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Typhoon Fung Wong floods Taiwan; thousands are evacuated
Taiwan evacuated over 8,300 people in advance of the arrival on Wednesday of Typhoon Fung Wong, a weaker version of which brought heavy rains and flooding to Taiwan's mountainous east coast. In the southernmost part of the island, businesses and schools were closed. 51 people were injured. Images on television showed that the waters were neck-deep in some parts of Yilan county, a largely rural area of eastern Taiwan. Soldiers were attempting to rescue those who had been stranded. The water came in quickly, said Hung Chun Yi, a fisherman who spent the evening clearing mud out of his home, which was engulfed by 60-cm-deep (2-ft-deep) waters. The drainage system couldn't handle the rain. Fire department officials said that about 8,300 people had been moved to safer areas. This was mostly in Yilan, and the nearby Hualien area, where the monsoon rains from the north had swollen the rainfall along with the unseasonably delayed typhoon. Weather officials reported that the town of Dongshan in Yilan received 794 mm of rain (31 inches) on Tuesday. Fung-wong will likely graze the southernmost tip of Taiwan on Wednesday evening before moving into the Pacific Ocean. After sweeping through the Philippines and killing 27 people, it lost considerable strength. Hualien was devastated by floods caused by a typhoon that hit in September. The typhoon that hit the north this week will not affect Hsinchu in the north, which is home to TSMC (the world's biggest contract chipmaker). (Reporting and editing by Clarence Fernandez; Additional reporting by Mikhail Flores, Yimou Lea and Ben Blanchard)
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Typhoon Fung Wong floods Taiwan; thousands are evacuated
Taiwan evacuated over 8,300 people in advance of the arrival on Wednesday of Typhoon Fung Wong, a weaker version of which brought heavy rains and flooding to Taiwan's mountainous east coast. In the southernmost part of the island, businesses and schools were closed. 51 people were injured. Images on television showed floods in the rural county of Yilan. The waters were neck-deep, and soldiers were attempting to rescue those who had been stranded. The water rushed in quickly, said Hung Chun Yi, a fisherman who spent the entire night cleaning mud out of his home, which was engulfed by 60-cm-deep (2-ft-deep) waters. The drainage system couldn't handle the rain. Fire department officials said that about 8,300 people had been moved to safer areas. This was mostly in Yilan, and the nearby Hualien area, where the monsoon rains from the north had a multiplied rainfall due to the typhoon's unseasonably late arrival. Weather officials reported that the town of Dongshan in Yilan received 794 mm of rain (31 inches) on Tuesday. Fung-wong will likely graze the southernmost tip of Taiwan on Wednesday evening before moving into the Pacific Ocean. After sweeping through the Philippines and killing 18 people, it lost a lot of strength. In Hualien, 18 people were killed by floods caused by a typhoon that hit in September. (Reporting by Yimou Lee and Ben Blanchard; Editing by Clarence Fernandez) The typhoon won't directly affect Hsinchu in the north, which is home to TSMC. TSMC is the largest contract chipmaker in the world. (Reporting and editing by Clarence Fernandez; Yimou Lea and Ben Blanchard)
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Dominican Republic restores power following nationwide blackout
The Dominican Republic announced on Tuesday that it had restored some electricity after an earlier nationwide blackout. In a press release, the power company of the state said that the national power system is gradually being restored after a failure occurred at San Pedro I Substation at 12:23 p.m. Echavarria, during a recent press conference at the Energy Control Center, said that the number of megawatts generated by the Energy Control Center will continue to grow as the stabilization progresses. He said that power has been restored to parts of Santiago and San Cristobal as well as Santo Domingo Norte, the southern part of the country and other areas. The electricity sector said that some public transport services have resumed and are now free in certain parts of the capital. Authorities added that hydroelectric plants were first to connect to the grid, followed by a number of thermal plants in a gradual, but effective, process to ensure grid stability and safety. (Reporting and Writing by Paul Mathiasen; Editing by Brendan O'Boyle).
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Venture Global signs 20-year LNG Supply Deal with Japan's Mitsui
Venture Global announced on Tuesday that it had signed a long term agreement with Japanese trading company Mitsui for the supply of LNG at 1.0 million tons per year. Japan, which is the second largest LNG importer in the world after China, seeks stable and flexible energy sources to support its growing data center construction. Wood Mackenzie analysts estimate that these facilities will use the same amount of electricity as 15 to 18 million Japanese households by 2034. This is responsible for 60% of Japan's growth in power demand. Venture Global has now signed its third agreement with a Japanese customer. The company signed a deal to supply JERA by 2023, and an agreement with INPEX by 2022. This move will also help President Donald Trump in his efforts to increase U.S. LNG Exports. The United States is already the top exporter of super-cooled fuel and to improve the trade balance between Japan and domestic producers. Mitsui has agreed to purchase fuel from Venture Global starting in 2029 for a period of 20 years. The announcement was made on the same day Venture Global dropped 11% after news broke that Shell had appealed its arbitration loss against Venture Global. This came weeks after rival BP gained a similar case valued at more than $1 billion. The two arbitration cases relate to Venture Global's failures to deliver LNG in accordance with long-term contracts, while the prices of LNG on the spot market soared following the outbreak of war in Ukraine. Shell stated in a recent filing that while it is difficult to appeal arbitration decisions, they believe an appeal is warranted because Venture Global hid crucial evidence. Venture Global has been signing more and more supply agreements with global energy companies. It has already secured 6,75 MTPA in long-term contracts for 2025. The U.S. company has signed 20-year contracts with Naturgy of Spain and Atlantic-SEE Gas Trade of Greece. These agreements are in addition to those with Petronas SEFE Energy, and Eni. Reporting by Dharna Baffna from Bengaluru and Curtis Williams from Houston. Editing by Tasim Zaid.
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Discussions are underway about the airport project in Moldova with Lukoil, a Russian oil company
The airport director announced on Tuesday that talks are in progress between the Moldovan government and Russia's Lukoil about buying the energy company’s infrastructure at Chisinau Airport as part of an effort to implement U.S. Sanctions imposed last month. Serdgiu Spoiala stated that he did not see any risk of the airport running out of aviation fuel, after the government proposed to buy Lukoil’s facilities on Monday. The sanctions imposed by the United States on Lukoil and Rosneft were linked to the war that has lasted for more than three-and-a-half years in Ukraine. Currently, it is the only supplier of fuel to Eugen Doga Airport. Spoiala, a reporter, said: "We've issued a proposition in the name the airport. Talks are underway." "I believe that things are going well. We are looking at different scenarios. It is still too early to make any conclusions, although the situation has advanced. "I think we'll have results in the next three to four days." Lukoil-Moldova has declined to make any comment. Moldova's proEuropean government announced on Monday that they had proposed purchasing Lukoil airport infrastructure including a storage facility to ensure aviation fuel supplies in the country located between Ukraine and Romania. The Energy Ministry stated that it wanted to make a deal with the ex-Soviet country which would be of maximum benefit. Last week, Energy Minister Dorin Junghietu said that the company must cease its operations within the country by November 21, in order to comply with U.S. sanction. He said that the country was aligned with the sanctions, but had asked for a temporary exception to ensure minimal disruptions to its citizens. The Lukoil company in Moldova operates 110 fuel stations, which provide both petrol and diesel. It also has facilities to service aircraft. (Reporting by Alexander Tanas, Writing by Ron Popeski, Editing by Alexandra Hudson)
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Nigerian, US and UK agencies investigate $235 million Cocaine seizure at Lagos Port
Nigeria's antidrug agency, working with U.S. counterparts and British counterparts, is investigating the origins of $235 million worth of cocaine seized in Tincan Port at Lagos. This was one of Nigeria's biggest drug hauls. In a Tuesday statement, the National Drug Law Enforcement Agency said that over the weekend 1,000 kg of cocaine was found in an empty container in a terminal. The terminal operators notified the NDLEA, other port security agencies and the NDLEA jointly to examine the consignment. After tests confirmed that the substance was indeed cocaine, the drugs were handed over to NDLEA. On invitation from the Nigerian Government, the U.S. Drug Enforcement Administration and UK's National Crime Agency joined the investigation. Buba Marwa, Chairman of the NDLEA said: "The essence is to work with our international partners to make sure that no stone is unturned... to bring to justice all those responsible for this massive consignment, wherever they may be located in the world." (Reporting and editing by Chijioke Ahuocha, Patricia Reaney, and Camillus Eboh)
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US Airlines cancel 1,200 flights on Tuesday due to the government shutdown
The government has been imposing mandatory flight reductions in response to safety concerns. This is the fifth day that the airlines have cancelled more than 1,000 flights. The Federal Aviation Administration (FAA) instructed airlines last week to reduce 4% of flights daily starting Friday, November 7 at 40 major airports due to staffing problems in air traffic control. The reductions in flights increased to 6% on February 2. On Thursday, the flight reductions would be 8% and on Friday, they will be 10%. The FAA and airlines are discussing when and how to reduce and eliminate the flight cuts as the record-breaking 42-day shutdown of the government nears its end. Sources said that the FAA is considering a variety of options for ending or reducing the flight reductions. The Senate approved legislation on Monday night to end the shutdown. It also funded the government until January 30. The House will take up the bill on Wednesday. Since the beginning of the shutdown on Oct. 1, air traffic absences led to thousands of cancellations and delays. 1.2 million passengers experienced flight delays or cancellations over the weekend due to air traffic controllers' absences. FlightAware's flight tracking website reports that airlines delayed over 1,300 flights Tuesday, after cancelling 2,900 flights Monday and delaying 9600. The airline officials said that the shortage of air traffic control personnel improved dramatically on Tuesday, after a total of more than 20 issues on Monday. According to the FAA, there was only one staffing issue on Tuesday. On Monday, Donald Trump warned that he would dock the pay for any controllers who failed to return to work. He also welcomed the resignation of employees who were not punctual in their attendance. The longest shutdown in U.S. History has forced 13,000 air-traffic controllers and 50,000 Transportation Security Administration (TSA) agents to work for free. The FAA has about 3,500 air-traffic controllers less than the targeted number. Before the shutdown, many had already been working six-day weekends and mandatory overtime. (Reporting and editing by Franklin Paul, David Gregorio and David Shepardson)
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Aegean Airlines reports record revenue for the nine-month period on strong demand
Aegean Airlines (Greece's largest airline) reported Tuesday record revenue and passenger traffic in the first nine months 2025. The company reported that lower fuel prices and higher travel costs offset the increased regulatory costs, but warned about operational challenges related to engine inspections. The revenue for the period January to September rose 4% on an annual basis to 1.43 billion euro ($1.67 billion), while net profit increased 12% to 148 million euros, on the back of a 5% increase in passenger numbers to 13.2 millions. Dimitris Gérogiannis, Chief Executive Officer of the Greek Civil Aviation Authority (GCA), said that demand for air travel was still high. Gerogiannis warned that there are still operational challenges, such as delays in air traffic control, and early inspections of Pratt & Whitney GTF engine, which has grounded 12 aircraft. The company anticipates that the inspection cycle will last for about 30 months more, and then gradually ease off from autumn 2026. Aegean Airlines is a member airline of Star Alliance and operates an aircraft fleet of 83 aircraft that serves more than 160 destinations across 47 countries. The carrier plans to add new routes to the Middle East, and offer 4.9 millions seats, an increase of 9% over the previous year.
Trans Mountain pipeline and Canada oil shippers are in discussions to resolve the shipping cost dispute
Oil shippers and the operator of Canada’s Trans Mountain Pipeline are currently in negotiations to resolve a dispute over shipping costs that has hampered the use of Canada’s only east-west pipe and slowed down government plans to sell it.
Trans Mountain Corp. and a group including Cenovus Energy and Canadian Natural Resources and ConocoPhillips Canada filed documents with the Canada Energy Regulator Tuesday stating that the parties were in "active commercial discussion."
The talks could settle how much the companies pay to ship oil on the expanded 890,000-barrel-per-day pipeline, which offers direct access to China and other Asian markets at a time Canada is trying to diversify oil exports away from the United States.
Trans Mountain confirmed via email that discussions are ongoing and requested the regulatory proceedings to be stopped in order to reach an agreement.
The Canadian Energy Regulator confirmed that it is reviewing this request. Shippers did not respond to an immediate request for comments. The dispute over tolls, which has lasted for more than two years, has made the Canadian government's plans of selling the Trans Mountain Pipeline uncertain.
Ottawa, which purchased the pipeline in 2018 for C$4.5billion ($3.21billion) to save the expansion project from years of regulatory delays, cost increases and cost increases, started informal talks with Indigenous groups in 2023 to explore their interest to a possible equity stake.
Analysts believe it will be difficult for a private or Indigenous group to purchase the pipeline until the dispute over tolling is resolved and Trans Mountain's revenue potential in the long term is known.
Uncertainty about the final toll
The C$34-billion expansion completed in 2024 tripled pipeline capacity but the price was almost quintuple of a 2017 estimate.
Trans Mountain Corp will cover approximately 70% of the cost overruns, but the remaining $9 billion is to be covered by tolls in accordance with a formula that was agreed upon by shippers and approved more than 10 years ago by the Canada Energy Regulator.
Trans Mountain estimated that contracted shippers would pay almost twice as much in 2017. Spot shippers are charged even more.
Shippers are pushing back on the higher tolls. They claim they're not responsible for construction cost overruns. Canada Energy Regulator was scheduled to hold an hearing on tolls in the next month. Trans Mountain has had less traffic than expected since the start of the expansion in May 2024. This is partly due to the higher tolls.
Analysts say that if the toll structure is lower than what Trans Mountain wants, it could affect the price of the pipeline and make it more difficult to recover its construction costs.
Mark Maki, CEO of Trans Mountain, said in June that he believed the Canadian government could recover its investment in pipelines but should delay the sale until the uncertainties surrounding tolling and usage are resolved.
(source: Reuters)