Latest News
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Trump signs executive order ordering AG to prosecute flag desecration
According to a White House fact sheet, President Donald Trump will sign on Monday an executive order that instructs the U.S. Attorney General to prosecute anyone who desecrates the American flag by burning it. The American flag is a sacred and beloved symbol of the United States of America. Desecrating the American flag is offensive and provocative in its own right. The fact sheet stated that it was a declaration of contempt and hatred towards our Nation. According to the fact sheet, the order directs the attorney general "vigorously prosecutes" those who violate flag desecration law and to pursue litigation in order to clarify the scope First Amendment with regard to this issue. The executive order also directs that flag desecration cases be referred to local or state authorities. The executive order also directs the administration not to grant visas or residence permits, nor initiate naturalization procedures for anyone who desecrates the flag. Brendan O'Brien, reporting from Chicago; Bernadette Baum, Andrea Ricci and Bernadette B. Baum edited the article.
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Sources say that Tokyo Gas is in talks with Venture Global to purchase 1 mtpa LNG.
Three people familiar with the discussions said on Monday that Tokyo Gas and Venture Global are in talks to buy 1 million metric tons of liquefied gas per year from the company's CP2 Export Facility. Venture Global, the U.S.'s second-largest LNG exporter, has been the primary source for the growing LNG export capability of the U.S. since 2023. This helps the U.S. to remain the largest exporter in the world of supercooled gas. Tokyo Gas has begun negotiations with Venture Global to purchase LNG on a long-term contract. Two of the three sources confirmed this. Three people have confirmed that the LNG will come from the CP2 Export Facility's second phase, which is due to be operational by the end 2028. Tokyo Gas said in a Monday statement that it was exploring different projects to secure new LNG supply, including in the United States. However, we could not comment on individual projects. Venture Global is not available to comment immediately. CP2 will be the second-largest LNG plant in the U.S. with a 28 mtpa export capacity. Venture Global will become the biggest U.S. exporter of LNG when it is built. Venture Global signed 20-year purchase and sales agreements with Petronas, Eni and has expanded its long-term sale deal with Germany's SEFE since April. Mike Sabel, CEO of CP2, said in a recent earnings call that the three new contracts bring the total volume contracted for CP2 to 13.5 mtpa. Two people have said that Venture Global offers LNG at lower prices than the market. One of the three said, "They're putting pressure on market because they offer LNG at liquefaction fee of $2.35 for mmBtu. Others in the market ask between $2.50 to $2.75. It makes it hard to resist." A second source said that Venture Global offers uncommitted cargoes from its Plaquemines plant on short-term contracts to potential CP2 purchasers, allowing them access to LNG earlier. Venture Global is currently completing construction of its 27.2 mtpa gas facility in Plaquemines in Louisiana. The facility is second in U.S. production behind Cheniere Sabine Pass in Texas. Reporting by Curtis Williams, Marwa Rahat and Yuka Obasashi in Houston; editing by Jan Harvey
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Sources: Novatek will reduce naphtha output due to the fire at Ust-Luga Complex
Four market sources reported on Monday that the Russian energy company Novatek would reduce its naphtha exports, and may resume shipments to international markets of stable gas condensate due to an inferno at their complex located in Ust-Luga port. The regional governor stated on his Telegram account that debris from a destroyed Ukrainian UAV caused an early morning fire at Novatek’s Ust-Luga Terminal on 24 August. According to market sources, the complex was closed on Sunday. Two sources say that while the full impact of the fire is not yet known, at least one unit of processing was damaged. According to two other sources, the fire also damaged two processing units. Novatek didn't immediately respond to a comment request. The Ust-Luga Complex has three processing units each with a 3 million ton per year capacity. It refines stable condensate and converts it into jet fuel, light and heavy naphthas, fuel oil for ships, and gasoil. This complex allows the transshipment of gas condensate for export. Reduced processing capacity would result in more gas condensate available for export. Company data revealed that from January 2025 to June 2025 the complex processed 4,2 million tons of condensate gas. According to LSEG, Novatek will export an average of 420,000 tonnes per month of naphtha from Ust-Luga to Asian countries - Singapore Malaysia Taiwan and China - in 2025. Novatek's terminal at Ust-Luga also caught fire in January 2024 as a result two explosions caused by "external impacts". The operation of the splitters had to be stopped. On February 11, 2024, the company resumed processing condensate at the complex. Reporting by Trixie Yap, Singapore with additional reporting by. Jan Harvey is the editor.
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Vietnam is hit by Typhoon Kajiki, which has caused trees to fall and homes to flood.
On Monday, Typhoon Kajiki flooded the north central coast of Vietnam, with torrential rainfall. Despite a slowing down in wind speed, trees were felled and homes flooded. According to the weather agency, as of 0900 GMT Kajiki was located on the coasts of Nghe An province and Ha Tinh Province, where wind speeds had slowed to 118-133 km/h from a maximum of 166 km/h. "It is terrifying," said Dang Phuong, 48, a resident of Cua Lo in Nghe An Province, which was directly affected by the storm. Phuong said, "I could see 2 metre waves when I looked down from the upper floors. The water had flooded the streets around us." According to reports in the state media, power was cut in Ha Tinh Province in several places. Roofs were also blown off and floating fishing farms were swept away. Vietnam closed airports and schools earlier, and began mass evacuations in preparation for the strongest storm this year. Kajiki will bring heavy rains and flooding, the government said. Vietnam's long coastline, which faces the South China Sea is susceptible to violent storms. These can be deadly and cause dangerous flooding and mudslides. Weather agency says rain could reach 500 millimetres in some parts of north Vietnam from Monday afternoon to Tuesday evening. On Monday, the Vietnamese government announced that 30,000 people were evacuated from coastal regions. More than 16500 soldiers and 107,500 paramilitary staff were mobilised to assist with the evacuation as well as standby for search and recovery. According to the Civil Aviation Authority of Vietnam, two airports were closed in Thanh Hoa province and Quang Binh. Vietnam Airlines and Vietjet canceled dozens of flights into and out of the area Sunday and Monday. Kajiki, which is currently moving towards Vietnam from China's Hainan Island, skirted around the southern coast on Sunday and forced Sanya City to close its businesses and shut down public transport. Hainan, China's most southern province, downgraded their typhoon alerts and emergency response alerts Monday morning. However they warned that heavy rains and isolated storms could occur in southern Hainan cities. Local media reported on Sunday night that many residents of Sanya, an extremely popular resort, took shelter in underground garages from the storm. Reports said that some large trees had been brought down, leaving the roads littered with broken branches on Monday morning. China's Transport Ministry urged local authorities to be vigilant against secondary disasters and risks after the National Forecaster warned of typhoon impact on a wide part of the nation until early Tuesday. The warning extends to all of China's provinces, including the northeastern ones such as Heilongjiang, Jilin and Yunnan which are near the Koreas. The Chinese Embassy in Hanoi reminded Chinese nationals in Vietnam on Monday to be prepared for heavy rain and strong winds by being aware of their prevention.
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Slovak Minister: Russian oil supply to Slovakia could resume today
Denisa Sakova, Slovak Minister of Economy, said that in the best case scenario, Russian oil deliveries to Slovakia via the Druzhba Pipeline, which were interrupted by a Ukrainian attack on Russia last Thursday, could resume as early as Monday. In recent weeks, Russia and Ukraine have intensified their attacks on the energy infrastructure of each other. They have targeted Ukrainian heating supplies as well as Russia's Druzhba Pipeline and other facilities. After a Ukrainian attack on a Russian facility, Slovakia and Hungary announced on Friday that they could suspend their supply of Russian oil for at least five more days. Sakova responded to questions via email by saying that, "According the the latest information this is a outage lasting four to five days." In an ideal case, we can expect the resumption in Slovakia of supplies on Monday. She stated that the supply of oil to customers was not in danger, as the country has 90 days' worth of reserves. After the full-scale invasion by Russia of Ukraine in 2022, the European Union has reduced its energy supply from Russia and is aiming to phase out Russian gas and oil by 2027. Slovakia and Hungary maintain relations with Russian president Vladimir Putin, and oppose sanctions against Russia which Ukraine claims are essential to get Moscow to drop its war demands that it calls unacceptable. The Croatians are also against the phase out of Russian energy via the Druzhba pipe, claiming that they can't rely on a different pipeline coming from the Adriatic coast. Slovakia and Hungary asked the European Commission to ensure supply security on Friday. A spokesperson for the Commission said Monday that the Commission had been in contact with the member states to assess their situation. He added that the supply security was of paramount importance. Last week, the Russian oil supply to Hungary and Slovakia was cut off for the second time due to a Ukrainian strike. The Ukrainian military announced late Thursday that it had hit the Unecha oil-pumping station, which is a vital part of the pipeline bound for Europe. (Reporting from Jan Lopatka, Prague; additional reporting from Kate Abnett, Brussels; editing by Jan Harvey).
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Baltic Sea cable breaches: suspects plead not guilt to sabotage
On Monday, the trial in Helsinki began. The captain and two other officers of an oil-tanker accused of cutting five underwater power and communications cables as they left Russia to sail through the Gulf of Finland pleaded no contest. NATO allies stationed in the Baltic Sea region went on alert following the incident of December 25, one of many suspicious outages of gas and cable pipelines in the area since Russia invaded Ukraine, in February 2022. The Eagle S tanker, according to the prosecution, deliberately dragged the anchor along the seabed in order to cut the Estlink 2 cable connecting Finland and Estonia as well as the four internet cables on Christmas Day. After ordering the ship to enter Finnish territorial waters, Finnish security forces intercepted and boarded the vessel from helicopters. The cable owners claimed damages of tens or even hundreds of millions of Euros. The Cook Islands tanker's Georgian Captain, Davit Vasdatchkoria and its Indian First and Second Officers are facing a 2.5-year prison sentence for aggravated criminal damage and aggravated interference in telecommunications. Tommi Heinonen, the lawyer for Vadatchkoria, called the incident a "marine accident" and, along with the other defendants, denied that the court had jurisdiction over the matter because the cable cut occurred in international water. He said that the anchor of the vessel had fallen due to technical problems in the securing the anchor winch. Prosecutors told the court that on December 25, the Eagle S continued to sail for three hours with a reduced rate of speed after cutting the first cable at 12:26 local time. The crew of the Eagle S answered affirmatively when asked by the Finnish authorities at 3:20 pm whether the anchor was secured and up. This was not true, according to the prosecution. The defence lawyers said that the crew did not have any reason to think the anchor was sunk into the seabed, as the mechanical engineer of the tanker, who isn't on trial, told the defendants that the speed drop was caused by "an engine issue". The prosecutor said that the tanker went on with its journey, and cut four additional cables between 6 and 7:00 pm on December 25. They said this showed a clear criminal intention. The maximum prison term in Finland for aggravated criminal harm is 10 years, while the maximum jail term for aggravated interference with communications can be up to 5 years. The damage was a serious threat to Finland's energy supply and communications, according to prosecutors. Repair costs were estimated at 70 million euros (60 million euro). A Ukrainian was arrested last week over 2022 attacks against the Nord Stream pipelines in Baltic Sea. Both Moscow and Western countries have called the explosions that largely cut off Russian gas supplies in Europe sabotage.
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Ukrainian farmers demand lifting of the ban on importing nitrogen fertilisers by sea
Ukraine's largest farming union demanded on Monday that the government lift the wartime ban on imports of nitrogen fertilisers into the country’s maritime ports. They warned that the shortages could affect the yields of the key grain crop in the country. Ukraine banned the import of explosive nitrogen fertilisers at seaports when it began its war with Russia. The UAC Farmers' Union said that while nitrogen fertilisers are still available for import via land or river ports, shortages have become worse during a season of high demand. The UAC stated that the key factor is the prohibition on the importation of grade A ammonium, which is an explosive substance. It also bans the importation of other nitrogen fertilizers, all of which are non-explosive. The report said that if this problem is not solved urgently, the country may face a 30% decrease in the yields of important crops which supply the domestic and international markets. Ukraine exports about 40 million tons of grain per season. Ukraine is also the world's largest supplier of sunflower oil and seeds. The union stated that the yield of commodities depends on the import of mineral fertilisers which are applied during this time of year. The union said that the yield of commodities depends on mineral fertilisers imported at this time of year.
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Evergrande's debt has reached a point of default and delisting.
China Evergrande Group delisted from Hong Kong's stock exchange Monday. It was one of the biggest removals in terms of market value and volume. Evergrande, once China's largest developer, faced a financial crisis in 2021. The developer, along with a number of its competitors, has defaulted on their debt obligations due to slowing sales and decreasing fundraising options. This timeline shows how the debt crisis has developed at Evergrande - the world's largest developer. AUGUST, 2021 Evergrande has halted construction on many projects in the country due to unpaid payments. China's central banking and banking watchdog summons senior executives to issue a rare warning: Evergrande should reduce its debt risk and put stability first. SEPTEMBER, 2021 Two offshore bond coupons totaling $131 million were not paid. Payments have a grace of 30 days. Evergrande hires financial advisors to explore options and warns of the cross-default risk amid plummeting property sales. NOVEMBER, 2021 Hui Ka Yan, Evergrande's founder, sells 1.2 million shares for HK$2,68 billion ($343 millions), reducing his stake from 77% to 67.9%. MARCH, 2022 Evergrande has suspended trading of its shares citing the inability of its property management arm to produce audited results by March 31. The investigation also revealed that banks had seized deposits worth $1.87 billion ($13.4 billion) from its property management division. NOVEMBER, 2022 China Construction Bank Asia seizes the mansion of Evergrande's founder, located in Hong Kong’s exclusive The Peak residential area. JANUARY, 2023 Evergrande says its then auditor PricewaterhouseCoopers resigned over disagreements over matters related to its 2021 accounts. FEBRUARY, 2023 A committee of independent experts has found that Evergrande directors have fallen "below standard" for their involvement in the diversion of loans from unit Evergrande Property Services back to group. MARCH, 2023 Evergrande announces plans to restructure its offshore debt, giving creditors the option of swapping their debt for new bonds or equity-linked instruments that are backed by both Evergrande and two Hong Kong listed companies. APRIL, 2023 Evergrande reports that 77% of holders of Class-A Debts and 30% holders of Class-C Debts have expressed their support for Evergrande's restructuring proposal. JULY, 2023 Evergrande posted net losses of 476 bn yuan, and 105.9 bn yuan, for 2021, and 2022, respectively, as opposed to a profit in 2020, when its operation was normal. AUGUST, 2023 Evergrande reported a 33 billion-yuan (66,4 billion-yuan) loss from January to June, compared with a loss of 66.4 billion-yuan a year ago. Evergrande shares are traded again after 17 months. 79% of the market value has been lost since they were last traded. SEPTEMBER, 2023 China's National Administration of Financial Regulation has approved the establishment of a state owned insurer that will take over Evergrande Life Insurance. Evergrande Life Insurance is a 50% invested company. The police in southern China have arrested some employees of Evergrande Financial Wealth Management (an indirect wholly-owned subsidiary of Evergrande). Evergrande postpones the scheme meeting originally scheduled for September 25-26. The company cites the need to reassess restructuration terms. Evergrande has said that it is unable to meet the qualifications for issuance of new notes, as its flagship unit onshore Hengda Real Estate Group is under investigation by regulatory authorities for a suspected violation of disclosure of information. Evergrande claims that the founder of Evergrande is under investigation for suspected crimes. OCTOBER, 2023 Hong Kong High Court grants Evergrande five weeks to revise and present a concrete debt restructuring plan in order to avoid liquidation. NOVEMBER, 2023 Evergrande revises its debt restructuring proposal at the last minute to creditors offshore before the hearing. DECEMBER, 2023 Evergrande receives another adjournment by the Hong Kong court. This gives it more time for finalising a revised offshore debt restructuring plan. Evergrande's Ad hoc Bondholder Group says that it is strongly opposed to the revised restructuring terms. January, 2024 Evergrande’s New Energy Vehicle Unit Group says that its vice chairman Liu Yongzhuo has been arrested and is being investigated for criminal charges. Evergrande Property Services has announced that its units have filed a lawsuit against Evergrande in order to recover the 11.4 billion yuan pledged guarantees on deposit certificates. Evergrande’s ad-hoc bondholders group joins liquidation petition against developer. A Hong Kong court issues a liquidation notice to Evergrande at an hearing on Jan 29, 2019. The trading of its shares is suspended. March, 2024 China fines Evergrande’s flagship onshore unit 4,18 billion yuan, the company’s chairman 47 million and bans him from the securities markets for life for illegal bond issuance. Evergrande liquidators start legal action against the chairman, his former wife and former executives in order to recover approximately $6 billion. August, 2025 Hong Kong Stock Exchange cancels Evergrande's listing effective August 25 as the shares have not resumed trading after 18-month suspension. Evergrande liquidators claim to have sold assets worth $255 million 18 months after the company's liquidation, but they've received claims from creditors totalling $45 Billion.
WhiteWater and partners approve construction of Eiger Express Pipeline
WhiteWater announced on Monday that it and its partners had reached an investment decision for the Eiger express pipeline.
The Eiger express pipeline is designed to carry up to 2.5 billion cubic foot per day (Bcfpd), of natural gas, through 450 miles of 42 inch pipe from the Permian basin to the Katy region in Texas.
WhiteWater, MPLX LP and ONEOK, as well as Enbridge and WhiteWater, via their Matterhorn joint-venture, made the decision to proceed after securing enough transportation agreements with primarily investment-grade shippers.
Midstream companies usually make a final decision about projects after they have secured sufficient supply agreements to get the financing needed for construction.
WhiteWater will construct and operate the pipeline, which is expected to go into service by mid-2028. Reporting by Vallari Shrivastava, Bengaluru. Editing by Shashesh Kuber
(source: Reuters)