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Sources say that Russia's Tuapse has halted fuel imports following drone attacks and the refinery was shut down.
According to two industry sources, and LSEG ship tracking, Russia's Black Sea Port of Tuapse suspended fuel exports while the local refinery halted crude processing following the November 2 Ukrainian drone attack on its infrastructure. Ukraine announced on Sunday that its drones had struck Tuapse - one of Russia's major Black Sea oil port - causing an explosion and damage to at least one vessel. This was part of Kyiv’s effort to undermine Russia’s war economy through targeting its energy infrastructure. The regional administration confirmed that the strike caused an fire in the port. Since several months, Ukraine has been attacking Russian oil refineries and depots. Ukrainian energy infrastructure is also the target of Russian attacks in a conflict that has been going on for nearly four years. Sources said that the Rosneft controlled refinery, which exports the majority of its production, stopped processing the next day due to damage done to the port infrastructure. Rosneft, the Russian port agency and other companies did not respond to our requests for comments. Tuapse was expected to increase oil product exports by November before the attack. LSEG data shows that three tankers docked in the port for the loading of diesel, fuel oil, and naphtha during the attack. The data indicated that all vessels had been moved from their berths by Wednesday and were anchored in the vicinity of the port. The Tuapse export-oriented plant has a capacity of processing 240,000 barrels per day of oil. It produces naphtha as well as fuel oil, vacuum gasoline, and high sulphur diesel. The refinery supplies mainly China, Malaysia and Singapore. Reporting by Guy Faulconbridge; Editing by Tomasz Janowswki and Guy Faulconbridge
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Bpost Belgium lowers its capital expenditure plans following a surprise Q3 loss
Bpost, the Belgian postal service, reported a surprise operating loss in its third quarter, due to seasonal weakness, and lowered its capital expenditure guidance for this fiscal year. The adjusted loss before taxes and interest was $3.5 million, compared to the profit of $10.3 million euros from a year ago. Analysts surveyed by the company expected a adjusted operating profit to be 6.7 million euro. The company reduced its forecast for gross capital expenditures to 140 million euros from 180 million euros earlier, and stressed the importance of disciplined spending in a gradual approach toward 2026. In a press release, CEO Chris Peeters stated that "all our attention is now focused on the crucial period of year-end". Bpost expects to achieve an adjusted operating profit of around 180 millions euros for the full year.
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Wall Street Journal, November 5,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. A UPS plane crashed near Louisville, Kentucky. At least four people were killed and 11 injured. The number of fatalities is expected to rise. Sunway Healthcare in Malaysia will begin engaging with investors soon ahead of an IPO planned that could raise as much as $1 billion. Bain Capital and Perpetual, an Australian investment manager, are in exclusive discussions about the sale of their $14 billion wealth management business. Donald Trump, the U.S. president, has renominated Jared Isaacman as NASA's new director. This reverses a decision he made five months ago to pull his support. TrumpRx, the weight loss drug program offered by the Trump administration, is currently negotiating with Eli Lilly to reduce prices on their drugs. ChrysCapital has raised $2.2billion for its latest fund. (Compiled by Bengaluru Newsroom)
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Taiwan: China ignores requests for information about new airport safety concerns
Taiwan's Civil Aviation Administration stated on Wednesday that China had not provided any information regarding a new airport that will open in the next year, less than 10 kilometers (6 miles) away from a Taiwanese Airport. This raises flight safety concerns. Xiamen's Xiang'an Airport is located only 3 km away from Taiwan's Kinmen Islands, the site of the Cold War's on-off battles. Construction work can also be heard and seen from Taiwan. Taiwan's Civil Aviation Administration sent a statement to saying that close airports need to be planned and coordinated in advance to ensure safety and smooth operation. It said that the administration had requested China to provide information on planning in order to assess the impact of Xiang'an Airport on Kinmen Airport. The report added, "However the relevant Chinese civil Aviation authorities have not provided us with any information up to date." It said that China has an obligation to make sure the newly constructed Xiamen Xiang’an airport does not interfere with our airspace. "The Civil Aviation Administration urges the Chinese air traffic controllers to start discussions with us immediately." Requests for comments were not immediately answered by either the Civil Aviation Administration of China or China's Taiwan Affairs Office. Kinmen Airport mainly offers domestic flights, but also charters to international airports. China's government has refused to speak with Taiwan President Lai Ching Te, calling him a "separatist". Taiwan officials are concerned that China may try to exert control over Kinmen through a development plan which will be unveiled early next year. They see Xiamen airports as a potential part of this plan. Taiwan and China have had previous clashes over the safety of flights around Taiwan's offshore island, as well as China's opening new flight routes through the Taiwan Strait. Taipei also denounced this move by China to be unilaterally made without consultation. Taiwan controls the Kinmen and Matsu Islands, located just off the coast of China, ever since the defeated Republic of China fled to Taipei after losing the civil war against Mao Zedong’s communists in 1949. Reporting by Ben Blanchard, Editing by Raju Gopikrishnan
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Industry letters indicate that India's stricter green energy rules could hurt clean energy investments
A review of industry correspondence on Wednesday revealed that India's proposed rules, which would require renewable energy producers to adhere strictly to their green energy promises to the grid, will squeeze company earnings and reduce investment in the sector. In its draft, published in September 2025 by the Central Electricity Regulatory Commission(CERC), tighter regulations were proposed for wind and solar energy producers under the Deviation Settlement Method. The new framework will gradually reduce the gap between what electricity producers promise to provide and what they actually produce. The formula for calculating these deviations is being revised starting April 2026. Each year, the tolerance margin will shrink, until 2031, when renewable generators are treated the same as conventional power plants. As renewables make up a greater share of India's electricity mix, the goal is to encourage renewable generators improve their forecasting accuracy and schedule to ensure grid discipline and reliability. Industry groups have warned that the proposed rules could harm wind energy projects as they depend on "unpredictable weather" unlike solar, gas and coal-fired plants which can modulate output. The Wind Independent Power Producers Association, in a letter sent to the CERC and reviewed by, stated that "these penalties could result in huge losses, particularly for older projects which were built under different regulations." According to the group, some wind power projects may lose as much as 48% of revenue. The body filed a lawsuit in April to challenge the regulations of last year on deviations in power supply and planning. They argued that the proposed modifications could lead to a substantial financial burden for developers. In a letter sent to the CERC by the National Solar Energy Federation of India (NSEF), the group warned that the new rules could undermine the viability of projects and discourage future investments into India's clean-energy sector. India wants to expand its renewable energy base. It aims to double the non-fossil power capacity of India to 500 gigawatts, as part its energy transition goals. (Reporting and editing by Sethuraman Nandy).
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UPS plane crashes in Kentucky: injuries reported
The Federal Aviation Administration reported on Tuesday that a UPS plane crashed shortly after takeoff in Louisville, Kentucky, en route to Honolulu. Local police confirmed the crash and said there were injuries. The FAA released a statement that "UPS Flight 2876 crashed at around 5:15 pm local time, on Tuesday, November 4, after departing the Louisville Muhammad Ali International Airport (Kentucky)", according to the FAA. UPS confirmed that one of its aircraft had been involved in an accident near Louisville, Kentucky. It has not yet confirmed any injuries. UPS Worldport is located at the airport. It's a hub for UPS's global air cargo operations, and it has the largest package handling facility on the planet. WLKY-TV a local CBS affiliate broadcast live aerial footage of the scene as night fell. The red-orange glow from the fires that were ignited by the crash on the ground spread across nearly a mile. The Louisville Metro Police Department responded to reports that a plane had crashed and injuries were reported. "Kentucky we are aware that there has been a reported crash near the Louisville International Airport. We will provide more information when we have it. Please pray for all those affected, including the crew of the plane and pilots. Andy Beshear, Kentucky Governor, said that he would be sharing more information soon on X. Reporting by Gnaneshwarrajan in Bengaluru; David Shepardson, in Washington; Chris Thomas, in Mexico City, and Steve Gorman, in Los Angeles. Editing and production by Nia William and Jamie Freed).
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Air Canada narrows 2025 core profit forecast amid US travel decline
Air Canada has lowered its core profit forecast for 2025 after reporting lower third quarter profit on Tuesday. The airline is grappling with the waning travel demand to the U.S. due to trade tensions. The largest Canadian airline expects adjusted full-year earnings before interest taxes, depreciation, and amortization will be between C$2,95 billion ($2,10 billion) to C$3,05 billion. This is compared to its previous forecast of C$2.9 to C$3.1. Travel between Canada and the U.S., which is a cross-border activity, has been significantly reduced this year. This was due to President Donald Trump's tariffs that were imposed on Canadian imports. These steep tariffs caused a backlash across the country. The Canadian carrier was also hit by a major shut down in the third quarter after almost 10,000 flight attendants went on strike for better pay and compensation for "groundwork" that wasn't paid. Air Canada's entire fleet was grounded after the four-day strike, which violated an order from the government to return to work. This resulted in thousands of cancelled flights, a severe disruption of operations, and a significant loss of revenue. Last month, the airline cut its financial projections for the year and quarter to reflect the impact of the strike. Air Canada reported that it incurred labor charges and a pension cost of C$173,000,000 in the third quarter. These included costs related to a tentative agreement with the Canadian Union of Public Employees. The company's adjusted profit for the third quarter was C$223,000,000, or 75 Canadian Cents per share. This compares to C$969,000,000, or C$2.57 each share, one year ago. The total operating revenue for the period was C$5.77billion, down from C$6.11billion in the previous year. (1 Canadian dollar = 1.4024 dollars) (Reporting and editing by Sriraj Kalluvila in Bengaluru, Shivansh Tiwary in Bengaluru)
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CANADA-CRUDE-Discount on Western Canada Select narrows
On Tuesday, the discount between West Texas Intermediate and Western Canada Select futures (the North American benchmark) narrowed. CalRock reported that WCS for Hardisty, Alberta December delivery settled at $11.05 per barrel below the U.S. benchmark WTI. This is compared to the close on Monday of $11.10. Martin King, RBN Energy analyst, said: "The bidding for Canadian crude is very strong. The result has been tighter differentials than usual for this time of the year." King stated that the Chinese continue to be the largest buyers of Canadian crude oil via the Trans Mountain Pipeline. King said that the buying of Canadian barrels to re-export from the Gulf Coast was also stronger than normal in response to additional sanctions against Russia. The oil prices fell on Tuesday due to weaker manufacturing data and a stronger US dollar. The OPEC+'s decision to pause production increases in the first quarter next year may be a sign that the group is concerned about a possible supply glut. (Reporting from Amanda Stephenson, Calgary; Editing Shilpi Magumdar)
The European air defences are put to the test by Russia's suspected "hybrid warfare"
Since September, Russia's drone incursions into European NATO countries and violations of airspace have increased. In that month, more than 20 Russian drones invaded Polish airspace while three Russian military jets violated Estonian airspace for twelve minutes.
Since then, drones, whose origin is mostly unknown, have disrupted the airspace operations across Europe.
While she did not say that Russia was behind all of the incidents, Ursula von der Leyen, the President of the European Commission called them "hybrid war". She also said it was obvious Russia's goal was to "sow divisiveness" in Europe.
Here are the most notable airspace violations reported this year.
BELGIUM
After drones were spotted on Tuesday night, the airports of Brussels and Liege were closed. Many incoming flights were diverted and others were prevented from taking off. Brussels Airport reopened on Wednesday morning, though some flights had been cancelled or delayed.
Theo Francken, Belgian Minister of Defence, said that the police were investigating sightings of drones above Kleine Brogel Air Base in North-East Belgium.
Last week, the country launched an investigation after two drones were seen flying over a base in the south-east of the country. A second inquiry was opened last month, after multiple drones flew over Elsenborn near the German border.
CZECH REPUBLIC
According to the Institute for the Study of War, the Czech army reported on 10 September that it detected an increasing number of drones unidentified flying over its military installations.
DENMARK
In September, drones disrupted the air traffic in six Danish airports, including Copenhagen, which is the busiest airport in the Nordic region. Prime Minister Mette Fredericksen described it as a hybrid assault on her country.
ESTONIA
On September 19, three Russian military jets violated the airspace of NATO member Estonia for 12 minutes before NATO Italian fighter planes cleared them out.
GERMANY
Local media reported that the Berlin and Bremen airports were briefly closed over the weekend following two separate drone sightings.
Bild newspaper reported that drones had been spotted in Germany at airports and military bases earlier in October. The report suggested that sightings on the 3rd of October at Munich Airport were just the tip.
On September 26, the interior ministry in Schleswig-Holstein, Germany said that drones were spotted overnight. They are being investigated as possible agents of espionage or sabotage.
LITHUANIA
The National Crisis Management Centre reported that NATO member Lithuania had closed Vilnius Airport on October 28 and Belarus border crossings after several objects identified as helium-filled balloons entered its airspace. This was the fourth incident of this kind in the past week.
On October 23, the country claimed that two Russian military planes had violated its airspace. This prompted a formal NATO protest, and NATO forces reacted. Russia denied this incident.
NORWAY
Oslo Airport in Norway temporarily halted landings on early October 6, following a report that a drone was sighted near the airport. This was confirmed by Avinor, the airport's operator.
POLAND
On October 30, Wladyslaw KOSINIAK-KAMYSZ, the Polish Minister of Defence, confirmed that a Polish MiG-29 intercepted a Russian reconnaissance aircraft over the Baltic Sea.
The army of the country said its jets intercepted on October 28, a Russian aircraft that was flying a reconnaissance flight in international airspace above the Baltic Sea.
About 20 Russian drones invaded the airspace of the country on the night between September 9-10. NATO responded to the intrusion with F-35 and F-16 jet fighters, helicopters, and a Patriot system of air defence.
ROMANIA
The defence ministry reported that Romania sent fighter jets to the skies on 13 September when a drone violated Romania's airspace as part of a Russian attack near the border on Ukrainian infrastructure.
According to ISW, the flight operations at Palma de Mallorca Airport have been temporarily suspended following drone sightings on October 20, 2018.
(source: Reuters)