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Three people killed as Indonesian protesters burn down regional parliament building
Authorities said that three people were killed and five injured after protesters in Indonesia set fire to the regional parliament building. The demonstrations are the first big test for President Prabowo's Subianto government. In a press release, the disaster management agency of Southeast Asia did not mention the cause of death in the fire that broke out in Makassar on Friday evening, the capital city of South Sulawesi Province. Antara News Agency reported that the victims were allegedly trapped in a burning building. Two of the injuries were caused by people who jumped out of the burning building, according to the disaster agency. The protests in Indonesia's Jakarta began this week, over the pay of lawmakers. They grew on Friday when a police armored vehicle struck and killed a motorbike driver. Prabowo visited the driver's home late Friday night, offering his condolences to the parents of the deceased and promising to supervise the investigation. Local media reported looting and damage in Jakarta to several transport facilities on Friday. Demonstrations were also reported in Bandung and Yogyakarta, two major cities. The mass rapid transit railway in Jakarta said that trains would not stop at a station near the protest site on Friday, and Transjakarta, a bus service owned by the Jakarta Province said it could not serve its customers. On Saturday, there were no signs of immediate protest.
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Spirit Airlines, the pioneer of low-cost airlines, is seeking its second bankruptcy in a matter of months
Spirit Airlines, the pioneer of no-frills air travel in the United States, filed for chapter 11 bankruptcy on Friday. Its turnaround efforts have been stalled by dwindling funds and mounting losses since it emerged from its previous Chapter 11 restructuring in March. Since March, when the carrier emerged from its first bankruptcy, it has struggled with stabilizing its operations. The airline announced on Friday that flights, sales of tickets, reservations, and operations would continue. Spirit Airlines had tried to rebrand itself as a premium airline in order to keep up with the post-pandemic trends of travel that have challenged ultra-low cost model's viability. Spirit's recovery has been further hampered by the uncertainty caused by President Donald Trump's budget cuts and tariffs, which have reduced domestic airfares and cooled consumer expenditure. The airline had to raise its prices going-concern There were doubts in the beginning of this month. Dave Davis, CEO, said: "Since our previous restructuring which focused exclusively on Spirit's funded loan and raising equity capital has been completed, it is clear that much more work needs to be done. There are many other tools available to position Spirit best for the future." First, the Florida-based airline sought You can also find out more about bankruptcy After years of losses, failed merge bids, and mounting debt, the airline filed for bankruptcy protection in November, becoming the first U.S. major carrier to do so since 2011 The company posted a net loss of $1.2 billion last year. This was compounded by the failure of a $3.8-billion merger with JetBlue Airways, and RTX’s Pratt & Whitney engines that forced them to ground many Airbus aircraft. Spirit Airlines began as a trucking company in 1964, before moving into aviation in 1980s. Initially they flew leisure packages under the name Charter One Airlines. Spirit Airlines was rebranded in 1992. It quickly gained a reputation for being a low-cost carrier that caters to budget-conscious travellers who are willing to sacrifice extras such as checked baggage and seat assignments. The pandemic changed the travel industry, forcing ultra-low cost carriers to adjust. (Reporting and editing by Sriraj Kalluvila, Maju Samuel, and Shivansh Tiwary from Bengaluru)
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Trump cancels 679 Million Dollars in Federal Funding for Offshore Wind Projects
The Trump administration announced on Friday that it would cancel $679 million of federal funding for 12 projects involving offshore wind, including $427 for a California project. This is just the latest move in an aggressive campaign by the Obama administration to weaken an industry that played a central role in former President Joe Biden’s climate and energy agendas. U.S. Transportation secretary Sean Duffy stated that the awards made during the Biden administration were a waste "that otherwise could have been used to revitalize America's maritime sector." The Department of Energy awarded $427 Million to Humboldt County in California to build a new maritime terminal for construction and maintenance offshore wind turbines. Humboldt Bay was to be the Pacific Coast's first offshore wind terminal. The funds were intended to revitalize a defunct maritime terminal that would be used for wind-turbine assembly, launch, and project staging. A spokesperson for California Governor Gavin Newsom condemned the action, saying that it was an example of how the Trump administration is "attacking clean energy projects and infrastructure projects" - harming businesses and killing rural jobs and ceding America's economic future to China. The Department of Energy also cuts a $47,000,000 grant for an offshore manufacturing and logistics hub near the Port of Baltimore, Maryland, and $48,000,000 for an offshore terminal project on Staten Island, New York, awarded in 2022. It also reduces $33,000,000 for a port development project in Salem Massachusetts to redevelop an industrial facility that was vacant for offshore wind projects. Massachusetts Governor Maura Maura Healey stated that canceling the Salem grant would cost 800 construction workers jobs. She said that the Trump administration was wasting money by canceling tens millions of dollars from a project already underway to increase our energy supplies. After two major cancellations, U.S. agencies including the Departments of Defense, Energy and Commerce are reviewing the offshore wind farms that were approved by the Biden Administration along the Atlantic Coast. Transportation Department has also cancelled major grants for California's high-speed rail system and other infrastructure projects that are environmentally friendly. (Reporting and editing by David Shepardson, Nichola Groom and Edmund Klamann.
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Southwest Airlines begins flying the first plane with a secondary cockpit barrier
Southwest Airlines announced that it would begin flying on Friday its first jet equipped with a secondary flight deck barrier designed to prevent intrusions. The airline announced that the plane, a Boeing 737 MAX 8 recently delivered to them, will take its first flight from Phoenix to Salt Lake City on Friday afternoon. Pilots unions argue that secondary barriers are essential to aviation safety. They have been sought since the September 11, 2001 attacks, which exposed the dangers of insufficient flight detection protection. This flight marks the start of the deployment of this safety feature on the new U.S. commercial aircraft fleet over the next few years. Boeing and Airbus have said they've begun delivering planes with barriers underneath. Regulation announced for 2023 This took effect on the Monday. The Federal Aviation Administration has agreed to a new agreement. Give airlines until July 2026 Use the barrier in new planes. The FAA has been informed by the majority of major carriers that they will not be using the barriers immediately and instead, take advantage the extension. Southwest Airlines has chosen to comply with the new regulations as soon as it takes delivery of new aircraft. It expects to receive about 25 more Boeing planes in this year, which will be equipped with the barrier. The FAA adopted security standards for the flight deck after the September 11 hijackings of four U.S. planes. These standards are designed to prevent forcible entry and unauthorized access. The rule requires that aircraft manufacturers install a second physical barricade on all new planes in use for commercial passenger services in the United States. Existing planes do not have to be retrofitted.
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Venture Global could soon produce LNG at Plaquemines from all blocks, according to filings
Venture Global's regulatory filings indicate that it could produce liquefied gas at Plaquemines in the near future from all of its blocks. The facility produces 27.2 million metric tonnes per year. According to a Federal Energy Regulatory Commission order, the company was granted permission to introduce nitrogen to Block 15 as a first step towards natural gas production. The move by the regulator followed an authorization on Wednesday to introduce natural gases at Block 18. Each block has two trains, which are also known as trains. According to regulatory filings, it had skipped Block 15 at first after being granted permission to start production at the rest of the facility. The second largest LNG plant in America is Cheniere Energy Sabine Pass. Venture Global expects to commission the plant in phases over the next two-year period, earning more liquefaction fees by selling early cargoes before supplying long-term clients such as Exxon Shell and Orlen. Venture Global didn't immediately respond to our request for comment. Plaquemines, which began producing LNG in December of last year, has increased its output each month. This is a big reason why the U.S. was able to export supercooled gas at record-breaking levels by 2025. LSEG data shows that on Friday, Plaquemines pulled 3.2 bcf, or nearly 20% of the gas produced by U.S. plants. Venture Global, a three-year-old startup, has grown into the second largest LNG exporter in America. The company will be number one when it finishes construction of CP2, a 28-mtpa LNG export facility in Louisiana. Plaquemines was the fastest greenfield LNG facility built in the U.S. It produced its first cargo less than three years after its approval. Curtis Williams, Houston Reporter; Nathan Crooks & Nita Williams, Editors
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Turkey restricts airspace and ships to Israel
Hakan Fidan, the Turkish Foreign Minister, announced on Friday that Turkey had decided to ban Israeli vessels from entering its ports and forbid Turkish ships using Israeli ports. It also imposed restrictions on certain planes in Turkish airspace. In his comments to the parliament, he provided little detail that appeared to summarize steps taken by Turkey against Israel in Gaza war or those already in progress. Israel denies the charge. The Turkish government has strongly criticised Israel for its offensive in Gaza. Ankara halted its trade with Israel and called for international sanctions against it. It also urged the world's powers to stop their support of Israel. Last week, sources told us that Turkish port officials had started requiring shipping agents informally to submit letters declaring their vessels were not connected to Israel or carrying hazardous or military cargo bound for that country. Sources also claimed that Turkish flagged ships will not be allowed to dock at Israeli ports. Fidan said at an extraordinary session of the parliament on Israel's attack on Gaza that "we have completely cut off our trade with Israel. We have closed our ports to Israeli vessels and we do not allow Turkish vessels to enter Israel's port." He added that "we do not allow container ships to enter our port carrying weapons and ammo to Israel, nor airplanes to fly in our airspace." Later, a Turkish diplomatic source clarified that Fidan referred to Israeli government flights as well as flights carrying weapons into Israel. The comments of the minister refer to official Israeli flight and flights that carry weapons or ammunition into Israel. The source clarified that this does not apply commercial transit flights. Fidan said that the Turkish president had also approved of airdropping aid to Gaza. He told the lawmakers that "our planes are prepared, and once Jordan approves, we'll be ready to go." The Israeli government didn't immediately respond to his remarks. Tuvan Gumrukcu, Timothy Heritage and Ros Russell edited the article.
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A Canadian energy executive is tasked with accelerating project approvals
Canada appointed Dawn Farrell, a senior executive in the energy industry on Friday as head of a new office that will expedite the approval and review of natural resource projects like mines and pipelines. This process can take up to a decade. The office was announced by the Prime Minister Mark Carney earlier this year. He said that streamlining would boost the gross domestic product, and offset the impact of U.S. Tariffs. Farrell and her team, which includes Farrell who served as CEO of Trans Mountain Pipeline between 2022 and 2024, will identify projects that are in the national interest, and they will help accelerate their development. Carney's Office said that this should allow major projects to be approved in two years or less. The construction of major infrastructure projects has been held up by inefficient and lengthy approval processes for far too long. This has left huge investments on the table. Farrell's office is located in Calgary, Canada's oil capital. Ottawa has not yet designated any projects of national importance. The Canadian Association of Petroleum Producers stated that Farrell's nomination and the creation of this office were "concrete measures towards making Canada an Energy Superpower and sending a positive message to industry and investors." Farrell was CEO of Trans Mountain from 2012 to 2021. She oversaw the completion of a multi-billion dollar expansion in capacity of the pipeline. She served as CEO of TransAlta, a utility company, from 2012 until 2021. (Reporting and editing by Richard Chang; David Ljunggren)
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Amaggi and Inpasa to partner in building new corn ethanol factories in Brazil
The firms announced on Friday that ethanol producer Inpasa, and Brazilian grain exporter and processor Amaggi, have formed a joint venture for the construction of at least three corn based ethanol factories in Mato Grosso. This is Brazil's largest grain-producing state. Why it's important The corn ethanol industry's growth is key to Brazil's growing demand for renewable fuel. Inpasa, the largest corn ethanol manufacturer in Brazil, is privately owned Amaggi. By the Numbers The companies stated in a press release that each plant should initially have the capacity to process around 2 million metric tonnes of corn annually. They said that Rondonopolis will receive the first investment, but they are also looking at investments in Campo Novo do Parecis, Querencia and Campo Novo do Parecis, without disclosing financial details. KEY QUOTE The companies stated that "this partnership will combine Amaggi’s solid footprint in grain sourcing and logistics with Inpasa’s leading expertise in corn based biofuel production". What's Next? The statement said that the joint venture will be formalized once the Brazilian antitrust authorities have approved its formation. (Reporting and writing by Ana Mano, Gabriel Araujo, Kirby Donovan).
Maguire: US energy exporters are likely to be disappointed by any US-Indian trade deal.
Many people see the new 25% tariffs on Indian goods imposed by U.S. president Donald Trump as a negotiation tactic to force India into buying more U.S. goods and energy in the future.
India's energy importers have less flexibility than it may seem, despite the fact that India's economy is growing fast and ranks fifth in the world.
India is limited in its ability to buy large quantities of U.S. coal, oil, LNG and refined products due to tight corporate margins, cost sensitive consumer markets, long-term import agreements and a slowing economy.
India is located at the base Asia, so it's much closer to other energy exporters. However, it is not as close to the United States. This would result in higher shipping costs for India if it switched to U.S. origin products.
The upcoming trade talks will no doubt be used to entice some Indian companies into making major U.S. investments and purchases, which could boost the mood in Washington D.C.
The Indian market is unlikely to provide the massive and binding commitments of purchase that U.S. oil, gas, and coal exporters are looking for.
TOUGH SPOT
India's import requirements are not the only thing that it has to be concerned about.
According to data from the International Monetary Fund, India's biggest export market is the United States. It accounted for almost 20% of Indian exports over the past few years.
India's exports in 2024 to the United States will be just over $80 Billion, and its imports of the U.S. will total just under $45 Billion.
It will be difficult for India to replace the lost U.S. customers with other buyers, as the U.S. market is twice the size of the United Arab Emirates, India's second largest export market.
This means that the trade negotiators are committed to repairing trade ties as quickly as they can, and they will look at all possible ways of reducing trade imbalances.
CRUDE CUT-PRICE
India's rapid increase in its purchases of Russian crude since mid-2022 was a major concern for the U.S., Europe and other countries. It also became a focus during recent trade negotiations.
Kpler data shows that the average monthly crude oil flow from Russia to India has jumped from 3.2 million barrels per month between 2018-2021 to 50 millions barrels per month since mid-2022.
The more than 15-fold increase in Russian oil purchased by India has provided Moscow with vital import earnings as it deals with the fallout of its war in Ukraine and has seriously undermined efforts to reduce funding to Moscow.
India's refusal of joining Western-led sanctions was a source of anger for the international community. However, India's willingness to increase imports from Russia ensured that refiners in India and their fuel consumers would be protected from any global oil price rise.
In fact, it was the reverse as Indian importers managed to get steep discounts from Russian oil suppliers who were desperate for sales.
These cheap barrels imported from Russia allowed refiners like Reliance, a major Indian company, to increase their supplies and drive the economic growth of India since 2020.
Indian officials have said that they are only acting for their own benefit when it comes to the new tariffs, as the country has not acted in the best interests of its 1.4 billion people.
Any aggressive shift away from cheaper Russian crude to more expensive U.S. oil would have a drastic impact on the Indian economy and would likely lead to an increase in fuel prices, which would be harmful for Indian consumers and refiners.
Data from LSEG show that since 2022 the official price of the main grade Russian oil imported by India has averaged $70 a barrel, which is about $10 less than the main U.S. Crude for export during the same period.
The real discount is probably greater than the U.S. price, as Indian importers are likely to have secured their Russian oil at lower prices.
This means that Indian refiners will not be able to switch to U.S. Crude anytime soon, even under pressure.
LONG SHOTS OF COAL & LNG
U.S. negotiators have cited liquefied gas as a way to reduce trade gaps. A single LNG cargo costs several million dollars.
Indian importers of energy products have less room to change the current U.S. suppliers.
Indian gas importers have already signed long-term contracts with suppliers like Qatar and United Arab Emirates and are subject to stiff penalties if they break the contract.
Even if Indian buyers were willing to cancel those deals and buy from the U.S., they could face an increase in shipping costs which would make the overall cost of cargo uneconomical.
It takes around 30 days for an LNG tanker to travel from the U.S.A. to India, six times as long as the trip from Qatar.
The U.S. coal industry will face similar challenges in removing Indonesia from India's coal pipeline.
The shipping time from Indonesia to India is approximately 11 days. This compares to the 27-day trip on the East Coast of the United States.
India's trade negotiators will have to look for other ways to reach a deal with the U.S. due to the gap between journey times and shipping prices.
These are the opinions of a columnist who writes for.
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(source: Reuters)