Latest News
-
US air traffic control system failing Americans, airline CEOs say
On Wednesday, major airline CEOs called on Congress for billions of dollars to fund the modernization of the United States' outdated air traffic control system. They said it was "failing Americans." Air traffic control problems at the Federal Aviation Administration have been brewing for years. A series of high-profile accidents, near misses and the deadly crash of an aircraft in January have all contributed to this. American Airlines regional jet Public alarm prompted new calls to action In a letter sent together, airline executives pointed to recent failures at Newark Airport. They also said that the FAA’s technology was "wildly outdated." The letter cited a 2023 review by an independent group that raised safety issues. Executives called for immediate action, as the busy summer travel period begins this weekend with Memorial Day. The FAA predicted on Tuesday a record number Memorial Day holiday flights, despite temporary flight reductions at Newark because of runway construction issues, technology problems and persistent staffing shortages in air traffic control. The letter was signed and dated by senior executives from FedEx, UPS, and United Airlines as well as the heads of American Airlines, Delta Air Lines and JetBlue Airways. This month, airlines and others called for at least $11 billion to be spent on air traffic reform. The U.S. House of Representatives is examining legislation that would allocate an initial $12.5 Billion for air traffic reform efforts. Sean Duffy, the U.S. Transportation secretary, wants to spend billions on replacing outdated radar systems and telecommunications equipment as well as air traffic towers and other air traffic facilities. The FAA is seeking funding to upgrade radios and network connections, replace 618 radars and install anti-collision technology on 200 airports. It also wants to build six new air-traffic control centers, and expand the ADS-B system of real-time information about aircraft traffic. The FAA has about 3,500 fewer air traffic controllers than the targeted levels. (Reporting and editing by Louise Heavens, Joe Bavier, and David Shepardson)
-
Deutsche ReGas gets EU funding for Lubmin hydrogen project
Deutsche ReGas announced on Wednesday that it would receive public grants worth 112 million euro ($126.97m) from the European Union Hydrogen Bank to fund a renewable hydrogen development project in Lubmin, Germany on the Baltic Sea coast. The grant is part of EU funding schemes that promote electrolysis processes using carbon-free electric to jump-start local economies producing hydrogen as an alternate to fossil fuels. ReGas has said that the production of hydrogen at Lubmin can reduce carbon dioxide by 1.6 million tons. The funding for this project will be spread out over a period of 10 years. The EU subsidy is intended to close the price gap between the green hydrogen production costs and conventional electricity prices. ReGas announced that the funding was awarded at a 992-million euro auction. This was the second one for the Hydrogen bank, and 15 projects from 5 countries received money. ReGas, a private energy infrastructure developer and operator, includes floating storage and regasification unit and hydrogen electrolysers. The Lubmin plant is located near the location where ReGas imported liquefied gas from a floating terminal after the energy crisis of 2022. It aims to use offshore wind energy as well as Baltic Sea water for the electrolysis process that will produce hydrogen. The new core hydrogen transport network is set to begin between 2025-2032. ReGas is moving its LNG operations from Lubmin in order to build an LNG landing facility at the nearby German Port area of Mukran, on Ruegen Island. Ingo Wagner, managing director, said: "From the beginning, we wanted to ensure energy supply while also advancing the energy transition." ReGas attached a document from the EU that stated grant agreements for the selected hydrogen projects by the EU during the auction round should be signed in September/October.
-
Pre-tariff US traffic boosts revenue from the Ferrovial Highway
Ferrovial, a motorway and airports company, reported a first-quarter surprise revenue boost from freight traffic on US toll roads and Canadian toll roads, likely related to imports anticipating sweeping U.S. Tariffs, according to its CFO. The Spanish company's surge in revenue despite the adverse winter weather is part of a larger trend of increased commercial activities at U.S. roads and ports that predated U.S. president Donald Trump's announcement on April 1, 2017 of new tariffs. Many of these remain suspended. Ferrovial reported last week that its first-quarter revenues from its North American toll roads business rose by 14%. This shows growth in a region where the company plans to focus its investments over the next few years. Ernesto Lopez, Chief Financial Officer Ernesto Lopez said late on Tuesday that "we were the first ones to be surprised (that) the results were even better than we expected." Lopez added that the public data showed traffic on toll road levels to be higher than last year. Ferrovial is a Canadian company that operates toll roads and highways in the United States. Ferrovial also plans to bid on between four and six motorway construction projects located in California, Tennessee and North Carolina. Lopez said that the increase in commercial traffic could be due to a greater volume of goods entering Texas from the Mexican border. North Carolina traffic was also boosted by more companies sending their employees back to work. According to the U.S. Commerce Department Census Bureau, the U.S. Trade Deficit in Goods widened in March to a new record high as businesses increased efforts to bring merchandise in and to pre-empt the impact of tariffs. Imports to the U.S. reached a record $342.7 billion in March, mainly due to consumer goods and automobiles. (Reporting and editing by Andrei Khalip, David Goodman, and Corina Pons)
-
Maguire: World solar power set to surpass nuclear generation for the first ever
This summer, the global electricity generated by solar farms will surpass the output of nuclear reactors. This is a significant milestone in the continued growth of solar energy within the global energy system. Solar farms generate electricity only during daylight hours, so their annual output is far behind that of wind, nuclear, and hydroelectric systems. Solar farms have started to exceed global wind production during the summer of last year in the northern hemisphere. Solar farms are now set to briefly eclipse global hydroelectric systems during peak solar production. CAPACITY SURGE Solar systems are relatively inexpensive and can be connected quickly, which is why utilities have added twice as much capacity as other sources of power to their generation networks over the last decade. According to Ember, the energy think-tank, by 2024 there will be 1,866 gigawatts of utility-scale solar power generation embedded in global electrical systems. This was the biggest capacity increase of all major power sources in that time period. Wind power has seen the second largest increase in capacity, by a factor 3.2. All other sources of generation have seen a capacity less than doubled. Solar power's capacity in terms of total was third among the major sources of power generation by 2024. It was behind coal's 2,174 gigawatts (GW) and natural gas's 2,055 gigawatts, but above the 1,283 gigawatts of hydroelectric and 1,132 GW wind power. OUTPUT AFFECT Since the beginning of this decade, peak solar electricity production has reached new heights every year due to the steadily increasing solar capacity footprint. Ember data show that utility-scale solar power generation has increased by 25% per year on average since 2020. Solar generation in the first three month of 2025 was 34% higher than in the same period of 2024. This was due to the widespread increase in generating capacities in many key regions. If the monthly solar production continues to be around 30% higher than in 2024's same month, then global solar electricity output will exceed 260 Terawatt Hours (TWh), per month, during June, July, and August this year. These output totals are likely to be far greater than the output of the nuclear reactor fleet in the world, which has a peak monthly production of 252 TWh and an average monthly output 223 TWh by 2024. As daylight hours begin to decrease in the northern Hemisphere, home to three quarters of all solar farms on the planet, solar generation is expected to fall below 250 TWh by September. Solar farms will supply more electricity than nuclear reactors in the world for the first ever during the summer of 2015. This is a new benchmark for the solar industry. UTILITY SCALE Utility operators face both challenges and opportunities as a result of the constant growth in solar energy supplies. Solar farms are intermittent and can produce more power than is needed at peak times, but then stop production completely during the night. This means that real-time balancing of systems with other sources of energy is necessary. The rapid growth of solar power in national grids also forces utilities to upgrade their grids so that they can better handle fluctuations in renewable energy and optimize the overall flow of electricity over time. A growing number of utilities are also deploying batteries to store excess solar power during times when it's not needed, then dispatching that power at peak electricity demand. The "solar plus battery" model allows utilities to limit the use of fossil-fuels in their generation mix, which in turn can save money when gas and coal prices increase and reduce emissions. When solar farms reach new output records this summer, utilities will be able reduce nuclear production at peak times, then increase it again when the solar output drops during the night. It could help utilities reduce their reliance on fossil-fuels, while maximising clean energy generation. This would also set the stage for future growth in solar power generation and usage. These are the opinions of the columnist, an author for.
-
WGC - Despite challenges, major LNG suppliers push new projects to feed the global demand for power
The producers are pushing forward with their liquefied gas projects. They are banking on the urbanisation of the world and its technology sector, which will drive global demand for power and overcome such challenges as oversupply and rising costs. The LNG fuel is seen by many as a transitional fuel to zero emissions. Energy security is also a priority for governments around the world after Russia's invasion in Ukraine caused gas prices to reach record highs. Tengku Taufik of Malaysian energy company Petronas said at the World Gas Conference that Asia-Pacific economies were "ravenously hungry" for LNG. The proliferation of data centers supporting artificial intelligence (AI), he said, was also driving the demand. The need for reliable baseload energy from conventional sources has also been highlighted by power grid outages. You think that customers will have to wait for a week before they can get electricity? "No way." "They want 24/7 electricity," said Patrick Pouyanne CEO of French giant TotalEnergies. "Even if we build beautiful renewables systems... we need gas-fired plants." Woodside predicts that the demand for LNG will increase by 50% by 2030. Shell anticipates an additional 60% to reach 630-718 millions metric tons per year by 2040. LNG Canada, Corpus Christi LNG Phase 3 and Plaquemines LNG will be the main suppliers of new LNG this year to meet this growing demand. LNG Canada is expected to ship its initial cargo in June. TotalEnergies is pursuing new LNG project in Australia, Woodside Energy of Mexico Pacific LNG, Commonwealth LNG, and Australia's Woodside Energy. TotalEnergies hopes to lift force majeure for its $20 billion Mozambique Gas project by mid-summer and resume construction, Pouyanne stated. The project was stopped in 2021 after an insurgency led primarily by militants linked to the Islamic State swept through the region. RISE IN COSTS Concern over rising costs has dampened producers' optimism about the prospects of the market. TotalEnergies is, for instance, looking to reduce capital expenditure on its Papua New Guinea Project by 20 to 25 percent and expects to make a final investment decision in this year. Woodside Energy is also looking to sell another stake in its Louisiana LNG project. Industry executives warned that the wave projects could lead an oversupply which could lower prices. Ma Yongsheng of Sinopec Corp in China estimated that the new global liquefaction capability would be 420 million tonnes by 2030 – more than twice as much as expected growth in LNG imports worldwide. Andrew Walker, vice-president for LNG strategy at Cheniere Energy, also expects new supply to increase by a third by 2030 to 600 million tones. In order to ensure that LNG demand continues, it is important that LNG prices are competitive, particularly in markets with high price sensitivity, like South and Southeast Asia which heavily depend on coal power generation. "We want to make the price affordable." We don't think southwest Asia should switch to coal because the asset will be there for at least 40-60 years. Jack Fusco, CEO of Cheniere, said that it was not good for both the company and for the entire world. (Reporting and writing by Colleen howe and Sam Li; editing by Florence Tan and Tomaszjanowski)
-
EU investigates alleged illegal dumping of tires from China
Following a complaint by the EU tyre sector, the European Commission opened an investigation on Wednesday to determine whether anti-dumping actions are required on imports from China of passenger car and light truck tyres. The Commission said that if the investigation confirmed that EU tyre industries suffer injury or are threatened with injury due to dumped imports coming from China, it may impose antidumping duties on these imports. The investigation must be completed within 14 months from the date of launch. "Provisional anti-dumping actions may be imposed in eight months if dumping has been established and a resultant injury is provisionally proven," the report added. The EU has already implemented anti-dumping measures and anti-subsidy policies on the importation of Chinese tyres and wheels for bus and lorry. In 2024, the EU market for passenger car tyres and light trucks is expected to be worth more than 18 billion euro ($20.41billion).
-
IndiGo Airlines reports its first quarterly profit increase in four quarters
IndiGo, India's national airline, reported on Wednesday that its fourth-quarter profits had risen by 62% - the first time in four quarters. This was due to a robust demand for domestic flights. The largest airline in the country by market share made a profit for the quarter ending March 31 of 30,73 billion rupees, up from 18,94 billion rupees last year. In recent years the Indian aviation industry has experienced robust growth, especially in the post pandemic period. This is largely due to rising income levels and a growing middle class. Analysts noted that IndiGo was at the forefront of resurgence due to its fleet expansion and new routes. The airline's yield (which is the amount of money that an average passenger earns for each kilometre traveled) rose by 2.4%, to 5.32 rupees a kilometre, in the third quarter. The company's operating revenue for the quarter increased by 24%, to 221.52 billion Rupees. This growth was partly aided by the introduction more routes with Business Class seats. The total expenditure grew 19%, to 199.3 Billion Rupees. IndiGo improved its load factor (or the capacity used to carry passengers) from 86.4% to 87.4%. The company expects its first-quarter seat-kilometre capacity to increase by a mid-teens percent from the year before. IndiGo shares closed 0.4% ahead of the quarterly results. The shares gained 12% for the quarter ending March 31. $1 = 85.5170 Indian Rupees (Reporting and editing by Janane Venkatraman in Bengaluru, Meenakshi maidas and Nandan Mandyam)
-
Poland claims Russian ship made'suspicious' manoeuvres near cable to Sweden
In a Wednesday post on X, the Polish Prime Minister Donald Tusk stated that a Russian ship belonging to the "shadow fleet", which is subject to sanctions, performed suspicious maneuvers near a cable connecting Poland and Sweden. He added that "after the effective intervention by our military, the vessel sailed into one of the Russian port." He added that the ORP Heweliusz of the Polish Navy was on its way to the scene. The 600 megawatt cable undersea links the Swedish coast near Karlshamn to Ustka, in northern Poland. This allows both grids rely on the cross-border supply of electricity when it is cheaper in one system. NATO has increased security in the Baltic after a series of incidents where power cables, telecom links, and gas pipelines were damaged following Russia's invasion in Ukraine in February 2022. The cable, according to Wladislav Kosiniak Kamysz, belongs to the Polish grid operator PSE. (Reporting by Alan Charlish, Pawel Florkiewicz, Marek Strzelecki, Barbara Erling; Editing by Alex Richardson)
Iraq's Oil Minister has "reservations" about energy agreements signed with Kurdish Region
Iraq's Oil Minister said the federal government had reservations about the energy agreements signed by Iraqi Kurdistan, after Iraqi Kurdish Premier Masrour barzani oversaw two deals worth $110 billion in total over their lifetimes.
Hayan Abdel Ghani, a reporter on Wednesday, said: "Agreements like these should be signed by federal government."
The agreements concern the development of the Miran, Topkhana-Kurdamir and Kurdamir-Topkhana gas fields in northern Iraqi Sulaimaniya. On Tuesday, the federal oil minister that Abdel-Ghani heads called the deals “null and null”.
In response, the Kurdistan Regional Government's (KRG) Ministry of Natural Resources issued a statement stating that these deals were based upon contracts signed "many decades ago" that were upheld by Iraqi courts as legal.
The Kurdistan Regional Government and the Federal government have long had a tense relationship over the control of oil and gas.
The main dispute concerns a pipeline that runs through Turkey. It has been stopped since March 2023, after the Paris based International Chamber of Commerce found that Turkey had violated provisions of 1973 treaty when it allowed Kurdish exports to Baghdad without Baghdad’s consent.
The negotiations to resume Kurdish crude oil exports through the Iraq-Turkey pipeline, which handled 0.5% of world oil supply at one time, have been stalled due to payment terms and contract specifics. Reporting by Muayad Kenany in Baghdad and Ahmed Rasheed Writing by Yousef Sabah Editing by Louise Heavens, Frances Kerry and Louise Heavens
(source: Reuters)