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FAA wants to fine Boeing $3,1 million for safety violations
Federal Aviation Administration proposed a fine of $3.1 million against Boeing on Friday for a number of safety violations. These included actions related to the mid-air Alaska Airlines 737 MAX 9 emergency in January 2024, as well as for interfering with the independence and integrity safety officials. The FAA found hundreds quality system violations in the Boeing 737 factories in Renton, Washington and Wichita Kansas, as well as Spirit AeroSystems, a Boeing subcontractor. Boeing also failed to comply with the rules of its quality system and presented two aircraft that were not airworthy to the FAA in order to obtain an airworthiness certificate. The FAA determined that a Boeing employee pressed another Boeing worker who was performing tasks for the FAA, to sign off on a Boeing 737 MAX plane so the company could keep its delivery schedule despite having determined that the aircraft did NOT comply with standards. Boeing and Spirit AeroSystems have not yet commented. The National Transportation Safety Board found that Boeing had failed to provide sufficient training, guidance and oversight in order to prevent Alaska Airlines' mid-air panel blowout, which plunged the planemaker into crisis. The board severely criticized Boeing’s safety culture, its failure to install key bolts into a MAX 9 in production and the ineffective supervision by the FAA. FAA Administrator Bryan Bedford said earlier this week that the agency has not yet made a decision about whether or not to lift the 737 MAX monthly production cap of 38 planes, which was in place from early 2024. It also did have no decisions on how the agency would oversee Boeing production. Before a certificate of airworthiness is issued or an aircraft cleared for delivery, the FAA inspects each 737 MAX & 787 aircraft. The FAA typically delegated the authority for issuing airline tickets to the manufacturer.
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Spain hosts China Trade Talks and sees a chance to mend ties with the US
Spain is looking at hosting the United States-China talks in the next few days as an opportunity to repair relations with Donald Trump's administration, after Washington branded its plan to stop arms sales to Israel "emboldening terrorism". Treasury Secretary Scott Bessent chose Madrid to host their discussion, and a Spanish government source confirmed that Spain would take advantage of this opportunity. The U.S. said Tuesday that measures announced by Prime Minster Pedro Sanchez to restrict access to Spanish airspace and ports for ships and aircraft carrying weapons for Israel are "deeply concerned" because they could limit U.S. operation. According to an agreement signed in 53, the U.S. Military has been using the Moron Air Base and Rota Naval Base, both in Southern Spain, for over 70 years. Sanchez angered Washington by saying that Spain would not raise its defence spending from 3% to 5% of the gross domestic product. Trump then threatened to increase tariffs on Spain. Spain's relations with China are improving as its ties with America deteriorate. Sanchez, who has been to China three times within the last five years, switched from supporting EVs in China to abstaining on the issue of tariffs. He is trying to position Spain as a mediator between China and Europe. The fact that the U.S. used Spain's bases to refuel during the bombing of Iranian nucleus sites in June proves that Spain has never crossed the line, and that the transatlantic relationship is intact. This was stated by Jose-Ignacio Torreblanca senior advisor to the Madrid Office of the European Council on Foreign Relations. Torreblanca stated that "we do not know yet who requested (Spain hosting the event) - if it was the Chinese. But it is good news for Spain." He said that Spain's government will have the chance to talk with Bessent about its concerns and this will give Madrid an "advantage" in future negotiations. Reporting by Charlie Devereux, Aislin Laing and William Maclean.
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US launches pilot program for air taxi deployment
On Friday, the Trump administration announced that it would be launching a pilot program to accelerate the deployment of flying taxis. This is to help companies meet the regulatory hurdles in order to provide advanced air mobility. The Federal Aviation Administration announced that the program would include at least five public-private partnerships between state and local governments, private sector companies and the Federal Aviation Administration to ensure safe operation of electric vertical takeoff (eVTOL), aircraft. Joby Aviation has praised the program. "Aircraft in the program are able to begin operations in selected markets before full FAA certification. This is a crucial step in preparing scaled commercial services." The first to report the rise in air taxi stocks was. Archer Aviation shares rose 3%, while Joby shares grew 5%. Air taxi companies are racing to get approvals and to commercialize air taxi aircraft in order to meet the demand for more efficient and sustainable urban transportation. They promote eVTOLs, which can land and take off vertically. This allows them to get around traffic to transport passengers to airports or short city trips. In June, President Donald Trump issued an executive order to create the program. Other countries such as India, China and the United Arab Emirates are also working to accelerate deployment of eVTOLs. These aircraft could start carrying paying passengers by next year. FAA Administrator Bryan Bedford stated that the agency would use the lessons learned in the pilot projects for safe and scalable operations across the country. Projects include the development of short-range air taxis and longer-range fixed-wing flights. They also include cargo and logistical services, as well as supply for emergency management, medical transport or offshore energy facilities. Participants will use advanced air mobility, which will be generally over 1,320 lbs (599kg) and capable of carrying passengers. They will also use technologies that enable safe integration of the aircraft into the national system of airspace. In October 2024, the FAA will finalize comprehensive training and certification rules for air taxi pilots.
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Azerbaijani oil exports through BTC pipeline fell 5.3% year-on-year between January and August amid contamination
Azerbaijani figures showed that the country's oil exports through the Baku, Tbilisi, and Ceyhan pipelines fell by 5.3% between January-August, down from the previous year. The route had been contaminated with contaminated oil. In July, organic chloride contamination was found in Azeri BTC crude shipments. This caused several days of delays in loadings at Turkey's BTC Ceyhan Terminal. BP operates the Azeri Chirag and Guneshli Oilfields. The BTC pipeline runs through Georgia into Turkey. Azerbaijan shipped 24.6 million tonnes of oil in the first eight month of this year, with 74.7% of that going through the BTC. This is according to the statistics committee of the country. Data showed that the volume of transit oil imported from other countries such as Kazakhstan and Turkmenistan via the BTC dropped to 2.887 millions tons from 3.584million tons during the same period in 2024. (Reporting and editing by Louise Heavens; Nailia Bagirova)
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JTC Financial Services in talks to be taken over by rival bidders Warburg & Permira
After rejecting the previous buyout offers from both rival bidders, JTC Plc, a London-listed financial service firm, said it was in separate discussions with private equity firms Warburg & Permira on Friday. After Bloomberg News reported Warburg's involvement earlier in the day, JTC's shares jumped up to 11.3% and reached a new record high of 1,306 pence. The company's valuation now stands at over 2 billion pounds (US$2.71 billion). JTC is the latest London listed takeover target, in the midst of a potential bidding war. Private equity firms continue eying British companies because of their low valuations. JTC announced that it had rejected Warburg's two proposals on September 5, and 11 respectively. Warburg is currently in discussions with JTC about a third revised offer. JTC said that it has also rejected three Permira proposals and is in the early stages of discussions about a possible fourth revised offer. JTC, a Jersey-based company, did not reveal the prices at which its proposals were made. JTC stated that Permira has to announce a firm bid for JTC before September 26, or it will walk away. Warburg, on the other hand, has until October 10, as a deadline. Other private equity-led deals include Blackstone's nearing a deal with Warehouse REIT, while KKR agreed to purchase Spectris as the largest UK deal so far.
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Koreans describe their anxiety following the US immigration raid as 'like a military operation.
South Korean workers returned home to their families on Friday, after spending a week in detention by U.S. Immigration authorities. They described their horror at the raid of their Georgia workplace and their relief that they were reunited with them. One of the workers who participated in the raid on the 4th of September at the Hyundai Motor and LG Energy Solution car battery factory said, "It felt like a military operation." The authorities were deployed to the entire site within 10 minutes. He declined to reveal his name, as did many other people who spoke with him after their charter plane had landed at Incheon Airport. This was due to the sensitive nature of the situation. Another worker confirmed that U.S. agents arrived in armoured vehicles, helicopters, and separated workers based on visa types. They arrested those with a B-1 visa or the ESTA Visa-Waiver Programme. Some workers' phones were taken away, and they were unable inform their family members until their release. The U.S. Department of Homeland Security's largest single-site operation in history, the DHS detained 475 workers, including over 300 South Koreans, at the plant. Officials in the United States said that the workers had engaged in activities outside the scope of the visa authorisations or overstayed their visas. RELIEF AND ANGER Hwang Insong, brother of an engineer detained said: "I feel relieved." "I couldn't sleep for a whole week because I was so worried." Detainees' and their families' anxiety increased when the delay in their departure was caused by diplomatic disputes over their release terms. "I didn't even know when I could leave." One of the workers said that was the most difficult part. When asked about the conditions at the detention centre in Folkston, Georgia where they were kept, he replied: "It wasn't good." Some complained about the food, while others said that the water smelled of bleach. US Immigration and Customs Enforcement has not responded to questions regarding the alleged poor conditions of the facility. The wife of a subcontractor engineer who only gave her surname Kim said that her husband was arrested on the first day of his work at the construction site. She added that she thought his B-1 visa allowed him to be a supervisor. She expressed concern that he would have difficulty getting a visa to the United States and making business trips. "I'm worried about his career being ruined." South Korean officials claimed on Thursday that U.S. president Donald Trump encouraged the South Koreans who were released to remain in the United States, and train Americans. "I don’t think anyone wants to stay... after going through this, we are not sure whether I would go back," Jang Young-seon said, who had a B-1 Visa. South Korea, an important ally of the United States in Asia, was shocked by the video and pictures of workers chained at the wrists and ankles. Jang Young-eun, Jang's younger brother, said at the airport: "I was furious that an ally treated my brother like a thief." (Reporting and editing by Gareth Jones, Joyce Lee, and Hyunjoo Ji)
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Nigeria reduces crude oil losses to a 16-year low
Nigerian Upstream Petroleum Regulatory Commission said that Nigeria has reduced its crude oil loss to 9,600 barrels a day, which is the lowest since 2009. This is a dramatic drop from 102,900 barrels per day (bpd) lost in 2021. That was the highest loss in over two decades. The NUPRC credited the progress to collaboration between security agencies, contractors, and host communities as well as regulatory reforms, such as metering auditors. Nigeria, Africa's biggest oil producer, has had to deal with oil theft, vandalism of pipelines and aging infrastructure for years. These issues have reduced government revenues and discouraged foreign investments in the sector. The commission stated that the oil legislation passed in 2021, which aims to improve the regulatory framework and attract capital for upstream and middle operations, as well as increase transparency, has improved enforcement and protected infrastructure. In July, the daily production was 1.71 million barrels, consisting of 1.507 million crude oil barrels and 204.864 barrels condensates. The government announced on the social media platform X that in a separate development the Nigerian midstream and downstream infrastructure fund had signed a preliminary deal with Afreximbank for $500 million funding over the next 4 years to invest in gas infrastructure. Nigeria is turning to gas for an alternative fuel since it eliminated a popular, but expensive subsidy on gasoline. This move caused petrol prices to rise, resulting in criticism from both motorists and businesses who use petrol as a source of power.
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Kyodo reports that two people were injured when a United Airlines flight made an emergency landing in Japan.
Kyodo reported that two people were injured in a minor way after United Airlines Flight 32, which was headed to Cebu (Philippines), made an emergency landing in Osaka, a city in western Japan. NHK reported that a Boeing 737 from Narita Airport, near Tokyo, made an emergency landing after 7 p.m. (1000 GMT), after a cargo-fire indicator had activated over the Pacific Ocean. Kyodo reported that 142 passengers and crew members evacuated the aircraft by using emergency slides. The Kansai Airport, local police, fire departments, United Airlines and the Transport Ministry could not be reached by phone after normal business hours. (Reporting and editing by Philippa Fletcher; Mariko Katsumura, Satoshi Sugiyama)
Bousso: Mideast conflict highlights Egypt's weak energy spot
Israel stopped gas exports to Egypt following the start of the war with Iran
The exports resumed on the 23rd of June, but Egypt's gas challenges remain.
Egypt's gas production has declined dramatically in recent years and is unlikely to recover anytime soon
Ron Bousso
LONDON 30 June - Egypt is one of the worst economic losers in the 12-day Middle East war, after Israel cut off vital natural gas supplies to Egypt.
After Israel and Iran agreed on a ceasefire, President Donald Trump of the United States declared it on June 23. However, the incident highlights Egypt's vulnerability as well as the fading hope that the Eastern Mediterranean region could become a major exporter of gas.
In the 2000s, the discovery and development offshore gas reserves near Egypt, Israel, and Cyprus has transformed the energy landscape of the region, making it a major hub for production and attracting international companies.
Egypt was especially benefited by the surge in production. The rapid development of the Zohr gas field in 2017 and the discovery of the largest gas deposit in eastern Mediterranean in 2015 provided Egypt with vital energy for its internal market, as well as income from LNG exports, which will reach 7 million tons by 2022, or nearly 2% global supply according to Kpler's data.
Egypt's production started to decline rapidly in the early 2000s, especially at its flagship Zohr oil field. According to JODI, Egypt's production dropped from 6 billion cubic feet per a day (bcf/d), at the beginning of 2021, to 3.5 bcf/d in April 2025.
Martin Sherriff is an analyst with Welligence Energy Analytics. He predicts that production will average between 4.4 and 4.6 bcf/d in 2014. He added that it is unlikely to grow significantly in the future, given the limited success of the country's offshore gas exploration in recent years.
Egypt's energy problems were compounded due to the rapid population growth from 100 million people in 2015 to over 115 million people by 2023. Egypt's domestic gas production was not enough to meet its population's demands, so in 2020 it began to import gas from Israel. Israel had seen a boom in gas production over the past decade after the discovery of offshore resources. Israel's gas production increased by 70% between 2010 and 2024, reaching 2.5 bcf/d. Around half of this volume was exported to Egypt and Jordan.
Egypt will resume LNG imports for the first since 2018 due to the sharp decline in production. Egypt will import 160 LNG cargos in 2019 and 2020 at prices that are far higher than those it can produce or purchase from Israel where the export pipelines have already reached capacity.
WAR CASUALTY
Egypt's vulnerability to energy was brought into sharp focus by the recent conflict between Israel and Iran.
Israel and Egypt signed a peace accord in 1979, after years of conflict. Their interdependence increased as their gas trade developed.
Following the outbreak of violence on October 7, 2023, these gas flows were mostly uninterrupted. Israel's decision to stop operations at Leviathan and Karish offshore gas fields after launching a wave of airstrikes on Iran led to a suspension of natural gas sales.
According to Jodi, Egypt imported more than 0.9 bcf/d of Israel's total observed consumption in the first four month of 2025.
The drop in Israel's gas deliveries, just as the demand for electricity was approaching its peak during summer, threatened to be a serious blow to Egypt’s economy.
As part of an emergency plan by the Egyptian government to cope with a drop in Israeli gas supply, Egyptian fertilizers producers had to close their operations. Power plants in Egypt increased their use of fuel oil while others switched over to diesel in order to maintain the grid stability in a nation that has suffered from massive blackouts.
According to a calculation done on the back of a piece of paper, for every week that Israel's gas imports were disrupted, Egypt would need to purchase two additional LNG cargoes to compensate or find other fuel sources.
RELIANCE IS RISING
Israel has resumed its gas exports to Egypt, which is a relief for Cairo. This does not solve Egypt's fundamental problems.
Energy majors such as BP, Exxon Mobil Shell and Chevron are still exploring for new gas reserves in Egypt. If found, these resources could offset the natural decline of its existing fields.
The Israeli gas exports could increase to Egypt when the Leviathan field operated by Chevron expands its production from 12 bcm to 14 bcm by 2026. However, delays in expanding the pipeline capacity between Egypt and Israel could hinder that expansion.
For now, however, the outlook for the country's gas production is bleak. The nation also struggles with sluggish economic growth, and significant revenue loss from Suez Canal Transit Fees, due to the attacks of Iran-backed Houthi Rebels in Yemen.
The decline of Egypt's oil and gas industry has wiped out hopes that the Eastern Mediterranean would become a major LNG-exporting hub in coming years.
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(source: Reuters)