Europe

According to data from tanker monitoring and documents of the state-run PDVSA energy company, Venezuelan oil exports dropped slightly last month?to 1.24 million barrels per daily from 1.24 bpd in may?as a result of two deadly quakes causing?minor delay at terminals operated. The vast PDVSA infrastructure was mostly unaffected by the twin earthquakes, which left nearly 2,000 dead and hundreds of buildings damaged according to official statistics. The power issue must be resolved before all the oil refineries, including El 'Palito, can resume operation. Documents show that the main oil terminal for the state-owned company in the eastern part of...

The finance ministry announced that Uganda had'signed a EUR110.5m ($126.1m)?agreement? with the local unit of international lender?"Standard Chartered? to help finance the building of a new road in the northeastern region of the country. In a late-night post on X, the Ministry said that a new 115.8 km road would help "reduce transportation costs" and strengthen regional trade. * The road will be built in Karamoja in northeastern Uganda, near the Kenyan border. In recent years, the area has attracted a rush in investor interest because of its vast mineral potential. The Ministry said that the road would 'also support...

Here are some of the main factors that could affect Swiss stocks on Tuesday: COMPANY STATEMENTS MSC?GROUP Adani Ports and Special Economic Zone in India announced on Tuesday that Switzerland’s MSC Group would acquire a 49% stake in the Vizhinjam Port for $1.4 billion. This, it claimed, was the largest private foreign investment in port infrastructure in India. ECONOMY *June Swiss KOF indicator is due at 0700 GMT. *Swiss May Official Reserves Assets due at 0700 GMT. (Reporting by Zurich newsroom and Gdansk newsroom) |1|For Top News ?in a multimedia Web format on Eikon visit: ?https://bit.ly/2NDFd6g FOR RELATED PRICES, NEWS...

India's Adani?and Special Economic Zone announced?on Tuesday?that switzerland's msc?group will acquire a 49 percent stake in its Vizhinjam?port for $1.4 billion. It said that this is the largest foreign private investment made in domestic port infrastructure. MSC, world's largest container ship?company will invest through its Terminal Investment unit. Adani Ports The partnership is expected to boost cargo volumes and accelerate ramp up at the Kerala based port. Adani Ports said that the investment was part of their strategy to deepen partnerships with global port operators in order to 'drive traffic and accelerate capacity ramp-ups at Vizhinjam. This is one of...

The Federal Aviation Administration has opened an investigation into a JetBlue flight that reported hitting a drone as it approached New York's John F. Kennedy International Airport. The FAA reported that the pilot of an Airbus A321, departing from Las Vegas at the time, reported the incident while the aircraft was on final approach. According to the U.S. regulator, the incident occurred around 7:15 am EDT. The airline reported that the flight landed safely, passengers deplaned as usual, and that the plane had been withdrawn from service after a post-flight check, during which no evidence of damage or collision was...

The Federal Aviation Administration announced that it had?launched a probe after JetBlue reported a JetBlue plane?hitting an unmanned aerial vehicle while approaching New York's John F. Kennedy International Airport in New York on Monday. The FAA reported that the pilot of an Airbus A321, departing from Las Vegas at the time, had reported the incident while the plane was on final approach. According to the agency, the incident occurred around 7:15 am EDT. The airline reported that the flight landed without incident and customers deplaned as normal. A post-flight check found no evidence of damage or a collision. The Port...

Former head of Italy's State Railway Company, 72 years old, has begun a 5-year prison term for a derailment in 2009 that killed 32 people. This case highlights the issue of managerial liability and the slow pace of Italian justice. Mauro Mauretti was CEO of Ferrovie dello Stato when a train carrying goods came off its track as it passed Viareggio station in Tuscany. The cargo of liquefied gases exploded and caused a massive fire to spread throughout the station. Moretti received a seven-year prison sentence in 2017 after a long initial trial. Moretti did not serve his sentence because...

The prices of Caspian crude oil grades such as Kazakhstan's CPC Blend and Azerbaijan Azeri BTC are falling despite the growing pressure on European barrels, traders said. The difference between Caspian crude oil and Brent has weakened in line with the global trend. As Gulf oil supplies increase, physical cargoes in many regions are now at discounts to Brent. Iran is expected to boost sales after a temporary easing of U.S. sanction. On Wednesday, oil prices fell further, continuing the declines that began earlier in the week. They are now hovering at four-month lows as more tankers, which have been...

The company's Press Office announced on Wednesday that Exxon's oil refinery in the 'Belgian Port' of Antwerp will stop production from June 29 until July 3, due to a striking action. ABVV Petroleum union stated on its website that workers at the refinery oppose a plan of cutting 35 jobs from a total of 735. According to the union, staff are also protesting about their deteriorating conditions of work and fewer options for early retirement despite ExxonMobil making higher profits because fuel prices have risen. The union stated that the job cuts were part of a wider reorganization, which will...

The?High Court of London ruled that Britain's approval for Gatwick Airport expansion was legal. This allows the country's 2nd busiest hub to proceed with its plan to add millions more passengers by 2030. Last year, the government approved the?opening? of a?second runway? at Gatwick Airport, located 30 miles (48km) south-east of London. However, two environmental groups brought a lawsuit over noise and air pollution. Both the Gatwick Area Conservation Campaign and Communities Against Gatwick Noise and Emissions said that they would appeal Tuesday's decision. GOVERNMENT HAS BACKED NEW RUNWAY The government said that the increased use of sustainable aviation fuel...

The grain freight rates in Ukraine are down despite the 'ongoing Russian attacks' on Black Sea ports, ASAP Agri said on Monday. They cited a seasonal decline in cargo flow. Last week, officials and industry executives told? Last week, industry executives and officials told? The Ukrainian Navy said Monday that a Russian drone?hit a Turkish dry cargo vessel, causing an extensive fire on board. Ukraine is a major grain exporter in the world, and its Black Sea port handles more than 90% of its exports. ASAP Agri stated that as Ukraine closes its 2025/26 summer-july export season, the historically low...

The Ukrainian economy ministry announced over the weekend that it would be increasing rail freight tariffs by 30% on August 1st to help stabilize the financial position of the state railway Ukrzaliznytsia. The war against Russia is now in its fifth and final year. Railways are still a crucial part of Ukraine's logistic network, transporting both passengers and freight. The government is under pressure to reduce its debt because of increased spending on infrastructure and security. Ukrzaliznytsia's CEO Oleksandr P. Pertsovskyi said?this month the firm had to increase their tariffs this year by at least 45% in order to help...

In a speech to the European Commission in Baku, Ursula von der Leyen, President of the European Commission, said that up to EUR200m ($228m) would be provided as grant funding for boosting transport, energy, and digital links across 'the South Caucasus. Von der Leyen met with Azerbaijani president?Ilham Alyeev along with EU Enlargement commissioner Marta Kos. She said the initiative was intended to support peace between Azerbaijan and Armenia through strengthening regional connectivity and providing targeted assistance to local communities. Armenia and Azerbaijan have been at war for nearly four decades, over the mountainous region Nagorno Karabakh. They reached a...

German federal prosecutors 'have filed charges against a Ukrainian citizen over 'the Nord Stream pipeline explosions, ARD, Sueddeutsche... and Zeit,?German media outlets reported on Wednesday. Federal prosecutors declined comment. The explosion of the Nord Stream gas pipelines that carried Russian gas into Europe was a major flashpoint between Moscow and 'the West. It came just months after Russia invaded Ukraine in February 2022. According to ARD, prosecutors accuse a Ukrainian national known as Serhii K - according to German privacy laws - of 'attacks on civil energy infrastructure, causing explosions and destroying structures. The suspect was detained in Italy's Rimini...

Alexei Likhachev, the CEO of Rosatom, said that fuel shortages had prompted a rise in demand for electric vehicles. He predicted that this would lead more drivers to choose battery-powered cars. Fuel restrictions have been imposed across the country due to intensifying Ukrainian strikes against Russian energy infrastructure. Likhachev, a reporter, said: "We have already seen a significant rise in the use of our electric charging stations." He said that between June 21 and 28 the demand for Rosatom's?over 290 stations of charging rose by 40%. Likhachev said that although the current situation is unlikely to lead to an immediate...

Calculations showed that the average daily natural gas supply to Europe via the TurkStream pipeline fell by 3.7% compared to a year earlier to 36.2 million cubic meters in June. The only remaining transit route for Russian gas into Europe is through Turkey after Ukraine decided not to extend the five-year agreement with Moscow that expired in January 2025. According to calculations based on data from the European Gas Transmission Group Entsog, total Russian gas supplies via TurkStream to Europe were?1.09 billion cu?metres in June 2018, down from 1.13 Bcms in 2025. The half-year supply increased by around 5%, to...

Data from market sources and LSEG show that Russia's seaborne gasoil and diesel exports plummeted in June. They fell by 39% from the month before to 1.8 million metric tonnes and 46% from 3.35 mtonnes in the same month a year ago, as waves of drone strikes forced unplanned shut downs at key refineries. According to traders' calculations and estimates, the number of ultra-low-sulphur Diesel shipments from Primorsk - Russia's largest outlet for diesel exports - has fallen by over half since May. The Russian authorities haven't made a definite decision yet about banning diesel exports. However, traders believe that...

Estonia released images of a Russian-flagged LNG carrier in the Baltic Sea this spring with machine guns and sandbags, indicating a more aggressive stance from Moscow to 'protect its civilian fleet. Surveillance images show machine gun positions fortified on the roof of the Marshal Vasilevskiy civilian vessel, which has its home port in Kaliningrad. Yoruk isik, a geopolitical expert who runs the Bosphorus Observer consulting, described it as "a crazy step" by civilian vessels operating in the Baltic. Isik said that "this is a hostile act by Russia" to send a signal to EU and NATO nations, saying it would...

Three 'trade sources' told us on Wednesday that the price differentials between Russia Urals crude delivered to India in August had?fallen to its lowest level since late February amid a plethora of?supply? and increasing competition. The discount for August Urals cargoes shipped to Indian ports under the DES system had widened from $4 to $7 per barrel compared to the benchmark Brent dated 10 days ago. The price of Russia's flagship grade in India is at its lowest level since the Iran war began, as Middle Eastern producers resume their shipments through the Strait of Hormuz after the interim peace...

Two trading sources reported that the Caspian Pipeline Consortium will 'export around 1.6 million barrels per day of CPC blend crude in July. This is down from the 1.7 million barrels per day planned for June, after drone damage caused a Russian gas plant to reduce production. The Russian Orenburg?gas plant normally receives gas from Kazakhstan's Karachaganak oil and gas condensate fields, which export?oil through the CPC pipeline. Karachaganak had to cut production after the Orenburg gas plant was attacked. Calculations show that daily?CPC blend oil?loadings are expected to decline by 6% from June in July. Karachaganak's production is now...

These are the 'top stories' from selected Canadian newspapers. The?reports?have not been verified and?we cannot vouch for the accuracy of these stories. THE GLOBE AND MAIL Theravance Biopharma, based in Dublin, is being acquired by Vancouver-based Zymeworks for C$1.32 Billion ($927.49 Million) cash. This marks the Canadian company's entry into the respiratory illness treatment market. The deadline for the submission of a proposal to the federal government for consideration is July 1. NATIONAL POST Alberta will unveil its proposal to build a new pipeline that would transport a million barrels of oil per day to the West Coast on Thursday....

Estonia released photos of a Russian flagged liquefied gas carrier with machine guns and sandbags in the Baltic Sea in spring. This indicates a more confrontational approach by Moscow to protect its civilian fleet. Surveillance images show machine gun positions fortified on the?the?bridge roof of a civilian vessel, the Marshal Vasilevskiy. Its home port is Kaliningrad. Yoruk isik, a geopolitical expert who runs the Bosphorus Observer consulting, described it as "a crazy step" by civilian vessels operating in the Baltic. Isik said that "this is a hostile act by Russia" to send a signal to EU and NATO nations, saying...

The Polish grid operator, PSE, has asked power producers to meet their 'capacity obligations' on Tuesday evening in order to increase generation reserves. This is because the country is currently experiencing a heatwave with low wind farm production. This call is a redressal measure that the grid can take when the surplus of?generation capacity above projected demand falls below?the safe level. The PSE call is scheduled for Tuesday, from 6 pm to 9 pm local time (0400 GMT to 700 GMT). Maciej Wapinski, spokesperson for the PSE, said that "the surplus projected of 600 megawatts is not enough to meet...

Oil tankers behave as if the Strait of Hormuz was reopening, even though the waterway is only partially navigable. The signals are clear, from ship tracking data to the freight rates: Owners and charterers have moved early to position their vessels for a possible return to Gulf exports. The gap between expectations and reality is still wide. This leaves the global oil transportation system on a fragile "middle ground" between crisis and recovery. Signs of Recovery Real-time vessel movement is the most obvious?evidence? of adjustment. The number of tanker transits in Hormuz has begun to increase. During the conflict they...