Latest News
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Delfin Midstream approves the first US floating LNG project
Delfin Midstream announced on Wednesday that it had made a final investment decision for the first floating liquefied natural gas (FLNG). This project is being developed in Louisiana, and offshore in Gulf of Mexico. Delfin FLNG 1, the first floating LNG facility in the U.S., is the largest FLNG Project globally. It will have an export capacity of approximately 4.4 million tonnes per year. The company is working diligently to secure FIDs over the next year for the FLNG vessels 2 and 3. A pipeline explosion near Holly Beach in Louisiana, which was expected to provide gas for the facility, delayed its construction by months. Eduard Ruijs told reporters in March that the Delfin project would have received financial approval earlier if it weren't for the explosion of the pipeline. The project has long-term LNG agreements with leading global energy companies such as?Vitol?, Expand Energy?,?Centrica? and Gunvor?. Curtis Williams reported from Houston, Sumit Saha from Bengaluru and Nathan Crooks edited the story.
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Air Canada's A321XLR delivery delays still cause system "friction"
Air Canada's COO stated on Wednesday that the carrier still experiences "friction" in the system due to delays in the deliveries of Airbus A321XLR single-aisle jets. The airline will begin flights with this longer-range aircraft?this month. Airbus and Boeing are working to increase production of new, fuel-efficient aircraft. However, airlines around the world face delays in delivering multiple models due to labor shortages, supply-chain issues, or other factors. Mark Nasr, Air Canada's Executive Vice President and Chief Operations Officer, stated in an interview that the XLR Program has been delayed by more than two years compared to what was originally?anticipated at the time of the order. Nasr spoke on the sidelines of a Montreal event to welcome the new model. Canada's largest airline plans to use XLR for routes such as Toulouse and Copenhagen. The demand for European travel is still strong, despite the rising costs of jet fuel due to the Middle East war. Air Canada has also seen a return of Canadians who flew to the United States as a leisure traveler, after this type of travel had slowed last year and earlier in 2020 due to trade tensions. Alexandre Lefevre is the VP of network planning and global sales at the carrier. Nasr said Air Canada uses its smaller A220 aircraft to service several markets in the United States. The company is waiting for Airbus' technical specifications on a stretched version of this aircraft. He said, "Once we have the final specs of the aircraft, we'll study them." He added that "one of the questions which we will?have to answer is the range?of the aircraft." This is why the technical specs are so important. "We need all the specs in order to properly study it," he said.
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Bolivia's new Defense Minister pledges to remove roadblocks while protests continue
Ernesto Justiniano, the newest defense minister in Bolivia's government, was appointed by President Rodrigo Paz Wednesday. He has promised to remove roadblocks after weeks of protests and social unrest that have blocked major city streets. Justiniano stated that the immediate goal is to "restore normalcy": roads that are passable, medical supplies, work and peace. The conflict began in May with a workers' strike that escalated into highway blockades, cutting off access to neighboring cities La Paz and El Alto which is?home to around 2 million people. Labor unions - and groups loyal to the former leftist President -Evo Morales – are calling on Paz's Government to reverse austerity measures and tackle rising living costs. Paz told reporters that he sent a bill to Congress authorizing joint operations between police and military to clear roads.
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Grid operator: US Midwest to witness record number of new plants in the next five years
A record number of mostly gas-fired plants is expected to be?connected to the?U.S. Midwest grid will be able to meet the region's increasing electricity demand over the next five-year period, according survey results released on Wednesday by the regional grid operator. The Midwest is experiencing a surge in power demand due to the growth of data centers and the electrifications of buildings and transport. According to a survey conducted by the Midwest Independent System Operator (MISO) and Organization of MISO States, the growth of?the middle America region's load is expected to be between 3.1% and 5% over the next five years. The survey found that utilities in the MISO network expect to add 15 gigawatts of new power generation capacity each year over the next five years. * "The results of the survey reflect the'scale of the challenges facing the region, and the progress made in addressing them," said Michael Carrigan. He is the President of the Organization of MISO States as well as a Commissioner at the Illinois Commerce Commission. Reporting by Laila KEARNEY in New York
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The US has told Europe and Canada to increase NATO air and Naval Forces
A top U.S. General said that the U.S. is expecting European NATO allies to increase their contribution to the alliance's defense plans in terms of the number of manned and non-manned aircraft, and ships. This comes as Washington steps back from these areas. U.S. Air Force general Alexus Grynkewich made the statement after the Trump administration decided to reduce the number of U.S. military assets available to NATO during a crisis. Donald Trump, the president of the United States, has repeatedly criticised NATO. He told European NATO members that they would?have to assume primary responsibility for conventional defence on the continent. Last month, the U.S. informed allies of its decision of reducing its?contribution under a framework called NATO Force Model. This includes a pool that can be activated in a crisis. It did not disclose any specifics. Grynkewich’s statement was released after a NATO military planners meeting on Wednesday. It was the first indication to the public of which areas the U.S. plans to cut first, and where they expect allies to step up. He said that Canada and European allies "can step up in these areas now and in the short term" as the United States reduces the forces they'source' from the NATO Force Model and redirects them elsewhere. Grynkewich stated in his written statement that there has been a unhealthy codependence between the NATO Force Model and U.S. Forces. "President Donald Trump, Secretary of Defense Pete Hegseth, and others have made it clear that the NATO Force Model needs to be changed, and will change. It is necessary because of the potential for simultaneous conflict across multiple theaters. NATO DOES NOT EXPECT CHANGES THAT LEAD TO DEFENCE GAPS NATO is facing unprecedented pressure, and some European countries are worried that Washington could withdraw completely. The U.S.'s decision to reduce the number of forces available during wartime would only increase these concerns. U.S. Army Col. Martin O'Donnell is a spokesperson for NATO's Military Headquarters. He said that the areas mentioned by Grynkewich are "where allies have or will soon have sufficient capabilities". This means there should be no gaps in defence. He added that "Nations only need to assign to NATO the capabilities they have." O'Donnell refused to provide any details on the date Grynkewich expects allied nations to replace U.S. capabilities. According to an article published last week in the German newspaper Spiegel, the number of U.S. combat jets that are available to NATO will drop by a third. The U.S. also plans to make less destroyers, as well as no U.S. subs, available for the crisis pool. The report also stated that Europe would be required to supply its own drones for reconnaissance, and the U.S. planned to drastically reduce the number of armed models. Reporting by Sabine Siebold, editing by Bart Meijer & Paul Simao
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Lebanon audits MEA Safety as Pilot Groups Voice Conflict Concerns
Lebanon's aviation regulator?performed a safety audit on Middle East Airlines after pilot groups expressed concerns that crews are being asked to fly near airstrikes, and penalized for reporting safety incidents. Letters seen by show. The audit focuses on the Beirut-based flag airline MEA which has kept Lebanon in touch through war, financial collapse and even when many foreign airlines have avoided Middle East airspace due to'missile and drone risk' since the Iran War began on February 28, In a statement released?on? Wednesday, the MEA stated that it would continue to fly "after obtaining international guarantees" that the airport will remain outside of the conflict zone. MEA's fleet of 20 planes, which operates in the Middle East and Europe, as well as West Africa, was praised by Lebanese authorities for its continued flights and contribution to an economy more and more dependent on tourism and remittances. The audit that took place over the past two weeks is "an annual process that has been planned for years and does not relate to the letter mentioned above", it said, adding that MEA hadn't had an accident in 60 years. MEA had earlier stated that it has an excellent safety record and that all flights conducted during hostilities are based on risk assessment developed with the Lebanese Civil Aviation Authority and Lebanon's Government. Multiple Israeli airstrikes landing near Lebanon's sole commercial airport since 2024 has raised concerns for the International Federation of Air Line Pilots' Associations. (IFALPA), a federation of global pilot unions. This is due to the history of civilian planes being shot down in or near conflict zones. Israeli strikes against Lebanon have increased this year as the conflict between Iran-backed Hezbollah and Israel has intensified. While some people may consider flying civilian aircraft with passengers through high-risk conflict zones in wartime heroic, we find this to be an unconscionable risk," IFALPA president Ron Hay wrote on May 12 in a letter to Lebanon's Central Bank, which owns a majority stake in MEA. The Banque du Liban referred questions to MEA. The airline said that the sons of MEA's chairman and LCAA's chairman were both MEA captains and had flown throughout the period. REGULATOR CONDUCTS MEA SECURITY AUDIT Mohammed Aziz (LCAA's head and air crash investigator) told IFALPA, in a letter dated May 15, that his team was going to conduct an aviation audit of MEA. They would also "engage in a dialog?with MEA in order to discuss your concerns stated in your letter." MEA stated that the LCAA's oversight activity on MEA between May 18 and June 1 confirmed compliance by the carrier with "regulatory requirements" as well as operational safety. Aziz said that a meeting was held with MEA on Monday but that the LCAA was still in process. "We were in the middle of mediating between the pilots" and MEA. MEA released a statement on Wednesday saying that the audit results "refuted", but did not provide any further details. MEA pilots said that they had financial incentives to fly because per-flight payments constituted a large part of their salaries. However, these have been cut due to the economic collapse in Lebanon that began in 2019. IFALPA and other aviator organizations flagged cases in which pilots who reported unintentional mistakes to improve safety were punished by being sent to "training", which meant they lost out on their per-flight payment. Hay told me by phone that "we know for sure" that pilots had spoken up, and actions were taken against them. MEA stated that IFALPA’s allegations were unfounded, and training assignments were in accordance with regulatory requirements. MEA stated in a public statement that, of the 32,000 flight it has operated since 2025's beginning, four of them had to be reviewed and five pilots sent on additional training flights. The MEA said that no training flights of this kind were conducted in 2026. Pilots Contact Partner Airlines in the U.S. and Europe The safety concerns led pilot groups contact SkyTeam, an airline alliance that includes MEA, Air France, Delta Air Lines, and other carriers. Dara van Langen, the chair of the SkyTeam Pilots Association said in an interview that if you are putting your passengers on a plane operated by a partner airline, you will want to make sure it is safe. The U.S. Federal Aviation Administration and the European Union Aviation Safety Agency both require that airlines within their jurisdiction audit codeshare partners from other countries to ensure similar safety. Air France, who has a codeshare deal with MEA, says it audits its codeshare partners regularly. SkyTeam, Delta and other interline carriers with less comprehensive agreements said that they were aware of the pilots' concerns and were closely monitoring the situation. MEA PAYS WORKERS IN CIVIL AVIATION IFALPA also expressed concern that MEA paid LCAA employees overseeing aviation safety. A spreadsheet containing financial assistance received by LCAA for the month of November was reviewed. It showed that MEA paid dozens of LCAA workers, including three 'aviation safety workers. If your airline pays (in part) for the oversight of its airline, then you don't have to say anything. Hay, IFALPA spokesperson said. MEA stated that it provided financial assistance in coordination with government to ensure Lebanon’s aviation infrastructure was functional after the collapse of its currency. It said that the pay of air traffic controllers was reduced by over 90%, to less than $100 per month. The carrier claimed that its support of the LCAA did not impact the "independence or authority" of the agency, and Aziz and other leaders were not paid. (Reporting from Allison Lampert, Montreal; Additional reporting provided by Maya Gebeily, Beirut; Editing done by Jamie Freed and Alexander Smith).
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Sources say that Druzhba oil exported to Hungary and Slovakia returned to normal levels in the month of May
Three industry sources said that in May, Russia's oil exports via the Druzhba pipeline to Hungary and Slovakia were restored to normal levels at 165,000?barrels?per day. After a long outage, Slovakia and Hungary began receiving crude oil through the pipeline on April 23, following a month-long interruption. The first month following the resumption of the oil route is May. Sources said that Hungary and Slovakia only received 55,000 bpd during April when the route was operational for just a week. Although the flow of oil through the pipeline is now "unrestricted", May deliveries were lower than the levels seen before the suspension (200, 000 to 235,000 bpd), as states took measures to diversify their imported products. Hungarian oil firm MOL, which has?refineries both in Hungary and Slovakia, said it had purchased 10 different types of crude this year, in line with its diversified acquisition strategy, which it intends to continue. It said that "both the eastern crude oil pipeline and the southern crude oil pipeline are currently operating without interruption, and we are looking at additional pipeline connections in the future, including the possibility of using a route through Odessa." Ukraine blamed a Russian airstrike for the damage that caused the Druzhba Pipeline to be halted. Ukraine completed repairs on?the pipeline? in April. Russia supplies oil to Hungary via Druzhba’s southern leg, under an exemption from the EU sanctions imposed over Moscow’s war in Ukraine. Since?May, Kazakhstan's oil has been transiting via the northern Druzhba to Germany due to a lack of?technical capabilities?, according to Russia. Ukraine's drones have repeatedly attacked the Russian?Transneft network this year, as Kyiv intensifies its attacks on Moscow's energy grid.
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Portugal General Strike over Labour Reform halts Trains, Flights, and Shuts Schools
On Wednesday, the second 'general strike' in six months caused a disruption of services across Portugal. Trains were stopped, hundreds of flights cancelled, and schools closed as unions protested government labour reform plans. Portugal's centre-right minority government will likely pass a bill, with the support of the extreme-right Chega Party, proposing changes to more than 100 articles in the labour code. The aim is to "boost productivity" and "spur growth", after talks with the unions failed. Tiago Oliveira is the head of Portugal’s largest umbrella federation CGTP. He called for the general strike. According to him, the reform will worsen the conditions of workers by enforcing precarious employment and reducing parental and strike protections. Rodrigo Azevedo is a 30-year old bank employee. He said that the reform would force young workers to be "stuck" on precarious contracts throughout their lives, forcing them to work up to 50 hours per week without any extra pay, instead of 'the standard 40-hours'. It will also make it easier to replace them with outsourced labour who are cheaper. He said that the labor package was a threat to not only the future of our young workers but also to us. Lisbon's Metro shut down. The state-owned railway CP has suspended all long-distance and regional trains. Staff shortages caused schools to close across the country, and hospitals delayed most appointments and surgeries following a nurses' walkout. TAP, the Portuguese flag carrier, said that it would only operate 79 flights out of 300+ daily flights. Iberia expects a reduction of between 50% and 75%. The Labour Minister Maria do Rosario Ramalho stated that the participation of private sector workers, who are outnumbered by public sector employees five to one and to whom this reform is directed, was marginal. She told reporters that "the vast majority of workers continue to work and the economy is not stagnant." The reform aims to make it easier for companies to dismiss workers without cause, deny them a re-employment in the event of an illegal dismissal, provided they pay compensation and lift limits on outsourcing. The first shutdown of the year was a strike that took place in December, following protests against austerity measures in 2013. Reporting by Sergio Goncalves, Miguel Pereira and Charlie Devereux; editing by Sharon Singleton, Ros Russell and Charlie Devereux
Sources say that Oman's Asyad is planning to flotation Asyad Shipping and has hired advisers.
Sources familiar with the matter say that Oman's state owned logistics firm Asyad Group plans to launch an Initial Public Offering (IPO) for its subsidiary Asyad Shipping Co before the end of this year. Jefferies Group has been selected as the adviser, and EFG Hermes is the financial advisor.
When contacted on Thursday by about the IPO, Asyad Group declined to comment. The size of the offering was not immediately known.
Asyad Shipping is a company that specializes in transporting LNG to international markets. Its fleet includes large crude carriers, chemical and product tankers and bulk carriers.
The company counts Vale, a Brazilian miner, and the energy companies BP and Shell as its clients and partners.
Asyad Group is owned by Oman’s wealth fund and has assets worth more than $4 billion. It focuses on shipping, logistics, port services, transportation, and free zones.
Oman Investment Authority didn't immediately respond to our request for comment.
Oman, a non-OPEC small producer, follows its neighbours, the United Arab Emirates, and Saudi Arabia, in pushing for state-led listings in a bid advance privatisation strategies.
This strategy, combined with a wide range of reforms, including fiscal discipline, helped Oman to pay down its debt and turn the large fiscal deficit it had in recent years into an surplus since 2022.
Sultan Haitham Bin Tariq al-Said is driving reforms in the state and restructuring the entities. He took over the throne at the beginning of 2020, after Sultan Qaboos died, having ruled the country for almost five decades.
Moody's, a ratings agency, raised Oman's rating in December from Ba2 (below investment grade) to Ba1, a level below that. This was due to an improvement in metrics for debt affordability.
Oman is pushing to be upgraded to an emerging market from a frontier market, which will put it on global asset managers' radars and attract foreign investment via passive funds.
MSCI, the index provider, has classified Oman and Bahrain as emerging markets.
In 2021, it was reported that Asyad weighed the sale of its strategic stake in Oman Shipping. This subsidiary was rebranded into Asyad Shipping by 2022.
Asyad asked banks to bid for a review mandate of a possible deal where Asyad would be able to divest up 40% of its ownership. Reporting by Hadeel al Sayegh in Dubai and Federico Maccioni, with additional reporting by Emma Victoria Farr in Frankfurt. Editing by Anousha Saoui and Alexander Smith.
(source: Reuters)