Transportation

The largest U.S. grid operator –?PJM interconnection – announced on Wednesday that it would begin processing new power plant applications this coming week, after working through a backlog of years-long projects. PJM controls the flow on electricity transmission lines in 13 Midwest and Mid-Atlantic States. However, the company is experiencing electricity shortages because of a recent surge of power demand by data centers, which has outpaced new supply. The grid operator that serves about 1/5 of Americans began accepting applications for new power plants to connect to grid several months back. The deadline for submissions was Monday. PJM reported that...

The regional grid operator of 15 U.S. states in the 'Midwest' and 'South, said that its annual capacity auction showed there would be enough electricity this summer to meet peak demand. The auction prices of $424 per megawatt day indicate that the risk of summertime blackouts remains elevated in much of the territory controlled by the Midcontinent Independent System Operator. The annual auction ensures that the power plants can meet peak demand for electricity. The U.S. regional grid operators are struggling to keep reserve margins adequate due to the surge in demand from data centers that use a lot of...

HSBC stated in a research note published on Tuesday that the United Arab Emirates' exit from OPEC, and the wider OPEC+ coalition from?May 20, 2026 will have a limited impact?on the oil markets. However, it could weaken OPEC's ability to manage prices and supply over time. The?UAE?,?one OPEC+'s biggest producers?, announced on Tuesday that it would be leaving both OPEC+ and OPEC, dealing a major blow to the producer's group, as the U.S./Israeli war against Iran disrupts the energy flow. HSBC predicts that global oil supplies will remain stable in the short term as disruptions to the Strait of Hormuz...

U.S. Pipeline Operator ONEOK increased its annual earnings forecast 'on Tuesday, after reporting a first-quarter core income that exceeded estimates. This was due to higher volumes in its natural /gas liquids, its gas?processing, and its pipeline systems. The 'company' raised its expectations for 2026 net profit to a range between $3.21 billion and $3.79 billion compared to its previous forecast of $3.19 to $3.71. The company also raised its EBITDA forecast to $8.0 to $8.5 billion from the previous range of $7.9 to $8.3billion. Midstream operators in the U.S. are benefiting from the rising production of shale gas, especially from...

Joby Aviation has been testing the first point to point?air taxi demonstration flight in New York City for a week as it gets closer to gaining government approval for commercial electric'vertical takeoff & landing?aircraft. The Federal Aviation Administration announced a pilot program in September that included the testing of eVTOLs. On Monday, a Joby aircraft departed JFK Airport and landed in the existing heliport networks of New York, including Downtown Skyport and the West 30th Street & East 34th Street Heliports located in Midtown. There are more tests planned throughout the week. Air taxi companies are racing to obtain?approvals for...

Sources say that the administration of U.S. president Donald Trump is looking at using the Defense Production Act as a legal basis to bailout Spirit Airlines. CBS News reported the potential plan for the first time on Friday, citing U.S. officials who were familiar with the discussions. Sources said that the U.S. Government could use Title 3 of the Defense Production Act to invest in industrial capacities to ensure supply chains to support national defense. Kush Desai, White House spokesperson, said that the Trump administration is "continuing to explore possible options" in order to keep the airline?in operation' for both...

Canada approved a $4 billion natural-gas?expansion to Enbridge's Westcoast Pipeline System in British Columbia, the company said on Friday. This will increase the network's capacity by about 300 million cubic ft per day. Enbridge says that the Sunrise Expansion program is expected to bring more than $3 billion into Canada's economy. It will also involve hiring 2,500 workers, mostly from indigenous and local communities. The expansion will involve?constructing additional pipeline segments along with the existing system?,?additional natural gas compression capability and?upgrades to existing facilities. The?company's shares rose by 1.5% this morning. Enbridge's Westcoast Natural Gas Pipeline System stretches 2,900 km...

Two sources said on Thursday that President Donald Trump plans to nominate a business executive with extensive experience in government contracts as the head of the Transportation Security Administration. Trump is planning to hire?David Cummins. He oversees Serco North America's federal, state and local government customer portfolio. Trump had proposed earlier this month to privatize much of the TSA operations and cut nearly 10,000 workers. Trump has not nominated anyone to replace David Pekoske as TSA head since his first day of office in 2025. Pekoske was nominated by Trump during his first term and Joe Biden, the former president,...

Siemens Energy raised its forecast for 2026 on Thursday after a rise in orders and profits in the second quarter. The company joined peers in benefiting a surge of demand for data centers that require power equipment supplied by Siemens Energy. Siemens Energy cited "positive business developments" and strong market demand to increase its sales forecast from 11-13%. It also increased the profit margin for special items from 9-11% to 10-12%. The surge in demand for grid components and gas turbines, fuelled by energy hungry?data centres has also seen U.S. competitor GE Vernova increase its annual'revenue and profit estimates' on...

Utility PG&E Corporation beat Wall Street expectations for first-quarter profits?on?Thursday, due to higher rates for 'its services and robust power demand. In premarket trading, shares of the company rose 2.4%. AI-driven 'data centers' and the broader electrification in homes and businesses will push U.S. energy demand to record levels by 2026. This will support new customer connections, and data center project in PG&E service area. According to LSEG, the S&P Utilities Index gained 7.5% during the first quarter. This is its best start since?the first three months of 2019. The optimism surrounding firms?building AI-infrastructure was largely responsible for this. PG&E's...

MOL, the oil group of Hungary, announced 'on Wednesday' that the Ukrainian operator of the Druzhba Pipeline has officially informed MOL that he is prepared to resume crude oil transports from Ukraine to Hungary and Slovakia. Hungary and Slovakia are no longer receiving Russian oil via Druzhba after a Russian drone attack damaged the pipeline west Ukraine. The Slovak and incoming?Hungarian prime ministers, Viktor Orban (who was ousted from office in elections on April 12) have accused Ukraine of delaying repairs. Kyiv denies this. Ukraine will resume pumping through the Druzhba Pipeline?on Tuesday?, according to an industry source. President Volodymyr...

Investors weighed the outlook for U.S. peace talks with Iran after?the U.S. Extension of the ceasefire. Brent crude futures fell 21 cents or 0.2% to $98.27 per barrel at 0039 GMT after reaching $99.38 in the previous session. West Texas Intermediate futures dropped 28 cents or 0.3% to $89.39 after reaching as high as $90.71. On Tuesday, both benchmark contracts increased by about 3%. U.S. president Donald Trump announced that he would extend the ceasefire indefinitely with Iran, just hours before it expires, so as to allow for talks to continue and end a conflict that has claimed thousands of...

According to industry sources, Russia managed to maintain crude oil loadings in its western ports at the same level as March despite 'ongoing drone attacks. Drone attacks on ports and pipelines in the Baltic Sea and Black Sea ports in late March or early April slowed down crude oil loadings, but not overall. The estimated exports and transit shipments in April of Urals, Siberian Light, and KEBCO crudes from?the port of Primorsk?, Ust-Luga?, and Novorossiysk?, including carryovers from the initial schedule for March?and top-ups?, is around 2.2 millions barrels per day. The data from the market showed that this figure...

Brandenburg said that up to 80% of crude supplies for 'Germany's PCK Schwedt refining plant are guaranteed in May. Germany is seeking alternatives to replace lost supplies following Russia's announcement to stop deliveries via the Druzhba pipeline on May 1. Dietmar W. Woidke, the state premier, said on Wednesday that "PCK's capability utilisation is stable. Crude oil supplies are secured up to 80% by May.?And jobs are protected." Woidke said that the situation allowed him to be optimistic about the future. He added that German officials worked with partners to find a solution for the refinery which supplies parts of...

The Moldovan parliament has voted to lift the energy'state of emergency' from Saturday. This was 'imposed' after Russian 'attacks' in neighbouring Ukraine knocked down a powerline that provided most of Moldova's electricity needs. Officials in Moldova have stated that the Russians attacked in March, putting out of action the Isaccea - Vulcanesti power line. This line carries electricity?from Romania into Moldova, passing 40 km (25 miles) through Ukrainian territory. This line is responsible for up to 70% of Moldova's electrical needs. The 101-member chamber of deputies voted 69 times in favor of lifting the emergency measure. The declaration of an...

Early on Friday, Russian diplomats denounced 'latest European Union Sanctions' imposed on Moscow for its invasion of Ukraine. They said the newest measures were 'unlawful and lacked U.N. The new measures lacked legitimacy and violated the rights of a third country. Russian news agencies reported that diplomats from Russia's European Union mission said the?measures are meaningless without a U.N. Security Council decision. The statement was quoted by TASS, a state news agency. All others are unilateral coercive actions, and in essence -- arbitrariness or aggression which is contrary to international law and U.N. Charter. Charter." RIA News Agency said that...

According to calculations and source data, tanker freight rates for the shipment of Urals crude oil from Russia's western ports to India firmed up this week due a?recovering?demand, as port loadings slowly re-invigorate after drone attacks. Sources said that freight costs for Urals cargoes transported from the Baltic port of Primorsk to India by Aframax tankers with 100,000 tons are currently at $18 million, compared to $16 million for a one-way trip in mid-April. Transport costs of Urals shipments from the Black Sea port Novorossiisk in India via Suezmax tankers with a capacity of?about 140,000 tons per voyage have firmed...

According to economists and government officials, Kyiv could need additional money this year to meet its military needs. Ukraine's budget projects a huge deficit of 1.9 trillion hryvnias (43 billion dollars) by 2026, which is around a fifth of its economic output. However, economists claim that this figure significantly underestimates the costs of the?war against Russia. Maksym Samoiliuk, an economist at Kyiv's Centre for Economic Strategy (a?think tank), said that military spending will be assessed more realistically now that the delayed loan has been approved. This is because factors like a pay increase for military personnel expected this summer can...

Officials said that Russian oil began flowing through the Ukrainian portion of the Druzhba Pipeline on Wednesday, after a halt which lasted months. This allowed Hungary to lift its veto over a 90 billion euro ($105.79billion) EU loan, which Kyiv urgently needs. Since a Russian drone attack damaged the Druzhba pipe in western Ukraine, and stopped Russian oil delivery to Hungary and Slovakia, the Druzhba has become one the most political pieces of infrastructure across Europe. The Hungarian oil company MOL announced on Wednesday that Ukraine informed them that Russian crude deliveries had resumed via the pipeline. MOL said that...

After Hungary lifted its veto on Wednesday, EU ambassadors approved the disbursement a?90 billion euro ($106billion) loan to Ukraine, as well as a?new?package? of sanctions against Russia. A spokesperson for the Cypriot Presidency said that the 27 EU member states will now be expected to approve the deal on Thursday afternoon. Last year, the EU approved a loan that would keep Ukraine solvent through 2026 or 2027. Hungary refused to approve the loan because Viktor Orban, the Prime Minister of Hungary and a Russia-friendly politician, accused Ukraine of sabotaging Russian oil transit through a pipeline that was damaged by Russian...

In recent months, Ukraine has intensified its attacks on Russian energy installations as the peace talks failed to progress. Here is a brief summary of the recent attacks and their impact. Two industry sources have confirmed that Rosneft’s Syzran refinery, owned by Rosneft, has suspended oil refining following drone attacks on 18 April which damaged processing equipment. The Syzran refinery can process around 170,000 barrels of oil per day, or 8.5 million tons per annum. According to industry sources, it processed 4.3 millions tons of crude oil in 2024 and produced 800,000 tonnes of gasoline, 1,5 million?tons diesel, and 700,000...

Germany's economy ministry said on Wednesday that it has been informed by the country's oil company that no crude oil from Kazakhstan will be able to reach the PCK Schwedt Refinery in the northeastern part of the country after May. It added that the production and sale of petroleum products would not be affected. On Tuesday, three industry sources told us that Russia will stop oil exports from Kazakhstan via the Druzhba Pipeline starting May 1. This would affect PCK directly as it is one of Germany's largest refineries and also supplies Berlin. The Ministry, which controls Schwedt through a?trusteeship,...

The 'energy minister' of Kazakhstan said that no Kazakh oil would be flowing via the 'Russian Druzhba Pipeline' to Germany in 'May'. He said this disruption was likely caused by Ukrainian drone attacks. Erlan Akkenzhenov, Minister of Erlan's Erlan, said that Russia has informally informed Kazakhstan that they do not have the technical capability to ship Kazakh oil into Germany and that exports will resume "once the capacity is restored." He didn't provide any more specific details. He said that the transit of Kazakh oil would resume as soon as the technical feasibility issue was resolved. Most likely, it is...

Robert Fico, the Prime Minister, said that Slovakia would file a lawsuit against the European Union in "the coming days" to challenge its decision to ban Russian Gas Imports. The EU's decision was adopted by a?"qualified?majority". Fico, who criticized the way in which the regulation was adopted, said that the suit would be filed at the EU Court of Justice. A majority of countries voted to ban Russian 'gas imports by the end of 2027. This allowed the EU to override the opposition from Slovakia and Hungary earlier this year when they voted to approve the measure. Fico stated that...