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Industry documents reveal that India's stranded solar projects have doubled to more than 50 GW.
India's stranded solar power capacity, which is the amount of renewable energy that has been awarded but not yet installed, has more than doubled in nine months due to delays with transmission lines and other legal and regulatory issues. The number of renewable projects in India that have won power generation tenders but still need to sign power purchase contracts with buyers has risen to more than 50 gigawatts, India's Sustainable Projects Developers Association said on June 27, in a note to the Ministry of New and Renewable Energy. Another letter sent on 4 October by the SPDA showed that stranded project of more than 20 GW was compared to another. Both letters were examined by. The SPDA reported that India's installed renewable energy capacity is 184.6 GW, which is a quarter of the stranded solar-and-wind capacity. In a letter sent to the Ministry of Renewable Energy on June 27, the SPDA stated that "India's transition towards energy independence is more than just building solar and wind power capacity. It is about making sure clean energy reaches the public at the lowest possible cost in the shortest time." The ministry didn't immediately respond to an inquiry for comment. India is accelerating its renewable energy as it strives to double the non-fossil power capacity of India to 500 GW in 2030. Government data revealed that a record 22 GW solar and wind power capacity was installed in the six-month period ending June. Two industry officials with knowledge of the situation said that projects worth billions to companies such as JSW, NTPC, Adani Green and ACME Solar are stranded. Requests for comment from the companies were not answered. As part of the SPDA's core committee, leaders from some of India's biggest renewable energy producers Renew Power Group, ACME Group, and Avaada Group are included. In a letter sent in June, SPDA stated that delays in transmission infrastructure, especially in states like Rajasthan and Gujarat, have caused many solar plants, to miss their commissioning deadlines. This has led to financial penalties as well as the potential loss of government incentives. In the same letter, the SPDA asked the government to recognize delays in transmission construction and approvals as events of force majeure to protect developers against financial penalties and to expedite the regulatory permissions. It said that renewable projects were also stalled due to long-running legal disputes about land and environmental permits. Several developers had halted their operations because of unresolved cases. (Reporting and editing by Frances Kerry. Sudarshan Varadan)
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What Moscow could do if Trump stopped Russian oil exports to India
The U.S. president Donald Trump's request to India to stop Russian oil imports may threaten billions of dollars in Russian revenue, and Moscow could retaliate with the shutdown of a major U.S. oil pipeline. This could lead to another global supply crisis. India, the third-largest oil importer in the world, is now the largest buyer of Russian crude oil. It purchases up to 2,000,000 barrels of oil per day, which represents 2% of the global supply. China and Turkey are also among the top buyers. Analysts at JP Morgan stated this week that the Indian route was so vital to the Kremlin, if it were disrupted, it would prompt the Kremlin to take retaliation by shutting the CPC pipeline in Kazakhstan, which is owned by U.S. oil giants Chevron & Exxon. The U.S. Bank said that Russia has leverage. Trump has threatened to impose tariffs up to 100 percent on countries who buy Russian oil, unless Moscow agrees to a peace agreement with Ukraine before August 7-9. On Friday, a 25% tariff will be applied to all U.S. imports of goods from India. Reports on Thursday indicated that Indian state refineries halted their purchases of Russian crude oil in the wake of Trump's threats. REALIGNMENT India has only been buying large amounts of oil from Russia since 2022, when it became the second largest oil exporter in the world. After Europe, Russia’s former largest client, banned Russian oil due to its military actions against Ukraine, India became the top importer. Rosneft, the Russian oil giant, has a large stake in India's largest oil refinery. According to data from the Indian government, India will be 35% dependent on Russian oil imports in 2024-25. These imports are expected to total $50.2 billion. Aldo Paribas' Aldo Spangjer said that cutting off the flow would require massive realignment in trade flows. He added that global supply is already stretched. According to LSEG, India purchases all types and grades of Russian crude oil, including Urals and Sokol from Western ports and ESPO and Sokol in the Pacific, as well as some grades from the Arctic. India would be the worst affected if it stopped buying Urals, as India purchases up to 70 percent of Russia's largest export grade. India's oil ministry said that the country could find an alternative supply. India would have to increase imports of Middle Eastern and U.S. crude oil or reduce refining operations, which could lead to an increase in diesel prices in Europe. Neil Crosby, from Sparta Commodities, said that Indian refiners may have to paring runs because they will struggle to replace heavy Russian crude. Falling Income Russia continues to sell oil despite international sanctions since 2022, even though it does so at a discount to global prices. The fall in global prices has already put pressure on Russia's income. The finance ministry reported that its oil and gas revenues fell 33.7% on an annual basis in June, to their lowest level since January 2023. Calculations show that revenues will drop 37% in July as a result of lower global oil prices, and a stronger rouble. The traders stated that if India ceases to buy oil, Russian companies will be forced to store it on tankers, pay extra for shipping costs, and offer large discounts to new customers. Traders said that a loss of 2,000,000 bpd in exports could also prompt Russia to gradually reduce its oil production, which is currently at 9,000,000 bpd. Russia's production is currently regulated by OPEC+ quotas. How can Russia respond? JP Morgan reported that Russia could divert up to 0.8 million barrels per day of oil towards Egypt, Malaysia Pakistan, Brunei South Africa, and Indonesia. Moscow could also interrupt the CPC pipeline in order to ensure that the West suffers the consequences of higher oil prices. ExxonMobil, ChevronShell, ENI, TotalEnergies and Chevron ship up to one million barrels per day via CPC. The pipeline has a total capacity of about 1.7 million barrels. Crosby said that if we have a noticeable and substantial problem clearing Russian crude, and Putin shuts down CPC, the oil price could rise to well over $80 a barrel. The CPC pipeline crosses Russian soil and the consortium clashed against Moscow which ordered that it suspend operations in 2022 or 2025 for several days citing environmental regulations and tanker regulations. If CPC and Russian oil flows were to be stopped together, it would disrupt global supply by 3.5 million barrels per day or 3.5%. JP Morgan stated that the Trump administration will find it impossible to sanction the second largest oil exporter in terms of causing oil prices to spike.
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Document reveals US plans to fund the deportation of Costa Ricans
According to a document obtained by, the U.S. State Department plans to spend $7.85m to help Costa Rican deport immigrants. This is similar to an earlier Biden program that was criticized by advocates for migrants. The document states that the State Department will transfer funds from its "economic assistance fund" (which is used to support economic development in countries with allies) to the Department of Homeland Security which oversees immigration enforcement. DHS will work with Costa Rican officials to facilitate the deportation of Central American citizens. Costa Rica accepted a request from the Trump administration earlier this year to accept 200 illegal immigrants who came from Africa, Asia, and Europe. Costa Rica was supposed to send these immigrants back to the countries where they originated, but dozens of them remain in the Central American nation. When asked for comment, State Department said that the funds would be used to deport immigrants who were deported by the United States, and not to repatriate them. A spokesperson stated that the program would help the Costa Rican Immigration Authorities to build their capacity in order to prevent illegal migration from crossing its borders. It will also provide training and resources for asylum screening. The document provided details on the money transfer but did not specify when or if the deportation would take place. The document states that the Costa Rica agreement is "in part", based on an arrangement signed in 2024 by the administration of the former U.S. president Joe Biden with Panama. Under this deal, the U.S. paid Panama to detain migrants traveling through the country while they were travelling from Colombia to U.S.A. At the time, some migrant advocates as well as elected Democrats claimed that the agreement could prevent vulnerable populations from accessing the U.S. Asylum system. The document was sent to certain congressional offices in the last few weeks. It stated that the Department intended to assist the Government of Costa Rica to conduct deportation operations of migrants who do not have international protection or any other legal basis to remain. The activities would provide Costa Ricans with technical and logistical advice, including air transport, for deportation processes. Costa Rica's public security and immigration ministries referred all questions to the President's office and foreign affairs ministry. Both entities did not respond to requests for comments. NEW ARRANGEMENTS FOR DEPORTATION Since Donald Trump became president of the United States in January, his administration relies on several novel arrangements to facilitate deportations. There have been deals made with other countries, including Costa Rica, to accept illegal immigrants into the U.S. regardless of their connection to the nation where they were sent. Some of the countries that accept deportees are weak or have poor human rights records. This raises safety concerns. The arrangement described in the document may be similar to that of the Biden administration with Panama in 2024, but there are some differences between the current situation in Costa Rica and the 2024 situation in Panama. The northward migration from Colombia through the Darien gap to Panama, then on to Costa Rica and to the U.S.A. has been dramatically slowed. Some Venezuelan migrants are also transiting through Costa Rica to continue their journey southward after they gave up trying to enter the U.S. because of Trump's crackdown against illegal migration and the elimination of Biden’s humanitarian parole program. The document didn't specify which countries Costa Rica will deport migrants to, so it is possible that some may be sent to third-party countries. It is not known if the Trump Administration plans to create similar programs for funding deportations of Latin American nationals. Kristi Noem, Homeland Security Secretary, has visited several Latin American countries to discuss immigration, including Costa Rica. El Salvador, and Chile. (Reporting and editing by Don Durfee and Alistair Bell in Washington, Additional reporting and Editing by Alvaro Murillo and Michael Perry in San Jose)
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German police discover more damages along the railway disrupted due to suspected sabotage
German police reported on Friday that they had found damage at a second site along a western German railway line where traffic was disrupted the day before due to an incident in a cable-tunnel that authorities suspected of being an act sabotage. The police in Duesseldorf, a city located in western Germany, said that investigations are still underway but declined to say what type of damage was found. The fire that broke out in the city of Duisburg and its surrounding areas caused significant delays on Thursday. Investigators ruled out any accidental causes. According to Bild, which cited the news agency DPA as a source, the damage discovered on Friday was caused a similar incendiary device found the previous day. There have been no reported injuries.
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Data shows that Russian gas exports to Europe increased 37% m/m during July.
Calculations showed that the average daily supply of natural gas to Europe by Russian energy giant Gazprom increased 37% from a previous month when maintenance had reduced it, according to calculations released on Friday. After Ukraine decided not to renew a transit agreement with Moscow that expired in January, the only route for Russian gas to reach Europe is through the TurkStream pipeline and Turkey. According to calculations based on data provided by the European Gas Transmission Group Entsog, Russian gas exports through the TurkStream pipeline increased from 37.6 million cubic metres per day to 51.5 mcm/day in July. This was an increase of 4.7% compared to July 2024, when the mcm stood at 49.2 Calculations show that the total Russian gas supplied to Europe through TurkStream in the first half of the year was around 9.93 billion cubic meters (bcm), compared to the 9.3 bcm delivered during the same time period last year. Gazprom exported 18.3 billion cubic meters of gas to Europe between January and July last year. This figure includes volumes that were transited via Ukraine. The company did not reply to a comment request. It hasn't published its monthly statistics since 2023. Gazprom's data and calculations indicate that in 2022, Russia will have supplied 63.8 billion cubic meters of gas via various routes to Europe. This fell by 55.6%, to 28,3 bcm. However, it increased to about 32 bcm. Gas flows into Europe peaked between 2018 and 2019. The annual gas flow to Europe was 175-180 bcm. (Reporting and editing by Andrew Osborn.)
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Europe's airline shares surpass US counterparts amid tariff turmoil
In the past six months, European airline shares have surged despite geopolitical uncertainty and economic instability. Meanwhile, U.S. airline stocks have fallen amid a decline in travel spending. Since the beginning of this year, there has been a lot of volatility in the stock market as President Donald Trump’s trade war has shaken business and consumer confidence. Travel spending is a major discretionary expense for consumers and businesses. The prospects of a weak economy in the U.S. coupled with high inflation has impacted shares of Delta, United, and American Airlines. The two main European flag carriers, Lufthansa & Air France-KLM, reported better results for the second quarter on Thursday. They were able to overcome concerns about transatlantic travel while also boosting their share prices as investors benefited from cost discipline. The shares of British Airways owner IAG have continued to rise, although more modestly, than their European counterparts. Analysts said that it helps to have Americans still eager to travel to Europe with European carriers. Air France, in particular, has boosted its luxury image to boost sales of premium seats. Air France-KLM is the leader in terms of share performance amongst major European carriers, followed by Lufthansa, IAG and Lufthansa. All the major American carriers have had a down year for the most part, but there has been an increase in the last few months. SIGNS OF IMPROVEMENT The performance in terms of share and results comes despite complaints from European airline chief executives that they are subjected to undue regulations tied to airport taxes and environmental costs compared to international carriers. As a result of Trump's passage of his tax and spending bill, and the clarity that has been provided on tariffs, some macroeconomic concerns have been eased for U.S. Airlines. Their shares are now recovering from their lows of this year and there is hope for an improvement in travel demand. Dudley Shanley, analyst at Goodbody, said: "Flag carriers are increasingly motivated by the realisation that North Atlantic demand is a little lower but not as bad as investors had feared." Even so, the earnings forecasts for U.S. Airlines in 2025 have been significantly revised down. Conor Cunningham is an analyst at Melius Research. He said that the confidence of consumers and corporate travelers could lead to a change in the travel industry. He said: "We could look back at the tariff-induced pause as a temporary pause."
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British Airways owner IAG beats second-quarter profit estimates
IAG, the owner of British Airways, reported earnings for the second quarter that were better than expected on Friday. This was due to strong demand from transatlantic travelers despite concerns about possible knock-on effects caused by President Donald Trump’s tariff war. Air France-KLM, Lufthansa and other European airlines have largely avoided the turmoil caused by tariffs. Both companies reported strong second quarters this week and confirmed their annual forecasts. IAG posted an operating profit for the third quarter of 1,68 billion euro ($1.92 billion), compared to the average analyst forecast of 1.4 million euros, according to an LSEG survey. This is up 35% compared to a profit last year of 1.2 billion euro. "We continue benefiting from the trend of structural shifts in consumer spending to travel." We continue to focus on our core geographies and market-leading brands, where we see strong performance," said Chief Executive Luis Gallego in a press release. The group confirmed that it had made its full-year forecasts, and noted that there was strong demand for its products in North America as well as Latin America. U.S. Airlines haven't fared well. Delta pulled its full-year forecast this spring because of concerns over falling demand. IAG was one of the best performers in terms of share performance compared to other European carriers over the past few years. However, this year it has fallen behind rivals Lufthansa & Air France-KLM who have recovered from their cost pressures.
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Flight attendants sue Boeing over MAX 9 mid air panel blowout
Four flight attendants from Alaska Airlines 737 MAX 9 who were injured by a cabin panel that blew out in mid-air last January are suing Boeing. They claim they suffered physical and mental injuries. They are suing for compensation in separate lawsuits. They claim that they have suffered physical and mental injury, emotional distress, and other financial costs. Tracy Brammeier said that each of the four plaintiffs had acted bravely by following their training, putting the safety of their passengers first, and doing so while they feared for their own lives. They deserve compensation for the life-changing trauma they have experienced. Alaska Airlines and Boeing both declined to comment. The lawsuits, filed in Seattle's King County Superior Court on Tuesday, accuse Boeing and its subsidiaries of negligence in production, sale and repairs of 737 MAX aircraft and parts. The filings stated that "Boeing was aware or should have been aware of the quality control problems present in the 737 MAX aircraft line." The incident caused a crisis at Boeing and led the U.S. Justice Department, which opened a criminal probe into the company, to declare that Boeing did not comply with the 2021 deferred prosecutor agreement. The National Transportation Safety Board (NTSB), which was established by the United States government to ensure the safety of air travel, said that Boeing failed to provide sufficient training, guidance, and oversight in order to prevent this incident. The board criticised Boeing's safety culture, its failure to install key bolts into the panel during production and the Federal Aviation Administration for ineffective oversight. Reporting by Shivani Tana, Chandni Shah and Gursimran Kour in Bengaluru. Additional reporting by Dheeraj Kumra and Editing Clarence Fernandez.
Azeri BTC arriving at Ceyhan is within normal specifications, BP states
Azeri BTC Crude Oil arriving at BTC Ceyhan Terminal in Turkey has returned to its normal specifications, a BP spokeswoman said on Thursday.
Last week, it was discovered that Azeri BTC crude cargoes contained organic chloride. This caused the price differentials between them to reach a record low of four years and caused several days delay in loading, partly due to extra testing each cargo underwent.
The BP spokesperson stated that oil loadings are still being done from Ceyhan tanks containing oil of the right specification, while BP works with Azerbaijan’s Socar in order to manage oil of the wrong specification found in other tanks.
According to Kpler's data, 425,000 barrels of Azeri BTC were loaded daily from Ceyhan between 1-30 July. This is compared to 561,000 bpd that was scheduled for the July loading program.
The exact date of the contamination and the number of cargoes affected are still unknown. Reporting by Robert Harvey, Shadia Nasralla and Kirovan Donovan.
(source: Reuters)