Latest News
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Cheniere receives $370 million in tax breaks from Trump's IRS for 'alternative Fuel'
Cheniere Energy Inc revealed this week that the 'Trump administration gave it a tax credit of $370 million for burning liquefied gas in their massive 'tankers. Critics argued that such a credit was intended for a 'far smaller boat. In financial disclosures, the company announced on Thursday that it won the IRS tax break for alternative fuels. The tax credit was part of a 2005 law signed by George W. Bush that was intended to subsidize a variety of alternative fuels, including those derived from biomass, coal and natural gas. The credit was intended to be claimed only by those who operate motor vehicles or'motorboats. The IRS doesn't define the size of motorboats, but federal regulations do. They are defined as being smaller than 65 feet (20 m), which is tiny when compared to LNG tankers that can be up to three football fields in length. William Henck said that Cheniere had taken a "very aggressive position" in relation to the tax credit. Does a tanker sound similar to a motorboat? Lukas Shankar Ross, deputy director of the environmental non-profit group Friends of the Earth called Cheniere’s claim of the credit "a new kind of fantastic and incredulous interpretaion of the tax codes that has been rubber stamped by an IRS?whose independence is increasing in question." The Washington Post was the first to report Cheniere's disclosure. Cheniere's CEO Jack Fusco, who donated to Donald Trump 2024, declined to make a comment. The IRS did not respond immediately to a comment request. Cheniere, which exported the first LNG cargo out of the lower 48 state 10 years ago, said a few months earlier that it had invested $50 billion in expanding its two export facilities in Texas and Louisiana. It aims to double production to 100 million tonnes per year by mid-2030s.
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One person is killed and 40 injured when a tram derails in Milan's central area
A spokesperson for the local firefighters reported that a tram in central Milan derailed on Friday. One person died and 40 were injured, including one who was in a critical state. The tram, 'one of the latest models in operation in Milan', crashed into a window of a store in Vittorio Veneto Street, one of Milan's most important downtown arteries, according to Vittorio di Giacomo, the spokesperson. According to local emergency services, 13 ambulances are on the scene. According to an eyewitness, civil protection teams have set up a tent to help the injured. ATM, the Milanese transport company, released a statement in which it expressed "deep shock" at the accident. It also expressed sympathy to all those who were affected and said that it was working closely with the judicial authorities to try to determine what caused it. Reporting by Elvira Pollina, Daniele Mascolo and Kevin Liffey, with editing by Gianluca Smeraro, Gavin Jones and Kevin Liffey
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Sources say that Druzhba Pipeline carried Ukrainian and Russian oil prior to the attack.
Three industry sources said that the Druzhba Pipeline exported some Ukrainian oil, and much larger volumes of Russian crude before it was damaged by a Russian strike a month earlier. The strike 'has caused a halt to supply', they added. Since January 27, oil shipments from Russia to Hungary and Slovakia via the pipeline they operate have been suspended. Kyiv claims that Russia attacked pumping stations in western Ukraine. This sparked a dispute within the European Union and Hungary's efforts to block any new sanctions against Russia. It was not previously known that the Druzhba Pipeline is used to export Ukrainian Oil to EU member countries Hungary and Slovakia. Ukraine is denied the export revenue and funds it needs to control its budget deficit. If the suspension is maintained, it could force Kyiv's oil production to cease. The Ukrainian energy ministry didn't immediately respond to an inquiry for comment. Ukraine has been encrypting all information about oil exports and processing since the Russian invasion of four years ago. RUSSIA TARGETS UKRAINE’S OIL PRODUCTION Ukraine will produce about 1.7 millions tons of oil by 2021. It imported large volumes of oil that were processed at the Kremenchuk Refinery, which has a 19 million ton capacity per year. In February 2022, Russia started attacking Ukraine's refineries. One source said that the destruction of Ukraine's last refinery capacity by mid-2025 forced traders and fuel importers to increase their fuel imports. This created a dilemma about what to do with Ukraine’s oil production. Source: Ukraine had no refining capability at home, so it was forced to export its oil. Druzhba?was then the only option available. State Property Fund owns the section of pipeline network in Ukraine. It was not possible to determine the current level of production in Ukraine. Ukrainian media reported in 2024 that Ukraine's biggest oil company Ukrnafta would produce 1.4 million metric tons of oil, about the same amount as it did in 2023. According to a second source in the industry, Ukraine was injecting 40,000 metric tonnes of oil per month into the Druzhba Pipeline before Russia's strike. Other sources confirmed that there were exports, but they did not give any estimates of the volumes. The three sources requested anonymity due to the sensitive nature of the subject. According to a second source, Ukraine had been injecting crude oil in the pipeline in Brody in the west of Ukraine for several months before the Russian attack on January. MOL, a multinational Hungarian oil company, processes the oil delivered by pipeline. MOL buys a variety of oils, including Ukrainian oil, to diversify its supply. This includes Russian oil. He refused to provide more details. On Friday, the Hungarian and Slovakian governments did not immediately reply to comments. Hungary and Slovakia continue to rely on Russian oil despite other EU nations ceasing their use. They have also accused Ukraine of intentionally prolonging the outage. Hungary has also accused Ukraine of meddling with its elections in April, halted a 90 billion euro EU loan Kyiv depends on, and blocked a second round of European sanctions against Russia. A WORLD-LONG PIPELINE HAS LOST IMPORTANCE The southern branch of Druzhba was constructed in the 1960s, during the Soviet period. It is where the bulk of the oil that goes to Europe comes from. The name of the pipeline means friendship in English. Moscow has accused Kyiv that it is threatening Europe's security of energy by stopping the flow of Russian oil through the pipeline. Druzhba, one of the largest oil pipelines in the World, has lost its importance since the full-scale Russian invasion of Ukraine, and the subsequent European sanctions. ExPro, a Kyiv-based oil consulting firm, said that transit through the southern branch will reach a low of 9.7 millions tons in 2025. ExPro reported that Slovakia received 4.9 millions tons of oil while Hungary received 4.35 million tons. The Czech Republic stopped using Russian oil by April 2025. The northern leg, which was the main supply route for Poland, is only using a fraction of its capacity in order to transport Kazakh oil to Germany. Ukraine has been planning to use the Druzhba Pipeline to pump Caspian Oil to Europe for a long time. The Odesa-Brody oil pipeline, which connects Black Sea oil terminals to Druzhba in 2002, has carried very little oil since then. On Wednesday, Ukraine's president Volodymyr Zelenskiy stated that this section was also attacked by the war. Brussels has not taken sides in the Druzhba dispute, but has asked the Hungarian prime minister Viktor Orban respect the EU loan agreement for Ukraine. It also plans to submit on April 15 a legal proposal that would permanently ban Russian oil imports. Slovakia announced that the Druzhba Pipeline was out of service on February 13th, long after Russian oil shipments were stopped last month. Reporting by Daniel Flynn; Editing by Barbara Lewis and Daniel Flynn
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Gas supply in Nigeria is at 43%, reducing Nigeria's grid capability.
Grid manager revealed on Friday that Nigeria's gas-fired plants receive less than half of the fuel needed, resulting in a worsening of electricity supply across Africa's largest country. Operators claim that the shortage is due to a rising debt in the sector, resulting from government subsidies. This debt has reached 6 trillion naira (US$4.4 billion) for this month. Gas deliveries to power stations have fallen to less than half the required volume. The national generation is now down to 4,300 megawatts. This has forced the grid operator to reduce electricity supply, also known as load-shedding. They have also cut the allocations for power distributors in order to maintain the stability of the system. The Nigerian Independent System Operator, or NISO, said that thermal stations require around 1,630 millions standard cubic feet of?gas each day. However, actual supply on February 23 was just 692 mmscf, which is only 43% of the?required volume. The NISO stated that the shortfall had reduced the 'national output' and 'amount of electricity allocated to distribution companies. The company said that when the total system generation drops sharply, they must implement load-shedding and distribute available energy according to the regulated allocation percentages in order to maintain grid stability. The government approved last year a plan to refinance the 4 trillion naira electricity sector debt in order to stabilize the industry. The debt, owed to 27 power companies for unpaid invoices between 2015 and 2023, has discouraged investment and worsened the already severe outages. The government issued a first tranche of a bond worth 501 billion Nairas in January to?restore liquidity. Operators claim that the measure is insufficient, as total debt has risen to 6 trillion Naira. Tarife?reforms have also been affected by the deteriorating supply. Even those 15% of consumers with higher incomes who were recently charged higher tariffs for their increased consumption and ability to pay, are now experiencing erratic power supply. Many have even considered abandoning the grid.
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Maersk reroutes certain sailings around Africa because of 'unforeseen restrictions'?in the Red Sea
Maersk, a Danish shipping company, announced on Friday that it will temporarily reroute some of its sailings around Cape of Good Hope and away from the Suez Canal after encountering unexpected constraints in the Red Sea region. Last month, the container shipping group announced that some services would be gradually returned to the Suez route. This was seen as an important step in ending two years worth of global trade disruptions caused by Yemeni Houthi rebel attacks on ships in 'the Red Sea. Maersk said on Friday that it faced unforeseen challenges due to the operating environment in the Red Sea region. Maersk released a statement saying that after talking to its security partners it was clear these constraints were making it difficult to avoid delays in the passage of goods through this area. The company didn't elaborate on the reasons for the constraints. Maersk didn't immediately respond to a request for comment, when contacted via email and phone. Louise Rasmussen reported, Terje Solsvik edited and Louise Heavens wrote the article.
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Ukraine could form joint ventures to enhance its defenses against ballistic weapons with allies
Ukraine's defence minister has said that it is looking at forming consortia with its allies in order to "build air defences capable of" downing ballistic missiles, and address a critical shortage of munitions needed for Patriot systems made by the United States. Ukraine has been able to protect its skies from Russian missiles that fly faster than sound and can't be intercepted by Ukraine's air defence systems thanks to Patriot systems. Mykhailo Federorov, the Minister of Defence, said that stocks of Patriot System's PAC-3 PAC-3 missiles were "critically low". Fedorov told reporters this week that Ukraine has the potential to produce its own counter-ballistic missiles and systems. He added that air defences have been his primary focus since he assumed office in mid January. President Volodymyr Zelenskiy repeatedly criticised the delays made by Ukraine's allies to provide Patriot missiles and other air defences after?Russian invasion in 2022. He also said that several systems ran out of ammunition at one point during January. Fedorov claimed that he and Zelenskiy had discussed the possibility of creating joint air defense ventures. Could not tell if discussions had already been held with any allies, or which allies Kyiv was thinking of. "This is a complex project that requires time and dedication. The mathematics are complicated." Fedorov said that Ukraine had to develop its own capabilities. STARLINK CUT OFF Fedorov hailed a first success of his tenure in the last month, after 'Elon Musk’s?SpaceX' agreed to cut Russian forces off from thousands Starlink satellite internet terminals that were not approved by Kyiv. Since the cutoff, he said the number of Russian livestream connections has dropped by an elevenfold. He said, "We have effectively cut Russia off from connectivity." Terminals are resistant to electronic jamming and can be used to communicate on the battlefield or to pilot drones. Fedorov stated that intercepts of radio frequency, which are more susceptible to disruption, have increased after the cutoff.
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CME approves the first aluminum warehousing facility in Taiwan
After receiving a number of applications for new storage in Asia, which is the largest regional market for aluminium, U.S. commodities trade operator CME Group has approved the?first?storage facilities in Taiwan. CME announced in two separate notices that it had approved applications by warehousing company C. Steinweg, and Pacorini Global Services for the storage of aluminium delivered against Comex aluminium contracts at a port city located south of Taiwan called Kaohsiung. Reports stated that 'this month, the CME approved facilities in Taiwan, and another base metals warehouse location, Hong Kong. This was part of CME's efforts to gain more traction for its aluminium contract?in Asia. The London Metal Exchange already has warehouses in Hong Kong and Taiwan. CME Taiwan's total outdoor storage capacity for aluminum is 95,000 tons. This includes 50,000 tons, 20,000 tons and 25,000 tonnes for the two Steinweg sites and Pacorini facility. Tom Daly is reporting and David Goodman is editing.
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The record soybean harvest is slowed by the backlog of trucks at Brazil River port
The logistics of one of the main export hubs in the world for soybeans are being overwhelmed by a record harvest. Backlogs for soybeans being moved from the world's biggest producer and exporter highlight ongoing logistical challenges in Brazil's agriculture supply chain. A large portion of Brazil's soybean harvest is headed for China. It's a shame here in Miritituba," said trucker Jeferson Borges da Silva who, after driving 1,200km from Mato Grosso waited for a?30 km (20 mile) queue. "We have been waiting in line for 2 days, this was the worst year yet." Miritituba is a crucial transshipment point that handles 12 million metric tonnes of grains per year, including corn and soy. Cargill, Bunge and Brazil's Amaggi operate river terminals, where crops are loaded on barges to be transported downstream to larger facilities that can fill ocean-going ships. This time of year, traffic is usually heavy. PROTESTS COMPOUND EXPORT CHAOS Indigenous activists invaded a Cargill Transshipment Facility in?Santarem in protest this month against the government's policy to dredge the Amazon basin and expand the shipping capacity. The government rescinded a decree that allowed for such expansions of waterways on Monday, causing further uncertainty to agricultural exporters. Wellington Bressan, a trucker from Miritituba, said that the Indigenous protests could have contributed to the traffic jam in Miritituba because drivers were rushing to get unloading spaces. "Truckers are paid on commission. If they work, then they earn money. They didn't want to wait to come to Miritituba. Cargill temporarily halted its Santarem Terminal during the protests. On Thursday, it said that they are working to resume their activities. The company issued a statement thanking employees for their "resilience." It also reiterated that it was committed to transporting food in a "safe and reliable" manner. CONCERNS ABOUT INFRASTRUCTURE MOUNT Thiago Pera is a logistics expert from the University of Sao Paulo. He said that the revocation of the?government decree could slow down efforts to improve the logistical infrastructure along the northern export corridor. He warned of the medium- and long term impacts on Brazil's capacity to handle agricultural exports efficiently. Pera stated that the situation is getting more difficult. He added that dredging could be done to allow larger vessels to move year-round. This would ease pressure on trucks and lower freight costs. About 60% of Brazilian agricultural exports are transported by truck. Truckers such as Sonia?da? Silva expressed frustration at the outdated infrastructure of Miritituba terminals. "How will you fit 1,000 trucks into a yard with only 500 or 200 spaces?" She asked.
TSA officers receive fractional pay during the government shutdown
As the partial government shutdown continues, airport security screeners in the U.S. will receive a fraction their normal pay. This could lead to more officers calling in sick, taking second jobs or even quitting.
The funding for the U.S. Department of Homeland Security expired on February 13, after Congress failed in its efforts to reach an agreement on immigration enforcement reforms requested by Democrats. This halted the funding of several government agencies including the Transportation Security Administration.
The current shutdown is less severe than the 43-day event in October and November that shut down numerous government departments. TSA agents could lose even more money if the shutdown continues. This would have ripple effects, including absences, departures and bottlenecked lines in airport security.
Philip Glover, vice president of district 3 of the American Federation of Government Employees who represents TSA employees at 19 airports in Delaware and Pennsylvania, said: "People will get discouraged much quicker this time."
EXPECT MORE REGISTRATIONS
Local AFGE officials expect a rise in TSA resignations, while some TSA workers are still paying off debts from last year's?shutdown.
Ha Nguyen McNeill told Congress in this month's session that approximately 1,110 Transportation?security Officers (TSOs), a 25 percent increase over the same period in 2024, left the TSA between October and November 2025.
McNeill, speaking of the shutdown last year, said that officers were sleeping in their cars to save on gas and selling their blood plasma to get by. They also took on second jobs in order to survive. The TSA will be increasing staffing for spring break, World Cup, and summer travel in March, May, and April.
The TSA officer who requested anonymity at Harry Reid International Airport in Las Vegas said that the two shutdowns back to back are forcing her to reconsider her career with the agency. The 34-year old said, "I would like to stay in this job for the medical benefits at least. But sometimes I feel I'd be better off abandoning ship and reinvesting myself elsewhere."
Local AFGE officials said that workers are having to work odd jobs in order to pay their bills and fill up their gas tanks for the?second time within four months. The agency is putting more pressure on employees to be present, while some have called in sick to do odd jobs.
Darrell English, the president of AFGE Local 777 which represents TSA employees in Illinois and Wisconsin, said that officers are considering other options to maintain stability. "This is a 'backlash' that will come from these 'continuous shutdowns'." Neal Gosman is the treasurer for AFGE Local '899 in Minnesota. He said that many of his colleagues who had high levels of seniority retired shortly after the shutdown began.
He said, "It could be a coincidence that these older people have been in the area for a long time but they somehow decided to pull out the trigger this past week." (Reporting from Doyinsola Oladipo in New York, with additional reporting by David Shepardson at Washington)
(source: Reuters)