests, disputes, and technical problems. Since the 2011 uprising which toppled Muammar Gadhafi, Libyan oil production has been shut down for both political and...

Bloomberg News reported that Saudi?Aramco informed at least two European refinery?customers on Friday that they would not receive any crude?oil in the next?month due to an attack on Saudi Arabia’s main pipeline into the Red Sea. The report stated that European refiners usually buy Saudi crude under term contracts that guarantee monthly deliveries, but Aramco informed its customers that the next month's delivery will not take place. Saudi Arabia informed European customers earlier that some crude cargoes will be cancelled due to a 'drone attack' which shut down its East-West pipeline, damaged three pumping station and disrupted oil loading at...

Multiple trade sources reported on Friday that Saudi Arabia sold approximately?60,000,000 barrels of crude oil from its Gulf Port of Ras Tanura?inside of the Strait of?Hormuz to be loaded via ship-to -ship transfer in?the?Omani ports of Sohar during this month and next. Saudi Aramco, the state-owned oil company, is resuming its exports to the Gulf, which are now between 1 million and 1.5 million barrels of oil per day, on average. This figure is similar or slightly higher to August's level. It has helped to cool global?oil? prices, as it compensates for the volume lost in Yanbu at the Red...

Preliminary ship tracking data on Thursday showed that the number of commodity?vessels transiting the Strait of?Hormuz dropped to three vessels?on Wednesday. This is down from?12 a?day?earlier. It's also well below the 10-day?average of 17 ships. These figures do not include any vessels who may have passed the waterway without their Automatic Identification System (AIS) transponders on to avoid detection. The data showed that at 0445 GMT, a Supramax dry-bulk?ship and a petroleum product tanker both entered the strait through the Iranian route. The data indicated that a Panamax tanker left the waterway via a dark route. The war in the...

Saudi Arabia offers more loadings of "crude oil" to Asian refiners through ship-to-ship transfers off Oman's Sohar port, after drone attacks damaged the key oil pipeline into the Red Sea. Sources say that Saudi Aramco, the state oil company, has offered its Arab Light grade as well as Arab Medium, Arab Heavy and other grades to buyers of term contracts in Asia, for loading at Sohar (outside the Strait of Hormuz). These offers suggest that Aramco is moving crude oil out of the Gulf to be transported outside of?the waterway. Aramco made two similar offers to Asian buyers in recent...

Saudi Arabia's air defences destroyed an Houthi drone in Yemen before it could enter the forbidden airspace above the holy city. The drone intercepted Tuesday evening was the second Houthi attack on Mecca following a ballistic rocket launch in July 2017. Turki al Malki, the spokesperson for the Houthi, said this in a press release. This follows a series of attacks by Houthi fighters aligned with Iran that has drawn Saudi Arabia further into the conflict. Mecca, home to the holiest places in Islam, is the focal point of the annual hajj. Its security is a "redline", said coalition spokesperson...

The National Oil Corporation announced on Tuesday that operations were suspended in two oilfields, as well as a pumping station, after members of the security force charged with protecting Libya's oil industry closed a valve at the main Hamada to Zawiya crude loading pipeline. NOC stated that it could declare force majeure in the event of a valve remaining closed, or if similar forced shutdowns are imposed on other fields. The company reported that production at the Hamada?and Tahara?fields and at a?pumping station had been completely halted. Since the 2011 uprising, Libyan oil production has been closed repeatedly for both...

Industry sources reported on Monday that Asian refiners were preparing for a tighter supply of sour oil as they awaited Saudi Arabia's guidance on exports via Red Sea following the attacks on the East-West Pipeline. Saudi Arabia closed a pipeline on Friday after it was attacked. The shutdown helped?push up the oil prices by 3% Monday. Sources at Asian refineries say that Saudi Arabia hasn't said how long it may take to repair the pipeline and Saudi Aramco is not providing updates on shipment schedules or supply allocations. Sources said that they were notified of a delay in loading, but...

Preliminary shiptracking data revealed on Monday that the number of commodity vessels transiting the Strait of Hormuz fell to just one digit per day at the weekend. This is well below the 10-day average of 14. Four vessels left the Gulf via the Strait over the weekend, including a Handysize vessel in ballast, an LPG-carrying Handy vessel, a Supramax vessel with fertilizer, and a Suezmax vessel loaded with crude oil or condensate. The data revealed that ten vessels entered the Gulf. These included a Handymax transporting grain, a Panamax transporting metals, and a Supramax transporting dry bulk cargo. The figures...

On 'Sunday, U.S. president Donald Trump said that he would consider the request of relatives of those who died in the 9/11 attacks for more information about the attack and whether the perpetrators were linked to Saudi Arabia. He told reporters before boarding the plane to return to the U.S. that he would "look at it" when he returned. Families of 9/11 victims have been calling for the declassification of other?records relating to?the events. New York legislators from both parties have asked the Trump administration to release some phone records. This is one of our best chances to get this...

Industry sources told the APPEC industry meeting on Thursday that the market has been able to work around the earlier'supply shocks'. In a panel at the conference, Rishi Nyati said, "We do not see any problems with sourcing bunkers today and putting them on board." Nyati said that there is currently no shortage of marine fuel or bunkers in the major shipping hubs, as opposed to March and April. However, he added that refuelling prices have risen. According to data from the market, as of this week outright prices for mainstay VLSFO fuel oil, in Singapore, which is the world's...

Aliko Dangote, a billionaire, has set his sights on replicating the project that launched Africa's largest oil refinery, in Nigeria, less than three years ago. But the construction of his company's planned new 700,000-barrel-per-day Lamu refinery in Kenya promises to bring a whole new set ?of issues -- not least where to secure crude supply in ?a country that, unlike oil-rich Nigeria, currently has no commercial output. Plans are changing rapidly. Discussions about Dangote's East African Refinery centered on Tanzania until April. Dangote said to the Financial Times that he would prefer the refinery be located in Mombasa in Kenya....