Latest News
-
Moscow, Beijing discuss Russian oil exports boost
Alexander Novak, the Russian deputy prime minister, said that Moscow and Beijing had been discussing ways of expanding Russian oil exports into China. Since the beginning of Russia's military operation in Ukraine, in February 2022, China and India are the two largest buyers of Russian crude oil. China imports approximately 1.4 million barrels per day of Russian crude oil via sea, and about 900,000. bpd by pipeline. The United States introduced sanctions last month against Russia's largest oil producers Rosneft, and Lukoil. Russian President Vladimir Putin denounced the sanctions, calling them unfriendly and saying that they wouldn't have a significant impact on the Russian economy. He also emphasized the importance of Russia to the global marketplace. Russia's crude oil exports to China and India have remained relatively stable despite conflicting reports. Novak said at a SinoRussian Business Forum in Beijing that Russia and Chinese partners have been discussing the possibility of increasing oil exports to China. He said that intergovernmental agreements allow for the extension of oil supply terms for China via Kazakhstan by 10 years, until 2033. Mark Heinrich (Reporting)
-
Autoridad aeronautica de Venezuela pide aerolineas internacionales reanudar vuelos en 48 horas: IATA
Nov 24 - El Instituto Nacional de Aeronautica Civil (INAC) de Venezuela informo a las aerolineas internacionales que deben reanudar sus vuelos al pais en un plazo de 48 horas, o se arriesgan a perder sus derechos para volar para el pais sudamericano, dijo el lunes la Asociacion de Transporte Aereo Internacional (IATA). Varias aerolineas internacionales han cancelado sus vuelos desde Venezuela en los ultimos dias despues de que la Administracion Federal de Aviacion (FAA) de Estados Unidos advirtiera el viernes a las principales aerolineas sobre una "situacion potencialmente peligrosa" al sobrevolar el pais. "Esta decision reducira aun mas la conectividad hacia el pais, que ya es uno de los menos conectados de la region", dijo IATA, que representa a unas 350 aerolineas. El ministerio de Comunicacion e Informacion no respondio a un pedido de comentarios. no pudo contactar de inmediato a la autoridad aeronautica venezolana. EEUU mantiene desde septiembre un vasto despliegue militar en aguas del Caribe, bajo el argumento que lucha contra el trafico de drogas, pero que Venezuela sostiene es para lograr un cambio de Gobierno. En los ultimos meses, se ha producido un aumento masivo de la presencia militar estadounidense en la region, que incluye el portaaviones mas grande de la Armada, al menos otros ocho buques de guerra y aviones F-35. IATA dijo que mantiene el compromiso de restablecer las operaciones hacia y desde Venezuela "tan pronto como las condiciones lo permitan" y reitero su disposicion a mantener canales abiertos de comunicacion con las autoridades venezolanas, a fin de coordinar acciones que garanticen la seguridad, la conectividad y la proteccion de los derechos de los pasajeros, en estricto cumplimiento de la normativa vigente de seguridad. Mas temprano el lunes, la aerolinea espanola Air Europa anuncio la suspension de sus cinco vuelos semanales entre Madrid y Caracas "hasta que las condiciones lo permitan" para su reanudacion. La aerolinea Plus Ultra tambien suspendio la misma ruta, segun informaron medios espanoles. Durante el fin de semana, Iberia, la aerolinea espanola propiedad de IAG, anuncio la suspension de sus vuelos a Venezuela, sumandose a otras aerolineas como la brasilena Gol, la colombiana Avianca y TAP Air Portugal. Un portavoz de Iberia indico el lunes que la suspension se extenderia al menos hasta el 1 de diciembre, mientras que Gol anuncio la cancelacion de sus vuelos a Caracas del martes y miercoles. Turkish Airlines cancelo sus vuelos previstos hacia Venezuela entre el 24 y el 28 de noviembre. El viernes, la FAA estadounidense advirtio sobre el "deterioro de la situacion de seguridad y el aumento de la actividad militar en Venezuela o sus alrededores" y senalo que las amenazas podrian representar riesgos para las aeronaves a cualquier altitud. (Redaccion )
-
IATA: Venezuela orders international airlines restart flights
The International Air Transport Association (IATA), a trade association, reported that Venezuela's aviation institute had told international airlines to resume flights into the country in 48 hours. Otherwise they risked losing their permission to fly to Venezuela. Several international carriers have canceled flights leaving Venezuela after the U.S. Federal Aviation Administration issued a warning to major airlines about a "potentially dangerous situation" while flying over Venezuela. IATA, the organization that represents about 350 airlines, has criticized Venezuelan authorities for their decision, saying it "will further decrease connectivity in the country, already one of the most under-connected countries in the region." The Venezuelan Information Ministry did not respond immediately to a comment request. The national aviation institute could not be reached for a comment immediately. Air Europa, a Spanish carrier, announced earlier on Monday that it would suspend its five weekly flights from Madrid to Caracas until "conditions allow" their resumement. Spanish media reported that Airline Plus Ultra had also suspended flights on the same route. IAG's Spanish carrier Iberia announced over the weekend that it would suspend its Venezuelan flights, joining other carriers such as Brazil's Gol and Colombia's Avianca. Iberia's spokesperson announced on Monday that the suspension will last until at least 1 December, while Gol cancelled its flights to Caracas for Tuesday and Wednesday. Turkish Airlines has canceled all flights until Friday. The U.S. FAA issued a warning last Friday about "the worsening security situation" and the increased military activity around Venezuela. It said that the threats could be dangerous for aircraft of all altitudes. In recent months there has been an enormous American military buildup, including the largest aircraft carrier of the U.S. Navy, as well as at least eight warships and F-35s. (Reporting and editing by Stephen Coates; Reporting by the newsroom)
-
The Olympic Pipeline shut down affects the fuel supply of airlines
BP's Olympic Pipeline System remained offline Monday while the oil giant, along with local and state authorities, continued to investigate what caused the leak in Everett Washington. Major airlines are implementing contingency plans in order to reduce the impact of flight cancellations during Thanksgiving travel. First reported on 11 November, the fuel leak was discovered. BP reopened one of two pipelines that were shut east of Everett to investigate the cause of the product leak. Shortly after the line was restored, it was shut down once again to stop refined product deliveries. Over 200 feet of pipe have been excavated so far. Crews will continue operations overnight tonight, BP stated in an emailed message on Monday. The company has not yet determined a timeline for restarting this pipeline. It is also assessing the amount of product that has leaked. The Olympic Pipeline System, a 400-mile pipeline system that runs from Washington's northern border to Oregon, transports refined petroleum products such as gasoline and diesel. Washington Governor Bob Ferguson declared a state of emergency last week following the shutdown of a pipeline that has caused a disruption in jet fuel supply to Seattle-Tacoma International Airport. A spokesperson stated that the operations at Sea-Tac were not affected by major disruptions, as airlines have implemented contingency plans. We encourage passengers to contact their airline about their flight. CONTINGENCY PLAN Alaska Airlines and Delta Air Lines, two major airlines, have developed plans to reduce the impact on flights during Thanksgiving week. Delta said it had added fuel stops on a number outbound long-haul domestic flights and transported additional fuel by tanker truck into Sea-Tac in order to supplement the fuel reserves. Alaska Airlines has added fuel stops to approximately 12 flights a day and increased its trucking operation to bring extra fuel. We continue to minimize the impact of the Olympic Pipeline leak. Alaska Airlines issued a statement saying that they did not expect any disruptions to their operations at Seattle-Tacoma International Airport during the Thanksgiving Travel Week. (Reporting and editing by David Gregorio, New York)
-
Bendigo and Adelaide Bank investigation finds money laundering and terrorism financing controls lacking
The lender stated on Tuesday that it had found deficiencies in its anti-money-laundering and counter-terrorism-financing controls, which affected key areas of the risk management framework. These problems extended beyond just one branch. Deloitte conducted an investigation into suspicious activities that could indicate money laundering in one of the branch's of the bank. Deloitte found that the bank had not adequately identified, mitigated and managed money laundering and terrorist financing risks. The branch review assessed systemic issues and the nature and extent of the issues that were present at the branch. Bendigo and Adelaide Bank's board said it was "very disappointed with the findings" and committed to improving its systems, processes and frames to meet its obligations as per Australia's Anti-Money Laundering and Counter-Terrorism Financing Act 2006 After identifying the problem and notifying AUSTRAC, the financial intelligence agency of Australia and the law enforcement agencies in the country about it, the bank engaged Deloitte to assist them.
-
Brazil's fiscal woes could worsen in 2026 as a result of Correios.
Dario Durigan, the acting finance minister of Brazil, said that Correios' "very poor" results have affected the budget planning by the government for this year. The situation could get worse in 2026. "We would have liked to be in a better situation, but we must deal with what is before us." "The situation in Correios is very bad today," he said at a press briefing. In its latest revenue and expenditure report published late Friday, the government increased its projected deficit in state-owned enterprises by 3.7 billion reals ($686.66 millions). It cited "primarily the impact of Correios revised budget plans." The government can deduct a portion of the investment costs from the deficit calculation of state-owned companies. The government was forced to cut other expenses to comply with budget laws due to the worsening results of Correios. Durigan stated that the government awaits Correios restructuring plan due to the "serious and structural" problems the company faces. He warned this could have a greater fiscal impact by 2026. He said that the government was not talking about a direct injection of capital, but rather an operation supported by Treasury for Correios. He did not go into detail.
-
The Olympic Pipeline shut down affects the fuel supply of airlines
BP's Olympic Pipeline System remained offline Monday while the oil giant, along with local and state authorities, continued to investigate what caused the leak in Everett Washington. Major airlines are implementing contingency plans in order to reduce the impact of flight cancellations during Thanksgiving travel. First reported on 11 November, the fuel leak was discovered. BP reopened one of two pipelines that were shut east of Everett to investigate the cause of some product leakage. Shortly after the line was restored, it was shut down once again to stop refined product deliveries. Over 200 feet of pipe have been excavated so far. Crews will continue operations overnight tonight, BP stated in a Monday e-mail. The company has not yet determined a timeline for reopening the pipeline. It is also assessing the amount of product that has leaked. The Olympic Pipeline System, a 400-mile pipeline system that runs from Washington's northern border to Oregon, transports refined petroleum products such as gasoline and diesel. Washington Governor Bob Ferguson declared a state of emergency last week following the shutdown of a pipeline that has caused a disruption in jet fuel supply to Seattle-Tacoma International Airport. A spokesperson stated that the operations at Sea-Tac were not affected by major disruptions, as airlines have implemented contingency plans. We encourage passengers to contact their airline about their flight. CONTINGENCY PLAN Alaska Airlines and Delta Air Lines, two major airlines, have developed plans to reduce the impact on flights during Thanksgiving week. Delta said it had added fuel stops on a number outbound long-haul domestic flights and transported additional fuel by tanker truck into Sea-Tac in order to supplement the fuel reserves. Alaska Airlines has added fuel stops to approximately 12 flights per day and increased its trucking operation to bring extra fuel. We continue to minimize the impact of the Olympic Pipeline leak. Alaska Airlines issued a statement saying that they did not expect any disruptions to their operations at Seattle-Tacoma International Airport during the Thanksgiving Travel Week. (Reporting and editing by David Gregorio, New York)
-
Ecopetrol, Colombia's gas company, warns about possible shortages on roadblocks in communities
Ecopetrol, the state-owned energy company of Colombia, warned on Monday that a roadblock in its Guajira gas field could threaten natural gas supplies to the northern and central regions of the country. Ecopetrol said that the roadblock which began three weeks ago could lead to the halt of production at the site which produces 70 million cubic feet per day. Ecopetrol stated that the situation had recently escalated and "put at risk the integrity of the 26 remaining workers on site." Ecopetrol reported that the Carrapinapule Community, behind roadblocks in the area, has made demands to the State, including for potable water, school transport, and education. Colombia faces a shortage of natural gas, which has led to an increase in imports to meet the domestic demand. According to the National Hydrocarbons Agency, commercialized natural gas production fell by more than 10% from September to 814 millions cubic feet per day.
In Novorossiysk, four people were injured by Ukrainian drones after they damaged dwellings.
Regional officials reported early Tuesday that Ukrainian drones had damaged and injured four people during successive attacks in the Black Sea port city of Novorossiysk.
According to the Operational Headquarters of southern Krasnodar region, five high-rise buildings and two private residences were damaged in different districts in the city.
Emergency services are putting out fires caused by falling debris from drones.
Four people have been reported as injured.
Fragments from drones that had crashed earlier damaged windows and buildings in Krasnodar - the administrative hub of the region. In a village to the south of Novorossiysk, drones damaged buildings and inflicted injury on one person.
The Russian defence ministry reported that Russian air defences shot down 10 drones on their way to Moscow a day before a Ukrainian attack on a power station cut off the heating in a city near the capital. (Reporting and Editing by Himani Sakar)
(source: Reuters)