Caspian Pipeline Consortium cuts oil exports by 1% in Jan - Oct, sources say

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• Caspian Pipeline Consortium cuts oil exports by 1% in Jan - Oct, sources say

  The Caspian Pipeline Consortium (CPC), which exports Kazakhstan's oil via the Black Sea, lowered oil materials in January October by around 1.2%. year on year to 1.378 million barrels per day, two market. sources said on Wednesday. In October alone, CPC exports declined to 4.632 million. metric tons from 4.682 million lots in September in the middle of. upkeep at the Kashagan oilfield, according to the sources. The consortium does not comment on its operational. activities. It prepares to boost CPC Blend oil exports in November. to 5.4 million heaps. CPC said in May it expected its oil exports to fall 7% short. of an initial target this year owing to lower loadings from. Tengiz oilfield. The main CPC investors are Russian oil pipeline monopoly.

• Kazakhstan's largest oilfield has cut production by five percent since October 26, according to sources

  Three industry sources said that Kazakhstan's largest oil field Tengiz operated by U.S. giant Chevron has reduced its oil production by about 21% in average since October 26. This is equivalent to 496,200 barrels of oil per day. As a member OPEC+ (an alliance between OPEC, other top producers, and Russia), the Central Asian nation is bound by output targets. The decline in production may allow Kazakhstan to meet its output quota as part of an agreement with OPEC+. According to one source, the maintenance on the field has led to a decline in production. Tengiz's operator did not respond immediately to a comment request. Tengiz increased oil production to a new record in early October, from 687,000 barrels per day in September. After maintenance was completed in August, the output had increased by 30%. Chevron, along with its partners, plans to increase production at the Tengiz Project to 850,000 bpd by the first half 2025. The expansion costs for the project are estimated at $49 billion. Chevron holds a 50% stake. Exxon Mobil owns 25% of the venture, KazMunayGaz holds 20%, and Lukoil, a Russian company, has 5%. Calculations show that Kazakhstan's average daily crude oil production in October was 20% lower than September. This is in line with its OPEC+ quota. Depending on the ratio for converting tons to barrels, the output was between 150,000 and 185,000 bpd below the OPEC+ quota. (Reporting and Editing by Sharon Singleton).

• Before the end of the year, Russian gas could be stopped from Austria

  The company has said that the Russian gas supply to OMV, an Austrian oil and gas company, could be stopped before the end the year because of an arbitration case against Gazprom. Austria is still one of few European countries that are dependent on Russian Gas, as the rest of Europe has cut back imports after Moscow's invasion of Ukraine. OMV announced on Wednesday that it received an arbitration award of over 230 million euro ($243.06 millions) from the International Chamber of Commerce due to irregular supplies of gas to its German unit from Gazprom, which will end in September 2022. Nordstream, the gas pipeline that runs from Russia to Germany, was damaged by explosions at that time and never repaired. OMV must offset its claim against invoices from its Austrian contract for gas supply with Gazprom export, which is supplied via a Ukrainian transit, in order to compensate. Gazprom has declined to comment. If a new agreement between Ukraine's Naftogaz, and Gazprom cannot be reached by the end the year, the Ukraine transit route will end. Kyiv repeatedly stated that it would not extend its contract with Gazprom. OMV pays Gazprom for gas in Austria every month at the end of the calendar month. This means gas could be stopped this month or by December, the company said. If Gazprom stops delivering gas, the supply of gas via Ukraine could be cut in half as early as Nov. 21, according to Klaas Dzeman, a market analyst with Brainchild Commodity Intelligence. The Dutch wholesale gas price rose to its highest level in almost a year, on Thursday morning. This was due to fears that Russian gas could be cut off to Austria. SUPPLY According to data from the Austrian Energy Ministry, as of August, 82% all Austrian gas imports were from Russia. OMV's supply contract with Gazprom, which runs until 2040, is one of the main reasons for Austria still receiving large quantities. This contract specifies an annual gas delivery of approximately 6 billion cubic meters and includes a clause that requires OMV to pay whether or not it uses the gas. OMV said that it had been preparing to cut off Russian gas for some time and can still supply gas to its clients. It has long-term contracts and secured transportation capacity from Germany, Italy and Austria. The Netherlands is another source of liquefied gas. The current developments around the OMV contract for Russian Gas are serious, but they do not threaten our supply security immediately. "We have always known gas supplies from Russia were unsafe," said Leonore Gwessler on X. Other European gas companies have also brought cases against Gazprom for lower-than-contracted supplies or not fulfilling contract obligations, including CEZ, RWE, Uniper and ENI. Gazprom itself has launched multiple litigations against European companies regarding gas supply to try and combat at least 17 billion euro ($17.86billion) in claims. The Russian court has also been asked to arbitrate the case, claiming that European sanctions have barred Gazprom from accessing European justice, and Western restrictions prohibit the use of Russian bank cards, complicating entry visa clearance.

• Slovakia's SPP indications pilot offer for Azerbaijani gas

  Slovakia's primary gas buyer SPP has signed a shortterm pilot contract to buy natural gas from Azerbaijan and will think about a longerterm deal as it prepares for a possible stop to Russian products via Ukraine, it stated on Wednesday. An offer in between Moscow and Kyiv on Russian gas exports through Ukraine to Europe ends at the end of the year, forcing SPP and others in the European Union to search for alternative sources, including Azerbaijan. Russia has stated it wants to continue to provide gas through Ukraine in spite of the war with its neighbour, while Kyiv has actually refused to take part in discussions with Moscow on gas exports. SPP said it had actually diversified gas purchase contracts with BP , Exxon Mobil, Shell, Eni and RWE, and has up to 150% of its consumers' usage volume readily available as a cushion. It stated that could increase. Due to the high danger of stopping gas products by means of the eastern pipeline, we are taking procedures to ensure safe gas materials to our clients, from big industrial customers to families, in any scenario, SPP CEO Vojtech Ferencz stated. SPP stated Slovakia also had diversified transit routes for supplies in case of a blockage through the pipeline going through Ukraine. That includes a pipeline from Germany going through the Czech Republic. It stated a southern transit path through the Turk Stream pipeline throughout the Black Sea would be necessary if Ukraine transit stops, and part of its Russian or Azerbaijani gas might travel by means of that pipeline. It included it would take more measures for supply security if flows by means of Ukraine were stopped, however that these would be more costly. If the business were to lose Russian deliveries and purchase the whole needed volume from another source and physically transit it to Slovakia, it would cost it a minimum of 140 million euros ($148.6 million) more, SPP stated.

• Ukraine's Naftogaz and Ukrnafta increase gas output by 6% from January

  Ukraine's staterun Naftogaz and Ukrnafta oil and gas companies raised their natural gas output by 6% to around 12.3 billion cubic meters (bcm) between January and October, Naftogaz said on Thursday. Naftogaz said in July it prepared to increase gas output to 15 bcm this year, from 14 bcm in 2023. Ukrnafta is the largest oil business in Ukraine, and its 50% plus one share owned by Naftogaz. Over the coming winter months, gas is essential to Ukraine for heating. Ukraine's energy system has been a target for Russia whose strikes on power facilities have triggered blackouts. We are doing whatever we can to guarantee that Ukrainians can go through the heating season by themselves fuel, Oleksiy Chernyshov, CEO of Naftogaz Group, stated. Last year, total Ukrainian gas production increased to 18.7 bcm from 18.5 bcm in 2022, while domestic intake fell to about 19 bcm. Ukraine, formerly one of the largest importers of Russian gas, has actually given that 2015 relied rather on imports from European Union nations and its own production.

• Sources: Germany rejects arrival at Brunsbuttel of Russian LNG shipment

  Sources in the industry said that Berlin has refused to allow an LNG shipment from Russia to be delivered to the Brunsbuttel Terminal in northern Germany, in accordance with its policy of not importing LNG from Russia. The Financial Times reported on Thursday morning that Germany's Economy Ministry BMWK had ordered the Deutsche Energy Terminal to refuse any Russian LNG deliveries after the company had informed Berlin that it was planning to import a Russian cargo to its Brunsbuttel facility on Sunday. The order was unclear. LSEG data shows that three LNG tankers left the Yamal facility in Russia recently and are awaiting orders. An industry source said that the cargo was bound for Brunsbuttel, and someone wanted to see how Berlin would react. They also thought it might be a "political PR stunt". Germany, Europe's biggest economy, and once Russia's top natural gas importer, has never imported Russian LNG directly and has stopped purchasing Russian pipeline gas after Moscow's invasion in Ukraine. In order to replace Russian gas, it has relied upon LNG imported from the United States as well as other countries as well as pipeline gas from Norway. BMWK spokeswoman: "Germany doesn't import Russian gas out of principle, and it's also clear that this cannot happen through German LNG terminals." A spokesperson for the Ministry stated that in February, German companies who import LNG or transport it to Germany had committed to ensure that no Russian LNG is shipped to Germany when they purchase on the market. An analysis of data conducted in April revealed that LNG has replaced more than 10% of the Russian Gas shipped via pipeline into the European Union, mostly in Spain, Belgium and France. Germany does not directly import Russian gas. However, some Russian gas is still injected by other EU countries into the pipelines via Belgium's Zeebrugge terminal and other terminals. According to the Federal Network Agency, 48.6% (48.6%) of Germany's gas imports last year came via pipelines from Belgium, France, and the Netherlands.

• Indian air taxi startup ePlane Co raises $14 mln; eyes mid-2025 testing

  The ePlane Business, an Indian electric air taxi startup, has actually raised $14 million as it sets its sights on starting manned air taxi testing by mid2025, it stated on Thursday. The funds will be used for the development and certification of its manned electric vertical launch and landing (eVTOL). airplane, ePlane, which raised the money in a Series B financing. round, co-led by Speciale Invest and Antares Ventures, according. to a statement. The fundraise provides the Chennai-based firm a post-money. appraisal of $46 million, up from $21.2 million in December. 2021. So far, it has raised $19.85 million. eVTOLs are looking for to transform urban travel by. developing battery-powered airplane that can take off and land. vertically, giving commuters a possibility to avoid traffic snarls in. busy metropolitan areas. Analysts say India is primed to be amongst the biggest markets. for the sector as its growing population tries to find ways to avoid. rush hour in cities. eVTOL business promise competitive. ticket prices, which can be less expensive than cab fares. The worldwide air taxi market was valued at $2.3 billion in. 2023 and is projected to be worth $14 billion by end-2032, a study by Global Market Insights showed. ePlane rival Sarla Aviation stated it will cost travelers. about $21 to cover a near-38 kilometre stretch between Bengaluru. airport and a city area called eCity in 19 minutes, using. its flying taxis. Conventional ride-hailing taxis, such as Uber. , can take about 2 hours to cover the exact same range and. cost around $30, considering surge rates. Last month, the Federal Air Travel Administration, the U.S. civil aviation regulator, completed thorough training and. pilot accreditation rules for flying air taxis, resolving a secret. difficulty to their release. Only a handful of air taxi business have gotten. certificates to begin business operations internationally. Boeing-backed Archer Aviation said previously this. year it intends to begin its India operations by 2026. It has. partnered with InterGlobe Enterprises, which backs IndiGo. , India's top airline.

• India's Blue Energy Motors prepares to raise $100 mln by January, CEO states

  Blue Energy Motors, an Indian startup that makes liquefied natural gas (LNG) sustained. trucks, plans to raise $100 million by January to fund capability. expansion, its president said, showing a shift to. cleaner fuel alternatives. The business intends to triple its sales to 3,000 LNG-powered. trucks next financial year, which begins in April 2025, and will. quickly introduce its very first electric truck, CEO Anirudh Bhuwalka told. Reuters in an interview. We are raising $100 million to scale up business. This. funding will support the production of both electrical and LNG. trucks. Blue Energy, India's very first LNG truck producer, was. valued at $250 million in its previous fundraising round. It has a production facility in Pune, an essential commercial. center in western India, with the capability to produce approximately 10,000. trucks each year, and has partnered with Italy's Iveco Group. to source engines for its LNG trucks. As we approach the milestone of 6,000 or 7,000 systems, I can. established another truck center within six months, Bhuwalka stated. The company has been progressively growing its fleet of trucks,. which are designed for long-haul transportation, providing the. logistics market a more sustainable option to standard. diesel cars. Market experts say LNG-powered trucks produce as much as 30% less. CO2 than diesel ones, while cutting hazardous particulate matter. by up to 98% and sulphur oxides by approximately 100%. Currently, India has 4 million sturdy trucks that emit. almost 450 million tons of CO2 annually. If absolutely nothing is done,. this number will more than double to 900 million within the next. decade, Bhuwalka cautioned. India, among the world's largest greenhouse gas emitters,. has actually set a target of net-zero carbon emissions by 2070, with the. government pushing for cleaner fuel options to help reduce. emissions. While LNG truck adoption in India is still restricted to. long-haul paths due to an underdeveloped network of LNG. refuelling stations, Bhuwalka anticipates electric truck sales to. grow quickly. The sales of electric trucks are anticipated to speed up as. battery prices continue to fall..

• Canada - Nov 13

  These are some of the most important stories in selected Canadian newspapers. These stories have not been verified and we cannot vouch for the accuracy of these stories. THE GLOBE AND MAIL Canadian Labour Minister Steven MacKinnon ordered the country's Labor Relations Board to end disputes at the ports in Vancouver and Montreal citing economic damage. Dye and Durham unveiled its proposed slate of directors in advance of its annual meeting. Four of the seven directors are newcomers. The Canadian Union of Postal Workers has said that the ongoing labour dispute between Canada Post and its employees is a result of the new roles of their workers which have led them to work longer hours under more difficult conditions. At the COP29 summit this year in Azerbaijan, Canada will launch a climate platform worth $1.48 billion to promote financing for countries most vulnerable to global warming. NATIONAL POST Stephen Harper, former Canadian Prime Minister and current chair of Alberta Investment Management, may be the next chairman after the dismissal last week of the entire board.

• Amazon and IKEA join with other ocean cargo shippers in boosting demand for green fuels

  Amazon.com, IKEA and about 30 other companies who depend on ocean cargo will invite shipping companies to bid for the first contract to move their goods on vessels powered with efuels that emit almost no emissions, such as emethanol, in January. The Zero Emissions Maritime Buyers Alliance, a group of members who all have climate goals, wants to leverage the collective power of their members to increase demand for efuels that are made from renewable electricity and CO2. These fuels are very scarce. The alliance wants to speed up the transition of ocean shipping to a net-zero emissions level by 2050. This is despite Donald Trump, who will likely withdraw from international agreements to combat climate change. The global fleet is responsible for more than 80% percent of all trade in the world and about 3% of GHG emissions. The alliance stated that e-fuels were vital for decarbonizing ocean transportation because they could compete with fossil fuels in the long term on price and supply. Carl Berger who is the sustainability and export operations leader at Amazon Global Logistics, said: "This is what you do to get on the path and on track towards being net-zero." In 2027, the group expects to start its three-to-five-year contracts to transport e-fuel. It is estimated that the cargo transported under this contract would be at least 1.4 millions 20-foot containers shipped from Shanghai to Los Angeles. The group stated that this would allow members to reduce GHG emissions by 470,000 metric tons, which warms the planet and damages human health. Maersk, Evergreen, and Ocean Network Express have ordered ships which can run on emethanol. They are also working to secure the supply of this fuel. The alliance hopes that their collective actions will reduce the cost of efuels. However, they are expecting to pay a premium not disclosed to offset the higher price compared to fossil fuel. Ingrid Irigoyen, CEO of the Alliance, said that e-fuel costs will start to drop once it gets started.

• Plains All American agrees to pay about $73 mln to settle California oil spill lawsuit

  Plains All American Pipeline has actually accepted pay $72.5 million to settle a claim over the 2015 Refugio Beach oil spill in Santa Barbara, a filing revealed on Tuesday. The spill occurred after a pipeline, which ran across California's coastline, burst and spilled an estimated 126,000 gallons of oil into the ocean and on the beaches. In 2020, the California State Lands Commission and insurance firm Aspen American Insurance had taken legal action against Plains All American - the operator of the failed pipeline - declaring negligence, willful misbehavior, and disturbance with potential economic benefit. The state of California will get $50.5 million from the settlement, while Aspen will get $22 million. Plains All American and Aspen Insurance did not instantly respond to Reuters' ask for comment. This settlement ... holds the operator liable and offers proper settlement to the state for the fiscal damages triggered by this spill, Joe Stephenshaw, state lands commissioner and California Department of Financing director, said in a declaration. As of Sept. 30, Plains All American had estimated the overall costs it has incurred or will sustain associated to the failed pipeline would have to do with $870 million.

• Ukraine's rolled steel output, exports rise so far in 2024, union states

  Ukrainian steel makers have increased rolled steel production by 20.6% so far in 2024 and improved exports by 53.5%, local steel manufacturers' union Ukrmetprom said. The union said late on Monday that rolled steel output reached 5.3 million metric tons in January-October versus 4.4 million heaps a year earlier, while exports increased to 3.7 million tons from 2.4 million. Ukraine is a major international steel maker and exporter but its production has fallen dramatically given that Russia's full-scale invasion in 2022 as it lost several big steel plants in the east of the nation. The potential loss of the only domestic source of coking coal needed for steel production could be an additional test for the Ukrainian steel industry, with Russian troops just a couple of kilometres far from the mine in Pokrovsk, which continues to operate. The mine operates round the clock. The variety of employees at the website is 3,400, Oleksandr Kalenkov, head of Ukrmetprom, informed Reuters. Kalenkov informed Reuters last month that the loss of the Pokrovsk mine could cause steel production to slump to 2-3 million lots a year from 7.5 million tons expected in 2024. Metal exports were worth nearly $2 billion in the very first eight months of this year, according to trade data, cash needed to keep Ukraine going 2 and a half years into the war. Steel and agricultural products typically control Ukrainian exports.