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Officials say at least 5,000 people have been killed in the unrest in Iran, while the judiciary suggests executions
An Iranian official in the area said that at least 5,000 people were killed during protests in Iran. This included 500 security personnel. The figures were verified and the official accused "terrorists" and "armed rioters", of killing "innocent Iranians". On December 28, nationwide protests over economic hardship erupted. They grew over the next two weeks to include widespread demonstrations demanding the end of the clerical regime, resulting in one of the deadliest civil unrests since the 1979 Islamic Revolution. Donald Trump, the U.S. president, has repeatedly warned that he would intervene if protesters were killed or executed on the street. In a post on social media, Trump thanked Tehran leaders for cancelling scheduled mass executions. State media reported that Ayatollah Khamenei, the Supreme Leader, said on Saturday: "We won't drag our country into war but we won't let domestic or foreign criminals go unpunished." The judiciary hinted that executions could take place on Sunday. Asghar Jahangir, the Iranian judiciary's spokesperson, told a recent press conference that "a series of actions has been identified as Mohareb which is one of the most severe Islamic punishments". Iranian law punishes mohareb (a legal term in Islam meaning to wage war on God) with death. In an interview with Politico published on Saturday, Trump stated that "it is time to find new leadership for Iran". Khamenei - Iran's supreme authority - accused the country's longtime adversaries, the U.S., and Israel, of organising violence. He acknowledged "several thousands deaths". HRANA, a rights group based in the United States, said that on Saturday 3,308 deaths had been confirmed and 4,382 other cases are being investigated. The group confirmed that it had confirmed over 24,000 arrests. According to an Iranian official, the confirmed death toll is unlikely to be much higher. The official stated that the final death toll was not expected to rise sharply. He added that "Israel" and "armed groups abroad", had supported and outfitted those who took to the streets. The clerical elite regularly blames unrest in Iran on foreign enemies. These include the United States, Israel and other arch-foes of the Islamic Republic. Israel was the first to launch military strikes against Iran back in June. HIGHEST DEATH TOLL IN KURDISH AREAS The Iranian official who refused to be named because of the sensitive nature of the matter, said that some of the most violent clashes, and the highest number of fatalities, occurred in the "Iranian Kurdish" areas of the country's northwestern region. Kurdish separatists are active in these areas, and past unrest has seen violent flare-ups in the region. Three sources informed? Three sources told? Hengaw, a Kurdish rights organization based in Norway, has stated that some of the most violent clashes occurred in Kurdish regions in the northwest during the protests which erupted late December. According to state media and residents, the violent crackdown has largely quelled protests. Internet blackouts have made it difficult to get information. They were lifted in part for a few early hours on Saturday. Internet monitoring group NetBlocks reported that the blackout appeared to have been reinstated late Saturday. (Reporting and Editing by Edmund Blair; Louise Heavens, PhilipaFletcher, Philipa Fletcher).
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Libya signs $2.7 billion partnership for expansion of Misurata Free Zone
Libya will sign on Sunday a strategic partnership to develop and expand the Misurata Free Zone with international firms, attracting estimated $2.7 billion in investment. The project would generate an estimated $500 million in operating revenue annually if the agreements were signed with Qatari companies and Italian, Swiss, and Swiss firms. Dbeibah stated that "this project will not only boost Libya's ranking among the?largest port in terms of capacity and size, but also relies on direct foreign investments within a comprehensive partnership". Dbeibah stated that this partnership reflects "the government's commitment to attracting a productive external financing in order to stimulate the economy, modernize the infrastructure, and turn state assets into platforms with sustainable returns." The Libyan economy is heavily dependent on oil. It accounts for over 95% of the total economic output. Misurata, a port town located 200 km (124 miles), east of Tripoli's capital city. Dbeibah stated that the project will create around 60,000 indirect jobs as well as?8,400 direct roles. Dbeibah also added that the terminal's annual capacity would be increased to 4,000,000 containers. The port covers a large area, spanning 190 hectares. According to the website of?the Free Zone,?190 ha are available. Since a NATO-backed uprising in 2011, Libya has suffered from instability, leading to a split between eastern and Western factions in 2014. Each of these factions is governed by rival governments. (Reporting from Menna Alaa El Dn, Ahmed Elumami, Muhammad Al Gebaly, and Louise Heavens).
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NIS, a Russian company sanctioned by the US and owned by Russians, restarts Serbian refinery
Serbia's energy ministry said that the majority-owned Russian oil company NIS had restarted its refinery in Serbia and resumed crude oil imports after receiving a waiver from United States sanctions. In an Instagram post, Energy Minister Dubravka Handanovic stated that the refinery was restarted following a break of nearly two months. She stated that the first diesel produced by the refinery following the restart of the plant should be on the market before January 27. In October, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), which is part of the Treasury Department, imposed sanctions against NIS. The majority stake in NIS belongs to Russia’s Gazprom and Gazprom. NIS was given until the end of March to complete the sale of stakes to Russian companies. It is currently in the middle of negotiations with Hungary's MOL. Peter Szijjarto, the Hungarian foreign minister, said that he expected that OFAC would approve the initial sale in the next few days. NIS, the sole oil refinery in Serbia was granted a sanction?reprieve until January 23 by OFAC, allowing it import crude oil through Croatia's JANAF pipe. Gazprom owns 11.3% of NIS and Gazprom neft 44.9%. Serbian government owns 29.9% of NIS. (Reporting and editing by Tom Hogue; Additional reporting by LefterisPapadimas)
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Iranian official: verified deaths in Iran protests at least 5,000
A regional Iranian official said that authorities have'verified' at least 5,000 deaths in protests in Iran. This includes?about 500 security personnel. He blamed "terrorists" and "armed rioters", for the deaths of "innocent Iranians". The official who refused to be identified due to the sensitive nature of the matter, said that some of the 'heaviest clashes' and 'highest number of deaths occurred in the Iranian Kurdish regions in northwest Iran. This is a region in which?Kurdish Separatists are active, and where past unrest has seen the most violent flare-ups. The official stated that the final death toll was not expected to increase dramatically. He added that "Israel and other armed groups" abroad had supported and provided equipment for those who took the streets. The Iranian authorities blame the unrest on their enemies including Israel. Israel is an arch enemy of the Islamic Republic and launched military attacks on Iran in June. The HRANA rights group, based in the United States, said that on Saturday?the death toll reached 3,308, and another 4,382 were under review. The group said it had confirmed a total of more than 24,000 arrests. Hengaw (an Iranian Kurdish group based in Norway) has said that some of the most violent clashes occurred in Kurdish regions in the north-west during the protests which erupted late December. Edmund Blair, Louise Heavens and Edmund Blair are responsible for the editing.
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In Thailand, crane accident kills 32 people
The regional governor reported that a train derailed on Wednesday in northeastern Thailand after a crane fell onto two of its wagons. At least 32 people were killed and 66 injured. The accident happened in the 'Sikhio' district of Nakhon Ratchasima Province, 230 km northeast of Bangkok. It was on a train bound for Ubon Ratchathani. In a press release, Transport Minister Phiphat Ratchakitprakarn stated that there were 195 passengers aboard the train. He also said he ordered an investigation. The crane, which was working on high-speed rail construction project collapsed when it hit a passing train. This caused the train to derail briefly and catch fire. After being briefed on the incident, Prime Minister Anutin Charnvirakul said to reporters that the State Railway of Thailand should provide good compensation to the families of those who died. He added: "We must investigate... and take legal actions." The Italian-Thai Development Public Company Limited, which had been contracted to build the rail section, expressed regret and promised to compensate and provide relief to the families of those who died. A 30-storey Bangkok building being constructed by a joint-venture including ITD collapsed in March of last year killing 89 after an earthquake with a magnitude of 8.8 struck Myanmar. ITD President Premchai Karnasuta was Indicted on August Along with 22 other people on allegations of negligence, and breaching "construction regulations". When they were arrested for the first time in May, the executive and 14 other people denied any wrongdoing. Smoke Billows from Wreckage The ministry shared images of train carriages flipped over next to shrubland, and firefighters extinguishing an blaze while smoke billowed. The footage, which was verified by, showed rescue workers attempting to remove casualties from a mangled carriage. Some of the badly injured passengers were already being loaded into ambulances. The elevated high-speed railway project was built above an existing rail line. The concrete stanchions that were built to support the rail link are still holding up a part of the collapsed crane. Debris is dangling from the tracks below. The project is part of a transnational high-speed rail link between the Thai capital and the southwest Chinese city Kunming. The recovery operations continued at the accident site into the evening of Wednesday.?Anutin said that the track must be cleared by the weekend. He said that delays on this major rail line would harm the local economy. HIGH-SPEED LINK?CONNECTS CHINA THROUGH THE LAOS Mao Ning, spokesperson for the Chinese Foreign Ministry, said that Beijing attaches great importance to the safety of personnel and projects in Thailand. "At the moment, it appears that a Thai company was building the relevant section." The cause of the accident remains under investigation. The high-speed cross-country rail project will link to China via Laos. Last year, the government announced that more than one-third of the construction work had been completed on the segment between Bangkok and Nakhon Ratchasima. The entire line from Nong Khai to the border with Laos is expected to be ready by 2030. (Reporting Panarat Thepgumpanat, Panu Wongcha -um and Ethan Wang from Beijing; editing David Stanway Sharon Singleton Mark Heinrich
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Indonesian authorities discover wreckage of a missing surveillance plane that had 11 people on board
Indonesian authorities announced on Sunday that they have located the wreckage from a missing fisheries-surveillance plane in South Sulawesi Province near a foggy mountain. They are still searching for 11 people who were on board. The ATR42-500 turboprop owned by Indonesia Air Transport lost touch with air traffic control on Saturday around 1:30 pm local time (0530 GMT), in the Maros area of South Sulawesi. The plane was chartered by Indonesia’s Marine Affairs and Fisheries Ministry for air surveillance of fisheries. The passengers were staff from the ministry. The head of South Sulawesi’s rescue agency, Muhammad Arif Anwar said on local TV that the rescuers will deploy 1,200 people to?search the missing passengers and crew. He said, "Our first priority is to find the victims. We hope there are some that we can safely evacuate." Before losing contact, the aircraft was heading towards Makassar (the capital of South Sulawesi) after leaving Yogyakarta. Andi Sultan, a South Sulawesi rescue agency official, said that local rescuers discovered the wreckage around Mount Bulusaraung on Sunday morning. The mountain is located approximately 1,500 km (930 mi) northeast of Jakarta, the capital city of this island nation. Sultan informed reporters that "our helicopter crews saw the debris from the plane's windows at 7:46 am." He said that around 7:49 am, large pieces of aircraft were discovered, which he suspected to be fuselage. The tail of the airplane was also visible at the bottom slope of the mountain. Sultan said that rescuers were deployed at the sites where the wreckage had been discovered. He added that the search for the wreckage was hindered by dense fog and the mountainous terrain. Video footage released by the'rescue agency' shows a window from the plane scattered around the mountain in thick fog. Sultan stated that the National Transportation Safety Committee of Indonesia would be leading an investigation into this crash. Experts say that the cause of this accident is still unclear. The ATR 42 500, produced by the franco-italian planemaker ATR, is a regional turboprop aircraft that can carry between 42 and fifty passengers. Flightradar24, a flight tracking website, said that on X the plane was over the ocean and at a low level so its coverage was limited. The last signal was received around 20 km northeast of Makassar Airport at 0420 GMT. (Reporting and editing by Jamie Freed; Ananda Teresia)
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EU Summit Chair: European Union is weighing its response to Trump's Greenland Tariffs
Antonio Costa, the European Council president, said that the EU is'very firm' in defending international law. He was responding to a question regarding new tariff threats by U.S. President Donald Trump. Costa also added that he was working on an "EU response" on this issue. Costa said at a press briefing after the EU signed a free-trade agreement with Mercosur and Trump threatened to impose tariffs on European allies for refusing to support his desire to take over Greenland. He continued, "For the time being, I'm coordinating a response from the European Union member states on this issue." (Writing and Editing by Mark Potter.)
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India fines IndiGo $2.45Million for December cancellations
IndiGo was fined a record amount of?222 millions Indian rupees (2.45 million dollars) by India's aviation regulator on Saturday for "poor roster planning" that resulted in mass cancellations of flights in December. The regulator issued warnings for senior staff, including Chief Operating Officer Isidre?Porqueras, and Jason Herter, Senior Vice?President of Operations Control Centre, with instructions to IndiGo to relieve Herter?of "current operational responsibilities". According to a government source, the fine was the highest ever. IndiGo has been ordered to provide a $5.51m bank guarantee in favor of the Directorate General of Civil Aviation. This is "to ensure compliance with the directives, and long-term correction of the system," according to the regulator. IndiGo stated in a press release that the board and management are "committed to taking full cognisance and will take appropriate measures, 'in a thoughtful manner and on time. India's biggest airline, Air India, canceled 4,500 flights in the first weeks of December. This left tens of thousand of passengers stranded across the country. It also caused chaos at airports. Reporting by Abhijith Gaapavaram and Rajveer Pardesi, Editing by Toby Chopra & Barbara Lewis
Five energy market trends in 2026: Bousso
The energy markets are in a depressed mood for 2026, as geopolitical uncertainties cloud the outlook. In addition, signs of a growing oil and gas supply threaten to lower prices.
The oil and gas industry had a crazy year in 2018. Highlights included the 12-day Israel/Iran conflict in June, the trade wars of Donald Trump, the intensified targeting by Russia of energy infrastructure as part of its war on Ukraine, OPEC’s sometimes perplexing decisions regarding production, and the recent threatened U.S. ban of Venezuela.
What's next for the upcoming year? Here are five energy trends that will likely shape the landscape by 2026.
The Year of the Glut?
Fears of a significant oversupply caused crude oil prices to fall nearly 20% by 2025, from $60 per barrel to around $60.
The global oil production has risen over the last year. The U.S., the world's largest oil producer, increased production as did Canada, Brazil and the Organization of the Petroleum Exporting Countries, including Russia.
According to the International Energy Agency, supply is expected to exceed demand by 3.85 million barrels a day (bpd) in 2026. This is equivalent to around 4% global demand.
OPEC analysts, however, see a largely balancing market in the coming year. This is one of sharpest forecast differences seen in decades. China's massive crude stockpiling has exacerbated the uncertainty about supply-demand. These volumes are not well known by traders, but they are believed to be large, at around 500,000 bpd.
The IEA is more likely to prove correct in the end. Kpler data shows that oil transported or stored on tankers reached its highest level in the last few weeks since April 2020 when consumption plummeted due to COVID-19 locksdowns. These elevated seaborne inventories suggest that onshore stocks may start to fill soon, adding further downwards pressure on prices.
The LNG Wave is coming
The demand for liquefied gas has increased in recent years. This is because Europe wants to replace the large volumes of Russian pipeline natural gas that it imported prior to Moscow's invasion in Ukraine in 2022.
As global export capacity increases, the boom may no longer be as profitable for LNG producers and traders.
According to the IEA's estimates, between?2025- 2030, the new LNG export capability is expected to increase by 300 billion cubic meters per year. This represents a 50% increase, and around 45% of this capacity will come from the U.S.
Over the next few years, supply is expected to exceed demand growth. This will squeeze margins for producers and offer some relief to consumers in Europe and Asia. The rising price of natural gas in the United States is another problem for producers.
Still, there are some reasons for optimism among producers. LNG prices will continue to fall in 2026, and beyond. This power source, which is more competitive than other fuels like oil and coal as they become cheaper, could boost demand.
DIESEL PERFORMANCE CONTINUES
The diesel profit margins rose this year. They gained momentum in the last half-year as the refined product market was faced with supply constraints, even though the world was increasingly awash in crude oil.
According to LSEG, the benchmark European diesel refining profit margins increased 30% in 2025 compared to a 20% decline in Brent crude in 2025. This is largely because of a series of Ukrainian drone strikes on Russian refineries, oil terminals and other oil facilities, which resulted in a drop in diesel exports by late 2025.
The trend is expected continue until 2026 as there are relatively few new refinery capacities coming on line. The calculus would be altered if there was a peace agreement in Ukraine, but it is likely to offer only limited relief.
BIG OIL EXPECTS BRIGHTER FURTURE Oil and Gas companies are preparing for strong headwinds by 2026. Chevron, TotalEnergies and Exxon Mobil have all announced cost reductions of around 10% for the next year. The oil majors are also quite optimistic about the long-term prospects. The oil majors are investing more in exploration and new projects that will be online in this decade or early 2030s. Saudi Arabia, the United Arab Emirates and other major Middle East oil producers are also preparing for a new upstream investment era.
The long-term bullishness could lead Western oil majors – most of whom have solid balance sheets with?relatively little debt, BP being the notable exception – to take advantage of the anticipated 2026 downturn in order to buy up struggling competitors.
RENEWABLES Down But Not Out
The IEA lowered its forecast of renewable?power through 2030 in October by a fifth, or 248 Gigawatts. This was due to weaker prospects for the U.S. Solar is expected to account for 80% of this increase in global renewable capacity by 2030.
However, the demand for electricity will still grow by 4% annually by 2027. This is due to the power-hungry data centers and the electrification in general of economies.
The world's energy markets will be dominated by this tension in 2026, especially as solar, wind, and battery storage costs are expected to continue to fall.
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(source: Reuters)