Transportation

The Canadian company Pembina Pipeline announced on Wednesday that it would supply Malaysia's PETRONAS with 1.0 million tonnes of liquefied gas per year. Cedar LNG Project for 20 Years The agreement marks an important milestone in the $4 billion Cedar LNG Project and reinforces Canada's efforts to become a global supplier of LNG to Asia. The company stated that it would give PETRONAS an additional outlet to export natural gas for its Canadian upstream investments, while also providing Pembina a stable and long-term revenue source. Cedar, a joint-venture between Haisla First Nation, an Indigenous community, and Pembina would produce 3.3...

Matt Cox, the CEO of U.S. ocean-shipping company Matson, said that since October 14, Matson had paid $6.4m in port fees to China. Last week, President Donald Trump agreed with President Xi Jinping to put these tit-fortat levies in pause for a year starting November 10. China's media reported that Hawaii's Matson, which is one of a few global shipping companies with U.S. built and -flagged ships, was the first company to pay these fees. Cox, Matson's CEO, said that the U.S. trade representative and the China Ministry of Transport will soon publish detailed instructions, as well as any refund...

On Tuesday, the Canadian government unveiled its first budget under Prime Minister Mark Carney. The budget proposes a number of key measures. INVESTMENTS The government proposes to invest a total C$280 billion over the next five-year period. This includes C$115 billion for infrastructure, C$110 in productivity and competition, C$30 in defense and security, and C$25 in housing. Increased Defense Spending The government will spend C$81.8billion over 5 years to improve recruitment, repair infrastructure, and invest in military technologies. This money does not include the funds planned for fighter jets or submarines. SAVINGS The government will save C$60 billion over the...

The administration of President Donald Trump, which had threatened to remove aging railcars in Pennsylvania from service, announced on Tuesday that it would extend the deadline for an inspection by a state transit agency. The Federal Railroad Administration issued a special order on October 1 requiring that the Southeastern Pennsylvania Transportation Authority address the fire risk from its 225 Silverliner IV Railcars within 30 days. The order was issued in response to a safety recommendation made by the National Transportation Safety Board after five fires. FRA gave the agency until November 14 to finish inspections, and until early in December...

Ukraine's authorities reported that two people died in Odesa's southern region, and nearly 60,000 were left without power after the overnight Russian airstrike on Ukraine's frontline Zaporizhzhia region. As winter approaches, Russia has intensified its missile and drone attacks on Ukraine's electricity grid. This has caused outages, and forced Kyiv emergency crews into a race to fix damage and manage rolling power blackouts. Ivan Federov said that the attack in Zaporizhzhia resulted in two injuries and the destruction of buildings, he told Telegram. Fedorov posted photos of nighttime images of buildings that had their facades and windows ripped off. Zaporizhzhia...

The U.S. Army Corps of Engineers approved the plan of Canadian company Enbridge to reroute an oil pipeline section around a Wisconsin tribe reservation. The Army Corps (a federal engineering service) issued a permit to Enbridge on Wednesday to build a 41-mile section of pipeline around Bad River Reservation to replace an existing segment that crosses tribal land. In 2019, the Bad River Band filed suit to remove the pipeline from its land. They cited concerns over treaty rights, and the potential risk of an oil spill on Indigenous people and their environment. Enbridge submitted permits to state and federal...

Gulf South Pipeline Company LLC (a subsidiary of Boardwalk Pipelines LP) announced Thursday a binding season for the Texas Gateway Project. It invited firm commitments from its customers to reserve capacity on its planned new network. Boardwalk announced in a recent press release that the Texas Gateway Project will connect Gulf South's current network with new pipelines and gather natural gas at the Texas hubs of Katy and Carthage. According to the press release, gas will be delivered in Southwest Louisiana, near Gillis, to meet a growing demand. The project, it said, will provide increased liquidity, security of supply and...

Enterprise Products Partners announced a lower-than expected quarterly core profit Wednesday as its liquids and natural gas businesses were weaker than expected. However, the company's petrochemicals business and refined products were stronger. Enterprise said that its board also increased the authorized size for its common unit purchase program from $2 billion to $5 billion, leaving $3.6 million in remaining capacity. The company described this authorization as "multi-year program" that offers an additional method to return capital to the investors. The company purchased 80 million dollars worth of units in the first quarter. UBS analyst Manav gupta called buyback update a...

Greenpeace, an environmental group that protests against Dakota Access Pipeline construction, was awarded $667 million in damages by a jury in North Dakota. The judge reduced this amount to about half on Wednesday. The State District Judge James Gion ruled that the amount Greenpeace is owed by Energy Transfer, a pipeline company, should be limited at $345 million. He found some of the damages to be excessive or duplicative. Greenpeace's interim general attorney, Marco Simons said that the group "still believes that the remaining allegations are legally unfounded." The case, he added, "has always involved a wealthy corporate using the...

The U.S. refiner HF Sinclair announced on Wednesday that it is looking at expanding its footprint in midstream refined product areas across the Rocky Mountain region and West Coast. HF Sinclair aims at addressing the growing imbalance between supply and demand in western markets. This is especially true in Nevada and California. Following a series of refinery closings, regulators are scrambling for alternative sources of supply. HF Sinclair stated that "(our) geographic footprint and infrastructure provides an advantaged position for quickly and effectively delivering refined products to where the market demands are greatest." About 20% of California fuel needs will...

It said that an assessment by Midcontinent Independent System Operator showed that there are enough resources to provide power during winter, but also highlighted the risks and challenges of cold and extreme weather operations. In a press statement, MISO said that its annual Winter Readiness Workshop will take place on October 29, and include transmission and generation forecasts as well as weather predictions for the coming season. Jason Howard, MISO director of operations and risk management, said that a clear understanding of risks was essential to stay ahead of extreme weather. The release stated that the winter forecast indicates near-...

NASA's X-59 quiet supersonic jet plane flew over the Southern California Desert on Tuesday, the first flight of a new experimental aircraft that is designed to break through the sound barrier while minimizing noise. The sleek aircraft measuring less than 100 feet (30 meters), from nose to tail took off an hour after sunrise at Plant 42, a Lockheed Martin Skunk Works facility located in Palmdale. Palmdale is about 60 miles (100 kilometers) north of Los Angeles. After a steep ascent over fields of sod just east the runway, it was observed that the plane banked to the north, on...

According to two industry sources, and LSEG ship tracking, Russia's Black Sea Port of Tuapse suspended fuel exports while the local refinery halted crude processing following the November 2 Ukrainian drone attack on its infrastructure. Ukraine announced on Sunday that its drones had struck Tuapse - one of Russia's major Black Sea oil port - causing an explosion and damage to at least one vessel. This was part of Kyiv’s effort to undermine Russia’s war economy through targeting its energy infrastructure. The regional administration confirmed that the strike caused an fire in the port. Since several months, Ukraine has been...

Calculations on Saturday showed that the average daily supply of natural gas to Europe by Russian energy giant Gazprom via the TurkStream pipeline increased 5% from previous months. The only remaining transit route for Russian gas into Europe is through Turkey after Ukraine decided not to renew a transit agreement with Moscow that expired in January. Calculations show that the total Russian gas supplied to Europe through TurkStream in the first 10 months of the year was 14.7 billion cubic metres (bcm), compared to 13.7 bcm for the same period last year. Gazprom exported 26.6 billion cubic meters of gas...

U.S. sanctions against Russian oil producer Rosneft rekindled German discussions about nationalising its business, including the refinery on which Berlin relies for the majority of its fuel. Two sources familiar with these talks said that the U.S. sanctions had prompted the discussion. The situation reveals the complex web of links between Germany and Russia that supplied Europe's industrial superpower with energy during the decades preceding the war in Ukraine. The U.S. Treasury announced on Wednesday that it had granted a license exempting Rosneft’s German arm of the U.S. Sanctions until April 2026. The two sources said that Berlin prefers to...

The differential between dated Brent and Urals crude remained unchanged on Monday as buyers of both grades awaited clarity about the impact of new Western sanctions on Russian oil imports. Last week, the European Union (EU), Britain and the U.S. imposed sanctions on Russia, including those affecting its two largest oil producers, Lukoil, and Rosneft. The U.S. gave companies until November 21, 2011 to end their transactions with Russian oil producers. Four sources familiar with the discussions said that OPEC+ is likely to increase output modestly in December as it continues with its monthly increases aimed at regaining market share....

Hayan Abdel Ghani, the Iraqi oil minister, said that Iraq was in negotiations with OPEC over its quota within the available capacity of 5.5 millions barrels per day. In April, the country, OPEC’s largest overproducer submitted plans to further reduce oil production to compensate for pumping beyond agreed quotas. Abdel-Ghani stated that Iraq was committed to its OPEC quota despite having a larger production capacity. Total oil exports are currently at 3.6 million bpd. Abdel-Ghani said that the fire which broke out in Zubair's southern oilfield on Sunday has not affected exports. Abdel-Ghani said that exports from Iraq's Kurdistan north...

Three industry sources confirmed on Wednesday that a Chevron-led group developing Kazakhstan's biggest oilfield Tengiz, will resume oil exports through the Baku-Tbilisi - Ceyhan pipeline by November. The pipeline connects Georgia with Turkey, and is primarily used to export oil produced by the Azeri Chirag and Guneshli fields, operated by BP. In July, organic chloride contamination was found in Azeri BTC crude shipments. This caused several days of delays in loadings at BTC Ceyhan in Turkey. The TCO consortium halted exports along the route in the month following. Tengiz did not return to the pipeline when Kazakhstan recommenced oil supply...

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...