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Air India is looking for a new CEO to replace Campbell Wilson.
Air India is looking for a new CEO to replace Campbell Wilson. Two?sources? familiar with this matter said that the airline was still under intense scrutiny following a fatal crash in June. Air India's crash in June, which killed 260, has prompted a greater scrutiny of the airline. Regulators have flagged lapses that range from not checking emergency equipment to delays in replacing engine parts and crew fatigue. Wilson became Air India's CEO and managing Director in July 2022 after a career of 26 years at Singapore Airlines. He held various senior roles across the flagship carrier as well as its wholly-owned low-cost subsidiary Scoot. Wilson's tenure at Air India will end?in 2027. The Tata Group, Singapore Airlines' Air India and Wilson have not responded to requests for comment. (Reporting and writing by Aditya?Group and Abhijith?Ganapavaram; editing by Mrigank?Dhaniwala).
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Officials say that the attack on Berlin's power grid was caused by "extreme leftists".
Officials said that a fire in southwest Berlin, which has left tens?thousands without electricity in the German capital, was likely the result of an?extremist attack on the far-left. The grid company Stromnetz Berlin reported on Saturday that up to 45,000 homes could be without electricity until January 8 due to the suspected arson. It said that efforts were still being made to restore power, and around 35,000 homes and 1,900 commercial entities are still affected. Local media reported a letter purporting to be?from an activist group of the far-left called the Volcano Group? that claimed responsibility for the incident and said its actions were directed towards the fossil fuel based energy industries. Iris Sprenger, Berlin's Minister of Interior Affairs, wrote on x that "the letter claiming to be responsible has been classified by the security agencies as authentic." "I strongly condemn this inhumane attack against Berliners and tourists to Berlin." The investigation continues." A?suspected?arson attack on two?pylons in Berlin left 50,000 homes without electricity in September. Local media compared this to Volcano Group’s high-profile attack in 2024 on Tesla's gigafactory at Gruenheide. (Reporting and editing by Christina Fincher.)
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Sources say that Venezuela's PDVSA has asked some joint ventures for a reduction in oil production.
Three sources familiar with the decision told reporters that Venezuela's PDVSA, the state-owned oil company, is asking joint ventures to reduce crude production due to an "export paralysis". This will add pressure to an interim government struggling to hold on to power. These include?shutting down oilfields and well clusters, as the stocks onshore increase. The company also runs out of diluents needed to mix Venezuela's heavy crude before shipping. Caracas is currently in a political crisis, under an interim government. This comes after U.S. troops rescued President Nicolas Maduro on Saturday. Oil exports from the OPEC nation, which are its'main source of income, have come to a halt following a U.S. sanctions-imposed blockade of tankers and the seizure of 2 oil cargoes in December. Chevron cargoes heading to the U.S. were an exception. They continued to move?because Washington has granted the company a license for its operations. Shipping data on Sunday showed that since Thursday, all of these have stopped. President Donald Trump announced on Saturday that an "oil boycott" was in force on Venezuela as part of the announcement of Maduro’s detention, and the U.S. overseeing the transition. Sources said that PDVSA asked joint ventures such as Petrolera Sinovensa of China National Petroleum Corporation (CNPC), Petropiar from Chevron, and Petroboscan, Petromonagas and Petroboscan to reduce production. Petromangas is now solely operated by PDVSA. Previously, it was jointly run by PDVSA, Roszarubezhneft and the Chinese National Petroleum Corporation (CNPC). PDVSA and CNPC didn't immediately respond to requests for comment. Chevron stated on Sunday that it continues to operate in "full compliance with all relevant laws, regulations and standards," without giving any details. One source said that workers at Sinovensa were preparing to disconnect up to ten well clusters on Sunday due to a PDVSA demand after "an excess accumulation of extra-heavy crude and diluents". The person said that the wells can be quickly reconnected if necessary in the future. Chevron, on the other hand, hasn't cut back yet, as it still has plenty of room to store products, especially at Petropiar. Tankers are also still loading. Although its vessels haven't left the country in recent days, and storage capacity at Petroboscan is limited, it could still lead to cuts. Delcy Rodriguez (now Venezuela's interim President), Venezuela's former oil minister, stated last month that the country will continue to produce and export oil despite U.S. sanctions.
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Officials say that at least 25 people are dead and 14 others missing after a boating accident in Nigeria.
Officials said that at least 25 people were killed and 14 more are still missing after a boat capsized with dozens of passengers in Yobe State, north-eastern Nigeria. Accident?occurred? just before 8 pm local time on Saturday, 1900 GMT, when the large canoe that had left Adiyani in northwestern Jigawa State overturned while en route from Garbi to Yobe State. According to Mohammed Goje of the Yobe State Emergency Management Agency, the vessel carried 52 passengers. "So far, 13 passengers were rescued alive while 25 bodies were recovered. Goje stated that search and rescue operations were ongoing for the 14 missing people. He added that local volunteers, security agencies and emergency teams had been present at the scene. The police in the state of?Jigawa confirmed the incident, and stated that the canoe capsized because it was leaking. It was a day of trading and the victims were heading home. "If the driver survives, then he will face criminal charges for negligence," Lawan Adam, a spokesperson for the state police, said. He noted that safety laws prohibiting night trips and overloading had been ignored. Babagana Shettima is a resident of Adiyani and said that the casualties came from his village as well as Yobe. "When the boat's arrival was late, relatives raised alarm. Later, it was discovered that the canoe?capsized half way. Divers recovered a few bodies," he said to?. In Nigeria, boating accidents can be deadly. Many vessels operate without safety precautions. In September, 60 people were killed when a boat that was overloaded sank in central Nigeria after colliding with a stump of a tree.
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Radio frequency failures cause flight cancellations in Greece, leaving thousands stranded
Flights in Greece were grounded Sunday after a 'collapse of radio frequency crippled the air traffic communication. This left thousands of travellers stranded and brought airport operations to an end. The cause of the disruption was not clear. It began early on Sunday morning and rapidly escalated. The civil aviation authority of Greece said that some overflights in Greek and regional airspace are still being serviced. However, airport operations have been restricted for safety purposes. Dozens were affected. Panagiotis Psarros of the Association of Greek Air Traffic Controllers told ERT that "for some reason, all frequencies were suddenly gone.. we couldn't communicate with aircraft in flight." He stated that the problem appeared to be the 'collapse of the central radio frequency systems? at the Athens-Macedonia area control system, the largest aircontrol facility in the nation based in Athens. It monitors Athens Flight Information Region - a vast area of airspace controlled by Greek authorities. Flight tracking showed that the Greek airspace is largely empty. ERT reported that airport 'arrivals and departs' were suspended at 9 a.m. (0700 GMT) local time, reporting from a departures hall at Athens Eleftherios Venizelos Airport?crowded with travelers. "We've not been told the cause of the problem... the equipment we have is almost ancient." Psarros stated that they had raised the issue many times before. An official from the Transport Ministry told us that some aircraft headed north or east were allowed to depart. An official reported that more than 75 flights had been delayed. A spokesperson for the Israel Airports Authority said that Greek airspace was closed until 4:00 pm local time (1400 GMT). The spokesperson warned travellers to expect delays on arrivals and departures. (Reporting and editing by Hugh Lawson, Ros Russell and Hugh Lawson; Additional reporting in Israel by Steven Scheer and Renee Maltezou;
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President says Serbia's NIS Refinery will be operational on Jan. 17 or 18.
Aleksandar Vucic, President of Serbia, said that the Russian-owned NIS refinery in Serbia, sanctioned by the United States, would be operational as early as 'January 17 or 18, after it received a temporary license. The Office of Foreign Assets Control of the U.S. Treasury Department granted NIS on Wednesday a temporary operating license until January 23. This will allow it to resume its production after a 36 day?break. The US has given NIS - which owns Serbia’s only oil refinery - until 24 March to negotiate the sale of its Russian shareholders' stake. Vucic, speaking to reporters in Belgrade, said: "I expect the first 85,000 tonnes of crude oil to be delivered by January 15th... and that 'the refinery will start operating on either January 17th or 18th... and that 'we can begin producing oil derivatives as early as January 25th and 26th." Gazprom, the Russian oil company, owns 11.3% of NIS while its sanctioned oil subsidiary Gazprom Neft (SIBN.MM), holds 44.9%. The Serbian Government holds 29.9% of the shares, while small shareholders and employees hold the rest. The Serbian government has said that it supports the ongoing talks between NIS and its?Russian owners, MOL. After granting several waivers since the start of last year, the US sanctioned NIS in October as part of wider measures against Russia's Energy Sector. The sanctions had halted the crude supply via Croatia's JANAF pipeline (JANF.ZA), shutting down the NIS refinery located in Pancevo, a northern town. This week, JANAF announced that it also received a license allowing it export crude oil to NIS. (Reporting and editing by Hugh Lawson, Christina Fincher and Aleksandar Vaovic)
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Overnight, Bergamo Airport in Italy halted flights leaving thousands stranded
Due to technical problems with the landing guidance system, and poor visibility at Bergamo Orio-al-Serio airport in Italy, flights were halted on Saturday evening. This left thousands of passengers stranded over night. SACBO, which operates the airport, stated in a press release that the technical issue was resolved around midnight. However, a warning posted on the website of the 'airport' warned "flights could be delayed or canceled". Local media reported that the incident led to 26 flights being cancelled, 6 being diverted to other airports, and 7 being rescheduled for Sunday. Images show people sleeping on the ground and luggage check-in belts. The Bergamo edition of the Corriere della sera?daily?online said that first flights had been halted around 1700 GMT?Saturday. The airport's website showed real-time information on flights, including a list of many Ryanair flights that were delayed. However, several had departed as early as Sunday morning. A 0605 GMT Ryanair flight from Cagliari was delayed until 0850 GMT and a 0620 GMT Neos Flight to Sharm-el-Sheikh was delayed until 0855 GMT. (Reporting and editing by Elaine Hardcastle; Reporting by Valentina Z.)
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US airlines cancel flights following Caribbean airspace closure
Major U.S. Airlines canceled hundreds?of flights on Saturday following a military action in Venezuela which resulted in the capture of President Nicolas Maduro. American Airlines, Delta Airlines, Spirit Airlines, and JetBlue Airways all cancelled flights on Saturday in accordance with the Federal Aviation Administration's Caribbean airspace closures. In a letter to airmen, the FAA said that it had closed the airspace for U.S. carriers due to "risks to flight safety associated with ongoing military activity." According to the notice, this closure does not apply to non-U.S. carriers and operators. The FAA refused to comment on this further. Sean Duffy, the U.S. Transportation secretary, said on X in a blog post that "when appropriate" airspace restrictions will be lifted. Customers affected by the closure of the airspace were able to change their flight dates and avoid change fees. JetBlue Airways announced in an advisory that it would waive cancellation fees and fare difference for customers travelling from Saturday, January 3 to Sunday, January 4 2026. Donald Trump, the president of the United States, said that on Saturday night, the 'United States' attacked Venezuela, capturing its long-serving leader Nicolas Maduro, and promised to take control of Venezuela for now, including by using U.S. troops if needed. Air Canada has said that its operations in the Caribbean and South America continue "normally" as per Transport Canada's instructions. The airline stated that it would continue to closely monitor the situation and provide updates if necessary. FlightRadar24 flight records indicate that commercial air traffic in Venezuelan airspace stopped after the attack. Reporting by Dan Catchpole, Seattle; Preetika Parshuraman, Bengaluru. Editing by Chris Reese.
Maguire: A refresher on Russia’s commodities clout before Trump talks
The talks between U.S. president Donald Trump and Russian president Vladimir Putin could be the beginning of Russia's return to the world stage, and the return of its commodities after Moscow was recently isolated internationally.
Before its invasion of Ukraine, in 2022 Russia was the leading exporter and supplier of energy products into Europe. This included crude oil, natural gases, coal, aluminum, nickel, and steel. The sanctions imposed by the West on Moscow in 2022 have caused a major disruption of these commodity flows. Russia's gas exports through pipelines fell by half, and its oil shipments were diverted to new markets.
Here is a breakdown on where Russia stands in terms of production and exports for some of the most traded commodities around the world. This will give you an idea of potential market impact should relations with Russia resume to normal.
GAS CRUNCH
The fallout from Russia's invasion in Ukraine has had the greatest impact on natural gas.
Russia, the second largest gas exporter and producer in the world, has seen its outbound shipments severely cut after sanctions were imposed by Europe and the United States on Moscow in 2022.
Many European nations, including Germany, had secured the majority of their gas supply from Russia. However, they quickly reduced imports by pipeline in an effort to punish Moscow for starting war in the area.
The volume of Russian gas exported via pipeline fell by 38% from the previous year in 2022, and by 30% from 2022 as European buyers replaced those lost gas supplies with imported LNG and other fuels.
Data from the Energy Institute show that in 2024, Russia will export 108.2 billion cubic metres of pipelines, which is 46% less than 201.3 billion cubic metres exported in the year 2021.
In an effort to compensate for the revenue lost from gas pipelines, Russia increased exports of natural gas liquefied.
The Russian LNG export volume has risen by around 12% in the last 12 months and reached a record high of 44,3 billion cubic meters in 2024.
The lack of pipeline connections to other regions led to an increase in Russian gas inventories in 2022. This in turn led to increased gas consumption by industry and power companies and ongoing efforts to improve LNG export capability.
In 2023, the Russian industry cut production in response to a collapse in the export market. Since then, production has risen to 630 billion cubic meters in 2024.
CRUDE DIVERSIONS
Russians are the third largest crude oil producers and exporters in the world. This has had a major impact on the crude oil market.
The Russian crude oil market has also been hit by a decline in production and exports since 2022. However, exports are down more than the production due to increased domestic stocks.
Energy Institute data show that in 2024 the Russian crude oil production was estimated to be 10.75 million barrels per day, down by 4% from 11.2 million bpd produced in 2022.
In 2024, Russian oil exports totaled just over 7,000,000 bpd. This is a drop of 8% compared to the 7,6,000,000 bpd exported by 2022.
The Russian crude oil trade also saw a significant shift in its destinations as traders had to find new homes for their barrels.
Exporters had to find new markets for their oil, just as they did with gas. India, a country that has been a strong supporter of Russian oil traders in the past, is now stepping up its purchases as Europe reduces its oil imports.
Kpler's commodities intelligence firm shows that India's imports from Russia of crude oil have more than doubled between 2022 and the year 2024. They went from 321 millions barrels to 651,000,000 barrels.
Europe's imports from Russia of crude oil dropped 30% between 2022 and 2024. India became the largest market for Russian crude in 2013.
China, the second largest Russian crude oil purchaser, bought 460 millions barrels in 2024. This is an increase of 17% over 2022.
COAL, METALS & MUCH MORE
The war between Russia and Ukraine has also affected the coal markets, since Russia is the world's sixth largest coal producer. It is also the third largest coal exporter.
Due to a large fleet of coal-fired plants in Russia, the production of coal has remained largely constant since 2022. Local power companies have been using additional supplies previously exported.
The total coal production in Russia is expected to be down around 2.3% by 2024 compared to 2022, and exports are down almost 10%.
The competition between Indonesian coal and other producers has squeezed Russian coal off of several international markets. China and India, the two largest coal consumers, have also reduced their demand for coal imports.
The Russian Federation is also the world's leading exporter and producer of key metals such as aluminium, cobalt, nickel and palladium. These are in high demand across a wide range of industrial and technical applications.
Russia is a major producer of diamonds, industrial gases, wheat, barley and other crops. Any rapid resumption of trade between Moscow and international communities will have far-reaching consequences.
Any further deterioration of relations with Moscow after the upcoming meetings could keep Russia's abundant commodities out-of-reach for many buyers. This would result in tightening global markets.
These are the opinions of the columnist, an author for.
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(source: Reuters)