Latest News
-
Thirteen die in tourist plane crash over Peru's Nazca Lines
Authorities in Nazca Province said that a?small tourist aircraft crashed Saturday while flying over the 'Nazca lines archaeological site' in southern Peru. Thirteen people were killed. In a press release, the Peruvian Ministry of Commerce and Tourism stated that 11 foreign tourists and 2 crew members were aboard. Local authorities reported that the plane crashed near Pueblo Viejo. This is approximately 6 km (4miles) away from the city of Nazca, and about 12 km (7miles) from Nazca Lines. Local authorities reported that the small plane was owned by the local Peruvian carrier Aerodiana and took off from Pisco Airport. The company did not respond to requests for comment. According to reports from the local press, it happened at 12:55?pm. The plane was on a sightseeing flight at the time and was preparing to return. According to RPP, the Peruvian radio station, after the crash, a fire broke out in the plane, rendering any rescue efforts impossible. Firefighters, police officers and municipal officials were sent to put out the fire and begin initial rescue operations. Local authorities have said that they will conduct an investigation to determine the cause of this crash. Social media footage shared showed what appeared to be the wreckage of a small aircraft on an arid landscape. I was unable independently to verify the footage. Nazca Lines are a series of geometric and huge drawings etched in the desert plains of southern Peru. They attract around 100,000 tourists annually. The Nazca Lines are usually viewed from small aircraft that fly over the site. The Nazca 'lines were suspended Friday because of winds above 40 kph, which caused dust to be blown around and reduced visibility. Local media reported that strong winds forced two small planes carrying Peruvian tourists, and six other aircraft carrying foreigners to divert their flights to Marcona Airport.
-
Crimean families line up for hot food as Ukraine cuts power supply
A chef prepared to serve dozens if people who were waiting for a hot meal after Ukrainian attacks had cut off power in their kitchens. Fuel supplies in cities and towns throughout Crimea, the area that Russia annexed as part of Ukraine in 2014, were limited for most of the summer due to Ukrainian attacks on power plants and other infrastructure. Ukraine says that it is "bringing the war home to Russia" through intensified strikes on the territory and deep within the country controlled by its neighbor. Oksana Mdyud, the head of Massandra's town administration, said that her workers serve 200 people a day. She said, "We are preparing hot meals because not everyone can cook food hot on an electric stove." Marina, a local woman, complained that her leg pain made it difficult to descend from her 10th floor?apartment, but her lack of electricity sent her on a 'hunt' for a gas cooker and cylinders. She said that her apartment was empty. "We have an electric cooker, that's all." Alexandra, a resident of a nearby older age, also said that she was lured by the aroma of the food after being without electricity for 10 days. She added that "they turned it back on today at 4 o'clock", but was not sure if the lights would be still on when she got home. Reporting by Lucy Papachristou, Writing by Andrew Heavens
-
Iraq is expecting to extend pipeline agreement with Turkey, INA reports
Iraq is planning to sign a?agreement for a year to continue Iraqi crude?flows?through?the Turkish?port of Ceyhan. This was announced by the oil ministry, according to Iraqi News Agency. The agreement would renew a 'decades long bilateral arrangement which expired on Monday, which allowed the operation of Baghdad’s 'only working export pipeline, the Iraq Turkey Pipeline (ITP). Salim al Rikabi, INA's spokesman, said that Iraq's Oil Minister is visiting Turkey on Saturday to sign an agreement providing for a daily capacity of 750,000 barallons. The extension will give time to negotiate a comprehensive agreement. The Turkish government wants the pipeline with its?capacity to transport 1.5 million barrels of oil per day to be fully utilised, and possibly extended to southern Iraqi fields. According to Turkish data, the pipeline currently carries?170,000 barrels per day.
-
UKMTO reports two incidents of tanker accidents off Oman
The 'United Kingdom Maritime Trade Operations' (UKMTO), a division of the United Kingdom Government, said : "On Saturday we received reports...of two maritime incidents...off Oman. One incident involved a tanker that was hit by an unknown projectile." UKMTO reported that in the first incident a tanker struck by a projectile unknown about 11 nautical miles northeast of Oman’s Lima. The damage to the engine room left the vessel without command. The UKMTO said that there were no reports of casualties or environmental impacts. Later, the UKMTO reported that it received a second report of an incident?21 nautical mile northeast of Oman’s Khasab. The tanker's master reported a large explosion and splash in close proximity to his vessel. However, no damage was reported. Lima and Khasab lie on Oman's Musandam Peninsula, at the entrance to the Strait of Hormuz. This is a strategic shipping chokepoint through which a fifth of the world's oil consumption passes. In recent weeks, shipping through the Strait of Hormuz was a risky endeavor. Ships reported security incidents and shipowners took 'additional measures' as hostilities between Iran and the United States escalated. Reporting by Hatem Mahar and Enas Alashray; Editing By William Mallard & Kirsten Donovan
-
India's record renewable power generation in July reduces coal's share to a 1-year low
In July, the share of coal in India's power generation mix fell to its lowest level?in an entire year as renewable energy production surged?to a new record high. The data revealed that renewable power has risen to 20% of India's total mix. The data showed that the number of kilowatt hours (kWh) consumed in July was 36.25, a 30% increase from last year. Grid-India, the state-run regulator, calculated that coal-power generation dropped to 65.7% from 69% in July. India's clean energy generation has risen as solar and wind output have exceeded 100 gigawatts. This is the first time that this figure was higher than 42.8%. Manoj Kumar, analyst at the Centre for Research on Energy and Clean Air said that the majority of peak power demand occurs during the daytime, when solar contributes more. He cited a rising renewable share in the nation's electricity generation. The data revealed that coal-fired electricity generation increased by 12.8% on an annual basis to 119.40 Gigawatt Hours in July. Analysts attribute the rise in coal-power production to a decline in hydropower and due to an El Nino pattern where "searing heat" is driving the demand for cooling at night. El Nino has caused a significant shift in rainfall patterns and elevated temperatures. This is why hydropower generation fell for the second consecutive month. CREA stated that the lower hydro generation due to El Nino combined with increased power demand could result in a gap in power generation of nearly 18 billion kWh. This will lead to an increase in coal-fired energy in India. Data showed that India's electricity production in July increased 10.4% compared to a year ago, reaching 181.79 billion kWh. Sethuraman N.R.; William Mallard, Editor
-
In the shadow of the Berlin attacks, thousands are expected to gather in Amsterdam for a boisterous WorldPride.
The WorldPride flagship event will take place on Saturday in Amsterdam, with hundreds of thousands of revellers expected to line the canals. Organisers promise a 'boisterous' LGBT celebration. This is especially urgent following last week's deadly attack at Berlin's Pride. Scores of boats and balloons festooned in 'rainbow' flags will cruise through the city as huge crowds dressed in colorful outfits cheer on the banks. Amsterdam Pride's annual canal parade is a highlight. This year, Pride organizers around the world chose Amsterdam to host WorldPride. The theme of the two-week festival in the Netherlands will be "Unity". Security measures that are visible and covert Femke Halsema, the mayor of Amsterdam, said that Amsterdam would take additional measures without specifying them in response to an attack in Berlin where a van had been driven into a crowd and a suspect was later killed by German police. Dutch police have said that both covert and visible security measures will be deployed. Amsterdam Pride spokesperson said that the preparations were on track and the extra security wouldn't change the focus of the event, which is still inclusiveness. Martijn Albers, spokesperson for the Dutch government, said: "The goal of terrorism is spreading fear. We must not succumb to this." BERLIN ATTACK SHOWS IMPORTANCE PRIDE Julianne van der Hide, 25, who will be on a boat this Saturday, says the Berlin attacks only prove "how necessary and important Pride is still to today". On Tuesday, thousands attended a ceremony to honor the victims of the Berlin attack. They laid?flowers on the "Homomonument" in Amsterdam, a memorial of pink granite triangles that commemorates victims of anti gay oppression. Caspar Pisters, of the Dutch HIV Association said that everyone would be thinking about the Berlin attack. But he added, "As long there are people there will always be LGBTQ+ people. And no amount of violence, not even a thousand bombs, can change that." Mick Groeneveld, from Queer Museum, a group that is working to create a permanent LGBT museum for the Netherlands, stated the attack showed the vulnerability of the LGBT community. "At the Same Time, Making Ourselves Invisible is Not the Answer." (Reporting and editing by Peter Graff. Charlotte Van Campenhout)
-
Yemen's Houthis have denied plans to charge ships navigating through the Red Sea fees
Yemen's Houthi-run maritime coordination group denied on Saturday that it intended to impose fees on commercial ships that?transit the strait of Bab?el?Mandeb. It said that no such decision had yet been made and that passage along the strategic waterway was free. The statement comes after a report Wednesday, citing regional sources that Iran-aligned Houthis considered imposing "fees" on ships traveling through the southern Red Sea, just a week following their declaration of a maritime blockade against Saudi Arabia. Sources?in the article had stated that?the proposal regarding fees?was discussed by Iranian officials with Houthi officials during their visit to Tehran in July. However, no timeframe had been set for its implementation. The Houthi Humanitarian Operation Coordination?Center's (HOCC) "safe transit" service is a free and voluntary service. The HOCC issued a statement that categorically affirmed that anyone or any entity requesting money to transit the Bab el-Mandeb strait in exchange for the Republic of Yemen -or HOCC- in any capacity, does not'represent the Republic of Yemen -or HOCC. The HOCC urged shipping companies to "not make 'any payments' or give any information to unauthorized persons or entities." (Reporting and editing by Tom Hogue; Mohammed Ghobari)
-
Official from the White House confirms that no drones with weapons were seized at the FIFA World Cup
A White House official stated on Friday that among the '700 drones found at U.S. FIFA World Cup venues and fan zones, none were weaponized. Sebastian Gorka, White House Senior Director for Counterterrorism and Deputy Assistant to President Sebastian Gorka, told reporters during a drone conference in Washington, D.C. that "no weaponized drones have been seized." He claimed that the incidents were caused by hobbyists or others who did not know about flight restrictions set forth by the Federal Aviation Administration. Gorka stated, "They are just doing dumb things but we need to mitigate them." Gorka stated that the Trump administration recently held a meeting of senior officials to discuss the seriousness of drone threats. Gorka added that software solutions were key in keeping drones from violating airspace. All aircraft operations including drones were banned on match days of the World Cup within a three nautical mile radius? and up to 3,000 feet (914 m) above ground? around the?soccer?stadiums. This was only allowed if specifically authorized by air traffic control. The FAA has imposed temporary flight restrictions to ban drones near World Cup sites. Drones were banned from fan gatherings within a radius of one nautical mile and up to 1,000 feet above the ground. Gorka stated that the Homeland Security Department will release a report about counter-drones efforts during the World Cup. Reporting by David Shepardson, Editing by Chizu?Nomiyama and Rod Nickel
Maguire: Winners and losers of the US rollback on climate policies
The repeal of the federal climate regulations that were the basis for U.S. energy regulation has thrown off the narratives about which sectors will win or lose in U.S. energy. The repeal of so-called Endangerment Findings removes the legal foundation for federal regulations of climate gas emissions, as well as a number of other rules that govern?pollution and the uptake of new clean energy technologies. Imminent court challenges are likely to cloud the picture on the impact of the repeal in the short term for various sectors. Regulators, utilities, companies, and communities will all be working to fill the regulatory vacuum that results.
It is possible to draw some rough conclusions about which sectors will benefit and which ones may be affected by the new federal pollution standards, now that they have been diluted for the near future.
CUT TO COMPLIANCE
The repeal of federal emission laws will create a less regulated environment that is expected to be beneficial for firms engaged in the mining, distribution and combustion of fossil fuels as a source of power.
The repeal of federal emissions regulations will be a big win for utilities with large coal and gas portfolios, since compliance costs and regulatory risks are likely to drop dramatically.
Investors have certainly been more positive about the sector after the news of the repeal was announced. The stock prices for American Electric Power and Duke Energy, as well as NRG, all moved higher in recent sessions.
Southern Company, and other fossil-fuel-reliant power systems, have gained ground as well since the news. This suggests that investors are seeing greater upside potential in power networks which primarily burn fossil fuels for electricity generation.
Since the announcement of the repeal, shares of Peabody Energy - the U.S.'s largest coal miner - have also gained in value.
CLEAN TECH SETBACKS
Stocks linked to clean energy technologies and EV charging networks, as well as cutting-edge energy storage capabilities, have done less well since the repeal announcement, because the federally-driven momentum towards cleaner energy has lost steam.
Vestas, the Danish manufacturer of offshore wind turbines, has seen its stock price come under fresh pressure after the news of repeal. This is likely to further erode U.S. interest offshore wind projects.
Quantumscape, a U.S.-based solid-state battery manufacturer, also saw its shares fall as investors interpreted that the regulatory pivot would likely slow down the U.S. rollout of EVs.
EVgo, the operator of charging stations, was also tarred in the same way. Shares fell to their lowest level since mid-2024 just after the news about the repeal became official.
Recently, companies that provide software and services to manage grids and store energy have also suffered as the public's attention has shifted from traditional energy providers towards industries that facilitate energy transition.
After the news of repeal was revealed, shares in STEM (an AI-driven company that helps utilities manage grid power flow) and Itron (a maker if sensors used by utilities for grid management) also suffered.
WHAT'S NEXT?
Even though investor sentiment has changed significantly in the U.S. Energy space since the Endangerment Finding repealed, there is no guarantee that fossil fuel companies are going to consistently outperform their clean energy counterparts.
The emissions from fossil fuel utilities can be a major risk.
Ironically, the Environmental Protection Agency was in charge of regulating pollution under the old federal pollution rules and not the court system.
The shield that protects heavy polluters could disappear now that the EPA is no longer in charge of this oversight. This may open the door for new lawsuits from communities that are affected by the harmful discharge from power stations and other facilities.
The threat of lengthy hearings and lawsuits could deter some utilities from continuing to operate coal plants that are decades old, even though the regulatory pressure for them to be closed has been lifted.
Many utilities who are under pressure to increase power supplies will still view combination of renewables with battery systems as the fastest way to deploy this extra power regardless of the new emission rules.
This could support the widespread adoption of solar panels, and battery storage across the country as fossil fuel producers gear up to increase?supplies.
This means that, even though the federal U.S. regulations on pollution are expected to be "quickly scrapped", the major players in the production and distribution of energy in the U.S. could prove to be much slower than most people would expect to change their course.
These are the opinions of a columnist who writes for.
You like this article? Check it out
Open Interest
Follow ROI on Twitter for the latest global financial news. Follow ROI on
You can find us on LinkedIn.
Listen to the song
Morning Bid daily podcast
Spotify
Or the
. Subscribe to the podcast and hear the top news from markets and finance seven days a weeks.
(source: Reuters)