Latest News
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Esentia will increase its natural gas transport capacity by 50% within five years.
By Adriana Barrera MEXICO CITY. Dec 2. Esentia's CEO announced on Tuesday that the company plans to increase its natural gas transportation capacity by 50% in the third phase of a five-year expansion program, betting on a growing demand. In late November, the company raised $457m in its initial public offering to finance expansion and reduce debt. Daniel Bustos, Esentia's CEO, said that the company will expand its interconnected system to 660 million cubic feet. * Esentia has more than 2,000 km (1,243 mi) of pipelines known as the Waha System or Wahalajara, that transport low-cost gas from Waha in Texas to major industrial centres in central-western Mexico including Guadalajara. * Mexico has a high deficit in natural gas production. It meets its needs by importing it from the United States via a pipeline system. The government of President Claudia Sheinbaum aims to reduce this dependence by 40% and increase natural gas production to 5 billion cubic foot per day by 2030. * Bustos stated that there is a "co-dependence" between the U.S. and Mexico natural gas trade. The United States must deliver natural gas because they can't produce oil without it. (Reporting and editing by Kyry Madry; Adriana Barrera, Adriana Barrera)
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Trump Administration to revamp Washington's Dulles Airport
On Tuesday, President Donald Trump said that his administration wanted to revamp Dulles International Airport, near Washington, D.C., describing it as "not a great airport." In October, Trump’s motorcade drove through the airport's property without prior notice to evaluate future projects. "We will also rebuild Dulles Airport, because it is not a good one. It should be an excellent airport. Trump told his cabinet during a meeting at the White House that it's not at all a good airport. "They have a beautiful building but a terrible airport." Trump has revealed a new design of Dulles Airport, which was opened in 1962. It is owned by federal government. The Terminal Building was designed by Finnish architect Eero Sárinen. It is a unique building with a roof that slopes upwards on both sides. Dulles International Airport, located about 25 miles away from Washington, D.C., in Virginia, serves about 27 million passengers per year. The Metropolitan Washington Airports Authority operates the airport. It is a major hub for United Airlines. The authority that operates the airport on a 50-year leased approved by Congress declined to comment. Sean Duffy, Transportation Secretary, said that the Department plans to issue a request for proposals to replace shuttle vehicles (also known as "mobile lounges") which transport passengers from the terminal to planes. Two separate collisions with mobile lounges in November brought attention to the system. The airport authority approved in July a masterplan to expand the airport from 130 gates to 38 gates and 38 million passengers by 2030. By 2045, it will be 45 gates and 45 millions passengers. It will eventually serve 90 gates and 90 million passengers. At present, the airport has 130 gates. Reporting by David Shepardson and Doina Chiacu; editing by Les Adler
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Rollins: US will announce a 'bridge payment for farmers' next week
Agriculture Secretary Brooke Rollins announced on Tuesday that Trump's administration would announce next week a "bridge-payment" to farmers. The payment is intended to provide a short-term solution while the longer trade and assistance packages are finalized. Republican legislators and farm groups Have pushed The administration will issue aid to farmers who are facing low crop prices, and lost sales of billions of dollars in soybeans to China as a result during the tensioned trade talks between China and the United States. "We have a payment for a bridge." Rollins said to Trump during a Cabinet meeting at the White House: "We'll announce with you next Monday." The "One Big Beautiful Bill", as Trump's spending bill is known, has expanded some farm support but farm groups claim that growers require additional funding now to support planting the next crop year. According to U.S. Department of Agriculture (USDA) data, it is expected that the U.S. Government will spend over $40 billion in payments to farmers by 2025. This would be the second highest amount since 1933. Ad-hoc economic and disaster aid. AID AMOUNT IS STILL UNCLEAR John Boozman of the Senate Agriculture Committee and John Hoeven from North Dakota, the chair of Senate Agriculture Appropriations Committee, both said that they expected some assistance to reach farmers before the end of this year but were waiting for the administration to decide on the amount and the timing. Hoeven said, "I am not sure of the exact amount but we'll see. I think they are still working on it." Boozman stated that one of the challenges was to get aid out as quickly as possible, given the delay caused by the 43-day shutdown. "The need for it is there." Boozman explained that our farmers are currently in a position where they're losing money if they're trying to grow anything out of the soil. Boozman stated that the money for the aid would come from the Commodity Credit Corporation. This is a USDA discretionary funding pool. The White House is still looking for other funding sources.
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CPC rushes to complete Black Sea mooring repair in order to maintain oil production after drone attack
Five sources confirmed on Tuesday that the Caspian Pipeline Consortium is aiming to finish repairs on its third SPM-3 single point mooring at its Black Sea Terminal ahead of schedule. The consortium wants to restore its full CPC Blend export capacity following a drone strike which damaged one of their other moorings. Sources familiar with the situation have confirmed that SPM-3 will be back in operation in the next 7 days. The repairs were originally planned to take two months. CPC has halted operations after a drone attack by the Ukrainian navy caused significant damage to its SPM-2 mooring. Sources say that its repairs will take several months. They also add that the exact timeframe of repairs or replacement is currently being studied. A spokesperson for the consortium, whose shareholders include Russians, Kazakhs and U.S. companies, declined to comment. CPC resumed loading limited cargo from the remaining operational docking Monday. Sources claim that it is operating at less than half of its normal capacity. They said that with two of the three SPMs on line, exports will be restored to their full level. A source from a company that supplies oil to CPC said, "It's critical to get the second mooring in operation. Otherwise, suppliers could face production cuts." Sources declined to name themselves as they were not authorized to speak with the media. According to an initial plan, CPC Blend oil from the Black Sea is expected to increase to 1.7 millions barrels per day in December. This compares to around 1.45million bpd during November. Sources warned, however, that the plan may be revised down depending on how quickly repairs are completed.
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Nigerian President appoints former top general as Defence Minister
Bola Tinubu has nominated the former Nigerian top general as the new defence minister. The previous minister resigned due to a surge of mass kidnappings in the north and Islamist attacks, which led to the declaration of a state emergency. Christopher Musa (58) served as Nigeria’s Chief of Defence Staff between 2023 and October of this year. He will succeed Mohammed Badaru Abubakar who, as a former regional Governor, quit his position as Defence Minister on Monday for health reasons. Tinubu sent the nomination to the parliament in a written letter, according to the President's Office. In a press release, his spokesperson Bayo onanuga stated that Tinubu had expressed confidence in Musa's abilities to lead the Ministry of Defence as well as strengthen Nigeria's Security Architecture. Tinubu announced the appointment just days after Tinubu a Security emergency In response to the worsening violence. More than 200 schoolchildren The gunmen who kidnapped the students from a Catholic School on November 24, remain unaccounted for. According to the United Nations, at least 402 persons have been abducted since mid November. Tinubu ordered the recruitment and enlistment of more than 50,000 police officers. He also directed the redeployment of police who were assigned to guard VIPs to the frontline. Forest guards were also deployed to flush out armed groups. Cheta Nwanze is a partner at SBM Intelligence. She said that insecurity was spreading into Nigeria from the Sahel region. Nwanze said that the change of personnel was not enough. A fundamentally new approach to security, one that is based on community trust, must be adopted. This should address both internal governance issues and regional threats. Donald Trump, the U.S. president, has been closely monitoring Nigeria's treatment of Christians. He threatened military action last month over this issue. Nigeria claims that claims of persecution against Christians are inaccurate and ignore efforts to protect religious freedom. Washington is considering counterterrorism actions, including engagement and sanctions, according to a senior U.S. State Department Official on November 20. Reporting by Ahmed Kingimi; Writing by Elisha Gbogbo, Ben Ezeamalu and Alexander Smith.
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Traxtion invests $199 Million in new trains as part of South African rail reform
Traxtion announced on Tuesday that it will invest 3.4 billion Rand ($199 million) into new locomotives and wagons, as the freight company prepares for its first run of trains on South Africa’s mainlines after reforms open the network to private operators. Transnet, the state-owned railway operator, has been struggling to deliver reliable services due to equipment shortages and maintenance delays after years of underinvestment. Cable theft and vandalism have further hindered the network. Traxtion's investment, which is active in 10 African nations, signals a growing confidence of the private sector in rail reform. It also gives a boost to the efforts to move cargo from roads to rail. The increased capacity could ease a national shortage that has been weighing on commodity exporters. The investment consists of 1.8 billion rand for 46 diesel-electric engines and 1.6 million rand for 920 wagons. The state-owned KiwiRail in New Zealand will supply the locomotives. They are expected to begin operating within 12 months. Traxtion CEO James Holley said to reporters that the new trains would be able to handle about 5% demand. He said: "We're confident that there is a demand for high-quality assets with high capacity that are available at an affordable price and can be brought to the market very quickly." Holley stated that the locomotives would be used primarily on routes for bulk commodities, as they were economically viable due to the state of the rail infrastructure. He did not mention the routes, but said that the company had already begun discussions with customers. Transnet's limited production capacity has forced bulk mineral exporters like Kumba Iron Ore, Thungela Resources and thermal coal exporter Kumba Iron Ore to reduce their production.
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Owner of damaged oil tanker near Senegal announces it will cease all Russian operations
Besiktas Shipping - the Turkish owner who owns an oil tanker damaged by four external explosions last week near Senegal - announced on Tuesday that all Russian interests in its shipping operations would be discontinued. Mersin was anchored near Dakar on November 27 when four explosions caused seawater to enter the engine room. The explosions' cause was not known. Besiktas Shipping announced in a press release that it had ceased all operations with Russia and would not be taking any voyages related to Russia. It said: "Throughout our operations we adhered strictly to all international sanction regimes. We maintained full compliance with all relevant trade restrictions and the G7/EU price cap mechanism." The security situation has deteriorated in the area. "After a thorough analysis, we concluded that the risk posed to our ships and crew has become unacceptably high," the statement added. We have halted all operations of this nature because the safety and security of our personnel is our top priority. A Ukrainian official stated on Saturday that the blasts occurred a day after Ukrainian naval drones struck two sanctioned oil tankers near Turkey's coastline in the Black Sea as they were heading to a Russian Port to load oil. A second tanker, this one carrying sunflower oil and flying the Russian flag, reported a drone strike off the Turkish coast Tuesday. Ukraine denied involvement in the recent attack. However, a Turkish official stated that "necessary message" was conveyed to everyone involved, including Ukrainian authorities. According to its website, Besiktas Shipping of Istanbul is one of the largest tanker owners in Turkey. It has 29 tanks in its fleet. Enes Tunagur, Tuvan Gumrukcu and Sharon Singleton contributed to this report.
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Michael and Susan Dell will invest $250 in the accounts of 25,000,000 U.S. Children
Michael Dell and Susan Dell, as part of Invest America's $6.25 billion philanthropic initiative, will each deposit $250 into the accounts of 25,000,000 American children. This initiative was launched this year as part of President Donald Trump's One Big Beautiful Bill Act. The U.S. Treasury Department will deposit $1,000 in investment accounts for every child born between 2025-2028. At age 18, the funds, which must be invested in a fund that reflects the performance of the stock market, are available for education, training, buying a home, or starting a small business. The Dells released a statement saying that they believed this initiative would expand opportunities, strengthen communities and help more kids take control of their own future.
Brazil's Lula Lula and Trump discuss sanctions, trade in a phone call
Both sides reported that U.S. president Donald Trump and Brazilian president Luiz inacio Lula da silva discussed trade, economy, and fighting organized criminality during a telephone call they had on Tuesday.
In a press conference at the White House on Monday, Trump told reporters that he and Bolsonaro also discussed sanctions. This was an apparent reference regarding the targeting of the Brazilian judiciary by his administration over the criminal trial of former right-wing President Jairbolsonaro.
Trump claimed that he and Lula had "a great conversation". We discussed trade. We discussed sanctions because, as you may know, I sanctioned certain events that occurred."
In a subsequent social media post, Trump stated that he was looking forward to meeting and speaking with Lula in the near future, adding, "Much good will be derived from this newly formed partnership!"
Brazil's Presidential Palace said that Lula had thanked Trump in a press release for his decision to remove tariffs on U.S. imported Brazilian goods, including beef and coffee. It also added that Brazil hoped to make progress with the talks regarding products that were still subject to levies.
Trump removed last month the tariffs of 40% on several Brazilian products including cocoa, fruits and other food items that he announced in July as a punishment for Brazil's prosecution of Bolsonaro - a Trump ally.
Lula, in a statement, also stressed that it was urgent to strengthen cooperation with the United States for the fight against international organized crime during the 40-minute phone call held on Tuesday. The Brazilian Presidential Palace called the conversation "very productive."
The two leaders met amid a series of recent U.S. military actions in the region. These include a massive build-up in the Caribbean, and three months' worth of U.S. airstrikes on suspected drug ships off Venezuelan coast. (Reporting from Lisandra paraguassu, Brasilia. Additional reporting by Andre Romani, Sao Paulo; Trevor Hunnicutt & Jeff Mason in Washington; Costas Pitas. Editing by Natalia Siniawski & Matthew Lewis & Bill Berkrot.
(source: Reuters)