Transportation

Officials have confirmed that when U.S. president Donald Trump hosts the leaders of Armenia, Azerbaijan and Georgia at the White House this Friday, it will culminate with the signing of an agreement for peace, which includes exclusive U.S. rights of development to a strategic corridor running through the South Caucasus. Since the late 1980s, Armenia and Azerbaijan are at odds. This is because Nagorno Karabakh - a region of Azerbaijan that was populated primarily by ethnic Armenians - separated from Azerbaijan. Both Armenia and Azerbaijan gained independence from the Soviet Union by 1991. Peace could be achieved in the South...

Canadian Natural Resources, which has benefited from increased oil and gas production, surpassed Wall Street's expectations for the second quarter profit on Thursday. The Trans Mountain Pipeline Expansion (TMX) has been a boon to oil producers across the country. The TMX has tripled oil flow to Canada's Pacific Coast, from landlocked Alberta. It also raised the price of Canadian crude. Canadian Natural, based in Calgary, Alberta, said that its total production rose to 1,42 million barrels equivalent per day (boepd), from 1.29 millions boepd, a year ago. According to LSEG, the country's biggest oil and gas company posted an adjusted...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. - Activist investor Starboard Value has a more than 9% stake in Rogers Corp and plans to seek another round of changes at the engineering-materials maker to boost shares. Disney's ESPN, TKO Group and World Wrestling Entertainment reached an agreement worth more than $1.6 Billion that gives the sports-media firm exclusive rights to WWE's highest-profile events. Apple and other electronics companies worried about trade issues will be happy to hear that U.S. president Donald Trump has announced...

Siemens Energy said that it expects to achieve the upper limit of its outlook for 2025, driven by the wind turbine division, and the strong demand in the United States of its power equipment, which helped it to overcome the impact of the import tariffs. The company reported better-than-expected orders and profits for the third quarter. It said that it now tends towards the upper-end of its outlook. This predicts sales growth between 13-15%, and a profit before special items margin of 4-6%. According to a LSEG survey, Siemens Energy expects its full-year sales to increase by 12.7%. The company...

ONEOK, a U.S.-based pipeline operator, reported a higher profit for the second quarter on Monday. This was boosted by acquisitions. The company increased its presence in Permian basin by acquiring a 43% control interest in Enlink Midstream in late last year for approximately $3.3 billion. ONEOK acquired the remaining shares of EnLink Midstream that were publicly held on 31 January 2025. A year ago, the company's adjusted core profit for natural gas gathering and converting segment was $540 million. This is largely due to the acquisition. ONEOK has expanded its portfolio by acquiring other companies, including Medallion Midstream as well...

Williams Companies, a U.S.-based pipeline operator, reported an increase in its second-quarter profits on Monday. It benefited from increased service revenues and gains related to expansion amid a recovery in natural gas prices. The U.S. Natural Gas prices have recovered from multi-year lows. This is due to record flows of LNG exports and increasing electricity consumption. Williams's results were boosted both by the higher fees for fuels transported through its pipelines and revenues from expansions projects and acquisitions. The company operates and owns more than 32,000 miles in pipeline infrastructure. After a U.S. Court revoked the original approval in 2023,...

Google announced on Monday that it had signed agreements with two U.S. utilities to reduce the power consumed by its AI data centers during periods of high demand on the grid. AI is a power-intensive technology, and power supply cannot keep up. The country's utilities have been inundated by requests for electricity to power Big Tech's AI-based data centers. In some areas, the demand has exceeded total available supply. This power crunch has raised concerns over soaring bills and blackouts for homes and businesses. The technology industry has also been hampered in its expansion of AI. This requires huge amounts...

Four Democratic U.S. Senators, on Friday, criticized the directive issued by Interior Secretary Doug Burgum last month requiring his office review all decisions made on wind and solar projects on federal land. They said it would lead to delays and discourage investment at a time when power demand is increasing. The lawmakers claimed that the directive would create a bottleneck, and thereby halt progress in wind and solar power, which made up the majority of the new U.S. electricity added to the grid during the past year. The letter from Senators Martin Heinrich and Ron Wyden to Burgum stated that...

Enbridge, the Canadian pipeline operator, said that its recent commercial process for gauging oil shippers’ interest in an extension of its Flanagan South pipe was oversubscribed. This indicates a strong demand from oil shippers to increase their capacity to transport oil between Canada and the U.S. Gulf Coast. On a recent conference call, Enbridge CEO Greg Ebel stated that the success of the Flanagan-South open season -- a term used by the industry to describe the process that pipeline companies use to inform shippers about available capacity and to solicit bids -- has brought Enbridge closer towards formally sanctioning the...

Grid operators in the U.S. are reworking their forecasting techniques, reforming power markets, and streamlining the interconnection process to connect more energy into the grid. This is due to a combination of extreme weather conditions and the growth of data centers, which has increased power demand. Federal regulators warned earlier this year that the summer 2025 power consumption will be higher than in the previous four summers due to high temperatures and the expansion power-hungry power centers. In recent weeks, heat waves have already put strain on the nation's power grid. "Extreme weather is becoming more frequent, and we're adjusting...

Sources said that eight OPEC+ member countries will likely approve a new oil production hike on Sunday. The group is still debating how much to increase output in September, amid fears about further disruptions of supply from Russia, and a seasonal decline in demand. In recent months, the group has increased output due to low global stock levels and increasing demand. The Sunday meeting, which is scheduled to start at 11:00 GMT, coincides with new U.S. requests that India stop buying Russian crude oil, as Washington looks for ways to pressure Moscow to reach a peace agreement with Ukraine. New...

Global freight forwarder C.H. Robinson, a global freight forwarder, reported a second-quarter profit that was above Wall Street expectations on Wednesday. Cost-cutting measures including job cuts helped offset the impact of declining revenue in its ocean and truckload shipping businesses. According to LSEG data, the Minnesota-based firm reported an adjusted profit of $1.29 for the quarter ending June 30 compared to analysts' average estimates of $1.16. Total direct expenses decreased 9.2% during the quarter due to cost-saving measures and the divestiture from its European Surface Transport business. The number of employees at the company decreased by 1,616 or 11.2% on...

Iraq's Oil Minister, Hayan Abdel Ghani, announced on Wednesday that after a 2-year hiatus oil exports will resume through Turkey's Ceyhan Pipeline later on Thursday or Wednesday, according to Iraqi State News Agency INA. Abdel-Ghani stated that an agreement was concluded with the Kurdistan Regional Government regarding the resumed crude oil exports through Turkey's Ceyhan Pipeline. He told INA that "80,000 barrels of oil per day would be exported through SOMO, the Iraqi state-owned oil marketing company," referring to Turkey's Ceyhan Pipeline. Kirkuk-Ceyhan Pipeline has been off-line since 2023 after arbitration court ruled Turkey must pay $1.5 billion damages for...

Azerbaijan plans to export 1.2 billion cubic meters (bcm), or 1.2 billion cubic feet, of gas per year through Turkey from the BP operated Shah Deniz field in the Azeri-Caspian Sea. A senior official with the Azeri energy company SOCAR said this on Saturday. Turkey has been a key ally of the Syrian government since the end of the civil war in December, which ended after 13 years of fighting in Syria. Ankara has now positioned itself as a major player on the international stage. Syria's reconstruction Elshad Nasirov, SOCAR vice president, spoke at a ceremony held in the southern...

According to court documents and a spokesperson for the company, trading house BB energy has filed a lawsuit against South Sudan over its failure to deliver oil owed as part of a prepayment agreement. South Sudan, one of the world's poorest nations, has been through two civil wars over the last 15 years. It is also struggling with a fragile peace agreement and increased debt. In March, South Sudan's government put its petroleum minister and other officials under house arrest. Court records show that BB Energy DMCC brought the case in last month. The company spokesperson said the case was...

Egypt's deficit in its current account decreased to $13.2 billion from $17.1 billion a year ago, according to the central bank of Egypt. The bank attributed a slimmer deficit to a 86.6% rise in remittances sent by Egyptians who work abroad as well as an increase in the services surplus as reflected in 23% more tourism revenue. Oil exports fell by $430.5 millions to $4.2 billion from $4.6 billion a year ago, while oil imports grew by $4.8 billion from $9.7 to $14.5 billion. Egypt is seeking to import additional fuel oil and natural gas liquefied this year in order...

A senior Turkish official said on Monday that Turkey is willing to negotiate with Iraq a new deal to restart operations of an oil pipeline that was halted between the two nations during a dispute about unauthorised Iraqi imports. The Turkish Official Gazette published a decision on Monday that the deal, which dates back to the 1970s and is called the Turkey-Iraq Crude Oil Pipeline Agreement, as well as all protocols or memorandums after it will be terminated by July 27, 2026. Iraq and Turkey are working together to restart oil flow from the pipeline that runs to Turkey's Ceyhan...

The Investigative Committee of Russia announced on Friday that 135 Russians were sentenced to long prison terms in connection with an anti-Israel mass protest held in October 2023 in the predominantly Muslim Dagestan Region. In the North Caucasus, hundreds of anti-Israel demonstrators stormed the airport of Makhachkala where a plane just arrived from Tel Aviv. The unrest was caused by Israel's conflict with the Palestinian militant group Hamas. Investigators have said that they have collected evidence against 142 individuals and finished investigations into the involvement of 139. Investigators have put the three others on Russia's most wanted list. They are...

Sources close to the issue said that, despite Iraq’s federal government stating on Thursday that oil shipments would be resumed immediately, there is no imminent restart. Baghdad has been in talks with Erbil since February to resolve a standoff that has stopped oil flows from the northern part of Iraq to Turkey's Mediterranean Port of Ceyhan. Before the pipeline's closure in March 2023, the KRG produced about 435,000 barrels of oil per day. The federal government announced on Thursday that Iraqi Kurdistan will resume oil exports through the pipeline into Turkey immediately despite drone strikes that have closed down half...

Iraqi Kurdistan's oil exports will resume through a pipeline in Turkey following a two-year stop, the Iraqi federal government announced on Thursday. This was despite drone attacks which have resulted in a shutdown of half of region's production for a fourth consecutive day. Baghdad, Erbil and the semi-autonomous region have been in talks since late February about ending a standoff that had stopped the flow of goods from the north to Turkey's Mediterranean Port of Ceyhan. Baghdad announced that the Kurdistan Regional Government will begin immediately supplying at least 230,000 barrels of oil per day to the state oil marketer...

Their governments reported that the leaders of Armenian and Azerbaijan had substantive talks on Thursday in Abu Dhabi, which amounted to their most serious direct discussions yet in an effort to end nearly four decades of conflict. In March, the two sides announced that they had reached an agreement on a draft of a peace accord. However, progress has been slow and sporadic since then. The first official meeting between the Azerbaijani president Ilham Aliyev and Armenian prime minister Nikol Pashinyan in the capital city of the United Arab Emirates was the first since the leaders approved the draft. The...

Air taxis could soon be available for Dubai commuters to avoid traffic. Joby Aviation has conducted its first test flight in the emirate of its fully electric air taxi this week. This is a significant milestone in the efforts by the city to integrate airborne transportation into existing mobility networks, as early as next. Joby is hoping that its air-taxis can ease the pressure on Dubai's existing ground transportation system and provide travelers with a faster alternative, as Dubai continues to experience increasing congestion. Anthony Khoury said, "We want people to commute differently." The company estimates that a journey from...

Careem, Uber’s ride-hailing division in the Middle East will suspend its Pakistani service on 18 July, citing economic issues, increasing competition, and capital restrictions. This marks an end to its core business, which was pioneered in Pakistan nearly a decade earlier. This move highlights the strains on Pakistan's digital industry as tech firms cut back due to high inflation, weak demand from consumers, and tighter capital flows. Careem's nearly 10-year run is over. The app was launched in 2015, and quickly became the dominant player in mobile apps. In a LinkedIn posting on Wednesday, Mudassir Shaikha, Careem's co-founder, CEO, and...

Israel started flying citizens home stranded overseas on Wednesday. The country launched a phased airlift after its surprise military strike against Iran left tens and thousands of Israelis stranded overseas. El Al, the national airline, brought passengers back to Ben Gurion Airport in the early morning hours of Wednesday. The flight was operated by El Al and flew from Larnaca Airport, Cyprus. Israel's Transport Ministry estimates that over 50,000 Israelis have been stranded abroad and are attempting to return home. El Al announced that repatriation flights have already been scheduled to Athens Rome Milan and Paris. Arkia, Israir and other...