Europe

India has removed licensing requirements for radio frequency used in crash-avoidance systems and self-driving cars. This removes a commercial barrier to automakers, as the country seeks safer roads. India, which is the third-largest car market in the world, has reported over 177,000 road deaths in 2024. The government announced on Thursday that it would waive the licence requirements for radar sensor in the frequency range 77GHz-81GHz, allowing businesses to use spectrum without a separate allocation from authorities. Separate notices were issued for systems operating in the 5.9 GHz range, which allow vehicles to 'communicate' with one another and with roadside...

Police said that seven people died and two were injured in western Hungary on Friday morning when a minibus with nine passengers crashed into a truck which was idling due to an accident on the M1 road. The accident near Gyor, which is 122 km from Budapest, was a follow-up to an earlier incident in the same area, in which a construction vehicle collided with truck, resulting in one death and a traffic jam. In a post on Facebook, the Hungarian Premier Peter Magyar stated that the victims are foreigners. He said, "I extend my heartfelt condolences to the families."...

Maersk, Vale and other shippers are using ethanol to reduce emissions. Its low cost and abundant supply make it more appealing than other fuels with lower carbon content. Further commercial use is expected to begin as soon as next year. The use of ethanol in shipping can open up a new market for the fuel which is in some countries blended with gasoline. It also offers'shipowners' another way to reduce conventional fuel consumption to meet emission targets. The global shipping industry is under increasing pressure to manage the uncertainty of oil prices as the hostilities in Middle East and the...

Maersk, Vale and other shippers are using ethanol to reduce emissions. Its abundant supply and low cost make it more appealing than other fuels with lower carbon content. Further commercial use is expected to begin as soon as next year. The use of ethanol for shipping could 'open up a new market for the fuel which is?in certain countries blended with gasoline. It also offers shipowners a way to reduce conventional fuel use in order to meet emissions reduction targets. The global shipping industry is under increasing pressure to manage the uncertainty of oil prices as the hostilities in Middle...

On Thursday, two time penalties for pitlane speeds that cost Pierre Gasly the podium at last weekend's Monaco Grand Prix were being reviewed after it was revealed Formula One made a measurement error. In a statement made at the Barcelona-Catalunya grand prix, the Stewards stated that the Frenchman’s Renault-owned Alpine Team was able to submit a petition for review in both cases. A second hearing could be held. The stewards also accepted that there were significant new elements that they did not have at the time the decisions were made last Sunday. Alpine argued that the stewards were not aware...

The Alpine Formula One Team has overcome the first hurdle in a review of the Monaco Grand Prix pit-lane speeding penalties which cost Pierre Gasly his podium place. Stewards said in a statement the petitions for review were admissible and that they accepted that there was an important and new element which was not available to them when the decisions were made last Sunday. The virtual hearing moved on to the second stage of the event ahead of the "Barcelona-Catalunya Grand Prix". Renault-owned Alpine argued that the stewards were not aware of the 'issue' with the timing loops on the...

According to industry sources, Russia's seaborne product exports dropped by 0.2% daily in May compared to April. This equates to a drop of?8.016 millions metric tons. While the 'continued Ukrainian drone attacks on key ports and major refineries led to a sharp decline in oil product loadings at Russia's southern port, this was offset by an increase in fuel exports from Baltic terminals. Kyiv intensified its attacks on Russian energy installations in the last few months as peace talks to end Ukraine's conflict failed to progress. In May, drones targeted a number of Russia's largest refineries, including Lukoil's NORSI refinery...

Saudi Arabia and its neighbours in the Gulf will celebrate the eventual reopening of Strait of Hormuz. But the ensuing oil flood could erode OPEC’s fragile grip on the markets. The Iran War and the closing of the vital waterway, through which nearly one fifth of world oil and gas passed before the conflict, have dramatically reduced the output of the Organization of Petroleum Exporting Countries and shifted the industry's center of gravity away. Riyadh has limited options to counter these changes. The strait is not expected to reopen anytime soon, and it's unclear what the conditions will be. Iran...

The Ukrainian Ports Authority reported on Wednesday that two vessels flying the Panamanian and Barbadian flags had been damaged by an attack while they were moving along Ukraine's Black Sea navigation corridor. According to the authority's Telegram post, one vessel is headed towards the port of Odesa - a vital port for Ukrainian exports - with a cargo?of metal while the other was carrying grain and had already left the port. Both vessels were operating in the navigation corridor set up by Ukrainian authorities to allow ships travel from the 'Black Sea' to Romanian ports along the 'Danube River. Oleh...

Officials from the maritime industry said that two crew members are missing and another is injured after a suspected U.S. missile strike on a fuel tanker near Oman's coast. Ambrey believes that the 'blockade of Iranian ports by U.S. Ambrey, a British maritime security organization, said that the blockade of Iranian ports was likely to be responsible. In the past, crews were warned to gather at the bow of the vessel before an attack. Another maritime security source said that the ship was also likely to have been?hit by a U.S. rocket. The United Kingdom's Maritime Trade Operations agency reported...

Kyiv announced?on? Wednesday that Ukrainian forces had struck "several" key facilities in the Russian-occupied port of Mariupol. This attack has "significantly reduced" its ability to be a vital logistics hub for Moscow’s war effort. According to Ukraine's Drone Forces, the port had no power after strikes on its energy management and infrastructure. They said that they had "carried out" the operation in conjunction with the 1st Azov Corps, and the SBU security service. The statement said that the port had been 'used by the enemy for military logistic, as well illegal exports of Ukrainian grain and coal to Russia. "The...

UAC, Ukraine's biggest farmers' union, said that Russian attacks on Ukraine’s Black Sea ports had already caused "serious" damage to the export terminals and threatened a significant?reduction in shipments. This includes key agricultural exports. The hub of Odesa is the main port for exports of Ukraine, including iron ore. In recent months, Russia increased its attacks on port infrastructure. It has targeted?grain termini as well as storage and export facilities for sunflower oil. Ukraine's agricultural products are dominated by grain?and vegetable oils. "The situation in ports around Odesa has reached a critical level." UAC stated that systematic Russian shelling was...

The Channel Tunnel's owner announced on Friday that it would "challenge" the British government by all means possible after its business rates had tripled in the past three years, resulting in a decision to no longer invest in the UK. Eurotunnel, owned by Getlink of Paris which operates car and lorry trains through the tunnel between England & France. * Yann Leriche, CEO of the FT, told them that they are facing a rise from PS40million a yearly to PS118million a yearly increase in their rateable value. * In a press release, the company stated that it had "no justification"...

The British tax authority won an appeal on Friday?in a dispute with Estonian 'ride-hailing' and food delivery company Bolt. This ruling could impact Uber's case, which is worth more than PS1 billion ($1.3billion). Bolt argued that in its PS190million dispute with HM Revenue and Customs, it was liable to charge a 20% value added tax on its'margin' rather than the total fare charged by customers. The London Court of Appeal, however, ruled in HMRC’s favor and overturned two lower tribunal decisions. Bolt was told by the court that it could not use a tax system originally intended for tour operators...

Budapest's chief prosecutor’s office announced on Thursday that Hungarian prosecutors had ordered a police investigation into certain transactions relating to shares of oil company MOL in order to determine if they had violated the rules on insider trade. The police investigation follows a February probe by the??National Bank of Hungary into the sales of MOL stock by company officials following the January 27 suspension of crude oil shipments via the Druzhba Pipeline to Hungary. The shipments resumed only in late April. In an email?reply, prosecutors stated that "based upon current data, circumstances of relevant share?sales cannot be clarified without an...

The DiXi Group, a think tank, predicts that Ukraine's energy system, which has been under constant Russian assault, will face power shortages in the summer months, and consumers may be affected by outages, despite the strong output of solar power plants and the imports. Russia has been attacking Ukraine's energy generation and transmission system throughout the war. This has caused severe damage to thermal power plants, forcing Kyiv to import more and to resort to massive power cuts for consumers. DiXi stated in a press release that, under moderate temperatures and with no further damage done to the energy grid,...

TASS reported?on?Tuesday, citing the regional ministry of emergency, that three?explosions?hit a gas pipe in 'the town 'of 'Kizilyurt, in Russia’s Dagestan Region in the North Caucasus. However, emergency crews managed to control the resulting blaze. Three explosions were reported by the?ministry on a trunk 1,200 mm gas pipeline. No injuries have been reported. TASS?quoted?officials in the?region who said that emergency crews brought under control flames which had risen 15 metres (50 feet). It said that grassy areas were burning near the explosion site. Russian news agencies reported that residents who were ordered to evacuate from 300 homes are now returning....

According to a draft document that was seen on Tuesday, the German government wants to "make Germany a leading hub" for sustainable, safe, and competitive aviation. This will be achieved through a 15-year plan which includes cutting costs, increasing research, and accelerating the use of cleaner fuels. Wednesday the German cabinet will approve the aviation strategy, which outlines short- and mid-term plans for civil and military aviation. The aim is to give greater planning certainty to policymakers, companies, military personnel and the general public. The strategy is based on four pillars, including economic competitiveness and technological 'competitiveness. The aim is...

Three trading sources have confirmed that the Caspian Pipeline Consortium plans to export 1.7 million barrels of CPC Blend crude per day in June, compared with an initial estimate of 1.45 million barrels. They said that maintenance at Kazakhstan's Kashagan field was postponed, and production at Tengiz, the country's oilfield, has been restored following a technical problem in May, which resulted in the higher forecast. The initial June plan was revised upwards by 17%. According to calculations, the?May?loading plan was expected to reach a multi-month peak. Calculations show that the May loading plan would reach a multi-month high of 1.8...

Statnett, the Norwegian grid operator, announced on Monday that one of four transmission cables connecting Norway and Denmark will be out of service for three months for repairs. This will reduce available capacity by 245 MW. Statnett released a statement that the Skagerrak cable has not been in operation since 2 June. The fault is now located 'around 30 kilometers (18.6 mile) off the coasts of Denmark. The report added that there were no traces of anchors, or any other activity on seabed in the last few years which could have caused the damage. In recent years, the Nordic and...

Market sources say that Russia will reduce its crude exports in June as it plans to increase refinery runs amid looming fuel shortages. According to preliminary information from industry and trading sources, crude loadings at the western?ports Primorsk (Ust-Luga) and Novorossiysk (Novorossiysk) could drop to 1.7 million barrels per day in June, down from 2.5 millions bpd. Sources said that the decline could be partially due to a decrease in oil production levels. Alexander Novak, the Deputy Prime Minister, said that the Russian oil production had fallen since the beginning of the year. He blamed the drop on unplanned maintenance...

The?U.S. The?U.S. According to a FAA notice, the ground stop was from 9:53 pm to 11:15 pm PDT (0435 - 0615 GMT on Monday). The ban was lifted a little before the end. The airport didn't immediately respond to our request for a comment. According to the airport's website, more than 54 million passengers will travel through SFO by 2025. The airport is home to many airlines, including United Airlines. It also offers many international flights from and to Asia. The FAA announced in March that it would be imposing new safety restrictions on SFO. These would restrict?some landings, and...

The Economy Ministry announced that the Argentine government had recommended awarding an important?dredging contract in Argentina to Belgian dredging firm Jan De Nul, and its local partner Servimagnus. Rep. Brian Mast, chairman of the U.S. House Foreign Affairs Committee, warned in May about the "malign influence" of China in the bid to win the major contract for Argentina. Jan De Nul, and its local partner Servimagnus, denied any Chinese ties. * The recommendation is for the concession to dredge the Parana River and maintain it, as this river carries 80%?of?the trade of the country. In a late-Thursday statement, the ministry...

On Thursday, President Vladimir Putin stated that Russia is ready to resume supplies of gas to 'Germany through the 'Nord Stream Pipeline which was heavily damaged by underwater explosions. Putin told reporters in St. Petersburg one of two lines of Nord Stream 2 was intact and could begin pumping gas "tomorrow." "I am not joking, just press the?button to start the gas flowing." "But for that, the German government must make a decision," he said. Putin did say that Nord Stream is under U.S. Sanctions and Germany would need to come up with an agreement in order to remove them....