Latest News
-
Kyiv reports that Ukraine and Azerbaijan are in negotiations on a gas import agreement.
Ukraine is in negotiations with Azerbaijan for gas imports from the South Caucasus nation this year, Kyiv’s energy minister announced on Monday. We are in the middle of discussions. Svitlana Hynchuk, a Ukrainian journalist for RBC-Ukraine, said that Azerbaijan was interested in the project. Ukraine has been testing Azerbaijani gas since the beginning of this year, as it looks for alternative sources of supply after Russian long-range missile attacks have severely damaged its domestic production. Hrynchuk stated that the test project has now ended and Ukraine is working to secure a deal for further supplies by 2025. Kyiv reported that earlier in August Russia had attacked the Orlovka Interconnector, a part of the Transbalkan Route, through which Ukraine receives its gas, including from Azerbaijan. Yulia Shvyrydenko, Ukraine's Prime Minister, said that the country plans to store 13,2 billion cubic meters of gas underground for the coming heating season. Separately on Monday, Kyiv’s Foreign Minister accused Russia of attacking a SOCAR oil depot owned by the Azerbaijani government for the second time within two weeks.
-
Google announces Tennessee for the site of a small modular nuclear reactor
Google and Kairos Power have selected Tennessee to build an advanced nuclear plant. The facility is expected to provide electricity for the Big Tech Company's data centres in the U.S. Southeast starting in 2030. Why it Matters Big Tech requires massive amounts of energy to scale up technologies such as generative artificial intelligence, which is used in data centers that are very energy intensive. These record energy demands are pushing U.S. energy consumption to new heights and driving the development of fresh energy sources such as next-generation nuclear power. Google announced last year that it would buy nuclear energy through multiple small modular reactors. The Tennessee reactor was the first of these to be deployed. The agreement would allow California-based Kairos to develop 500 megawatts, enough power to run about 350,000 homes. A 50-gigawatt modular small nuclear power plant is being built in Oak Ridge in Tennessee under a long term power purchase agreement between the utility Tennessee Valley Authority and Google to supply electricity to data centers in Alabama as well as locally. KEY QUOTE Google's Amanda Peterson Corio said, "This collaboration will accelerate the deployment and support of innovative nuclear technology and help to support our growing digital economies while also bringing carbon-free electricity to the electric system." According to the companies, this is the first time that a U.S. electric utility has signed an agreement for a power purchase contract for nuclear energy of the so-called Generation IV variety, which, according to most experts, is the safest and most sustainable form currently being developed. The Energy Secretary Weighs In In announcing site selection, U.S. Energy Sec. Chris Wright stated that "the deployment of advanced nuclear plants is essential for U.S. AI leadership and energy leadership." The Department of Energy assisted Kairos Power in overcoming technical and operational challenges, as well as regulatory ones, while participating in the Advanced Reactor Demonstration Program. DOE will continue to accelerate the next American Nuclear Renaissance. There are currently no advanced nuclear power stations available in the U.S.
-
Kyiv claims that Russia deliberately struck Azerbaijani SOCAR oil installations in Ukraine.
Ukrainian officials reported that Russian drones deliberately attacked an oil depot owned by the Azerbaijani State Oil Company SOCAR, in southern Odesa Region of Ukraine on Monday for the second time within two weeks. In an article published on X, Volodymyr Zelenskiy said that the "deliberate Russian attack...was not only an attack on us, but also on our relationships and energy security." Baku should "respond diplomatically and legally" to the actions he called "against Azerbaijani interests". SOCAR, a company that operates 60 fuel stations in Ukraine, and Azerbaijani officials have not yet commented. Russia has not commented publicly on the matter. The Ukraine energy minister said to reporters in Kyiv that it was "hard" to assess the damages and that rescue crews are still working. Two industry sources said that the attack on Monday followed a Russian drone attack in August, which damaged a SOCAR Oil Depot. According to them, at least four people were injured in the strike. The Russian military has often targeted Ukrainian energy and infrastructure facilities located far from the front lines. (Reporting and writing by Max Hunder, Yuliia dysa; editing by Hugh Lawson and Kirby Donovan).
-
Maersk contains fire onboard Marie Maersk vessel off Liberia; intensifies firefighting efforts
Danish shipping company Maersk announced on Monday that the fire on board Marie Maersk, which broke out last Wednesday off Liberia, had stopped spreading and that further firefighting efforts will be undertaken. Maersk stated in an email that the crew had been actively fighting the fire all weekend. The statement said: "We expect the firefighting effort to intensify once external firefighters board Marie Maersk, bringing further relief to Marie Maersk's crew." Maersk stated that the crew was in good health and the vessel would be taken to a refuge port. The company stated that it was unable to comment on whether the cargo had been affected by the fire. Reporting by Soren Sirich Jeppesen; editing by Jacob GronholtPedersen and Louise Rasmussen
-
Eletrobras and C3 AI partner to modernize Brazil’s power grid
The two companies announced on Monday that Eletrobras, a Brazilian power company, has partnered up with C3 AI in order to use artificial intelligence for the operation of the electric transmission network. Eletrobras will be the largest operator in Brazil in this segment. The tool C3 AI Grid Intelligence, which is aimed at monitoring and resolving problems in real-time, across all its transmission assets, will be implemented. The deal's value was not disclosed. In a joint press release, the companies stated that artificial intelligence will increase the resilience and reliability of the network on a large-scale, by, for example correcting failures faster. Eletrobras made its investment in AI at a time where investments in electrical networks have become more relevant worldwide. This is both a preparation for a complex and dynamic operation involving diversified electrical matrixes and a reinforcement of security in the face extreme weather events. Fires near transmission lines and substations are a major challenge for Brazilian transmission companies. Pablo Flores, Eletrobras Executive Manager of Protection, Automation and Control of Operating Systems, said: "We are modernizing our critical network monitoring processes, so that we can respond to incidents faster and more efficiently, while ensuring system availability and stability." (Reporting and writing by Leticia Fukuma; Editing by Diane Craft).
-
Azerbaijani oil exports through BTC pipeline fell 5.9% year-on-year amid contamination
Azerbaijani statistics showed that Azerbaijan exported 16.2 million tons of oil via the Baku, Tbilisi, and Ceyhan pipelines in January-July, a drop of 5.9% compared to a year ago. The route had been contaminated with tainted crude oil. BP operates the Azeri Chirag and Guneshli Oilfields. The BTC pipeline runs through Georgia into Turkey. Exports are down because of a gradual decline in Azerbaijani oil reserves. Last month, organic chloride was detected in Azeri BTC cargoes. This pushed the price differentials down to their lowest level in four years and delayed loading. Oilfields use organic chloride to increase extraction and it must be removed from crude before it enters pipelines. Although the extent of contamination and its effect on customers is still unclear, oil loadings out of Ceyhan have been disrupted for a few days. BTC Co, a pipeline company operated by BP and BTC Co, said on Monday that "while things are stabilising at the Ceyhan Terminal, BTC Co is continuing to load crude at Ceyhan, with a program of sampling in order to ensure quality." According to Kpler's data, the Azeri BTC loads from Ceyhan in July totaled 423,000 barrels a day (bpd), which is below the 561,000 scheduled bpd on the loading program. According to Azerbaijan’s Statistics Committee, the total amount of oil transported through Azerbaijan in the first seven month of this year was 21.6 million tonnes, 75.0% of which went through the BTC. Data showed that the volume of transit crude oil imported from other countries, such as Kazakhstan and Turkmenistan through the BTC dropped to 2.645 millions tons from 3.214 millions tons during the same period in 2024. (Reporting and editing by Kirby Donovan; Nailia Bagirova)
-
China's CNAF invests in private Chinese SAF factory
China National Aviation Fuel Company announced on Monday that it had agreed to purchase a stake in a sustainable biofuel plant owned by Henan Junheng Industry Group Biotech Co. This is CNAF’s second investment in a "green" jet-fuel maker that is privately controlled. CNAF, China's largest distributor of aviation fuel, is a major player in the world. CNAF announced that the agreement was signed on WeChat, but provided no financial details. Junheng, a company based in Central China, is one of China’s first commercial SAF refiners. It converts used cooking oil into low-carbon fuel. China is the largest UCO producer in the world. Junheng plans to expand its 400,000-metric-ton-per-year SAF factory in Puyang (Henan Province) to one million tpy by June 2026. According to a Jiaao filing, CNAF acquired a 10% stake in a SAF plant located in east China, controlled by Zhejiang Jiaao. The purchase price was 261 million yuan, or about $36,35 million. China, which is the second largest aviation fuel market in the world, has not yet announced a national mandate regarding the use of SAF. Last September, a pilot program was launched for the first time to use SAF on a dozen domestic flights departing Beijing, Chengdu Zhengzhou, and Ningbo airports. In March, the scheme was extended to include all flights leaving these airports.
-
After the Ukrainian attack, Budapest has said that Russian oil flow to Hungary has been halted.
Hungarian Minister of Foreign Affairs Peter Szijjarto stated on Monday that the Russian crude oil flow to Hungary was halted following an attack by Ukraine on a transformer on the Druzhba Pipeline. The Druzhba Pipeline, which transports Russian crude oil through Belarus and Ukraine and Hungary to Slovakia, is the main route by which Hungary imports its crude oil. Szijjarto posted on Facebook that he spoke to Russian Deputy Minister of Energy Pavel Sorokin, who informed him that experts are working to restore transformer station. However, it is unclear when deliveries will be resumed. Szijjarto said, "This latest attack on our energy security is outrageous & unacceptable." He didn't give any information about the time or location of the attack. The Ukrainian Ministry of Defence and Armed Forces, as well as the Hungarian Oil Company MOL, have not responded to immediate requests for comment. Slovnaft, the refinery in Slovakia that receives Russian crude via the same pipeline, did not respond to requests for comment. Hungary, unlike many other European Union nations, has maintained close business and political ties with Russia since Moscow's invasion of Ukraine in February 2022. Szijjarto declared last year that Druzhba would remain Hungary's pipeline Primary route for crude oil imports. The suspension of oil delivery on Monday follows a temporary stop last week. Ukraine's military has said On August 13, its drones struck the Uniecha pumping station located in Russia's Bryansk Region. (Reporting and editing by Andrew Heavens, with additional reporting by Yuliia Dvorakova and Vera Dvorakova from Gdansk)
Exporters' association reports that Ivory Coast cocoa fell 31.2% in July compared to the same period last year.
The Ivory Coast cocoa grinding fell 31.2% on an annual basis in July, to 39,301 metric tonnes, according to data released by the exporters' association GEPEX. Grinders cited poor bean quality and low quantities of the mid-crop.
From the beginning of the season 2024/25 in October to the end of July, the total grind of cocoa beans was 515,055 tonnes, a 4% decrease from the same period the previous season.
The director of a San Pedro-based international grinding company said that the "quality of the beans" was the main reason for the dramatic drop in July's grinding this year.
They are mediocre, and we reject a large amount of them due to the lack of fats and high acidity levels.
Exporters reported that between April 1 and August 17 the arrivals of cocoa beans at Abidjan and San Pedro, Ivory Coast’s two major ports, were only 350,000 tonnes, down by 30% from 500,000 tons in the same period last year.
Exporters said that grinders are also out of stock and will need to be rebuilt to get back to normal grinding rates during the main harvest.
"We're waiting until October to replenish our stock and get back to the level of grinding for the period. Just over 58,000 tonnes per month," said the director of an Abidjan-based grinding company.
This will require us being aggressive in our purchases from the beginning of the season.
GEPEX covers six of the world's largest grinding companies including Barry Callebaut Inc., Olam Inc. and Cargill Inc.
Ivory Coast's total capacity for grinding is around 750,000 tonnes. It is the top cocoa-producing country in the world and competes with Netherlands to be the number one grinding nation. (Reporting and editing by Anait Miridzhanian, Jan Harvey, and Ange Aboa)
(source: Reuters)