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ONEOK purchases remaining Delaware Basin Joint Venture stake for $940 Million
U.S. Pipeline Operator ONEOK announced on Tuesday that it has purchased the remaining stake in Delaware Basin Joint Venture from NGP XI Midstream Holdings for $940 million in cash and stock. By acquiring the remaining interest of 49.9%, ONEOK gained the sole ownership of this basin. It operates natural gas gathering, processing, and storage facilities in West Texas, and New Mexico’s Delaware Basin. The total processing capacity is over 700 million cubic feet a day. In the last two years, the operator of the pipeline has diversified its portfolio through acquisitions. These include a Gulf Coast NGL system from Easton Energy, and the purchase of Medallion Midstream, and EnLink Midstream. These moves are part a larger effort to increase its presence in Permian basin amid the growing consolidation of the U.S. Energy sector. The deal is worth $530 million cash and $410 millions in ONEOK common shares, according to the company. ONEOK has a pipeline network of 60,000 miles that transports crude oil, refined products and natural gas liquids. (Reporting and editing by Mohammed Safi Shamsi in Bengaluru. Katha Kalia is based in Bengaluru.
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US Airlines seeks 2-year delay in secondary cockpit barrier rule
The Federal Aviation Administration said that major U.S. carriers want to delay for two years, by August of this year, the requirement to install a secondary barrier in the cockpit to prevent intrusions. Airlines for America, a trade group that represents American Airlines, United Airlines and Delta Air Lines as well as other major carriers, argued in a petition to the FAA that it should delay the finalization of the 2023 requirement because the FAA has yet to approve a secondary cockpit barricade and there are no approved manuals, training programs or procedures. The FAA announced that it would be accepting public comments on the airline's request until June 23. 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. In the petition, the airlines said that they expected the FAA would certify the barriers by June or July. The FAA declined to comment immediately. This rule requires aircraft manufactures to install a physical second barrier on all planes that are used for commercial passenger services in the United States. In 2023, the FAA stated that the additional barrier would protect the flight deck from intrusions when the flightdeck door is opened. Air Line Pilots Association president Jason Ambrosi criticised the industry's request. He said: "We urge FAA to reject the latest stalling tactics and implement the secondary barrier requirement, as Congress mandated, without delay." Boeing, Airbus and Airlines for America argued for three years, but unions in 2023 wanted the rule to take effect immediately after publication. According to a federal law passed in 2018, the FAA had to adopt rules by 2019. However, it has stated that it must follow certain procedural rules to be able to impose new rules. The FAA does not require retrofitting of existing aircraft. The FAA set up rules in 2007 to address the security of the flight deck when the cockpit doors were opened. These included requiring that the door must be locked while the aircraft is in operation unless it was necessary to unlock it for authorized personnel. (Reporting and editing by Leslie Adler, Marguerita Choy and David Shepardson)
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Bayer executive: Airlines need to sign long-term agreements on greener fuels in order to increase volumes.
MONTREAL (Rtrs), June 3, 2008 - If airlines want to increase global volumes of lower-emission fuel needed for industry climate goals, they need to sign long-term agreements that will allow them to purchase larger quantities of sustainable aviation. The International Air Transport Association's airline members are committed to the goal of zero net emissions by 2050, despite warnings from experts that they will have difficulty meeting such sustainability goals because of low production of SAF - which is more costly than conventional jet fuel. IATA, who concluded a summit in India Tuesday, expects sustainable aviation fuel production to double by 2025, reaching 2 million tons, or 0.7% of airline fuel consumption. In Montreal, Matthias Berninger said that while airlines have asked for more action from energy companies and partners to increase SAF volume, there should be more long-term purchasing of the fuel. This is similar to certain commitments made in the renewable energy industry. Bayer's Monsanto division sells seeds and insecticides to farmers that grow crops used as biomass feedstocks for biofuels. Berninger said that if airlines commit to buying a certain quantity over a period of time we can guarantee farmers will grow the crop and processors will process the crop. Berninger spoke on the sidelines the International Civil Aviation Organization’s aviation climate week. "And whether or not this supply meets the demand (market) depends on the long-term buying contracts of the airline sector sending a very clearly defined demand signal similar to what we currently have in the renewables space." SAF is made from plants, waste, cooking oil, and other products. (Allison Lampert, Montreal; Editing and proofreading by David Gregorio).
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Aerospace and airline industries warn that US tariffs may put safety at risk.
On Tuesday, groups representing U.S. and global airlines warned that new tariffs on imports of commercial aircraft, jet engine parts and other components could threaten air safety or the supply chain, and have unintended consequences. After President Donald Trump announced in April sweeping duties against trade partners, the industry is already facing 10% tariffs. The Commerce Department launched an investigation called Section 232 last month to examine the risks imported goods pose to U.S. security. This could lead to even higher tariffs for imported planes, engines, and parts. In a recent filing, the Aerospace Industries Association (which represents Boeing, Airbus and hundreds of other aerospace companies) urged the Commerce Department to extend the period for public comments on Section 232 from 90 days to 180 days, and not impose any new tariffs during that time. The group also urged for further consultations with the industry regarding "any Section 232 Tariffs" to ensure that they accurately reflect national safety concerns and don't put supply chain and aviation security at risk. The AIA highlighted the impact of a fire that occurred at a Pennsylvania aerospace fastener manufacturer in February on production, and the difficulty in finding parts from new suppliers. The group stated that it could take as long as 10 years to find a new supplier in the country and to ensure they have all of the necessary safety certifications. Airlines for America warns that tariffs will increase the cost of shipping and plane tickets. The airlines stated in comments filed with the Commerce Department that "injecting higher costs will weaken our economy and national security, and have a debilitating effect on the domestic commercial aircraft industry's capacity to grow, compete and innovate." The trade group warned that the tariffs could destabilize the aviation supply chain and lead to more counterfeit parts being sold. They also said the tariffs would have unintended and unexpected consequences. Airlines and manufacturers are lobbying Trump for a return to the tariff-free regime of the 1979 Civil Aircraft Agreement. The U.S. sector benefited from a $75 billion trade surplus each year. The agreement stipulates that parts must be approved by the Federal Aviation Administration in order to qualify for tariff-free status. (Reporting and editing by David Shepardson, Nia Williams and Chizu Nomiyama)
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Beta Technologies performs the first all-electric aircraft touchdown
Beta Technologies, the company and port officials announced on Tuesday that it was the first U.S. firm to land an electric aircraft in the New York/New Jersey area. In a press release, the airline said that a flight from New York to John F. Kennedy International Airport took 45 minutes. The pilot was accompanied by four passengers. Airlines and transportation companies are developing services that use electric aircraft powered by batteries, which can land and take off vertically. This allows them to transport travelers on short city trips while avoiding traffic. The Federal Aviation Administration (FAA) finalized in October comprehensive training and certification rules for air taxi pilots. They called it "the last piece of the puzzle" for safely introducing this aircraft in the near future. Beta also raised $318 in equity capital for production, certification and commercialization of its electric aircraft. This brings the total value raised to over $1 billion. The Vermont-based firm was founded in 2017. Kyle Clark, the CEO and founder, stated in a statement that the aircraft had undergone years of safety testing. (Reporting by Aishwarya Jain in Bengaluru; Editing by Maju Samuel)
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Venture Global shares increase after it announces CP2 site work
Venture Global Inc.'s shares rose nearly 20% on Tuesday, after the Louisiana-based producer of LNG announced that it had started construction on its proposed CP2 facility in the state following federal approval. CP2 is the largest LNG export facility for the United States, with a capacity of 20 million metric tons per year. This will help the nation remain competitive. The world's largest supercooled gas exporter The company stated that CP2 expects to deliver the first LNG in 2027, and has already made significant progress in terms of engineering, procurement, and contracting. Venture Global stated that off-site maintenance of the modules and equipment at the plant will help to speed up construction. Venture Global is yet to officially approve the final financial approval of the project. Venture Global will be the biggest LNG exporter of the U.S. if the project is built. Cheniere Energy will not even come close. (Editing by Nick Zieminski).
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Norway explores sale of Norwegian Air's remaining stake
Norwegian Air announced on Tuesday that the Norwegian government had begun to explore the possibility of selling its remaining 6.26% share in the airline. In a press release, the airline stated that the Ministry of Trade, Industry and Fisheries was considering selling up to 65.582,436 company shares, which is equivalent to about 6.26%. Norwegian Air stated that if the buyer and seller are satisfied with the price and demand of the offer, they may sell their entire stake in the company. The company said that the price of the offering would be determined by an accelerated bookbuilding procedure and in Norwegian crowns. Norwegian Air shares closed Tuesday at 14.06 crowns before the announcement. The government stake in Norwegian Air would be worth approximately 922 million Norwegian Crowns (91 million dollars) at that price. Last month, the Norwegian government announced that it would convert half of the loan given to Norwegian Air in response to the pandemic crisis into a 6.37 percent stake in the airline. At the time, the government stated that it would consider divesting its remaining stake in the airline based on the developments of the company and the market.
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Sources say that Trump's job cuts have hampered the NOAA team responsible for reopening ports following hurricanes.
Two sources familiar with this matter say that the Trump administration's widespread reductions in federal staff have left a Florida-based emergency response team, which reopens U.S. port after storms or accidents, unstaffed during hurricane season. Sources said that the closure of the National Oceanographic and Atmospheric Administration Navigation Response Team, located in Fernandina Florida, one of six locations across the country, could result in slower response times and more port closures this summer if hurricanes hit the U.S. Southeast. Teams are responsible for deploying survey vessels into ports to identify underwater hazards which must be removed to reopen the shipping. They have proven to be crucial after major storms such as those that hit the Gulf Coast recently, or disasters such as the collapse of the Francis Scott Key Bridge, Baltimore, in 2024. Former NOAA Administrator Richard Spinrad has been in touch with the agency and said, "I am aware that the Florida Navigation Response Team is out of commission this hurricane season due in part to staffing reductions." Retired rear Admiral Tim Gaulladet who served as NOAA administrator under the first Trump administration, said that he was aware that the Florida office is no longer staffed and that other offices are less able. NOAA didn't respond to specific questions about the Florida NRT or the reduced staffing of the NRT, but it did say that the agency will be prepared for this hurricane season. NOAA's Jasmine Blackwell, a spokesperson for the agency, said that in the event of a maritime disaster or hurricane affecting ports, NOAA would mobilize one or several Navigation Response Teams after receiving a formal request from the U.S. Coast Guard. NRT also has locations in Connecticut, Maryland and Mississippi. Washington state is another location, as well as Galveston, Texas, a major oil-industry port. According to archived images, the NRT home page was updated in March, removing both the Florida and Galveston locations. NOAA has not responded to inquiries about other locations or employees. The American Pilots Association didn't directly comment on these cuts, but they said that they would ensure that their members - harbor pilots, who guide commercial vessels in and out U.S. port - will continue to perform this function, and that both ship captains as well as harbor pilots will have the resources needed to protect maritime commerce. A SEASON ABOVE THE AVERAGE NOAA's National Weather Service forecast in May a hurricane season above average from June 1 to November 30 with 6-10 hurricanes. Ken Graham, its director, stated at the time that he didn't expect NOAA job cuts to have an impact on hurricane response. Sources said that the agency has been stretched thin by staff cuts of around 1,000 employees or 10%. Tom Fahy is the legislative director of the National Weather Service Employees Organization. The cuts will result in the first-ever loss of round-the-clock weather forecasting staff at some U.S. offices and a 40% staffing shortage in certain key areas like Miami-Dade, Key West and Florida. He said that at least six NWS offices had also stopped their routine launch of weather balloons twice a day to collect data for the weather models. He said that the employees' resilience had been stretched to breaking point. NOAA is rearranging staff in order to maintain services, but a series of simultaneous weather events, such as tornadoes, hurricanes and wildfires, could put the staff at its limit and render it impossible. He said, "This is like Whac-a-Mole for forecasters." "We will be hard-pressed to maintain the service standard that the public has come to expect." (Reporting and editing by Alistair Bell; Additional reporting by Lisa Baertlein, Valerie Volcovici).
Nawrocki, a Polish eurosceptic, wins the presidential vote according to the electoral commission
The electoral commission announced early Monday that Karol Nawrocki, the candidate of the Polish nationalist opposition in the presidential election, won the second round with 50.89% of the votes.
Rafal Trozaskowski, liberal Warsaw Mayor and ally of Donald Tusk's government, received 49.11%.
Nawrocki (42), a eurosceptic history and amateur boxer, who ran a National Remembrance Institute, campaigned with a promise that economic and social policies would favour Poles, over other nationalities including refugees from the neighbouring Ukraine.
The president has the power to veto any legislation. This vote was closely watched in Ukraine, Russia, the United States, and throughout the European Union.
On the social media platform X Andrzej duda, who is also a conservative president, thanked Poles, for voting in such large numbers. The electoral commission reported a turnout of 71.31%. This is a record number for a second round presidential election.
"Thank you! "Thank you!" The turnout. You have done your civic duty. You are responsible for Poland. Congratulations to the winner. "Stay strong Poland!" Duda wrote.
(source: Reuters)