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Yemen's Houthis warn Saudi Arabia of their targets in response to Iran's flight to Sanaa
Yemen's Houthis claimed on Friday that their forces had engaged Saudi "warplanes", which they claimed 'attempted to stop an Iranian civilian aircraft from landing at Sanaa International Airport', according to the military spokesperson for the group Yahya Saarea. Sarea, an Iran-aligned group, warned they would "target Saudi airports and vital interest on land and sea" if Saudi Arabia continued to violate Yemeni airspace. He added that flights between Sanaa, Iran and Tehran would continue despite "possible consequences". Al Masirah TV, a Houthi-run channel, reported on Friday that an Iranian plane landed in Sanaa to fly the group's delegation to Tehran for the funeral of Iran’s late Supreme leader Ayatollah Ali Khamenei. Other passengers included more than 200 patients. Saudi Arabia led the military coalition which intervened in Yemen after the Iran-aligned Houthis took over the capital Sanaa in 2015. The Saudi-led coalition claimed early on Saturday that the Houthis' statements against the Kingdom were an attempt to "divert the attention" away from the group's "violations". It warned it would react firmly with "unprecedented force" against any attempts to attack the kingdom or violate Yemen's sovereignty. The Houthis demonstrated their missile and drone capabilities in Yemen's?war by attacking Saudi Arabia, targeting oil installations and critical infrastructure. Reporting by Eman Abohassira, Menna Alaa el-Din and Editing by Louise Heavens Philippa Fletcher David Gregorio
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Heatwave disrupts Fourth of Jule events in eastern US
The Fourth of July festivities were disrupted by a 'dangerous heatwave' that swept across large swathes of the central and eastern U.S. The Great American State Fair, which was a major event in President Donald Trump's celebration of the 250th anniversary of the United States, was also affected by the heat. The Great American State Fair was temporarily closed Friday afternoon as temperatures reached 101° Fahrenheit (38° Celsius). The organizers said that they expect the fair to reopen by?5 pm, with modifications such as cooling tents and spritzing stations. The emergence of the "heat dome," a system of high pressure that traps hot air over a large area, caused record-breaking temperatures to spread from the Midwest to the east of the U.S. earlier this week. More than 185 million people, or more than half of the U.S. population, were under heat alerts on Friday. National Weather Service reported that on Friday there were heat alerts for over 185 million people, more than half of the?U.S. In some parts of the nation, heat indexes can reach up to 115 F (46 C). Forecasters and government officials warned that this heat wave could be deadly. The government urged Americans to be hydrated and seek shade when attending public events and gatherings during the Fourth of Independence weekend. There were cancellations of events along the Eastern Seaboard during the Fourth of July weekend. This is when Americans usually 'gather to barbecues, parades, and fireworks displays in celebration of the 1776 Declaration?of?Independence. The Salute to Independence Parade in?Philadelphia was canceled due to extreme heat. The decision was made after temperatures reached 103 F in Philadelphia on Thursday. This tied a record set back in 1901. Heat-related disruptions were also felt in other parts of the region. Haddon Township in New Jersey canceled its annual Fourth of July parade. Watertown, upstate New York, cancelled its Independence Day concert. Boston officials have delayed the entrance to an annual riverside celebration of fireworks by four hours. The event was originally scheduled to begin at noon, but now it will start at 4 p.m. Reporting by Ahmed Aboulenein, Washington; Nathan Layne, New York. Editing by Mark Porter and David Gregorio.
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Heatwave disrupts Fourth of Jule events in eastern US
The Fourth of July celebrations were ruined by a 'dangerous heatwave' that swept through much of central and eastern U.S. On Friday, the heat wave forced officials to cancel or postpone dozens parades, concerts, and fireworks displays in celebration of the 250th anniversary of America. The Great American State Fair, a centerpiece event of President Donald Trump's efforts to celebrate the 250th anniversary of the United States of America on the National Mall of Washington was temporarily closed on Friday afternoon due to temperatures of 101 degrees Fahrenheit. Organisers have said that it is expected to reopen, weather permitting, at?5 pm, with modifications such as cooling tents and misting station. The National Weather Service reported that record-breaking temperatures reached the east coast of the United States from the Midwest this week. Over 185 million people received heat alerts for Friday. In many areas, peak heat indexes could reach?up to 115 degrees Fahrenheit. Forecasters and government officials warned that the heat wave was potentially deadly. They urged Americans to celebrate the Fourth of July outdoors, stay hydrated and seek shade, and be on guard for signs of heat illness. At least seven states have reported event cancellations, including a "major Independence Day Parade" in Philadelphia, as well as "events" in Maryland's Takoma Park, and Loudoun County in Virginia. Ahmed Aboulenein reported from Washington, Nathan Layne from New York and Mark Porter edited the story.
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PJM, the largest US power grid, intensifies emergency measures to prevent blackouts
PJM, the largest U.S. power 'grid operator, said?Friday he was on a federal alert for reducing electricity consumption in his territory due to generator failures, massive overloading of?its transmission lines and a spike in ac usage from prolonged sweltering temperatures. PJM said it had told utilities that they could reduce the electricity supplied to customers if they were under contract. PJM serves 67,000,000 people in the Mid-Atlantic, South, and Washington, D.C. area. This week, spot wholesale electricity prices in Northern Virginia, the home of the largest 'collection of data centres in the world, soared past $2,000 per megawatt hour. This compares to a?about 40?per MWh if PJM was not in distress. According to industry analysts and PJM operations data, the surge in prices is mainly because it's becoming expensive to supply power accross congested high voltage power lines.
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Alupar and Axia win power transmission projects in Brazil
A consortium led by Brazilian power company Alupar secured the largest lot in Friday's power transmission auction in Brazil, while Axia Energy won the other three projects. The consortium of Alupar, the Infra II Investment fund and other partners'secured' the installation of underground transmission in the metropolitan area of Sao Paulo with a proposal that offered to take 48 percent of the maximum revenue the project could generate. The auctioned lots on Friday were the most expensive, with the highest?investment expected at 1.1 billion reais (212.9?million). Axia Energia was awarded the remaining projects in Sao Paulo state, Mato Grosso state, and Mato Grosso do Sul with 668 million reais of required investment. According to the results released in Sao Paulo by the B3 stock market, Axia's winning offers offered a discount of more than 50% on the?allowed revenue in three cases. Brazil reauctioned four 'power transmission projects' after MEZ Energia - a company which had won concessions for 2020 and 2021 - failed to progress with them.
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Ivory Coast increases renewable energy with new solar power station
Ivory Coast opened a solar power plant of 52.4 megawatts (MW) on Friday as part of its 'efforts' to increase the % share of regenerative energy in their electricity mix, and achieve climate goals by 2021. The world's biggest cocoa producer wants to be a major energy supplier in West Africa. It aims to use 46% renewable energy by 2035. Ivory Coast has an installed capacity of approximately 3,000 MW. Most of this power is generated by oil and gas plants. It exports electricity to Ghana, Burkina Faso. Benin, Togo, and Mali. At the opening ceremony, Mines Minister Mamadou Sangafowa Coulibaly stated that "Today's Ceremony fits perfectly with Ivory Coast's strategy... to accelerate its energy transition through diversifying the electricity mix by expanding renewable energy capacity." According to PFO Africa, which is a 100% Ivorian infrastructure investment group, the Ferke Solar Plant?will?supply electricity for 370,000 households and directly serve about 2,000,000 people in primarily?the northern Ferkessedougou Region?. Construction ?of the plant was ?financed by PFO ?Africa subsidiary PFO Energies and it will operate on a Build-Own-Operate-Transfer basis. (Editing by Ayen deng Bior, Editing by Emelia sithole-Matarise).
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Yemen's Armed Forces Threaten Saudi Targets over Iran Flight to Sanaa
According to a military spokesperson, Yahya Saarea, Yemen's armed force alleged that they had confronted Saudi 'warplanes' attempting to prevent an Iranian civilian aircraft from landing in Sanaa International Airport. Sarea reported that the Iran-aligned group had warned they would "target Saudi airports and vital interest on land and sea" if Saudi Arabia continued to violate Yemeni airspace. He added that flights between Sanaa, Yemen and Tehran would continue despite "possible" consequences. Houthi Al Masirah TV reported earlier on Friday, that an Iranian aircraft had arrived in Sanaa. The group's delegation was then flown to Tehran for the funeral of Iran's Supreme Leader Ayatollah Ali Khamenei. Among the passengers were more than 200 patients. Saudi Arabia led a coalition of military forces that intervened militarily in Yemen in 2015. This was after Houthis, who were aligned with Iran, seized Sanaa as the capital. The Houthis demonstrated their drone and missile capabilities in attacks against Saudi Arabia, which targeted oil installations and other vital infrastructure. (Reporting and editing by Louise Heavens, Philippe Fletcher and Eman Abouhassira)
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CMA CGM ship damaged by missile in the Hormuz Strait could be scrapped, CEO states
The CMA CGM container vessel that was damaged by a'missile' in the Strait of Hormuz early in May may be sent to scrapyard, according to its chief executive. The CMA CGM San Antonio was attacked by a missile. Several members of the crew were injured and evacuated. The ship was one of the dozens of commercial ships that were?struck' during the Iran War. Rodolphe Saade, Chairman and CEO of CMA CGM, said at a business meeting in southern France that the car was "so damaged" that they were considering scrapping it. San Antonio, which had been stuck in the strait since a few weeks, has now been brought to safety. He said that the group did not intend to send ships back to the Gulf at this time. The Iranian side was advising against it. Saade, whose family controls CMA CGM, has reiterated his opposition against transit fees to use the Hormuz Strait. These are a few of the?unresolved questions in U.S. - Iranian peace talks. CMA CGM was the third largest 'container shipping' line in the world at the beginning of the Iran War, which virtually closed the waterway. Saade stated that CMA CGM wants to see four more vessels leave the zone. In a French press interview, the CEO said that some of their vessels are intended to be used in the Gulf.
Sources say that Novatek, a Russian company, offers deep discounts on LNG sanctioned to Chinese buyers.
Sources familiar with the matter say that Novatek, a Russian producer of liquefied natural gases, has reduced the price of its cargoes between 30% and 40% since August in order to encourage Chinese buyers to buy sanctioned gas produced by its Arctic LNG 2 Project.
The purchase has ended the commercial limbo of the $21 billion project that is subject to the most severe sanctions the U.S., Europe and Russia have imposed against Russia.
Washington wants to stop the flow of oil revenue into Kremlin bank accounts as U.S. president Donald Trump increases pressure on Moscow to end their war in Ukraine. The White House also threatens to take action against countries who continue to purchase Russian energy exports.
But China, which has been a close ally to Russian President Vladimir Putin for many years, is opposed to Western sanctions.
It could be difficult to crack down on Chinese companies that violate them. Washington struck a delicate ceasefire in its trade dispute with Beijing only last month. A senior industry source stated that enforcing these measures could undermine U.S. plans to do its own LNG deals.
DEEP DISCOUNTS DRAW CHINESE BUYERS TO PUTIN'S LINKED PROJECT
Novatek, a company co-owned with some of Putin's closest ally, began producing LNG in the plant as early as December 2023. It failed to sell any cargos until August of this year when it cut prices for Chinese buyers.
According to a source familiar with the transaction, the gas producer sold the first cargo delivered on 28 August at a discount between $3 and $4 from the Asian LNG benchmark price of $11 per mmBtu.
A second source familiarized with the deals stated that Chinese buyers continue to receive steep discounts between 30% and 40% for subsequent deliveries.
This means that cargoes sell for $28 to $32 millions, which is well below the market value of $44 million.
Prices of the cargoes were not previously disclosed. The names of the Chinese firms that purchased them have not been revealed.
Novatek has not responded to a comment request.
WASHINGTON IS NOT ENFORCING THE SANCTIONS IT HAS IMPLIED
Many of the oil and gas produced by Moscow are not directly affected by Western sanctions. China is Moscow's largest buyer of energy exports.
Joe Biden's predecessor, Trump, had imposed sanctions against Arctic LNG 2 and related entities, as well as vessels, shortly after the company began operating in December 2023.
TotalEnergies, the French partner, subsequently pulled out of the project. However, two of China's biggest energy companies - China National Petroleum Corp. and China National Offshore Oil Corporation each retained a 10% stake.
The sanctions have also stymied Russian hopes to acquire a fleet Arc7 ice class tankers for year-round deliveries.
According to traders, until August, Novatek spent millions of dollars on storage units and floating cargoes.
Trump has made the end of the conflict in Ukraine his top foreign policy priority. To pressure Moscow into negotiations, Trump has increased U.S. sanctions against Russian energy. He also urged allies to do so. And he threatened countries that buy Russian exports such as India with steep tariffs.
Washington has so far not taken any action to punish Chinese companies involved in Arctic LNG 2 purchases.
They are pressing their allies not to import Russian LNG or gas. They are not implementing sanctions on Arctic LNG 2," Anne-Sophie Corbeau said, a researcher with Columbia University's Center on Global Energy Policy.
The White House didn't respond to an inquiry asking whether the administration was worried about the LNG purchases, and if any efforts were being made to discourage or stop the transactions.
The two senior sources in the industry said that the Chinese government had approved the purchase. The Chinese business registration portal shows that the Beihai LNG Terminal, in southern China, where the cargoes will be delivered, is operated by the state-owned energy infrastructure giant PipeChina.
The office of the spokesperson for the Foreign Ministry did not comment directly when asked if China gave any guidance on the imports, or if they were concerned that Washington could impose sanctions against PipeChina, who runs the majority of the country's infrastructure in oil and gas. However, they reiterated China’s opposition to unilateral sanction and "long arm jurisdiction".
The spokesperson's office stated that "energy cooperation between China and Russia" is a normal economic and commercial cooperation benefiting both countries.
BEIHAI BECOMES CHINA’S DEDICATED RUSSIAN IMPORT TERMINAL
Beihai was a mid-sized gas terminal that had previously been used to import LNG from various companies and sources, including eight cargoes of U.S. Liquefied Natural Gas in 2024.
A third Chinese source with direct knowledge on the issue said that since August, PipeChina refused to allow other companies to access Beihai. This has effectively turned into a dedicated entry for Russian gas.
In October, the UK government imposed sanctions against Beihai.
PipeChina has not responded to any requests for comment.
Trump has also expressed his desire to sell LNG to China. He has done this repeatedly, integrating American energy exports in trade agreements with partners who are seeking to lower U.S. tariffs.
Western energy executives who sell gas to China said that the United States would have a hard time sanctioning PipeChina because it would also block U.S. sales.
Due to the tariffs that were imposed in the trade war between two of the largest economies, China hasn't imported any U.S. LNG from February.
(source: Reuters)