Transportation

Middle Eastern and Asian investors have shown early interest in a new crude oil pipeline project in Canada. They could become minor owners of the project, said Alberta Premier Danielle Smith on Monday. Alberta, Canada's main oil-producing province, has been exploring the feasibility of a new one-million-barrel-per-day crude oil pipeline to British Columbia's northwest coast to increase exports to Asia, but no private-sector company has committed to building a new pipeline yet. Canadian oil companies are hoping to increase sales in Asia over the next few years in order to diversify their business away from the United States. The United...

TC Energy CEO Francois Poirier said that the disruption?to global liquefied gas?supplies caused?by the?Iran 'war?will make it more likely for a second phase of Canada's massive LNG Canada to be built. He made this prediction in Houston, Texas on Monday. While only a few weeks ago market watchers were predicting a glut of LNG worldwide, the 'Iran war' has highlighted the importance of LNG which can be delivered directly to Asia without having to transit the Strait of Hormuz. TC Energy CEO Francois Poirier stated. TC's Coastal GasLink pipe supplies natural?gas for the Shell-led LNG Canada plant located near Kitimat...

Futures tied to Canada's resource heavy stock index fell Monday, as threats to energy infrastructure in Gulf drove oil prices sharply higher. Gold and silver also declined. As of 6:23 a.m., June futures for the?S&P/TSX Composite Index were down?1%? ET (1023 GMT). Oil prices rose on Monday after Iran's Revolutionary Guards announced that they would strike power plants in Israel as well as sites supporting U.S. bases located in the Gulf to retaliate against any attack on their electricity network. U.S. crude oil rose by 3% to?pass $100 per barrel as the markets prepared for further disruptions in energy supply...

Cuban officials announced that the country had restored electricity to almost half of Havana's capital by Sunday afternoon. This was less than 24 hours after the grid collapsed for the second consecutive week due to a U.S. The?oil embargo has caused a serious blow to Cuba's energy infrastructure. Grid operator UNE reported that the grid went down Saturday night at 6:32 p.m. (2223 GMT) when a major power station in Nuevitas in eastern Cuba's Camaguey Province, went offline. This caused a cascade of events which knocked out electricity to approximately 10 million Cubans. UNE reported that by Sunday afternoon, nearly...

Cuba announced that it had begun early Sunday efforts to restore power to its grid after it collapsed for the?second time in a week amid a U.S. Oil Blockade which?has? dealt a major blow?to the island's ailing energy infrastructure. Grid operator UNE reported that the grid collapsed at 6:32 p.m. on Saturday night (2232 GMT), after a large power plant in Nuevitas in eastern Cuba's Camaguey Province failed and went offline. This caused a cascade of events which knocked out electricity to approximately 10 million Cubans. Cuba's Energy and Mines Ministry announced early Sunday that it had installed microsystems, smaller...

Officials announced that Cuba's national electrical grid collapsed for the second time in one week on Saturday amid the U.S. oil blockade. The communist government is struggling to keep the lights on for the 10 million Cubans with its decrepit infrastructure. At 18:32 (2223 GMT), the National Electric Power System was completely disconnected. Union Electrica, the state utility, said in a statement on social media that it would continue to update. This is the third major power outage in the month of March. On?4th, a thermoelectric plant that was a large part of the system failed and the entire system...

Elon Musk, the richest man in the world, announced 'on Saturday that he will cover the salaries of US workers. Transportation Security Administration (TSA) officers are on their second unpaid stoppage in six months, due to a long-term federal funding lapse. It is now the fifth week of the budget impasse regarding funding for TSA's parent, Department of Homeland Security. TSA screeners and other TSA staff are just days away from not receiving a second paycheck. However, they are under pressure to show up because screening times in some airports can take hours. Musk said in a social media post...

Donald Trump, the U.S. president, threatened to?order attacks on the petroleum infrastructure of Iran’s Kharg Island oil center unless Tehran stopped targeting vessels in the Strait of?Hormuz. This warning could further roil the markets that are already dealing with a historic supply disruption. Trump's ultimatum was accompanied by a post on social media claiming that the United States "totally destroyed" military targets on the island. The island is the export terminal of 90% of Iran's oil, and lies approximately 300 miles (483 kilometers) northwest from the Strait. Trump wrote that U.S. strikes did not target Kharg’s oil infrastructure. However, "should...

The 'U.S. Department of Energy said that the Trump administration directed 'Sable Offshore on Friday to restore oil drilling activities off the southern California coast. Energy Department ?said. The move is aimed at restarting oil production on a cluster offshore platforms, as fuel prices are continuing to rise following the war against Iran. The President Donald Trump signed an executive directive on Friday to allow the Secretary of Energy to take action under the Defense Production Act. U.S. Secretary of Energy Chris Wright has instructed Sable to resume work on the 'Santa Ynez Unit and Santa Ynez Pipeline "to address...

The U.S. Federal Aviation Administration announced that it halted?traffic? at the?three main Washington-area airports, on Friday. Air traffic controllers in a Virginia facility were forced to stop work due to a?strong chemical smell. The FAA stated that the problem 'disrupted the operations at Potomac Consolidated Terminal Radar Approach Control, which controls the airspace of numerous airports within the Washington -region. This forced the 'agency to stop traffic at Reagan Washington National Airport Washington Dulles International Airport, and Baltimore-Washington International Airport. Airlines informed the FAA that they were relocating Potomac Controllers to a training facility, and some planes would be diverted...

Two explosive-laden unmanned boats rammed a Safesea 'Vishnu' tanker in an Iraqi port on Wednesday. The explosion engulfed vessel's portside in flames, and the crew had only seconds to respond, according to a preliminary assessment by the vessel’s U.S. operator and owner. The?Safesea Group, based in New Jersey, said that after speaking with the crew members who survived the attack, it appeared to be deliberate and calculated. At least 16 vessels, including tankers and other vessels, have been attacked in the?Gulf as a result of the U.S./Israeli war against Iran. The threat by Tehran to attack vessels in or near...

The futures linked to Canada's major stock index were muted Friday. The main cash index is on course for a second consecutive weekly decline, as investors remain on edge due to rising crude oil prices and inflation fears. As of 6:36 a.m., March futures for the S&P/TSX Composite Index edged up 0.07%. ET, whereas futures for Wall Street’s main indexes are mixed. Donald Trump called Iran's leaders "deranged scumbags", as the Middle East war approached its two-week mark on Friday. Mojtaba Khamenei, the new Iranian Supreme leader, pledged on Thursday to block?the Strait of Hormuz. Brent crude futures in May...

Volodymyr Zelenskiy, the president of Ukraine, said on Monday that Ukraine was interested in importing Mozambican liquefied gas, because it "struggles" to meet its energy requirements after years of Russian attacks against its production infrastructure. Prior to the war, Ukraine produced almost all its own gas. Andriy Pyshnyi, Central Bank governor of Ukraine, said that the Russian attacks have caused Ukraine to lose about half of its gas production. In the?autumn of last year, Russia intensified their attacks on Ukrainian gas facilities. Most are located in the?frontline areas in northeast and central Ukraine. Zelenskiy, who met with the President of...

Data released on Friday showed that a barrage of Ukrainian drone strikes against Russia's Black Sea oil export facilities as well as severe storms and ice conditions in Baltic Sea affected Russian oil exports. The United States issued a waiver on Thursday for countries to purchase sanctioned Russian crude oil and petroleum products that were stranded in the sea. This was done to stabilize global energy markets, which had been roiled by war with Iran. The easing of U.S. sanctions may not have a major impact on Russia's oil production due to the drone attacks and the bad weather. The...

The International Energy Agency reported on Thursday that Russia's crude-oil?and refined products?and revenues decreased in February to reach their lowest levels?since the onset of the Ukraine conflict 2022. Russia's commodity revenue is a crucial?part of state budget proceeds, and it is?needed to support increasing military expenditures. Since the beginning of the Iran War at the end of February, Russian oil prices have increased. The Paris-based IEA reported that Russia's crude exports decreased by 410,000 barrels a day from January to 4.2 millions?barrels a day. The drop was caused by the?reduction of exports to India after 'Washington discouraged Russia from cooperating...

Officials said that Hungary sent a fact finding?mission to Ukraine on Wednesday to investigate the Druzhba?pipeline?outage. Budapest is looking to restart the?flows?of oil amid rising global prices linked to the Middle East war. Since January, when oil flow stopped in the Druzhba Pipeline, Budapest and Kyiv have been locked in a diplomatic conflict. Viktor Orban has given a prominent place to his anti-Ukrainian rhetoric in his campaign for an April 12 election. Hungary blocked a new EU sanction against Russia, as well as a large loan to Ukraine due to the dispute. In a recorded Facebook statement, Gabor Czepek, the...

An official ticketing office said in Beijing on Tuesday that tickets for the first passenger trains?in six-years from Beijing to Pyongyang's capital were sold out before its departure date of?March 12?. The return of rail service suspended in 2020 due to the COVID-19 pandemic, restores an important transport link between North Korea and its main economic ally. According to the Beijing ticketing office, entrepreneurs, government officials, and journalists purchased tickets for the trip, which was restricted to those with business visas. Tickets are still available for the service scheduled for 18 March. North Korea is still largely closed to tourists...

Viktor Orban, Hungary's prime minister, called for the European Union on Monday to suspend sanctions on Russian energy and convened a government emergency meeting.to address rising fuel costs.just five weeks prior to a pivotal election. The war in Iran has fueled a rise in oil prices that have pushed up diesel and petrol costs in Hungary. Orban is now facing a challenge as he prepares for parliamentary elections on April 12, where he will be fighting to maintain his 16-year hold on power. Orban's Fidesz is trailing the centre-right Tisza despite having launched a series of measures that have increased...

Azerbaijan has said that it prevented several "terrorist" sabotage plots by Iran's Islamic?Revolutionary?Guard?Corps (IRGC), which included a plot to target a major oil pipeline running -through the South –Caucasus and into?Turkey. According to the Azertag news agency, a statement from the State Security?Service late Friday night, targets included the Baku, Tbilisi, Ceyhan (BTC), oil pipeline and the Israeli Embassy in Azerbaijan. Also, there was an Ashkenazi Synagogue as well as a leader of an ancient Jewish group in Azerbaijan known by the Mountain Jews. Iran has not responded to the statement. BTC is a pipeline that travels through?Georgia, Turkey, and...

The schedule showed that the differentials between dated Brent and Urals crude jumped in 'the Indian market due to supply shortages brought on by 'the conflict in Iran. Meanwhile, exports of Azeri BTC from Ceyhan were expected to increase next month. Reports on Thursday indicated that traders are selling Russian Urals at a premium to Brent of $4-5 per barrel upon arrival in Indian ports between March and April. This is after the United States granted Indian refiners an 'waiver' to resume purchasing Russian oil. Calculations on Friday showed that the grade's discount on Brent at the Russian Baltic Sea...

Viktor Orban, the Prime Minister of Hungary, said on Thursday that Hungary would use "political and financial tools" to force Ukraine to reopen a key pipeline - Druzhba - which carries Russian oil into Hungarian refineries. Since late January, Ukraine has suspended the flow of Russian oil through the Druzhba pipeline to Hungary and Slovakia. Kyiv claims that the pipeline had been seriously damaged by an fire following a Russian attack. Hungary and Slovakia - the only European Union countries that still import Russian oil - have accused Ukraine for deliberately delaying a resumption in?oil flow due to political reasons....

Peter Szijjarto, Hungary's foreign minister, said in a statement issued after he met with Russian President Vladimir Putin?in Moscow on Wednesday that two ethnic -Hungarian prisoners of... war would be released by.... Russia. Szijjarto traveled to Moscow one day after Hungary's prime minister Viktor Orban had a telephone call with Putin. They discussed the Middle East situation, Ukraine and whether there was enough crude oil and gas available for Hungary. Orban's Government has made Russia's War on Ukraine a major topic in his election campaign for the 12th April parliamentary elections, increasing tensions between Budapest & Kyiv. Szijjarto stated?earlier Wednesday...

The differential between Urals crude and dated Brent has remained relatively unchanged, although buyers in Asia have increased their 'interest' in this grade due to Middle Eastern oil supply disruptions. They are still weighing the risks as well as the duration of the shortages. The disruption to the flow of oil through the Strait of Hormuz, at the southern tip of Gulf, has led to a tightening of availability of Middle Eastern grades and increased freight rates. According to two traders and an industry source, Indian refiners are contacting Russian sellers about March and April deliveries. Chinese buyers also show...

Sources in the industry said that Russia was unable to take advantage of this week's spike in global crude oil prices because a combination of?days?of Ukrainian drone attacks, and harsh winter storms?have severely curtailed their?capacity?to export. Three trade sources and Russian and Ukrainian officials confirmed that the Sheskharis Oil Terminal in Novorossiysk Port, Russia, suspended oil loadings Monday following a drone attack by Ukraine which damaged and destroyed dozens of buildings and set a fuel depot ablaze. Crude oil benchmarks rose 8% on Monday, the third consecutive session of gains, as?the U.S. - Israel conflict with Iran intensifies, disrupting fuel...