Latest News
-
US Housing Agency blames the 'Radical Left" for looming closure
The unusual message that appeared on the website of the U.S. Department of Housing and Urban Development Tuesday blamed Democrats for a possible government shutdown. A pop-up message on HUD.gov states: "The Radical Left will shut down the Government and inflict immense pain on the American People unless they receive their $1.5 trillion list of demands." The Trump administration wants the government to remain open for Americans. A bright red banner is displayed on HUD's site. Some Democrats were not surprised by the overtly political messaging. "We shouldn't be putting up political messages on the government websites," said Sylvia Garcia, Texas Representative and member of House Financial Services Committee subcommittee for housing and insurance. "I've never seen this kind of message. "I don't believe that would have been acceptable under any previous administration." Some Democrats claimed that HUD was merely repeating the rhetoric of President Donald Trump. Jamie Raskin, a Maryland representative, said: "Unfortunately, this has become the norm under the Trump administration. It's a radical departure in American history and the use of taxpayer money for overtly polemical and political reasons." The federal government will shut down in part at midnight on Tuesday night if Senate Democrats do not support a Republican House proposal to fund it for the next 7 weeks. Democrats rejected the so called clean continuing resolution (CR), instead calling on Republicans negotiate an extension to healthcare benefits that are set to expire by the end of this year. (Reporting and editing by Nolan D. McCaskill)
-
Officials say that construction of the Vaca Muerta Pipeline in Argentina has reached 35% completion.
Daniel Gonzalez, Argentina's energy minister, announced at a press conference that the construction of a pipeline that will transport oil from the Vaca-Muerta shale area to the coast was 35% completed. The holding company, led by YPF, will build the 437-kilometer Vaca Muerta South pipe to connect Argentina's main production area with a terminal at Rio Negro. This will increase export capacity and solve one of many bottlenecks for energy transport in the country. He told oil executives in Austin, Texas that "there's nothing I can think of to prevent the pipeline from being fully operational one year from now for the initial 360,000 barleys per day." He said that the pipeline's capacity could be as high as 750,000 bpd when its final phase has been completed. Only 5% has been developed at Vaca Muerta. This is the world's largest unconventional oil reserve, and a major source of energy to meet Argentina's energy needs. Currently, about 40% of the production is exported, and 60% is sold locally. However, this proportion will change, as Javier Milei’s policies to encourage exports are expected to increase, Gonzalez said. If producers in Argentina want to stay competitive, they must cut costs at home. This is especially true compared to other shale plays that are more developed like those in the He said.
-
Exxon CEO wants security assurances for the LNG terminal from Mozambique President, reports FT
Exxon Mobil's CEO Darren Woods raised concerns last week about the risk that an insurgency could pose to a $30 billion proposal. Gas terminal The Financial Times reported that the Mozambique government sought assurances of security from President Daniel Chapo prior to approving the project. Woods and Chapo discussed TotalEnergies' plans to resume work at a nearby liquefied gas (LNG), which is being developed by this French oil major, and lift a "force majeure", the FT reported, citing people familiar with the talks. In 2017, militants linked to the Islamic State launched an insurgency against the gas-rich northern province of Cabo Delgado, killing thousands of civilians. They also disrupted multi-billion dollar energy projects. Exxon also suffered when TotalEnergies declared a force majeure declaration in 2021 because of an insurgent offensive that threatened the Area 1 Mozambique Liquefied Natural Gas plant. This was due to shared and common facilities such as a LNG jetty, and an offloading facility. Exxon said in November of last year that it expected to be profitable by the end of this year. final investment decision Rovuma LNG project in Mozambique by 2026. A spokesperson for Exxon said that on Tuesday, the oil giant was working closely to ensure that the right conditions were met in order to allow the final investment decision to be made and the lifting of the force majeure status at the Rovuma LNG Project. Exxon, in partnership with Eni, is developing the Rovuma LNG Project in Area 4 offshore in northern Mozambique. It will produce 18 million metric tons per year (mtpa). Chapo, in an emailed response to the FT, said: "We are convinced that, if implemented properly, the Exxon Mobil Project will have a significant impact on the Mozambican economy and, consequently, the lives of Mozambicans." The Mozambican Presidency did not respond immediately to a comment request. Reporting by Rhea Abraham in Bengaluru, and Kanjyik in Barcelona. Editing by Mrigank and Marguerita.
-
Expand Energy CEO Expects US LNG Export Capacity to Nearly Double by End of 2030
Expand Energy, a natural gas producer, said on Tuesday that it expects U.S. Gulf Coast Liquefied Natural Gas (LNG) export capacity to nearly double by 2030 to 28 billion cubic feet per day. Expand Energy, one of the largest U.S. producers of gas, expects the demand for gas used to power AI and data centres to reach between 4 and 5 billion cubic feet (bcf) per day by the end the decade. CEO Domenic Del'Osso spoke at a conference on energy in Austin. Dell'Osso said that LNG markets would experience periods of excess supply before tightening. This is in line with recent concerns from TotalEnergies' CEO Patrick Pouyanne, who said that the U.S. had built too many liquefied gas plants, and this could lead to an ongoing glut if all projects were completed. Dell'Osso, announcing the volatility of markets, said that gas prices could rise to over $5.50 a million cubic feet and fall below $2.50 if all planned projects come online between now and 2027. Dell'Osso stated that while the Trump administration is in favor of expanding gas infrastructure, high costs and litigation are deterring factors. (Reporting and editing by Louise Heavens in Houston. Arathy S. Somasekhar, Houston)
-
Romania plans to purchase Abrams tanks for $7 billion-defence Ministry
In a Tuesday statement, the Romanian defence ministry asked for parliament's approval of a plan that would see hundreds of Abrams tanks, as well as parts, ammunition and training, valued at more than $7 billion. The European Union (EU) and NATO members signed a contract for the purchase of 54 Abrams tanks, from U.S. Army stock. The cost is $458.2 millions before VAT. This includes the purchase of ammunition, parts and simulators as well as technical support, training, and technical assistance for these tanks. The company also plans to purchase 216 additional tanks and parts at a cost of 6.49 billion euro ($7.6billion) before VAT. General Dynamics makes the Abrams. The statement did NOT specify when the equipment will be delivered. The top security council of the country, headed by President Nicusor, approves its defence acquisition strategies. Large purchases are subject to approval by Parliament. Romania shares a border of 650 km (400 miles) with Ukraine. It is home to an American ballistic missile defense system as well as a permanent NATO battle group. Since Russia began to attack Ukraine's infrastructure and ports across the Danube River from Romania, it has seen drones repeatedly breach its airspace. Andrius Kubilius, EU defence commissioner, said that countries on the eastern flank of the European Union, including Romania agreed on the necessity for a drone wall with advanced detection and tracking capabilities. Romania is also looking to partner with Ukraine in the construction of drones as part of a new European Union funding mechanism for defence. $1 = 0.8525 Euros (Reporting and Editing by Alex Richardson; Luiza Ilie)
-
France investigates suspected offenders by sanctioned Oil Tanker
The French Navy said on Tuesday that authorities were investigating an alleged infraction committed by the Benin flagged oil tanker Boracay. This vessel is listed as a Russian sanctioned vessel under British and European Union sanctions. A report was sent to the Brest public prosecutor office following a suspected offense by the Boracay vessel. The Navy announced in a press release that an investigation was underway. The crude oil tanker was sanctioned separately by the UK and EU in October 2024, and again in February 2025. The EU stated that the vessel was involved in the transportation of Russian crude oil, petroleum products and "high-risk" shipping practices. The UK stated that the vessel "was involved in activities whose purpose or effect was to destabilise Ukraine...or to gain a benefit or support from the Russian government" when it transported oil or oil products from Russia to third countries. Kiwala was the previous name of the vessel that changed its name in December 2024 to Boracay, or Pushpa on some shipping databases. Ships retain the same IMO number for their entire lives, but they can change names. Estonia released the Kiwala on April 20, 2025, after it was detained for not having a valid flag. The ship is part of a shadow fleet of Russian oil tankers that are involved in the Russian trade. They have no insurance or ownership, and they're usually older than 20 years. The crude oil tanker built in 2007 is currently anchored off the western coast of France, near Saint Nazaire. Reporting by Gabriel Stargardter, Paris; Jonathan Saul, London; and Richard Lough and Ed Osmond.
-
Hertz Global launches online marketplace for car buying
Hertz Global, a car rental company, announced on Tuesday that it has launched an online marketplace for buying used cars. After the news, shares of the company rose by as much as 2,5%. Hertz announced the announcement following its collaboration with Amazon.com Automotive Retail Platform, Amazon Autos to sell used vehicles. The company also said that it would offer customers the option of trade-ins. Hertz is facing a sluggish rental market, which has led it to abandon a large portion of its electric vehicle fleet and replace them with gas-powered vehicles over the last few years. Last year, the company sold off a majority its Teslas citing increased repair costs. Hertz Global is a car rental company that operates in 160 countries under the Dollar, Thrifty, and Firefly brands. Hertz Car Sales offers used vehicles for sale online and in locations throughout the U.S.
-
Russia declares partial diesel export ban until year-end, extends gasoline ban
The Russian government announced on Tuesday that it has extended the existing gasoline export prohibition until the end the year and imposed a partial export ban on diesel. Fuel shortages in Russia are a result of a series of attacks by the Ukrainians on Russian refineries. As Deputy Prime Minster Alexander Novak warned in advance, the measures were not unexpected. Last week, they were able to see them. In a press release, the government stated that it "continues its efforts to maintain stability on the domestic fuel markets." All exporters are subject to the gasoline export ban. This ban also applies to marine fuels and other gas oil. The ban only applies to resellers, not direct producers. Experts don't expect The restrictions will have a significant effect on fuel flow onto the domestic market. However, it is worth noting that Russia has an export ban. Tarif Non-producers are not eligible for diesel. These measures show how Ukraine has been able to knock out large chunks of Russia’s refining capability via drone attacks . Russia is the third largest oil producer in the world after Saudi Arabia is a country that has a long history. In a number Russian regions including the Far East and Nizhny Novgorod (east of Moscow), gasoline shortages were reported. Crimea is the area that Russia annexed in 2014 from Ukraine. Introduced gasoline rationing On Monday, the company announced that motorists will be limited to 30 litres of fuel at a given time. In an apparent effort to reduce public anger, it also implemented a price-freeze.
Boeing is focusing on the recovery but keeping an eye on the market for a new single-aisle aircraft
Boeing has said that it is focused solely on the recovery of its company, despite news reports about the U.S. aircraft manufacturer developing a single-aisle jet which will replace the 737 MAX, its best-selling plane.
Boeing spokesperson Ryan Cudney stated in an email that "Our teams are focused on our recovery plans, which include delivering our existing backlogs of nearly 6,000 aircraft and certifying new 737-7 and 737-10 models."
He said: "At the exact same time, just as we've done for decades, our team assesses the market, advances the key technologies, improves our financial performance so that we are ready to move forward when it is time to launch a new product."
Boeing's commercial plane division has faced a number of crises over the past few years. These include a mid-air crash of a new 737 MAX in 2024 and a 53 day strike that closed down most of Boeing's jet production.
In recent years, rival Airbus has received more orders for single-aisle aircraft. Airbus and Boeing websites show that since 2020, Airbus has received 4,540 net orders for its A320 jet family, after cancelling cancelled orders. This compares to 3,300 net order for the 737 MAX. (Reporting from Dan Catchpole, Seattle; Editing by Nick Zieminski).
(source: Reuters)