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Blackouts are more likely with record-high electricity demand forecast to test the largest US power grid
The PJM interconnection predicts that winter power demand will be at a record high ahead of the weekend, causing transmission line congestion and increasing electricity prices. Congestion makes it impossible to deliver the cheapest electricity to homes and businesses. This forces PJM, and other grid operators, to dispatch power plants that are less efficient and costlier to meet demand. PJM spot wholesale electricity rates have risen to over $1,000 per megawatt-hour this week, in areas where congestion on power lines has restricted the flow of energy. Turbulence in power lines and equipment can also cause small blackouts that can spread if not addressed. PJM has issued five 'warnings' to utilities this week about possible small power cuts due to transmission line issues. PJM has not yet ordered any power cuts. According to analysts and PJM, the limiting of natural gas supplies 'to power plants has also played a significant role in causing outages for generators and a rise in spot prices. PJM, the company that manages electricity for 67 million residents in 13 Mid-Atlantic and Midwest states, as well as Washington D.C. forecasts that more than 1,400 lines at high voltage will be affected on Thursday, with interruptions averaging 'nearly thirteen hours. Around 64% of the restrictions will last between 1-3 hours, and around 30% will be lasting from 4-12 hours. PJM data show that the turmoil is a continuation of a pattern which began to emerge late last week. According to PJM, on Wednesday morning power lines and transmission gear serving Fort Martin Power Station in West Virginia, a coal plant located near the Pennsylvania border had constraints. PJM data shows that before heavy snowfall and freezing temperatures hit eastern U.S. last week, only 60 power lines were affected by congestion in PJM's network. The constraints lasted an average of 4 hours. PJM and the electric grids of New York and New England are reporting that their high-voltage power lines are overloaded due to an increase in electricity demand, or have equipment problems caused by temperatures above 0 degrees Fahrenheit. PJM expects that electricity demand on Friday will reach 148 gigawatts, a record-breaking winter high. On Wednesday morning, PJM’s average spot -electricity price was around $730 per MWh. Prices in the Dominion -Energy zone were more than twice as high at approximately $1,600 MWh. The financial firm LSEG reported that the average gas production in the Lower 48 States has dropped to 106.1 billion cubic feet per day in January. This is down from a monthly high of 109.7 bcfd set in December. According to LSEG, the daily output is expected to increase for a third consecutive day to 97.5 bcfd, after dropping to a 2-year low of 92.5 bcfd Sunday. This was mainly due to frozen wells in Texas Louisiana and Oklahoma.
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NY regulators oppose Williams' proposed PA-NY Constitution pipeline
New York's Environmental Regulator said on Wednesday that it had filed a complaint with the federal energy regulators in opposition to the bid by Williams Cos, which is leading Constitution Pipeline to revive a permit for building canceled natural-gas pipelines from Pennsylvania to New York. Constitution has recently asked the U.S. Federal Energy Regulatory Commission for a reissue of a Certificate Of Public Convenience And Necessity. This is a necessary?permit required to build the controversial pipeline. In a filing made to FERC Wednesday, the New York Department of 'Environmental conservation' said it was opposed to Constitution's request. It claimed that the move would override its oversight authority under the Clean Water Act. The DEC stated that despite its proposed 99-mile pipeline crossing New York, Constitution is trying to "bypass important environmental reviews and undermine New York State's regulation authority." DEC stated that it has not waived its Clean Water Act Section 401 Authority and will explore all options available to vigorously defend state rights. Williams officials were not available to comment immediately. Williams cancelled Constitution in 2020 and the?NESE by 2024, after fighting for years to get permits from state regulators, particularly water permits. In May, as part of an agreement with New York Governor Kathy Hochul, the Trump Administration used New York's reconsideration to Williams' proposed gas pipelines in the state. This was done in order to lift the federal ban against the construction of the Norwegian energy firm Equinor's Empire Wind off-shore wind farm near?New York. Hochul refused to approve either pipeline project, but said that the state would work with the U.S. Administration and private entities on projects which meet the legal requirements of New York law. The DEC granted a permit to the NESE in November. Reporting by Ashitha Shivprasad from Bengaluru, and Scott DiSavino from New York. Editing by Aurora Ellis
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Air Canada adds winter routes in Europe and Latin America
Air Canada announced Wednesday that it has expanded its winter 'network' to Europe and Latin America. The airline will begin new flights from December of this year to Ecuador's capital Quito using the Boeing 787 Dreamliner. Airlines in North America are increasingly relying upon premium cabins, business travel and loyalty programs to increase their bottom line. Mark Galardo is president of cargo for Air Canada. "We will continue our'strategic' expansion into Latin America by taking advantage of the continued demand strength and cargo opportunity, and leveraging a brand new Airbus A321 XLR Base at our Toronto-Pearson Global Hub to enable year-round services to Copenhagen and Manchester," he said. Air Canada announced last week that it would be expanding its route with non-stop flights from December 2026 to Sapporo. Separately, the?Unifor union, which represents about 6,000 employees at the airline, announced that it has opened collective bargaining with airport and customer service personnel ahead of their contract expiration on February 28, 2026. (Reporting from AnshumanTripathy in Bengaluru, Editing by TasimZahid)
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Fuel shortages are a risk when Balkan truckers protest EU regulations.
Western Balkans truckers' protests against restrictive EU entry laws have led to fuel shortages and losses of business as they blockaded cargo terminals at the borders of EU countries. Truckers in?Bosnia and Herzegovina?, Serbia?, Montenegro? and North Macedonia?launched protests against the EU’s new stricter entry/exit system, under which they could face detention and expulsion for exceeding Schengen's visit limits. The Montenegro energy ministry warned on Tuesday night that the country may face fuel shortages as a result of a blockade in the Adriatic port?of Bar. This is the main entry for fuel imports from overseas into Montenegro. Montenegro does not have its own?oil refinery capacity. It also has its largest fuel depots. The blockade of border crossings between?the four countries has halted the transport along an important road corridor connecting the EU to Turkey and the Middle East. According to a survey by the Foreign Trade Chamber published on Wednesday, Bosnian businesses have lost around 8 million euro ($9.55million) since Monday. The losses could reach 22 million euros, if protests continue for more than a week. The Montenegrin Energy Ministry has warned that the oil companies estimate that the current fuel supply is effectively reduced to what's available in petrol stations. This would only allow the market to function for a few days. The Montenegrin Police?said that the truckers had a permit for protesting until Thursday midday. DRIVERS DEMAND EU ACTION The Logistika association which represents 47,000 transport employees reported that in the past year, over 100 Bosnian truckers were deported because they exceeded the 90-day limit for staying in the EU. Another?100 deportations were announced last week. Zijad Sric, a transporter, said: "We demand the European Union to stop the discrimination of Bosnian truckers urgently." "We are not?migrants or illegal workers nor tourists." Members of Logistika said that the drivers will continue their protests until other demands are met, including a refund on excise tax on oil and the return of VAT. They also want the government to reduce motorway tolls. Since last year, Bosnian truckers protested to demand government support for the transport sector. ($1 = 0.88375 euros) Reporting by Aleksandar Vaovic in Belgrade, and Daria SitoSucic in Sarajevo. Editing by Ros Russel
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Gulf oil giants make billions in infrastructure deals
Gulf Arab national oil firms are now well-versed in the art of raising funds while maintaining control of oil and gas assets. This has helped them raise billions for their ambitious diversification plans. Kuwaiti media reported Wednesday that the country could offer investors a stake of its oil pipeline assets by next month. This would mirror similar moves made by other regional countries. Here are some key facts about such deals. ADNOC of the UAE Abu Dhabi National Oil Company, in 2019, created a new company, ADNOC Oil Pipelines. It leased out its 18 pipelines to a consortium that included BlackRock and KKR for a period of 23 years, raising $4 billion. The investors bought a 40% stake, while ADNOC retained 60% of the company and had full control. ADNOC will form ADNOC Gas Pipelines in 2020 and sell a 49% share to a group consisting of six investors. These include Global Infrastructure Partners, Brookfield Asset Management and Singapore's sovereign fund GIC. The deal raised $10 billion. Lunate, Abu Dhabi acquired the?40% stake in the oil pipeline from BlackRock and KKR on April 20, 2024. Snam, the indirect owner of the gas pipeline, announced that in January 2024 it sold its stake to Lunate. Lunate, an Abu Dhabi-based alternative investor manager, is part of the business empire headed by Sheikh Tahnoun Bin Zayed Al Nahyan. KKR bought a minority share in ADNOC Gas Pipelines in October. SAUDI ARAMCO Aramco sold its 49% stake in Aramco Oil Pipelines Co. to EIG Global Energy Partners for $12,4 billion over a 25-year period. In the same year, Aramco Gas Pipelines Co. was formed and a 49% share of it was sold to a group headed by BlackRock and Hassana Investment Co. Aramco, a consortium led Global Infrastructure Partners and BlackRock, signed a lease-and-leaseback agreement for infrastructure surrounding its Jafurah project in 2025. Aramco retained the majority of ownership and control over all transactions. Aramco was reported to be looking to sell five gas-fired plants, which could bring in around $4 billion. This is part of an effort to raise funds. According to a report on Wednesday, the oil giant plans to sell within weeks. Oman's OQ Oman will sell a 49% share in its gas network unit, OQ Gas Networks via an IPO in 2023. This IPO is expected to raise about $750m. Fluxys, a Belgian company and the Qatar Investment Authority in Qatar are among the key investors. OQ retains 51% ownership, and has operational control. BAHRAIN'S BAPC In 2024, Bapco Energys sold a minor stake in the Saudi Bahrain oil pipeline BlackRock Infrastructure Fund. This was Bahrain's very first infrastructure-based deal. The deal's value wasn't disclosed. Bapco retains majority ownership as well as operational control. KUWAIT PETROLEUM ?CORPORATION (KPC) KPC CEO Sheikh Nawaf Nasir al-Sabah said that the company is looking at a sale and leasingback deal to sell and lease back its oil pipelines. The deal would be similar to those used by ADNOC or Aramco. He did not give any figures. According to a report on Tuesday, the deal could be launched as early as February. It?could raise as much as $7 billion. Sources have confirmed that HSBC, JPMorgan, and Centerview Partners will be advising on the deal. HSBC also offers potential buyers staple finance to support their investment in pipelines. KPC will retain its majority ownership and operational controls. Ali AlQadhi, the head of BlackRock's office in Kuwait recently opened. BlackRock has previously refused to comment on the planned KPC deal. It is not clear whether BlackRock will play a role in this.
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Officials say that the US has handed over a seized tanker vessel to Venezuela
Two U.S. officials have confirmed that the United States is returning a tanker it seized in Venezuela this month. Two U.S. officials told?that the United States is returning a tanker to Venezuela that it seized this month. Since late last year, the United States has made seven arrests in an effort to seize oil tanks linked to Venezuela. Officials who spoke on condition of anonymity said that the supertanker M/T Sophia, which is being handed over to Venezuelan authorities, was the Panama flagged tanker. The officials did not specify why the tanker had been returned. The U.S. Coast Guard - which leads interdiction operations and seizures - did not respond immediately to a comment request. The Coast Guard and U.S. Military forces intercepted the Sophia on 7 January. The administration claimed that the Sophia was a "stateless dark fleet motor-tanker" and under sanctions. Trump's foreign policy in Latin America has been focused on Venezuela. He initially aimed to remove Venezuelan President Nicolas Maduro. Trump, after?failing diplomatically to find a solution? ordered U.S. troops to fly into Venezuela to capture him and his wife in a daring night raid on January 3, 2019. Trump has since said that the U.S. intends to control Venezuela's crude oil resources indefinitely, as part of a $100 billion plan to rebuild Venezuela's deteriorating oil industry. Reporting by Idrees Al and Phil Stewart, Editing by Chris Reese and Rod Nickel
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Storm Kristin kills three in Portugal and barrels into Spain
Storm Kristin, which swept through central and northern Portugal on Wednesday and knocked down trees, damaged houses, and disrupted rail and road traffic, killed three people. According to emergency services, a person was killed when a fallen tree hit their vehicle in Vila Franca De Xira on the outskirts Lisbon. According to the local council, two more people were killed in central district of?Leiria – one of the worst affected areas. In a country with nearly 11 million inhabitants, civil protection authorities reported more than 3,000 weather related incidents. These were triggered by gusts of wind up to 150 km/hr (93 mph), heavy rainfall and snowfall. Grid operator E-Redes reported that technical teams were working to restore power to about half a million customers by the afternoon, while as many as 855 000 had been without electricity earlier. After passing through Portugal, it moved eastward into Spain. The country is still recovering after a previous storm, Storm Joseph. On Tuesday, strong winds brought down a palm in Torremolinos. A woman was killed. Snowfall in Spain affected more than 160 roads early Wednesday morning. This included 27 of the main highways, including the A-6 connecting Madrid to the northwest. In central Madrid, snow also covered the rooftops but did not cause any major disruptions. AEMET, Spain's weather agency, warned of very strong winds in large parts of the country, some reaching hurricane-force gusts. The authorities issued a "red alert" in certain parts of the southern Almeria Province due to the intensity and speed of the wind. In some places, local authorities have closed parks and suspended outdoor sports and educational programs.
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As attacks hit cities throughout Ukraine, a Russian strike kills a couple near Kyiv
Overnight, Russia bombarded cities in Ukraine with drones, a missile and other weapons, killing two people near Kyiv, a day after a train attack that killed five people. This was ahead of the weekend's new round of peace negotiations. Local media reported that the woman's daughter, aged four, survived the attack. Four people, including two young children, were treated by medical personnel after the attack, according to officials. Radio Free Europe reported that "when I carried her out the girl began crying very loudly, and she then started shaking violently," Marian Kushnir a journalist, who was the neighbour of the couple deceased, said. "I was in a great deal of pain because I'd never felt such emotions before in all my 10 years in war. When, holding a four-year old crying child in my arms?I realized that her mother had died." Volodymyr Zelenskiy, the president of Ukraine, condemned the attack against the apartment building as well as the second short-range missile strike on what he called a?residential area in Zaporizhzhia without military targets. He wrote on Twitter: "We will be fair to Russia in response to this and similar attacks." Ukraine and Russia met for peace talks in Abu Dhabi, mediated by the United States, last week. Further meetings are expected to take place on Sunday. However, Russia continues to bombard Ukrainian cities, and both countries continue attacking each other's infrastructure. Zelenskiy referred to the latest attack as "terrorism" while Ukraine was still reeling after Tuesday's drone attack on a passenger rail in the northeast, which killed five people. Russia has not commented on the attacks. Both Moscow and Kyiv have denied that they are targeting civilians during the war. The four-year anniversary of the conflict is February 24. Ukraine's Air Force said that Russia launched a ballistic missile Iskander M and 146 drones over night, of which 103 were shot down. Emergency services reported that a 17-storey residential block in Kyiv was struck, causing minor roof damage and shattered windows on upper floors. ODESA AGAIN ATTACKED, PORT INFRASTRUCTURE DAMAGED Other locations in the country were also affected, including Odesa (a southern port city), as well as Zaporizhzhia (a Zaporizhzhia-based city) and Kryvyi Rh. Serhiylysak, head of Odesa's military administration said that three more people have been injured in the city, which declared a day of mourning following a drone attack overnight on Tuesday. Ukraine's Sea Ports Authority stated that the Black Sea Port of Pivdennyi was attacked but "continued to operate normally". Oleksiy Kuleba, deputy prime minister, said that the strike caused damage to manufacturing facilities, hangars and a locomotive. It also sparked an fire, which was currently being put out. In recent months, Moscow has repeatedly attacked Ukraine's ports as a retaliation to Kyiv's attacks on unregulated oil tanks sailing towards Russia. The emergency services reported that the attack caused a fire and damaged a monastery. Ivan Fedorov, the Governor of Telegram, reported that Russia attacked Zaporizhzhia at dawn. He said that six people were injured in the attack. The attackers also damaged 14 apartment blocks, knocking out some of the electricity. Oleksandr Vikul, head of the military administration, said that two people were injured by a missile attack overnight in the central city Kryvyi Rh. He added that the attack "significantly damaged" an infrastructure facility. Zelenskiy stated that 243?buildings were left without heating in Kryvyi RIH as a consequence. Russia has wreaked havoc on Ukraine's electricity grid this winter. Many Ukrainians have been left without heat or power for long periods of time. Zelenskiy confirmed that repairs are still being carried out to bring the heating back online for 700 apartment blocks in Kyiv, following a strike on Saturday which knocked out the system for about 6,000 structures. (Reporting from Anna Pruchnicka and Max Hunder, both in Gdansk; Editing done by Andrew Heavens and Ros Russel)
Morocco to open Nador West Med port in Q4 2026
The royal palace announced on Wednesday that Morocco would begin operating Nador West 'Med, its second Mediterranean deepwater port in the fourth quarter of this year. It aims to duplicate the success of Tanger Med - the Mediterranean and Africa’s largest port.
The palace announced after a meeting presided over by King Mohammed VI that the $5.6 billion facility would open with a?annual capacity? of 5 million containers. This could be expanded to 12 million, according to the palace.
It said that the new facility included 5.4 km breakwaters, four km of quays, and four power plants.
The terminal was built to house Morocco's first liquefied natural gas terminal with a capacity of 5 billion cubic meters per year, as well as a hydrocarbons terminal.
It said that the project also provides 700 hectares of industrial and logistic activity. This has already attracted private investment worth 20 billion dirhams.
(source: Reuters)