Latest News
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Boeing announces imminent partnership with T-7 Trainer Export Bid
Boeing executives announced on Sunday that they are close to announcing an agreement to bid for a sales opportunity in international markets for the T-7 trainer. They highlighted the fast-growing need for light military training aircraft. In July, it was reported that Boeing and Sweden’s Saab had been in discussions with Britain’s BAE Systems about a possible future replacement for the UK’s Hawk trainer. Boeing and Saab jointly developed the T-7 Advanced Trainer for the U.S. Air Force. Meanwhile, Britain plans to replace the Hawk fleet that is out of production, a part of which can be instantly recognised through the Red Arrows team. Steve Parker, Boeing's Defense, Space & Security CEO, responded "Watch this space" when asked at a briefing before the Dubai Airshow if the partnership would meet Britain's needs for trainers. He declined to give any further details. Boeing officials stated that the announcement of the planned cooperation would be made within a week. They also said that the overall demand for trainers was spread across major markets, including Europe and Asia. A British defence strategy review in June recommended replacing BAE Hawk, and the UK government welcomed any interest from UK suppliers. BAE said that it had not yet decided whether or not to develop a replacement for the Hawk, which was discontinued in 2000. (Reporting and editing by Alexander Smith; Tim Hepher)
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Ashfall from Japan's Sakurajima volcanic eruption cancels flights
On Sunday, a volcano on Japan's western island of Kyushu erupted several times. A plume of smoke ad ash reached as high as 2.73 miles (4.4 km) in the air. This caused dozens of flights to be cancelled. Japanese Meteorological Agency said that the volcano, called Sakurajima, located near Kagoshima on the southern tip Kyushu, erupted around 1 a.m. (1600 GMT Saturday), according to the agency. Two more eruptions occurred at around 2:30 and 8:50 in the morning. Kyodo News Agency reported that this is the first time in nearly 13 months that an eruption has reached a height of 4 km or more. The local media reported that 30 flights into and out of Kagoshima Airport have been cancelled due to ashfall or other reasons. The JMA reported that volcanic ash had drifted to the northeast after the latest eruption. It said it expects ash to fall on Kagoshima and nearby Miyazaki Prefecture Sunday. Sakurajima, one of Japan's active volcanoes, is prone to eruptions. In 2019, it released ash up to a height of 5.5 km (3.44 miles). (Reporting and editing by Kate Mayberry; Satoshi Sugyama)
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Petroperu, the Peruvian oil company, changes its board and appoints a new chairman
Petroperu, the state-owned oil company in Peru, announced on Saturday that it had appointed four new members to its board, including a chairman, following the resignation of four previous members. Key Context Four members of the board resigned immediately on November 15: Fidel Augusto Moreno Rodriguez as Chairman, David Quispe Figueroa as Vice-Chairman, Jose Luis Carlos Balta Chirinos, and Cesar Rod Villanueva. Luis Alberto Canales Galvez was named as the new chairman of the company. * Three additional directors have been appointed: Elba Rojas Alvarez De Mares, Jesus Valentin Ramirez Gutierrez, and Oscar Gerio Zapata Alcazar. * The changes have been made in accordance with Law 32103, and Emergency Decree No. 004-2024 which allow the immediate recomposition of Petroperu's board and waive the standard selection procedure. * At a future shareholder meeting, shareholders will decide if new board members are "independent directors." (Reporting and writing by Marco Aquino, Editing by Christian Schmollinger; Daina Beth Sooland; Daina Beth Solomon)
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Iran confirms the seizure of a tanker carrying petrochemical cargo on the Gulf
Iran's state media confirmed that the Revolutionary Guards seized on Saturday a tanker in Gulf water carrying a cargo petrochemicals bound to Singapore due to alleged violations. An official from the United States and sources in maritime security said that Iranian forces had intercepted and diverted the oil tanker into Iranian territorial water on Friday. This was the first time that a tanker had been seized by Tehran since Israeli-U.S. airstrikes on Iran in June. The Iranian state television broadcast a statement by the Islamic Revolutionary Guard Corps, stating that 'the tanker violated for carrying unauthorized goods. The statement did not give any further details about the alleged violations. According to maritime sources, the Talara tanker was sailing near the coast of the United Arab Emirates and carrying a cargo containing high-sulfur gasoil from Sharjah, in the UAE, through the Indian Ocean on its way to Singapore. Columbia Shipmanagement, the vessel's manager, said that it lost contact with Talara on Friday morning at around 20 nautical mile off the coast Khor Fakkan in the UAE. The company said it was working with all relevant parties to restore contact, including maritime agencies and the vessel owner. The ship's owner is Cyprus-based Pasha Finance. The U.S. Military said in a statement that it was aware of this incident and actively monitoring the situation. In recent years, the IRGC of Iran has repeatedly seized commercial ships in Gulf waters, citing maritime infractions such as alleged smuggling or technical infractions, or legal disputes. The U.S. official who spoke on condition of anonymity said that the incident was surprising, since Iran hadn't carried out such operations in the recent months.
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Italy's Snam cancels German gas contract amid Berlin's concerns about China
Snam, the Italian gas grid operator, announced on Friday that it had scrapped its plans to buy a minority stake of Germany's biggest independent gas transmission company. The German Economy Ministry has resisted. Berlin's concern over the 920 million-euro ($1.1billion) transaction is due to the fact that China's State Grid is an indirect shareholder in Snam. This was reported earlier today, citing sources who are familiar with the issue. The Italian group has signed an agreement in April to purchase a 24.99% share in Open Grid Europe Infinity Investments in Abu Dhabi has acquired the owner of's (OGE), Vier Gas Holding, with the aim to enter Germany's gas market, which is the largest in Europe. Snam, in a press release, said that the German authorities had terminated the agreement after an extensive review of foreign direct investments. They also stated that Snam's proposed solutions to obtain regulatory clearance were deemed inadequate. The company said that this development would not affect its financial forecast for 2025. Since the agreement, Germany's Economy Ministry has been reviewing the contract. The German government's resistance is a reflection of the European governments' tougher stance on Chinese investment in Europe because of security concerns. Agostino Scrnajenchi, CEO of Snam, had previously indicated that the company would not pursue an acquisition "come Hell or High Water" during the lengthy approval process. Germany has blocked China's State Grid from buying a stake in 50Hertz, a power grid operator in 2018.
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CANADA-CRUDE-Discount on Western Canada Select narrows slightly
On Thursday, the discount between West Texas Intermediate and Western Canada Select futures (the North American benchmark) decreased slightly. WCS for Hardisty, Alberta delivery in December settled at $11.65 per barrel, which is $1.65 below the U.S. benchmark WTI. This was down from $11.70 a barrel on Thursday. Michael Berger, Enverus analyst, stated that Canadian crude storage levels are below the average for the past five years. Trans Mountain, the pipeline that exports Canadian crude via the Pacific Coast to U.S. markets and Asian ones, has not been apportioned in November. This is another factor contributing to the narrow differential. The industry uses the term apportionment to describe when demand for space on pipelines exceeds its capacity. Berger says it is more difficult to predict the WCS discount over the long-term because of the possibility that policy and regulatory changes could occur in Canada, which would encourage oil producers to increase their production. * Oil prices in the global market rose by more than 2% on Friday, as Russia's Novorossiisk port halted exports of oil following an attack by a Ukrainian drone that targeted a depot at Russia's energy hub. This sparked supply concerns. (Reporting from Amanda Stephenson, Calgary; Editing and proofreading by Tasim Zaid)
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Cheniere expects US LNG plants to use 40 bcf per day of natural gas in the coming years
Anatol Feyegin, Chief Commercial Officer at Cheniere Energy, said that U.S. LNG plants may be able to take up as much as 40 billion cubic feet of natural gases per day over the next few years. According to LSEG data, U.S. LNG plants are using a record amount of natural gas (18 bcfd) to produce LNG. Feygin, speaking at a Federal Reserve Bank of Kansas City seminar, said that the increased demand for gas liquefaction may lead to higher natural gas prices. Prices have risen by 62% in the last year and could become even more costly towards the end of this decade. "You saw it in 22/23 when COVID came out. LNG returned to full utilization, and then increased. Nymex saw an increase in the single digits. Feygin stated that the supply would respond very quickly, indicating that drillers could increase production to meet increased demand. The executive stated that there is concern about a glut of LNG as more capacity is added. However, he said that Asian countries like Bangladesh and Pakistan may be drawn in by the lower prices to increase demand. Feygin stated that the world will need 30 million metric tonnes of LNG each year to meet the global demand growth. The majority of this new capacity will come from the U.S. He said that rising construction costs were behind some of the final investment decisions made in U.S. LNG. Feygin explained that "more than two-thirds" of the FID in this year were completed because fixed-priced EPC contract expires soon and the rush was on to keep the cost of construction of the LNG plant low. Feygin stated that the U.S. gas sector could produce up to 300 mtpa. However, he acknowledged that this rapid growth could be a challenge for some producers who are not prepared to deal with periods of low prices. He warned that only 17% of new capacity from plants which reached FID in this year had been sold on long-term contracts. Many portfolio players were unprepared. Curtis Williams, Houston (Reporting) and Leslie Adler Nathan Crooks Edmund Klmaann edited the article.
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Republican state AGs express concerns over Union Pacific's deal with Norfolk Southern
Nine Republican attorneys general raised concerns on Friday about Union Pacific's plans to purchase smaller rival Norfolk Southern for $85 billion, creating the first U.S. Coast-to-Coast freight rail operator. In a letter sent to the Surface Transportation Board by Tennessee Attorney-General Jonathan Skrmetti, and Kansas Attorney-General Kris Kobach that was seen by, the officials expressed concern about the deal, which they said would result in "undue market consolidation" and "stifle competition, resulting in higher prices, less reliability and less innovation, at the expense America's producers and consumers." If approved, the tie-up could help reshape U.S. freight railroad industry, streamline operations, and eliminate interchange delays at key hubs such as Chicago. Attorneys general from Ohio, Florida and other states, including North Dakota, South Dakota Mississippi, Montana, and Iowa, said that the merger could lead to high shipping costs, which could "kneecap American manufacturers' ability compete with foreign companies." The group also stated that "the downstream impact of the merger poses a significant risk, not only for our industrial base, but also for our agricultural producers." This merger, in the end, could compromise our national safety. Union Pacific responded on Friday by saying that it is looking forward to submitting their application to the STB to "detail how this combination will be good for America, meet the threshold to advance public interest and increase competition." The railroad said it has won the support of key unions as well as others in order to "ensure that rail is not forgotten." Norfolk Southern has not yet commented. The railroads announced earlier on Friday that over 99% of both companies' shareholders voted for the merger. The STB could take between 12 and 18 months to review the deal. Railroads have been struggling with the volatile nature of freight volumes, increasing labor and fuel prices, and increased pressure from shippers regarding service reliability. After meeting with Union Pacific CEO Jim Vena in September to discuss the largest U.S. railroad merger for decades, Donald Trump stated that the merger "sounds great to me". Union Pacific is the dominant freight rail carrier in Western United States. Norfolk Southern, on the other hand, is the leading carrier in Eastern United States. Together, the two railroads form one of four major U.S. class I railroads along with BNSF Railway, CSX Corp and BNSF Railway.
Promising teenager skaters, ex-world champions amongst victims of Washington air crash
All 64 individuals aboard a flight from Wichita, Kansas, and three soldiers on a U.S. Army helicopter were believed dead on Thursday after the two airplane collided in a fiery surge near Washington, D.C.
. The victims consist of figure skaters, family members and coaches who had been going to a national training camp for top young professional athletes in Kansas. Among the flight's 60 travelers and four team members were Yevgenia Shishkova and Vadim Naumov, former world champions in sets figure skating who coached young skaters in the Boston area.
At least 5 members of a Washington plumbing professionals and pipefitters union were amongst the dead, the union said in a. declaration, without determining the victims.
Here is what we know about a few of the victims:
ASRA HUSSAIN RAZA
Raza, 26, sent out a text to her partner, Hamaad, from the. doomed flight as they approached Washington, saying she would. land in about 20 minutes.
Hamaad Raza, 25, who was waiting at the airport for her. arrival, never ever got another message, his dad, Hashim. Raza, informed Reuters.
Asra was whatever to us, Hashim Raza, holding back. tears with a quavering voice, said in a telephone interview as. he traveled from Missouri to Washington to fulfill his child. And. now my child is a widower at 25. What do I say to him? They. prepared to have kids, they were a lot anticipating. that.
The couple met at Indiana University Bloomington, where she. studied corporate financing and was a straight-A college student.
Hashim Raza stated when his kid first satisfied Asra, he stated,. I'm going to wed her.
Asra Hussain Raza later on earned her master's degree in public. health from Columbia University and got a job with a consulting. group in Washington, with the ultimate objective of working for the. federal government to improve public health, her father-in-law stated.
All she wanted to do was help individuals, and DC, she. thought, was the location to accomplish her goals, Raza said. And. she was such a terrific cook - Indian, Italian, Chinese food. I. informed her to open a dining establishment.
She traveled to Wichita about once or twice a month to assist. turn around a hospital, he stated.
She was an incredibly caring individual, he stated. She 'd call. just to state, 'I love you.'
SPENCER LANE AND JINNA HAN
Spencer and Jinna, both around 16 years of ages, trained practically. every day at the Skating Club of Boston in Norwood,. Massachusetts, according to the club's executive director, Doug. Zeghibe. The Lane household resided in Rhode Island, and the Han. household resided in the Boston area.
The two young skaters had been going to U.S. Figure. Skating's National Development Camp in Wichita, an elite. training camp that followed recently's U.S. nationwide. championships for skaters viewed as the future of the sport,. Zeghibe stated.
Spencer, in the best way possible, was an insane kid-- extremely. talented, extremely skilled, Zeghibe informed reporters at the. club on Thursday early morning. Has actually not been skating that long and. just soaring to the top of the sport - very fun, really. cerebral, a very good thinker.
Spencer posted a picture of the wing of the plane before it. took off from Wichita on Instagram, according to media reports,. with a caption listing Washington as the location.
In another post, he said getting approved for the camp had been a. long time objective. He thanked Shishkova and Naumov, among others,. for an fantastic experience.
Jinna was a wonderful kid, Zeghibe said.
Wonderful parents, excellent professional athlete, fantastic competitor, enjoyed. by all, he told reporters.
Spencer's mom, Christine, and Jinna's mother, Jin, were. also on the aircraft. Both were role model parents who made a lot. of sacrifices to assist their children master the sport, Zeghibe. said.
YEVGENIA SHISHKOVA AND VADIM NAUMOV
Russian-born Shishkova and Naumov, who were wed, won the. world championship in sets figure skating in 1994 and had. coached at the Skating Club of Boston given that 2017.
They were gifted and beautiful people, said Ludmila. Velikova in St. Petersburg, where she trained both skaters when. they were children. Zhenya (Shishkova) trained with me from the. age of 11 and Vladik (Naumov) from age 14. They resembled my own. kids.
The couple's kid, Maxim, likewise a skater, completed in 4th. location in the guys's complimentary skate at the U.S. championship games. recently. He left Wichita after the competition and was not on. Wednesday's plane.
Zeghibe explained Vadim Naumov as an old-school coach who. used the stringent Russian approach to his trainees.
You could not see Genia without breaking into a smile, he. stated, utilizing a label for Shishkova.
INNA VOLYANSKAYA
Russian-born Volyanskaya, a skating coach in the Washington. location, was on board the plane, according to a X post from U.S. Agent Suhas Subramanyam and a report from the Russian. news firm TASS.
Volyanskaya contended as a sets skater for the Soviet Union. in the 1980s. She coached young skaters at the Washington Figure. Skating Club, according to the club's site.
In a statement on Thursday, the club did not verify whether. any member or coach was on the flight but said it was. ravaged by news of the crash.
More details will be published when appropriate, the club. stated.
(source: Reuters)