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Avincis, an aerial firefighting company, says that Europe's massive wildfires are straining waterbomber capacities.
Avincis, Europe's leading aerial emergency services company, warns that Europe is not prepared for longer and more severe wildfire seasons. The chief executive of the firm told? Avincis' chief executive told?treffenificaresprache?nemzeug vo Ihre ore the company's CEO John Boag stated that bureaucratic barriers and longer European wildfire seasons have caused regional shortages in both aircraft and experienced pilots. Boag, a helicopter pilot who began his career in Australia's outback herding?cattle in a Bell 47 chopper in 1985, said that "globally, fire seasons have been getting longer. Aircraft are not moving from area to area and it is becoming increasingly difficult to find pilots." Boag's comments, made as a helicopter pilot, who started his career in Australia in 1985 herding cattle in the outback of Australia in a Bell 47, coincide with France and Spain battling historic wildfires following weeks of drought that turned?forests in to major fire hazards. Avincis of Lisbon says that Europe is under pressure in part because extra months spent fighting fires narrows the window to move capacity between hemispheres and leaves gaps in capacity. Boag stated that aircraft are now available from March and April, all the way through October. The problem is made worse by the wet winters, which encourage the growth of tinder-like vegetation. The spread of fire risks further north is also a cause for concern. Boag explained that commercial companies cannot go to the South and make more money during the off-season. PILOT RECRUITMENT HUDLES Avincis operates a fleet of 180 helicopters and 40 fixed-wing aircraft worldwide, including 22 Canadair Waterbombers. Avincis, which uses 47 aircraft in Spain and Portugal to fight fires, has already flown over 5,000 hours this year. This is more than twice the amount of time it flew in 2025. De Havilland Canada, based in Toronto, has sold 22 rugged water-scooping Canadairs to Europe. A new model will be released after a decade of production halt. However, it won't reach its first customer in Greece until 2028. Alternatives are few. Airbus A400M, a military aircraft that dropped 20 tonnes of fire retardant in France to fight the fires. Other companies, such as China's Comac, showcased possible plane variants during the Farnborough 'Airshow' last week. A French startup called HYNAERO is currently in the design phase for an amphibious aircraft that will be ready by 2032. The firefighting process is difficult, as it requires precision low-level flying to combat unpredictable air currents. There is a shortage in experienced pilots and technicians, according to experts. Boag criticized European rules that force?pilots who come from abroad or the military to retake civil aviation exams. Boag stated, "We need to have a way to quickly get people to Europe without bureaucracy." The aerodynamics of a helicopter is the same for the military as it is for the civilian world. The European Union Aviation Safety Agency did not immediately comment on its pilot license rules. (Reporting and editing by Susan Fenton; Tim Hepher, Reporting)
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Ireland's DCC Energy will go private with KKR Energy Capital in a $7.7 billion deal
Irish energy distributor DCC Energy agreed on Monday to a PS5,75 billion ($7.68billion) sale to a U.S. consortium of private equity firms KKR & Energy Capital Partners. This is the second foreign takeover this year of a UK listed company. DCC shareholders can expect to receive PS65.25 in cash per share, a final dividend of 147.22?pence and up to PS1.25 per share if the company sells its Nexora Technology unit for more than $800?million. When asked to explain the reasoning behind the agreement, CEO Donal Murphry said: "We have simplified the group and spent a lot of time on investor relations. But that hasn't translated in?the value private capital will put on our company." The third bid, which was made by the consortium, represents a more than 26% premium to the closing price of the group on April 28, a day before the consortium's initial offer. Investors, including Fidelity shareholder, had been opposed to a takeover. Murphy stated that one of the opposition shareholders, whom he did not name, "sold a very large percentage of their stake for a price lower than what the consortium is offering" and that the board felt confident that investors would support the deal. Alex Wright, portfolio director of Fidelity Special Situations Fund and Fidelity Special Values Fund, stated that the fund continues to oppose this deal and believes DCC remains an attractive long-term investment proposition. By 1403 GMT, shares of DCC had risen 1.2% to PS63.60. LONDON EXODUS CONTINUES Private equity has increased its interest in UK listed companies that trade at low valuations. EasyJet has been in discussions with two firms about a possible sale. Intertek, meanwhile, agreed to be taken private by EQT in June. Angeline Ong is a senior investment analyst with trading platform IG. She said that the UK excels at fostering successful companies but has difficulty in retaining them as domestically-located and owned global firms once they grow or want to grow. LSEG data shows that UK M&A will be largely driven by foreign bids in 2026, with a total of more than $197 'billion. This is the highest figure for a year since records began in 1980. U.S. buyers account for over half of foreign takeovers this year.
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Houthis claim they have targeted Saudi oil exports from the east to west
Yemen's Houthis, who are aligned with Iran, said that they had targeted a number of sensitive sites for supplying and transporting crude oil between eastern Saudi Arabia and the important Red Sea oil export hub Yanbu. Aramco, the Saudi state oil company, did not immediately respond to an inquiry for comment. Yahya?Saree, the Houthi military spokesperson, said that the operation was a response to what he called Saudi drone incursions in Yemeni airspace. Saudi Arabia has rerouted its crude production?to Yanbu through?its east-west pipe to avoid Iranian attacks on shipping along the Strait of Hormuz. These attacks began after the U.S. launched a military campaign against Iran in February. Last week, Iran’s Houthi allies announced a 'blockade' of Saudi Arabia’s oil industry on the Red Sea. This pushed oil prices higher. Saudi Arabia has responded by airstriking what it says are Houthi military facilities in Yemen's Hodeidah Port, saying that it would protect shipping. (Reporting and editing by Michael Georgy and Tomaszjanowski, Sharon Singleton and Eman Abouhassira)
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Brookfield raises 2 billion dollars for Middle East Fund from investors, including Saudi Arabia's PIF
Brookfield, a global investment firm, announced on Monday that it had raised $2 billion in private equity funds from strategic anchor investors including Saudi Arabia’s sovereign wealth fund. The fund will invest in Saudi Arabian companies and other Middle East firms. The Brookfield Middle East Partners fund (BMEP) aims to allocate half of its investments in Saudi Arabia. Brookfield, with a portfolio of?more than 1 trillion dollars, will contribute $500 million. Private equity firms from around the world have increased their investments in the Gulf region in recent years. They are attracted to the proximity of some of the largest sovereign wealth funds in the world and the growing pipeline of regional deals, such as in infrastructure. Bruce Flatt, CEO of Brookfield, said: "We see an opportunity to partner and position businesses in the region for long-term success." He cited "global trust and a strong demand for private equity opportunities in Saudi Arabia". Brookfield is a member of a global consortium of investors that announced a $16 Billion deal on Saturday with Kuwait Petroleum Corporation (KPC). This deal was made to counter concerns about the?impact the Iran War. Our partnership with Brookfield is intended to anchor international private equity in Saudi Arabia and the region. The partnership will accelerate deal 'flow and continue to 'bring world class expertise to the local market ecosystem," said Yazeed Al-Humied. He is deputy governor of PIF and head MENA Investments.
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Source: Kazakhstan's daily crude oil production has been reduced by half after the closure of export terminals
An industry source reported on Monday that Kazakhstan, one of the 10 largest oil producers in the world, had more than halved its daily oil production after drone attacks forced the closure of the main terminal for exporting crude oil into Russia's Black Sea. Kazakhstan's production decline is likely to contribute to global concerns about oil supply due to the Strait of Hormuz being effectively closed and the risks of shipping commodities via other sea routes. This also demonstrates the fact that Russia is the largest country in the world to be landlocked. According to an industry source, the oil and gas condensate output in Kazakhstan dropped by more than half on Sunday compared with June's average levels, dropping from 2,16 million barrels a day to 133,200 tons or 1 million barrels a day. The Kazakhstan energy ministry announced on Monday that the Caspian Pipeline Consortium (CPC), which operates the pipeline, had resumed loading operations after a one-week suspension. More than 80% oil is exported from Kazakhstan through the pipeline, which connects the 'giant Tengiz' oilfield in Kazakhstan to the Black Sea terminal. This country has a number international oil companies, such as ExxonMobil and Chevron. TANKERS BERTHED FOR LOADING According to the ministry, two oil tankers - Seamajesty Milos - were docked at CPC's terminal for loading. The ministry added that both vessels were loading volumes of Tengizchevroil, a U.S. Chevron company. The company did not make any comments on the production cuts. Last week, it said that export restrictions and CPC loadings were the reason for the reduction in output. CPC said that two tankers were berthed on the Black Sea terminal by Monday. It also stated that its pipeline had been back online since 12 :28 pm. Moscow time (0928 GMT). LSEG data shows that the Suezmax Asia, chartered by Chevron, was also at Black Sea Terminal at noon on Monday. Chevron stated that it "continues" to monitor the CPC situation, adding that the safety and security for its personnel remains its highest priority. It declined to comment further. The CPC pipeline is more than 1,500 km long (940 miles), and runs from Kazakhstan’s Tengiz Oilfield in the west of the nation via Russia to the port of Novorossiysk, on the Black Sea coast of Russia. As the four-year-old war continues, Ukraine and Russia are intensifying their counterattacks against vessels and other targets. Drones have attacked several tankers near or at the terminal. Reporting by Louise Heavens; Editing by Emelia Sithole Matarise and Louise Heavens
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Italy prepares measures to keep fuel costs below EUR2 amid fiscal worries
Italian officials and a leading lawmaker announced on Monday that the cabinet would 'adopt new...measures to curb the soaring fuel?prices.' Concerns about fiscal impacts of such measures are growing. The increase in energy prices and consumer costs due to the Middle East war has caused major problems for the Italian Government, which is attempting to balance state finances and protect the purchasing power of households and energy-intensive industries. The government sources said that the cabinet will meet on Monday evening to discuss new measures, focusing on diesel prices. Further action is expected on August 4th. Massimo Garavaglia of the Finance Committee of the Upper House of Parliament, without specifying a timeframe, told journalists in Milan that the "government" would take action to ensure that diesel and gasoline prices remain below EUR2 threshold. "We are now going to make some adjustments to excise duty to ensure that all Italians have a smooth holiday start. "We will then, as always monitor the situation," said he. In March, Italy implemented a temporary reduction in?acquisition duties on diesel and petrol as a response to the energy crisis triggered by Israel-Iran Conflict. The measure was repeatedly extended and then progressively'scaled back' until it ended on July 3 at a cost of nearly EUR2 billion ($2.28 billion) to the taxpayers. The European Commission and IMF both criticised the reduction in excise duties, saying that Italy should have taken more targeted measures, to protect the most vulnerable households. This would have had a less impact on Italy's already stretched budget. In a Monday statement, the industry ministry stated that "the average price for fuel at self-service stations on Italy's road system is EUR1.982 per litre of petrol and EUR2.185 per litre of diesel. This has increased from EUR1.803 on July 3 and EUR1.882 on July 3, respectively." The industry ministry said in a statement on Monday that?the average price of fuel at?self-service stations across Italy's road network is EUR1.982?per litre for petrol and EUR2.185 for diesel, up from EUR1.803 and EUR1.882 respectively on July 3.
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Expand Energy boosts gas marketing with $1.25 billion Twin Eagle Deal
Expand Energy announced on Monday that it would purchase privately-held natural gas'marketer Twin Eagle Holdings' from Five Point Infrastructure for $1.25 billion in order to expand its marketing business across North America. As the demand for natural gas in the United States is expected to increase, producers are expanding their marketing and logistics operations to gain better margins and greater control over where gas ends up. Twin Eagle, founded in 2010, is an independent natural-gas and power marketer. Its operations include wholesale marketing, asset and logistics management, and analytics. The companies stated that after the completion of the deal, it will operate as a fully owned subsidiary of Expand. Key members of the?Twin Eagle management team, such as Chief Executive Jeremy Davis, will remain with the company. Expand expects to generate an additional $750 million in free cash flow per year from its marketing strategy and commercial activities, which is a 50% increase from its prior target. Twin Eagle sells more than 5 billion cubic feet per day of natural gas and manages 44 billion cubic foot of storage space. Together, the two companies would be able to sell about 14 billion cubic feet of gas each day. According to the companies, the combined company will be able to access 90% of the U.S. natural gas market and that of Canada by gaining access?to key demand centres. The deal will close in the third quarter of 2026. Expand intends to finance?the purchase through a combination of cash on-hand and borrowings from its revolving loan facility. (Reporting by Sumit Saha in Bengaluru; Editing by Shinjini Ganguli)
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EU is urged to take action against unexpected duties on parcels of e-commerce
The European Consumer Federation and a prominent EU legislator are urging the European Commission to make sure that online shoppers do not have to pay?unexpected fees to cover a newly introduced customs duty. The EU introduced a EUR3 fee ($3.41) on low-value ecommerce imports which had previously entered the EU duty-free. BEUC, a group of consumer organizations from 31 European nations, believes that consumers should know the price including taxes. The group found that sometimes duties are only displayed late in the checkout or not at all. This can lead to an unanticipated charge. PostNL and La Poste are two European postal providers who say that the recipient may be asked to pay before delivery. Dirk Gotink (the Dutch lawmaker in charge of the customs files in the European Parliament) complained to EU Trade Commissioner Maros Sefcovic via a letter on July 7th, saying that platforms should be responsible for payments. Gotink stated that consumers should not be charged unexpected fees upon delivery, or as a condition for delivery. BEUC said that in some cases, postal operators charge substantial administrative fees. The BEUC plans to survey consumers over the next few months to gather a complete picture. According to a spokesperson for the European Commission, businesses are legally responsible for customs duties and they should not be collected by consumers. The European Commission said it was closely monitoring the situation. AliExpress and Temu?, two Chinese ecommerce platforms, include customs duty at the checkout. In AliExpress' case it is called an estimate. Shein doesn't, but says it pays all applicable duties. Prices are adjusted accordingly. Some Shein deliveries come from EU warehouses which are not subject to duty. The duty was imposed to limit what the EU called unfair competition by online retailers and a rise in e-commerce parcels up to 5,8 billion in 2025. Rotate, a Dutch aviation consulting firm, says that direct China to Europe cargoer capacity dropped 18% within 48 hours of the duty taking effect. This then moderated to 14% in the first week. Belgium and Hungary, two major entry points for imports via e-commerce, saw steeper drops, while the capacity at London Stansted Airport in non-EU Britain increased by 25%.
Defense companies sign agreements at NATO Industry Forum
Defence companies from NATO member states gathered in Ankara for an industry forum that was held along with the annual summit of the alliance.
Here are some of the recent deals that have been announced:
SAAB Swedish defence company Saab announced that NATO would begin formal negotiations to acquire up to 10 GlobalEye early warning and control aircraft.
Micael J. Johansson, CEO of the company, told reporters that the company would begin deliveries by 2030 and the final cost per aircraft would be between $400 - $450 million.
LOCKHEED MARTIN RHEINMETALL Lockheed Martin signed a Memorandum of Understanding with?Rheinmetall on Tuesday for the production of ATACMS in Germany. This would be the first time the missile was produced outside of the United States.
NORTHROP GUMMAN NATO Secretary-General Mark Rutte announced that NATO allies will purchase up to five Northrop Grumman MQ-4C Triton drones for high altitude surveillance. Norway, Finland and Germany signed a letter of intention.
AIRBUS NATO 'will launch a fleet of strategic Airbus A400M transport aircraft and expand 'its existing A330 MRTT?tanker and transport -fleet?by one aircraft. Rutte stated.
ISAR AEROSPACE German Rocket Maker Isar Aerospace has signed a contract with Canada’s Maritime Launch Services to build and use a dedicated launchpad for its Spectrum rocket in Spaceport Nova Scotia.
(source: Reuters)