Transportation

EIG Global Energy Partners hired PJT Partners as an advisor on how to structure a 'new fund' for its stake in Saudi Aramco oil pipeline assets, as the vehicle that holds it is nearing expiry. Sources said that the so-called continuation funds would allow U.S. infrastructure investors to keep the Aramco stake they bought in 2021 for a longer period of time and bring in new investors. EIG, PJT Partner?and Aramco didn't immediately respond to a comment request. A continuation fund allows a company to continue ownership of an asset after the fund's initial?lifecycle. Firms can sell assets when funds...

ESAB Corp, a?Canadian testing instrument manufacturer?, announced on?Monday that it will acquire Eddyfi Technologies? for $1.45 Billion. The company hopes to expand its product range and gain access to booming industries such as aerospace and defence. In a statement, ESAB CEO Shyam kambeyanda stated that the?combination would also help expand the company's global presence and increase its exposure to "high growth end?markets", including nuclear, civil infrastructure, energy, and civil. North Bethesda-based ESAB announced that the deal would be financed with a 'combination of debt, cash and $318,000,000 of fully committed equity. Eddyfi provides advanced sensing, remote monitoring, robotics, and software...

Officials said that Saturday, parts of Ukraine and Moldova - including the capitals of both countries - were plunged into a blackout due to a "malfunction" of high voltage power lines. Later in the day, power was restored. The accident was not linked directly to war damages, but Ukraine's electricity grid suffered as a result of the cumulative impact of Russian airstrikes. This led to severe restrictions in the supply of electricity over the past few weeks. Volodymyr Zelenskiy, the president of Ukraine, blamed ice accumulation on power lines for a cyberattack and dismissed it. In his video nightly address,...

The PJM Interconnection region, which covers one fifth of Americans, is experiencing an unusually cold and prolonged winter. PJM is responsible for the electricity flow in 13 Mid-Atlantic and Midwest states. Prices on the market impact the bills of approximately 67 million consumers. Grid operator predicted a demand of 141 gigawatts for Friday. The continued Arctic weather is likely to keep electricity usage high until February 2. PJM has managed to survive a'snowstorm' and 10 days of freezing temperatures without requiring any rolling blackouts. The grid operator stated that it continues to prepare for cold operating conditions with its transmission...

According to the latest seven-day forecast of the operator, the power demand on the biggest U.S. grid is expected to reach a peak on Friday at?141 gigawatts. This will be just short of the winter record for the PJM interconnection. PJM’s?performance?"has been closely monitored partly because its heavy concentration data centers, whose consumption of power is rising faster than the grid's ability to put more generation on line. The operator, who manages electricity flow for 67 millions people in 13 Midwest and Mid-Atlantic States and Washington, D.C., managed to navigate a snowstorm, and 10 days of freezing weather, without ordering...

On Thursday, the largest U.S. electrical grid operated at near-record?levels of demand amid freezing temperatures. Forecasters predict another arctic blast for the weekend. The PJM interconnection, which'manages' the flow of electricity to 67 million residents in 13 Mid-Atlantic and Midwest states, as well as Washington, D.C., recorded a morning demand for electric power at 140 gigawatts. The grid's winter demand record is 143.7 GW. It was set in January 2025. Earlier this week, PJM predicted that the record would be broken on?Friday. They forecasted 148 GW in demand. PJM says that Friday's demand is expected to be 142 GW, not...

Mark Carney, Canadian Prime Minister, said that he expects the U.S. government to respect Canadian sovereignty when asked about reports that U.S. officials met with separatists who are seeking independence for?the province of Alberta. The Financial Times reported that State Department officials met with the Alberta Prosperity Project three times. This group is pushing for a vote on whether or not the energy-producing Western Province should "break away from Canada". "We expect that the U.S. government will respect Canadian sovereignty." Carney said at a press briefing that he was "always clear" in his conversations with Trump about this. Trump added...

North American Electric Reliability Corporation reported on Thursday that the risk of U.S. outages has increased due to the changing mix of electricity supplies and the rapidly increasing demand during the winter months. NERC stated that the Mid-Atlantic region, Midwest, Northeast, and Texas may face a high-risk of power shortages before the end of 'the 'decade. This week, high winds and prolonged freezing caused electrical systems to struggle. More than one million U.S. households and businesses lost power at a single point. In its long-term analysis, NERC stated that the coldest months will pose an increased challenge to the grid....

Republicans and Democrats in the Senate Environment Committee said that on Wednesday,?U.S. Infrastructure?project developers must be assured that projects fully approved will not be halted or cancelled due to changing political priorities. The Republican Senators' statements were an apparent criticism against President Donald Trump's attempts to stymie the development of renewable energy, especially his administration's decision to stop offshore wind projects which are permitted. At a hearing, the lawmakers discussed federal environmental review and permitting processes that Congress has promised to reform. "I strongly believe that no project should be worried about being halted by an administration," said Senator John...

The PJM interconnection predicts that winter power demand will be at a record high ahead of the weekend, causing transmission line congestion and increasing electricity prices. Congestion makes it impossible to deliver the cheapest electricity to homes and businesses. This forces PJM, and other grid operators, to dispatch power plants that are less efficient and costlier to meet demand. PJM spot wholesale electricity rates have risen to over $1,000 per megawatt-hour this week, in areas where congestion on power lines has restricted the flow of energy. Turbulence in power lines and equipment can also cause small blackouts that can spread...

RWE's CEO said that the resulting?geopolitical tensions? have led to a heightened expectation from governments regarding long-term security and resilience in energy supply. Markus Krebber, a Handelsblatt Energy Summit reporter, said that "we are entering a new age in energy supply". He added that the focus of economics was shifting towards a "long-term strategy for energy supply without new dependences". Germany, Europe's largest economy, is among Western nations looking for new alliances. This is because trusted relationships have been damaged, most notably those with the United States, as a result trade tensions caused by Donald Trump's policies. Berlin has severed...

The number of power plant outages in the U.S. largest regional grid on Tuesday was?more that 70% higher than January's average. This leaves a region with 67 million residents with a?thin cushion of energy against the frigid temperatures and forecast for record winter demand this week. The PJM interconnection, which includes 13 Mid-Atlantic states and the Midwest, reported that most of these outages were caused by power plants being forced to shut down due to freezing temperatures and limited natural gas supplies. The gas-fired power stations in the Dominion Energy Zone of PJM were the hardest hit. Tuesday's forecast was...

The Russian captain of the container ship that collided with a 'U.S. The London court found the Russian captain of the container ship that crashed into a?U.S. Vladimir Motin was the captain of the Solong tanker when it struck the Stena Immaculate, which had been anchored with just over 220,000 gallons of aviation fuel. The crash on March 10 started a fire that spread to both ships. Mark Pernia was a crew member of the Solong, a Filipino national whose remains have never been located and are presumed to be dead. Tom Little, the prosecutor at Motin's first trial last...

Calculations on Monday showed that the average daily supply of natural gas to Europe via the TurkStream pipeline by Russian energy giant Gazprom rose 10.3% year-on-year in 'January. After Ukraine decided not to renew a five-year deal for transit with Moscow, which expired in January 2025, the only remaining transit route is through Turkey. Calculations show that the total Russian gas supplied to Europe through TurkStream was 1.73 billion cubic meters (bcm) during January, compared with 1.57 bcm in the same period last year. According to calculations based on data from the European Gas Transmission Group Entsog, Russian?gas exported via...

A lawyer for the wife of the captain said that the captain was taken from British territorial waters to a U.S. Coast Guard vessel. U.S. Coast Guard and U.S. Military Special Forces, with a judicial seize warrant, captured the Russian flagged Marinera on the Atlantic Ocean near Iceland, after pursuing the vessel for over two weeks, as part of Washington’s efforts to stop Venezuelan oil exports. The tanker was then moved to an area?off of the coasts of Scotland. Aamer Anwar is the lawyer for Natia Dzadzama's husband, Avtandil Kalandadze. COURT ORDER REVOKED Anwar stated that on Monday, the Scottish...

Two sources reported that Russian crude oil cargoes dated February Urals traded in Indian ports at discounts close to the largest since 2022 compared with dated Brent, amid increased pressure from Western sanctions. The two sources claimed that the 'cargoes' of Urals oil to be supplied in February will trade at a discount of $10 per barrel compared to Brent for delivery to Indian ports. This is a rise from the estimated cargoes loaded in the fall months last year by $3-5 per barrel and close to the largest discount ever recorded. The U.S. targeted oil majors Lukoil & Rosneft...

The company reported that a senior executive of Ukraine's state-owned grid operator Ukrenergo was killed?while overseeing repairs to a damaged power facility,? caused by a Russian strike. The company didn't say how Oleksiy died. They only called it "tragic". Evropeiska Pravyda, an unnamed local media outlet, reported that Brekht died after receiving a shock from one of the substations. The company posted a statement on social media saying that "Death... caught up with him" where he felt it necessary to be in order to "restore light as quickly as possible to the people." Ukrenergo didn't immediately reply to a question...

Volodymyr Zelenskiy, the president of Ukraine, said on Wednesday that more than half of Kyiv was still without electricity a day after Russian strikes against energy facilities. Ukrainians are enduring a bitter cold snap. Kyiv residents are a diverse group. Cold apartments Since a recent Russian attack on a grid that has been battered for nearly four years by missile and drone attacks, the grid is only getting a few hours or no electricity at all. Zelenskiy reported on X that "as of this morning about 4,000 buildings in Kyiv still lack heat and almost 60% of the capital is...

The heaviest winter storm to hit Asia in 60 years buried Russia's Far East under metres of snow on Tuesday. A winter blast blanketed Asia with snow, causing flights in Japan's Northwest to be grounded and affecting Shanghai. The cold snap disrupted travel across the region. Roads were closed in China and air travelers were stranded in Japan. Parts of?Russian Far East are now paralysed. Scientists have said that the weather is related to the waves of cold air from the Arctic which are simultaneously affecting Eastern Russia, Asia and Eastern Europe. Theodore Keeping said that the jet stream, which...

The lawyer of the Chinese captain who is accused of damaging undersea cables on a?ship registered in Hong Kong in the Baltic Sea, said that 18 witnesses will be called in to testify. According to a Hong Kong charging document, Wan Wenguo is accused of causing "criminal damages" on the underwater natural gas pipeline between Finland and Estonia in October 2023. Since Russia's full-scale invasion of Ukraine began in early 2022, the Baltic Sea region is on high alert for sabotage. This follows a series outages of gas pipelines, power cables and telecoms. Wan, 43 years old, appeared before the...

Industry sources said that the freight rates for tankers shipping Urals crude to India from Russia's western port have risen in this month. This is because bad weather has made fewer vessels and disrupted loading and unloading, and increased costs of insurance. Two oil tankers were struck by drones in the Black Sea Tuesday, including a tanker chartered by the U.S. oil giant Chevron. After drone attacks this week on two Greek-operated oil tankers, Greece has instructed its shipping fleet to take the most stringent security measures when sailing into Russian Black Sea ports. The average freight?costs for transporting Urals...

A London court heard on Wednesday that the captain of a container vessel which smashed into a U.S. oil tanker last year off Britain's East Coast tried to alter course in order to avoid a fatal collision. Vladimir Motin's lawyer stated that the Russian captain of the Solong, who hit the Stena Immaculate tanker anchored in March 2025 and tried to turn off the autopilot but failed, shortly before the crash. Motin is facing trial at the Old Bailey, accused of gross negligence manslaughter. Mark Pernia is a 38-year-old crew member whose body was never found, but is presumed to...

Oleksandr vilkul, the head of the military administration, said that Russian drones had struck Kryvyi rih in central Ukraine on Wednesday, forcing power outages for over?45,000 people and disrupting heat supply. If you can, please charge your mobile devices and fill up with water. Vilkul told Telegram users that it was going to be a difficult day. The water pumping stations in the system could have pressure problems. It was not possible to determine the exact scale of 'the attack immediately. Russia has not commented on the?strike. Russia repeatedly attacked Ukraine's power plants, substations, and transmission lines with drones and...

Data from LSEG and market sources showed that Russia's seaborne gasoil and diesel exports increased by almost 40% in December compared to November, reaching about 3,41 million metric tonnes. This was due to higher fuel production, and a'seasonal decline in domestic demand. Sources said that exports of ultra-low sulphur diesel via Primorsk - Russia's largest outlet for diesel shipments - grew 35% on a month-on-month basis to 1.7 millions tons as major suppliers increased output and supplies. Last month, diesel?and gasoline loadings at southern ports Tuapse?and Novorossiysk increased by?almost 60 percent compared to November. This was due to local refineries...