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The blockade on tankers ordered by Trump could put at risk the rising Russian naphtha imports to Venezuela
Market sources say that the U.S. president Donald Trump has ordered a ban on?all sanctioned tankers' entering and exiting Venezuela. Washington announced its latest move on Tuesday to increase pressure on Nicolas Maduro’s government through the imposition of a blockade. Venezuela uses naphtha as a diluting agent for its heavy crude oil to make it easier to transport. In July, it began importing naphtha in Russia after U.S. sanctioned cut off supplies to its former American suppliers. Due to the fact that Russia is using sanctioned ships to deliver its naphtha to Venezuela, traders have warned these vessels could be redirected elsewhere in search of new buyers. The Benin-flagged Boltaris tanker, which had around 32,000 metric tonnes of Russian naphtha destined for Venezuela, redirected late last week to Europe, without completing its discharge, according to LSEG data. Since the European Union embargo against Russian oil products went into effect in February 2023, Russia has exported the majority of its naphtha. India, Taiwan, and Brazil are among the top buyers of naphtha, mainly for blending into gasoline. After the U.S. imposed sanctions related to Ukraine on Russia's biggest oil companies last October and pressured India to cut Russian oil imports to a minimum, the number of Russian ports that loaded naphtha to asia dropped by 15% to 800,000 tonnes, according to LSEG data and market sources. Contrariwise, shipments into Latin America increased. According to?data, the number of naphtha exports from Russian ports into Venezuela increased in November, jumping to 190,000. metric tons, up from 35,000 tons the previous month. Several tankers remain on the road, and some of these cargoes are already discharged. According to December shipping data, at least 100,000 tonnes of Russian naphtha were destined for Venezuela.
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Ukrainian grain exports reduced by Russian attacks, says union
The Ukrainian farmers' union UAC reported on Wednesday that some grain export terminals were closed due to the recent Russian attacks on Black Sea ports, energy facilities and other infrastructure. Ukraine is one of the world's largest wheat exporters, exporting about 70% its harvest via Black Sea ports. Ukraine's exports are dominated by food. Russia increased its attacks on the southern Odesa port hub this month. One of the attacks left about a thousand households without electricity. UAC reported in its weekly report on Wednesday that Ukraine exported 359 150 metric tons (measured by weight) of wheat at the end of December, out of a total of 1 million tonnes contracted to be exported for the month. The union stated that certain export?terminals had ceased operations, and the port was operating at only 20% of its capacity. UAC stated that "we see that?for the second consecutive week, one of the Central Ports has been unable start up and function normally." "Traders don't know what to do." The port is a dangerous place to store grain, and the logistics aren't working well - there are frequent?power outages and constant interruptions with locomotives." Ukrzaliznytsia, the Ukrainian state railway, said that Russia attacked the port Pivdennyi and the rail infrastructure which delivers cargo to this?port. Barva Invest, an analyst firm, said that Ukraine's export terminals have reduced their grain intake due to Russian?attacks. Last week, Ukraine's Economy Ministry said that wheat exports in 2025/26 have fallen to 7.5?million tonnes so far compared with 9.2?million tonne for the same time period the previous year. The ministry said that Ukraine will not restrict its wheat exports for 2025/26 due to a large harvest at the start of the season and low export rates. (Reporting and editing by David Goodman)
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Norway's electricity grid operators are asked to improve their sabotage readiness
The Norwegian energy regulator NVE proposed on Wednesday new rules that would govern the 'preparedness' of grid companies in the event of an act of sabotage. This was in response to a heightened threat level as notified by security agencies. The Norwegian security agencies warned that the war in Ukraine, and increased geopolitical tensions, pose a greater threat of sabotage to Norway. NVE stated that a recent study had revealed that the current regime for repairing Norwegian electricity infrastructure was primarily designed to deal with storms and technical problems, rather than'simultaneous attacks on power infrastructure. Kjetil Lind, Director General of NVE, said that Norway would "stop working" in a short period of time if the power system stopped working. Grid companies must therefore update their plans to deal with such events. Lund explained that "grid companies need to have crews and spare parts to be able to restore the necessary functions, and to withstand simultaneous and serious incidents in time." NVE has now sent a consultation document to companies that will increase costs. The average household would pay $300 (29.40) per year in grid fees. "The cost increase must be weighed against its benefit, which is improved public safety. Lund stated that the insurance premium was worth it. (1 dollar = 10.2046 Norwegian crowns). (Reporting and editing by Nora Buli)
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Maguire: Japan's fossil-fuel power output falls again as nuclear production rises.
Japan, one of the largest importers of oil, coal and gas, has reduced fossil fuel electricity production to its lowest level in more than a decade by 2025. This is largely due to a continuing recovery in nuclear energy output. The?fleet? of Japan's nuclear reactors generated the most electricity in 2012 since the?a?tsunami caused a meltdown of the Fukushima nuclear power plant, which led to a shutdown of many of the country's reactors. Japan's nuclear recovery has provided utilities with the most clean energy since 2010. It also allowed power companies to reduce the use of gas fired power plants to its lowest level in at least six year. In 2026, Japan's energy shift away from fossil fuels is likely to accelerate as it restarts Kashiwazaki - Kariwa's world's biggest nuclear reactor and adds additional renewable energy production capacity. The steady decline of fossil fuel production in such an important economy will be a source of concern for natural gas exporters. They will have to find other buyers for any extra gas they intend to sell in 2026 or beyond. CLEAN?MOMENTUM Japan's electricity production system has increased output by a large amount from clean energy sources in 2025. Ember data shows that from January to October, the generation of bioenergy plants, solar and wind farms, and nuclear reactors?all increased at least 10% in comparison to the same month in 2024. Bioenergy and solar energy sources registered their highest-ever share of total utility electric supplies at 7% and 14%, respectively. Nuclear reactors produced over 10% of the total utility electrical supply for the first since 2011. The total amount of clean electricity produced during the first ten months of 2025 reached 326.3 terawatt-hours (TWh), an increase by 9% from the same period in 2024, and the highest output for a full year since 2010. NUCLEAR DRIVE The growth in clean energy supply seen over the past few years has been driven by Japan's steady return of its nuclear reactor fleet. Japan's authorities have gradually restarted the reactors after the shutdown of all 54 reactors. The generation has risen from less than 5 TWh to 78TWh by 2025. Japan has restarted fourteen of the 33 reactors still operational in the country. It plans to reboot two reactors at the Kashiwazaki Kariwa nuclear power station over the next few months. As Japan's new prime minister Sanae Takaichi pledged during her election campaign to increase local electricity supply, reduce electricity costs, and reduce fossil fuel imports, it is expected that more nuclear power will be restarted. In 2024, Japan spent 10.7 trillion Japanese yen (68 billion dollars) on imported coal and liquefied gas. This was a tenth its total import cost. Imports are expected to fall as the country's nuclear power and clean energy assets continue their growth. As Japan's imports decline, gas and coal exporters will suffer. However, as utilities increase electricity production from nuclear reactors, and reduce output from plants which burn imported natural gas, Japan's energy supplies should become cleaner and more affordable. These are the opinions of the columnist, an author for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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The construction of the Russia-China Far Eastern Gas Route is progressing, says China's ambassador to Russia
Zhang 'Hanhui', Beijing's embassy to Moscow, told Russia's RIA News Agency that construction is proceeding on a planned Far Eastern pipeline to'supply Russian gas to China'. The Far Eastern route is designed to send gas from Russia's Pacific coast to ?China via a new branch link connected to Russia's ?Sakhalin-Khabarovsk-Vladivostok pipeline system. Exports will begin?in 2027. China is expected to import 2 billion cubic metres (bcm), initially, and then a total of 12 bcm per year. Zhang, RIA cited as saying that "Construction is progressing steadily on the Far Eastern route of natural gas supply from Russia to China." Russia currently supplies pipeline gas to China through the Power of Siberia Pipeline, which began deliveries in 2019. It has a design capacity of 38 bcm per year. Energy is the driving force behind Moscow's efforts to deepen its ties with Beijing after Western sanctions over Russia’s invasion of Ukraine in 2022 accelerated a pivot away from Europe. China increased purchases of Russian crude oil and expanded gas cooperation. (Reporting and editing by Saad sayeed in Melbourne, Lidia Kelly from Melbourne)
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Senator says FAA chief failed to sell Republic shares as per ethics agreement.
According to a public letter published on Tuesday, the head of the Federal Aviation Administration said he hadn't divested his shares in Republic Airways. However, he would continue not to be involved with any issues that might impact the airline’s finances while he worked to sell his holdings. Last week, Democratic U.S. Senator Maria Cantwell stated that Bryan Bedford, former CEO of Republic and FAA Administrator, had violated his ethics agreement because he hadn't completed the sale of shares within 90 days after his confirmation. Bedford informed Cantwell, in a Monday letter, that he was recused from any matters affecting Republic's financial interest and that he was selling the shares as soon as "reasonably practicable". Bedford held Republic stock worth between $6 million and 30 million dollars at the time of confirmation. Republic completed its merger with Mesa Air Group on November 25. In an email sent to the Office of Government Ethics on December 5, a Transportation Department lawyer stated that Bedford was unable complete the sale due to "significant demands" made upon his time. The Office of Government Ethics (OGE) responded on the same day, stating that they had stated in early October that being busy with his position did not constitute an "unusual hardship" and that others had been denied similar requests. Cantwell's Office said that its review of documents indicated Bedford didn't appear to have divested until early December. Even if Bedford received the 60-day extensions he requested on October 7, he still should have divested by December 6. But he did not do this. Cantwell's Office said Bedford stated that he had to wait until Republic share certificates were issued before he could divest. However, "that doesn't explain why he didn't divest within the original timeline agreed upon - which was?before merger closed. The FAA declined comment. Bedford declined to comment on the matter earlier on Tuesday, when asked. He said he would discuss it at a Senate Commerce Committee Hearing on Wednesday. The Republican Senator Ted Cruz did not respond immediately to a comment request. (Reporting and editing by Jamie Freed in Washington, David Shepardson)
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FAA chief claims he still hasn't sold his shares in Republic Airways
According to a public letter published on Tuesday, the head of the Federal Aviation Administration stated that he had not divested shares in Republic Airlines but would "continue" to recuse himself from any issues which could affect the airline's financial health. Last week, U.S. Senator Maria Cantwell stated that FAA Administrator Bryan Bedford who was previously CEO of Republic had violated his ethics agreement because he hadn't completed the sale of shares, despite having agreed to do so within 90 days after his confirmation. Bedford informed Cantwell that he was recused from any matter which had a direct impact on Republic's interests and was working hard to sell the shares as soon as it would be reasonable. Bedford held stock in Republic worth between $6 and $30 million at the time of his confirmation. On November 25, Republic completed the merger with Mesa Air Group. Cantwell's Office said that its review of documents indicated that Bedford did not appear have taken any action to divest itself from Republic until the beginning of December. (Reporting and editing by Jamie Freed in Washington, David Shepardson is Washington.
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US Air Force buys two additional 747-8s to support the Presidential Fleet
The U.S. Air Force announced on Tuesday that it would be acquiring two Boeing 747-8 jumbo aircraft for $400 million in order to create a 'training and maintenance program' for its future fleet of presidential airlifters. The Air Force stated that the purchase is part of its efforts to speed up the Presidential Airlift Program as it prepares for the transition from the older 747-200 model to the larger and newer 747-8, according to a press release. The first aircraft should arrive by the end of 2026. Air Force officials said that the purchase was necessary because Boeing no longer produced the 747-8i and the aircraft differed from the 747200 currently in the presidential fleet. Officials said the two planes would be used to train crews and as a source for spare parts. In several published reports, it was suggested that the Air Force would be buying the planes directly from Lufthansa. This was one of the only passenger airlines who had purchased the 747-8, which was popular among cargo carriers, before Boeing ceased production in 2023. A spokesperson for Lufthansa declined to comment. This purchase is not related to the two 747-8i that Boeing is?currently modifying as part of the VC-25B Program, which will be the next-generation Air Force One. Air Force officials said that the first heavily?modified plane is expected to arrive in mid-2028. A?official of the Air Force, speaking in the background, stated that the two aircraft used for training were distinct from the 747-8i aircraft donated to the United States by Qatar. Air Force One has been hampered by delays and cost increases since Boeing signed a $3.9billion fixed-price contract for two modified '747-8s in 2018. The aircraft will replace the existing fleet. The Air Force announced on Friday that the first Air Force One jet from Boeing would be delayed another year, to mid-2028. (Reporting and editing by Nia Freed and Jamie Freed in Washington)
Delhi limits vehicles and office attendance to curb pollution
The authorities in India's capital Delhi took strict measures to combat?pollution on Wednesday. These included a ban on cars that did not meet the latest emission control standards and regulations governing attendance at private and government offices.
The AQI (air quality index) for Delhi, which is home to over 30 million people, was in the'severe category' in recent days and often exceeded the 450 mark. The visibility was also affected by shallow fog that covered parts of the city.
The Commission for Air Quality Management invoked the fourth stage, which is the highest level of?the Graded Response Action Plan for Delhi & Surrounding Areas on Saturday.
The curbs prohibit the entry of older diesel trucks in the city. They suspend construction including public projects and mandate hybrid schools.
Kapil Mishra announced Wednesday that 50% of the employees in all government and private offices will be working from home.
Mishra, at a Delhi press conference, said that all construction workers registered, including many who earn daily wages, would receive compensation of 10000 rupees ($110).
The government imposed strict anti-pollution standards on Tuesday for vehicles in the city. Vehicles that do not meet the latest emission control standard are banned.
Our government is committed to providing clean air in Delhi. Manjinder Singh Sirsa, Delhi's Environment minister, said late Tuesday that the government would take "strict steps" to achieve this goal in the upcoming days.
Winter pollution is a problem for 'Delhi' and its suburbs. Cold, dense air traps pollutants from vehicles, construction sites, and burning crops in neighbouring states. The resultant levels of pollution are among the highest anywhere in the world, exposing residents to respiratory problems.
A thick layer of smog covers the area that is home to over 30 million people. The AQI reaches high levels, reaching 450. A reading below 50 is considered good. Reporting by Tanvi mehta and Editing by Raju goplakrishnan. $1 = 90.3180 Indian Rupees.
(source: Reuters)