Transportation

Two industry sources said on Monday that a Ukrainian drone attack on Russia’s Orenburg Gas Plant has forced Kazakhstan to reduce its production at Karachaganak Oil and Gas Condensate Field by 25 to 30%. Kazakhstan's Energy Ministry said that Orenburg, one of the largest gas processing facilities in the world, was forced to stop importing gas from Kazakhstan following the attack. Ukraine confirmed that it had hit a gas station in the Orenburg area, located 1,700 km (1,060 mi) east of Russia's border with Ukraine. It also confirmed hitting an oil refinery, in the Samara Region. Since August, Kyiv's attacks...

Grupo Aeromexico announced on Friday that it was aiming for a valuation up to $2.92billion in its U.S. Initial Public Offering, as the Mexican airline looks to go back public after more than two years. Aeromexico, based in Mexico City, and its existing shareholders seek up to $234.5 millions by offering 11,7 million American depositary shares priced between $18 and 20 each. After a successful bankruptcy reorganization, mature companies are often looking to return to the public markets. Aeromexico filed Chapter 11 bankruptcy in 2020, with $2 billion of debt. The pandemic had a major impact on travel demand. Aeromexico,...

On Thursday, Governor Kathy Hochul said that the New York State Public Service Commission had approved a new underground transmission line linking an existing Clay Substation to Micron Technology's proposed megafabrication facility in Onondaga County. Hochul's release stated that the two-mile 345-kilovolt cable is an important piece of infrastructure in Micron's $100 billion investment planned in Central New York. This investment will be the largest private investment ever made in the history of the state. Micron expects to create 9,000 jobs directly through the project over the next 20 years. Hochul stated that the project will transform Central New York....

The U.S. Department of Energy has granted a $1.6 Billion loan guarantee to American Electric Power for the upgrade of nearly 5,000 miles of transmission line across five states. This comes as the demand from data centers, which are power hungry, is surging. AEP Transmission is upgrading power lines in Indiana and Michigan as well as Ohio, Oklahoma, and West Virginia. This will primarily support data centers, artificial intelligent, and manufacturing. According to the U.S. Energy Information Administration, power consumption will reach record levels in 2025 and in 2026 due to a surge of demand for data centers that run...

The supertanker rates have risen this week, and they are likely to remain high due to the U.S. and China titling-for-tat increases in port fees as well as concerns over the impact of U.S. sanction on a Chinese major crude oil terminal. According to traders, the Chinese port fees announced Friday would increase shipping costs by more than $7 per barrel for a Very Large Crude Carrier that is linked to the United States. This would amount to around $15 million, which would discourage anyone from chartering vessels linked to the United States. The VLCC spot rates for the Middle...

A California judge on Monday sided with state government, and tentatively ruled in favor of the state against Houston-based Sable Offshore’s request to restart a crude oil pipeline that draws crude oil from the Santa Ynez off-shore oil project. The tentative decision of Judge Thomas Anderle at the Superior Court for Santa Barbara County is a major setback for Sable whose entire business revolves around the Santa Ynez Project. In extended trading, its shares dropped over 20% to $14 per share. In May, the company restarted production at one of three offshore platforms that are part of this project. It...

Mark Carney, the Prime Minister of Canada, said that reviving the Keystone XL pipeline project from Alberta to the U.S. would help strengthen U.S. Canada energy cooperation. Carney brought up the idea in a meeting with U.S. president Donald Trump Tuesday to defuse trade tensions. A source familiar with these discussions said that Carney had raised this idea. "We're looking at areas where our economies can be integrated better. He said that there were many opportunities in the energy industry, including Keystone XL. Trump revived the pipeline during his first term after it was rejected by President Barack Obama. The...

Hungary's MOL oil company will increase its deliveries to Serbia following U.S. Sanctions on the NIS Refinery, Hungary’s Foreign Minister Peter Szijjarto announced in a Friday statement. Thursday, the United States imposed sanctions against Serbia's Russian owned oil company NIS. This prompted Croatia to reduce crude supplies. There are also concerns that Serbia's only refinery could cease operations in a few weeks. Szijjarto stated that "as MOL is an important player in Serbia's crude and fuel supply, our Serbian friends are able to rely on MOL for increased supply." He added that the increase would not be enough to replace...

Sean Duffy, the U.S. Transportation secretary, warned that the government may dismiss air traffic controllers if they repeatedly fail to report to work during the shutdown. Flight delays are continuing to increase. Duffy stated on Fox Business Varney & Co. that if there is a small group of controllers who don't come to work and are the "problem children", we will let them go. "I can't have people not showing up for work," Duffy said on Fox Business' Varney & Co. FlightAware reports that there have been almost 21,000 delays in flights since Monday, including 6,300 on Friday. The FAA...

Trump's administration proposed on Thursday to ban Chinese airlines from flying above Russia during flights into and out of the United States. They said the practice places American carriers at an unfair disadvantage. U.S. Airlines have criticized for years the decision of allowing Chinese carriers to fly above Russia on certain flights, because they gain the benefit of reduced flying time and less fuel. In its proposal order, the U.S. Transportation Department stated on Thursday that "this imbalance has now become a significant factor in competitiveness." USDOT announced that it would ban Chinese overflights to "level this competitive disparity between...

Data from LSEG and market sources showed that the cheaper barrels were what attracted buyers to Taiwan and India, where Russian naphtha was exported in August. The main destination for Russian naphtha has been the Middle East and Asia since the European Union's embargo against Russian oil products came into force in February 2023. Naphtha, a feedstock used in the petrochemical sector, is used to produce olefins (olefinols) and aromatics. These are then processed into a variety of products such as plastics, synthetic fibres, resins and other chemicals. According to LSEG, the export of naphtha from Russian ports to Taiwan...

Data from market sources and LSEG revealed that Taiwan and India were the two main destinations of Russian seaborne naphtha in August as cheaper barrels attracted buyers. The main destination for Russian naphtha has been the Middle East and Asia since the European Union imposed a full embargo against Russian oil products in February 2023. Naphtha, a feedstock used in the petrochemical sector, is used to produce olefins (and aromatics), which are then processed into a variety of products such as plastics, resins, fibers, and other chemicals. According to LSEG, the export of naphtha from Russian ports to Taiwan has...

Transneft's pipeline network is not experiencing a reduction in supplies from Russian oil companies, according to a senior Transneft executive. Deliveries this year will be on par with those of 2024. Maxim Grishanin is the first vice president of the company. He told reporters that the company had enough capacity to handle a possible rise in supply. Russia will increase its output to meet the demands of the Organization of Petroleum Exporting Countries (OPEC) and its allies. Transneft transports over 80% of the oil produced by the country. Grishanin stated that Transneft had a growing cash deficit due to an...

Three market sources reported that the Black Sea port in Russia, Novorossiisk, has reached its export capacity limit. This leaves traders scrambling to find a new route for crude oil, which it is unable to refine at home and can only produce because of increased OPEC+ quotas. Organization of the Petroleum Exporting Countries (OPEC) and its allies have been easing up on output restrictions. In addition, Russia's refining facilities carried out record amounts of maintenance in August, and September. This was partly due to damage caused by Ukrainian drones. As a result, its ability to process crude oil domestically has...

On Tuesday, major Chinese airlines urged the Trump Administration to abandon its plan to ban them from flying above Russia on U.S. flight routes, claiming that it would increase flight times, increase air fares, and disrupt some routes. The U.S. Transportation Department last week proposed that Chinese airlines be banned from flying over Russia in routes between the United States and China, claiming the shorter flight times put American carriers at an unfair disadvantage. China Eastern, which was one of the six Chinese airlines to send a letter, stated in a USDOT filing that this move could increase flight times...

Azerbaijani Minister of Energy Parviz Shahbazov announced on Tuesday that Azerbaijani and Kazakhstan were considering a 7 million metric ton increase in oil transit through the Baku, Tbilisi, Ceyhan pipeline by 2027. Since 2023, BTC has transported 3.4 million tonnes of Kazakh crude oil to the global market. Opportunities are being considered to raise annual transit volumes to 7 million tons by 2027," Shahbazov told the 21st meeting of the Azerbaijan-Kazakhstan intergovernmental commission on trade and economic cooperation. Azerbaijan exported 18.4 million tonnes of oil via the Baku, Tbilisi and Ceyhan pipeline in January-August. This is a 5.3% decline from...

Local officials reported that Russian forces had attacked Kharkiv on Monday with guided bombs, knocking out electricity to 30,000 people in three districts. In a Telegram message, Regional Governor Oleh Syniehubov wrote that Russian forces had used guided bombs against the Nemyshlianskyi, Slobidskyi, and Shevchenkivskyi districts to the south and north of the city. Interviewed on local TV, Mayor Ihorterekhov said that the three bombs had damaged a hospital as well as power transmission lines. Nearly 30,000 people were affected by power outages. Four people were injured by glass that was flying, he said. Some patients had to be transferred...

Aleksandar Vucic, Serbia's president, said that Serbia would do all it could to protect its own interests if the U.S. imposed sanctions on Serbian-based NIS oil company, which is owned by Russia. Washington announced sanctions against NIS in January, Serbia's largest oil importer, and one of Russia’s last remaining energy assets within Europe, for Moscow's invasion of Ukraine in 2022. NIS announced last week that there would be no further delays. "Our Russian Friends have understood our message." We knew their interests. We will do all we can, both tactically and strategically, to serve the interests of Serbia", said Vucic...

The differential between Brent and Urals crudes dated on Wednesday remained unchanged, but the Azeri BTC plan for exports from Turkey's Ceyhan Port in November was set at 15,3 million barrels compared to the 15.4 million barrels exported in October. Calculations showed that Azeri BTC crude exports would increase by approximately 3% per day in November compared to October. Alexander Novak, Deputy Premier of Russia, said that the country has gradually increased its oil production. It was very close to achieving the output quota set by OPEC+ last month. PLATTS WINDOW There were no bids or offerings reported on the...

A government official said that there is sufficient supply of Russian crude oil on the market for Indian refiners, as Ukraine's attack on Russia's energy infrastructure has reduced its refining capability and made more crude readily available. When India refused to comply, Washington imposed tariffs of up to 50% on U.S. imported goods from India. The official who declined to be named due to the sensitive nature of the matter said that Indian refiners still buy Russian oil. India is the largest buyer of Russian oil sold by sea. The oil was discounted after certain Western nations refused to buy...

Poland announced on Friday that the cost of its plan to connect to a NATO pipe-line network designed to provide fuel to troops in case of war will be 20 billion zlotys (about $5 billion). The ministry and the Polish pipeline operator PERN had signed an agreement earlier in the day to connect the pipelines of the country to the NATO network. Cezary Cezary Tomczyk, Deputy Minister of Defence said: "We're talking about...construction pipelines covering a distance up to 300 km...we're talking about one the largest investments made in the security and safety of the Polish State in the past...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. In a memo, the Trump administration lays out a range of terms that are meant to raise university standards and performance. Trump Administration withholds $18 billion of infrastructure funds from some major New York City transportation projects, citing concerns over diversity, equity, and inclusion. Excelerate Energy was awarded a contract by Iraq for the development of an integrated floating terminal to import liquefied gas. Officials from the U.S. said that they will give Ukraine intelligence on long-range...

Three traders said that the premiums for Russia's ESPO blend crude oil loaded from Kozmino have fallen for November-loadings because independent Chinese refiners - key buyers of this grade - are facing dwindling import quotas. Traders said that cargoes due to be loaded from the Far Eastern Port of Kozmino, in November, were sold for a premium of about $1.70 per barrelle to ICE Brent, on a delivery-basis to Chinese ports. This is down from around $2 per barrelle at October levels. Independent refiners in China are subject to a strict quota-based system. State-run refiners like Sinopec PetroChina and CNOOC,...

The differential between Russia's Urals and Brent crude oil was little changed in Tuesday's featureless trading. However, the return of Iraqi Kurdistan Oil exports will add pressure to the market for sour crude, traders have said. Iraq wants to double the amount of crude oil flowing through the recently reopened Kirkuk - Ceyhan pipeline in Iraq by next year. This was stated by an official from Iraqi state oil marketing company SOMO. Rikan Kareem, speaking at a London conference on Tuesday, said that SOMO aims to reach 400,000-500,000 barrels of oil per day by 2026. After reopening the pipelines on...