The PM of Peru has said that the government will no longer fund Petroperu's deficit,

Related News

• Canadian oil tycoon suggests US aid in Venezuela's oil revolution

  The Canadian oil tycoon, who is the head of one of North America’s fastest growing?oil firms, wants his country to offer its expertise in heavy-oil to the United States to help rebuild Venezuela’s?oil sector. Adam Waterous is one of Canada's most active oil industry dealmakers, and executive chair of Strathcona Resources. His comments show a surprising willingness for him to support Donald Trump, despite the trade war he has with Canada, and the possibility that Venezuelan crude could displace some Canadian petroleum on the U.S. oil market. Canada is the fourth largest oil producer in the world. It is also the world's top producer of heavy oil that is similar to Venezuelan crude, which it extracts from its oil sands. Waterous said Canada is uniquely qualified to help Venezuela because of its decades of experience in extracting crude oil from the oil sands. It also has something to offer Trump before expected trilateral trade negotiations later this year. Waterous stated in an interview that "we are better positioned than any other country to help rebuild." "I'd expect, but don't really know, that a request for assistance would be welcomed." Waterous stated that Strathcona does not intend to invest in Venezuela. Waterous said that Canada could help the United States by helping rebuild Venezuela's petroleum industry at a time where Trump's trade policies have strained relations. STRATHCONA IS WILLING TO SEND A TECHNICAL TEAMS Trump invited U.S. oil executives to the White House last week to discuss Venezuela. The event was not attended by any Canadian companies. "I wasn't invited and it is not the Canadian industry's job to call Donald Trump and ask, "Do you want some assistance?" Waterous added, "I do believe there is an opportunity." Waterous, who studied at Harvard University and has U.S. connections through Henry Hager (son-in law of former President George W. Bush), who is Strathcona’s managing director, said that he would immediately assemble a team from his firm to go to Venezuela when asked. He said, "I am sure that no heavy oil company would refuse to do so." Strathcona, Canada's largest oil producer was built by Waterous, a former banker and founder of the private equity firm Waterous Energy Fund. The company extracts heavy oil using steam-assisted technologies in Cold Lake, Alberta and Lloydminster. He is known for his aggressive deal-making Waterous, a billionaire with a fiery personality, shook Canada's oil patch by taking on Cenovus in a heated battle for MEG Energy. Waterous, who was unsuccessful in his attempt to purchase MEG, announced that he would more than double Strathcona’s production by 2035 to 300,000 BPD -- a rate which would be far greater than any of Strathcona’s competitors. TRADE REVIEW PENDING This year, the Canada-United States Mexico Agreement, which shielded Canada's exports against U.S. Tariffs, will be reviewed jointly. Some investors have suggested that an increase in Venezuelan crude oil flowing to the United States may weaken Canada’s leverage. Mark Carney, the Canadian Prime Minister, raised the possibility of reviving a Keystone XL The oil pipeline from Alberta into the United States was discussed during a meeting earlier this year with President Trump as he sought to find a solution to the painful U.S. Tariffs On steel, autos and many other products. Waterous said Canada now should?try to utilize its heavy crude expertise. He said that the long-term risks of the U.S. purchasing Venezuelan crude increases Canada's need to diversify markets and build a new pipeline to the Pacific. Canada exports 90% of its crude oil to the U.S. but analysts say that a large increase in Venezuelan crude production could directly compete with Canadian barrels refined along the U.S. Gulf Coast. A spokesperson from Canada's Natural Resources Ministry said that the ministry has not offered Trump any help in Venezuela's oil industry. Last week, the discount between heavy Canadian crude and U.S. crude widened to 14%. Meanwhile, shares of Strathcona as well as other Canadian heavy oil producers dropped on investor concerns about the revival of Venezuela's petroleum sector. (Reporting and editing by Caroline Stauffer in Calgary, Rod Nickel and Nick Zieminski.)

• Oil prices spike on potential Iranian supply disruption

  The oil prices continued to rise on Tuesday as heightened concerns about the major Iranian producer and possible supply disruptions overshadowed the?prospects of an increased crude supply coming from Venezuela. Brent futures rose $1.20 or 1.9% to $65.07 per barrel at 1150 GMT. This is the highest Brent has been since mid-November. U.S. West Texas Intermediate Crude climbed $1.23 or 2.1% to $60.73. John Evans of PVM Oil Associates said, "The oil markets are building some price protection to counter geopolitical factors." Evans highlighted the possible exclusion of Iran’s?exports as well as the problems in Venezuela, the talks about the Russia-Ukraine conflict and the Greenland issue. Iran, one the largest producers of oil in the Organization?of Petroleum Exporting countries, is currently facing its most violent anti-government protests in many years. Donald Trump warned of possible military action after a government crackdown on protesters led to thousands of arrests and hundreds of deaths, according to a rights group. Trump said on Monday that any nation that conducts business with Iran would be charged a 25% tariff on all business done with the United States. Iran exports most of its oil to China. Unidentified drones also struck four Greek-managed tankers on Tuesday. Eight sources said that the tankers were on their way to the Caspian Pipeline Consortium terminal near the Russian coast. Janiv Shah of?Rystad said that for the moment, concerns over a glut in supply have been put on hold. He added that excessive refinery output in Europe is weighing down the gasoil markets. Unrest supports Brent's Premium Brent crude oil's price premium over Middle East benchmark 'Dubai' rose to its highest level since July on Tuesday as geopolitical tensions between Iran and Venezuela boosted the global 'price marker', LSEG data revealed. Barclays stated in a note that "unrest in Iran added approximately $3-4 per barrel to the geopolitical premium of oil prices." The markets are also concerned about the additional crude oil supply that will hit the market with a return of Venezuelan exports. Trump announced last week that Caracas was ready to 'hand over to the U.S. up to 50 million barrels oil subject to Western sanctions. Oil trading houses from around the world have beaten U.S. energy giants in the race to control Venezuelan oil flows. Reporting by Seher DAREEN in London, Anushree MUKHERJEE in Bengaluru, and Jeslyn LERH in Singapore. Editing by Bernadette BAUME and David GOODMAN

• Diesel exports from Russia jumped 40% in December due to higher fuel production

  Data from LSEG and market sources showed that Russia's seaborne gasoil and diesel exports increased by almost 40% in December compared to November, reaching about 3,41 million metric tonnes. This was due to higher fuel production, and a'seasonal decline in domestic demand. Sources said that exports of ultra-low sulphur diesel via Primorsk - Russia's largest outlet for diesel shipments - grew 35% on a month-on-month basis to 1.7 millions tons as major suppliers increased output and supplies. Last month, diesel?and gasoline loadings at southern ports Tuapse?and Novorossiysk increased by?almost 60 percent compared to November. This was due to local refineries increasing shipments. Rosneft's Tuapse Refinery, which exports the majority of its output?, resumed processing on November 21,?after two weeks of halting due to Ukrainian drone attacks. Fuel export loads were lifted in December. LSEG data shows that Brazil was the largest buyer of Russian gasoil and diesel last month. Diesel loadings into Morocco increased sharply from 70,000 tons to 321,000 tonnes in November. Last month, the total amount of supplies for ship-to-ship transfer near Limassol in Malta and Port Said in Egypt was nearly 0.5 millions?tons. These cargoes' final destinations are still unknown. According to LSEG, several tankers that have a total of?about 310,000 tons diesel from Russian ports are yet to declare the ports of discharge. (Reporting from in Moscow. Mark Potter is the editor.

• Four tankers, which had left Venezuela in "dark mode", are now back in its waters

  Four tankers, the majority of which were loaded, left Venezuela early in January in "dark mode" - that is, with their transponders turned off despite a "strict" U.S. blockade. According to the state company PDVSA, and the monitoring service TankerTrackers.com, the blockade is now in place. Last month, a flotilla consisting of at least three empty ships and a dozen vessels with cargo left Venezuelan waters. This was in apparent defiance to an embargo that President Donald Trump imposed on Venezuela since mid-December. The U.S. seized the?supertanker M Sophia with a Panamanian flag this week as it returned to the country. Another Aframax Tanker Olina, flying a Sao 'Tome and Principe flag, was also?intercepted, but was released to Venezuela Friday by state company PDVSA. Tankertrackers.com spotted three more vessels in Venezuelan waters on Friday night through satellite images. These were the Panama-flagged Merope and Cook Islands-flagged Min Hang, as well as Panama-flagged Thalia III. U.S. authorities had announced on Friday that Olina, formerly known as Minerva m, would be released. They said that the next step in the negotiations between Caracas, Washington and the U.S. for a $2 billion oil deal would be to begin organized crude exports. Donald Trump, the U.S. president, said that arrangements had been made for a supply of oil in a meeting with executives from top oil companies on Friday. Sources said that Vitol, Trafigura and other global trading houses received the first U.S. licensing to carry Venezuelan exports and to negotiate with Venezuela. Naphtha is also expected to be supplied to the OPEC nation, according to sources. Marianna Pararaga, Julia Symmes Cobb and Marianna Parraga contributed to this report.

• Amtrak receives $2.4 billion in funding to hire 2,500 new air traffic control officers as part of a US budget deal

  Bipartisan funding agreement announced by U.S. legislators?Tuesday funds 2,500 air traffic control officers and $2.4 billion for U.S. passenger rail Amtrak while cutting funds for high-speed train and?electric vehicle charging? The funding agreement includes $514 millions to subsidize rural air services, also known as the Essential Air Service Program. This is in contrast to the White House's proposal to reduce the program by half. It also increases annual funding for modernizing air traffic control towers to $824 million. The budget bill includes $2 million for an independent study of the airspace around Washington, D.C. after a crash in January 2025 between a U.S. Army chopper and American Airlines passenger plane that killed 67 and revealed'significant flaws in aviation safety. Federal Aviation Administration has a shortage of about?3,500 controllers, many of whom work six-day weekends and mandatory overtime. Congress approved $12.5 billion last year to modernize an aging U.S. Air Traffic Control System, but Transportation Secretary Sean Duffy is asking for another $19 billion. It also redirects $879 millions in funds for electric vehicle charging networks approved by then-President Joe Biden, to other infrastructure priorities and cuts $928 in high-speed train grants. The bill also provides $100 million in supplemental funding for transit agencies located in 11 U.S. host cities of the FIFA World Cup 2026 and $94 millions for transportation assistance related to the 2028 Olympics. The bill rejects also a funding reduction proposed by the White House for the Transportation Security Administration. They had requested a 3-4% decrease in?TSA personnel levels, with half of that amount going to staffing the exit lanes which allow people to enter public areas after leaving secure areas of an airport. The budget includes $300,000,000 to fund exit-lane personnel. (Reporting and editing by Andrew Heavens, Peter Graff, and David Shepardson from Washington)

• Sources say that Kazakhstan's Tengiz Oil Field will remain closed for 7-10 more days.

  Three industry sources have said that oil production in Kazakhstan's vast Tengiz field, which is one of the largest in the world, may be stopped for 7-10 days after it shut down on Sunday. This would cut crude exports through the Caspian Pipeline Consortium. Tengizchevroil, the operator of Tengiz-Korolevskoye Field, announced on Monday that production had been halted due to problems with power supply. According to KazMunayGas, the state-owned KazMunayGas, a fire had broken out on January 18 at two turbine transformers located at GTES-4, the power station for this field. One source stated that "TCO's production is down until the end of the week but this could continue until February." Three sources said that, due to the incident?TCO already cancelled five cargoes totaling 600,000-700,000.00 metric tons of CPC Blend crude scheduled to be shipped out from CPC's terminal at Black Sea in January and Feb. Chevron, the largest shareholder of TCO, did not respond immediately to a comment request. Sources spoke on condition of anonymity. TCO's press service responded to an inquiry Tuesday by confirming that production has temporarily been suspended at?Tengiz & Korolevskoye, as a "precautionary measure". They did not specify the cause of fire or when production will resume. Source: Other producers are raising output. One source familiar with the data stated that the fall in Tengiz's oil production has not yet affected Kazakhstan’s overall production, as other producers have increased their extraction. Kazakhstan's crude oil production dropped by 35% between December and the first 12 days in January due to restrictions on CPC exports. According to the source, the output of two huge Caspian fields, Kashagan & Karachaganak began to increase rapidly in the days following. Kashagan's average daily production increased by 28% to 197,000 barrels between January 1-12 and January 1-19, while Karachaganak saw a 21% increase to 156,000 barrels. Tengiz's production increased by 6% in the period to 360,000 barrels a day. The press offices of Karachaganak Petroleum Operating, and NCOC did not reply to requests for comments. The source stated that "NCOC, KPO and CPC are partially compensating the Tengiz shut down. But in a few days CPC will start to reduce throughput." Kazakhstan exports the majority of its oil through CPC. However, due to damage at the marine terminal located in Yuzhnaya Ozereyevka to the infrastructure, some crude is redirected into the Baku-Tbilisi Ceyhan (BTC), and then to Germany via Druzhba. ExxonMobil, KazMunayGas, and Lukoil are also project partners. KazMunayGas holds 20% of TCO while ExxonMobil has 25%. (reporters in MOSCOW; additional reporting by Robert Harvey, LONDON. Editing by Guy Faulconbridge & Jan Harvey).

• Snow blankets Russia's Far East, disrupting transport in China and Japan

  The heaviest winter storm to hit Asia in 60 years buried Russia's Far East under metres of snow on Tuesday. A winter blast blanketed Asia with snow, causing flights in Japan's Northwest to be grounded and affecting Shanghai. The cold snap disrupted travel across the region. Roads were closed in China and air travelers were stranded in Japan. Parts of?Russian Far East are now paralysed. Scientists have said that the weather is related to the waves of cold air from the Arctic which are simultaneously affecting Eastern Russia, Asia and Eastern Europe. Theodore Keeping said that the jet stream, which is the air currents above the atmosphere that determine weather patterns, was wavy. The Arctic polar vortex - a massive mass of cold air that circulates in the 'Arctic - is weak at the moment, which means that it is driving the jetstream less intensely and this leads to cool air waves coming down from the 'Arctic, said Keeping, a researcher for World Weather Attribution, Imperial College Centre for Environmental Policy, London. RUSSIA FAR EAST: LARGE SNOWDRIFTS According to weather monitoring stations, in Russia's Far Eastern Kamchatka Peninsula large?snowdrifts up to several metres high have blocked building entrances, and buried cars. This is after 2 metres of snow (6.5 feet) fell in some places in the first half January, following an earlier 3.7 metre accumulation in December. Residents were forced to dig narrow pathways through the snow in order to reach apartment entrances. Some cars were submerged and others had traction issues. In the port city of Petropavlovsk-Kamchatsky, ?locals were filmed walking atop snowbanks beside traffic lights, with some jumping from the drifts for fun. "It's like a sand dune," resident and blogger Polina Tuichieva said of the mammoth snow in Petropavlovsk-Kamchatsky, 6,800 km (4,200 miles) east of Moscow. RARE SNOW IN SHANGHAI A similar system moved southward into China where the same wave of cold temperatures brought snow to the financial center of Shanghai. Authorities warned that the cold weather could last at least three full days. Last time the east coast city experienced heavy snowfall was in January 2018. Li Meng, a 23-year old student from Shanghai, said: "It's the first time that I've seen such heavy snowfall." Local media reported that the wintry scenes were a stark contrast to a week ago, when Shanghai enjoyed temperatures as high as 20 degrees Celsius. Yu Xin, a Shanghai resident of 30 years old, said: "The weather is strange this year." "Last weekend, the temperature was over 20 degrees Celsius. This week, however, it has dropped below zero and it is snowing." The temperature has fluctuated a lot, and some people may feel uncomfortable. Chinese state media reported that temperatures dropped sharply in provinces to the south of Yangtze River and Huai?river, including Jiangxi Province and Guizhou. Zhejiang News reports that temperatures in Guizhou are expected to drop by 10 to 14 degree Celsius. CCTV reported that as ice conditions grew, sections of major highways in 12 provinces, including Shanxi and Inner Mongolia, were closed due to snowfall. Travel Warnings in Japan Strong winds and heavy snowfall in Japan disrupted travel on its northwestern coastline, causing dozens of flights to be grounded, as well as affecting popular ski areas at the height winter. The Japan Meteorological Agency has warned that heavy snow will hit the northern and western areas between January 21-25, urging people not to travel unless it is absolutely necessary. ANA Holdings canceled 56 flights affecting approximately 3,900 passengers. Japan Airlines cancelled 37 flights affecting about 2,213 travellers. ANA cancelled almost all its flights at New Chitose Airport in Hokkaido. (Reporting and writing by Bureaus; Michele Kambas, Alison Williams; editing by Alison Williams).

• Hong Kong court calls 18 witnesses in Baltic Sea cable damage case

  The lawyer of the Chinese captain who is accused of damaging undersea cables on a?ship registered in Hong Kong in the Baltic Sea, said that 18 witnesses will be called in to testify. According to a Hong Kong charging document, Wan Wenguo is accused of causing "criminal damages" on the underwater natural gas pipeline between Finland and Estonia in October 2023. Since Russia's full-scale invasion of Ukraine began in early 2022, the Baltic Sea region is on high alert for sabotage. This follows a series outages of gas pipelines, power cables and telecoms. Wan, 43 years old, appeared before the court on Tuesday, but his attorney, Jerry Chung said that more time was required to review documents and enter a plea. The case has been adjourned until February 11. Chung informed reporters that 10 witnesses, including Hong Kong officials and experts in maritime issues, would be called to testify on the charge of criminal damage. The maximum penalty is two years' imprisonment, Chung added. The charge sheet stated that Wan was "reckless", and had "without legal excuse" damaged property belonging to someone else. The Finnish authorities claim that the NewNew Polar Bear cut the Balticconnector subsea pipeline which connects Finland and Estonia below the Baltic Sea by dragging the anchor along the seabed. Estonian police suspect that the ship may have damaged the telecom cables connecting Estonia with Finland and Sweden, before it hit the pipeline. Wan's attorney did not provide any details about the damages that could be claimed and from whom. He also said that he had no knowledge of other parties who were being prosecuted in addition to Wan. Wan is also facing two charges of failing?to ensure that the ship met the safety requirements applicable to Hong Kong registered ships around the world, as per the International Convention for the Safety of Life at Sea. Chung stated that these included the 'disappearance' of an anchor from the ship and Wan failing to report to the company every day. Eight other witnesses will be called for these two infractions. Wan has been in custody since his arrest last May, when he did not ask for bail during his first hearing. The ship's Hong Kong-flag means that it is under the city's global maritime regulatory jurisdiction, even though the crimes did not take place in Hong Kong waters. Hong Kong prosecutors worked with Finnish and Estonian authorities to solve the case. Some European governments have accused Russia hybrid attacks and of sabotage against critical infrastructure. Moscow, however, has denied these claims, claiming that the West seeks to undermine Russian interests by waging an information warfare. Reporting by James Pomfret, Editing by Anne Marie Roantree Jacqueline Wong Kate Mayberry

• Chile fires kill 19 people in extreme heat

  Authorities in Chile said that at least 19 people have died as a result of wildfires. The government has carried out mass evacuations, and is battling nearly 20 fires, which are exacerbated by high winds and intense heat. At a Monday morning news conference, Luis Cordero, Minister of Security, said that while the?weather conditions over night helped to control some fires but the largest ones were still active and adverse conditions are expected all day. Cordero stated that the forecast for today was high temperatures, and the primary concern was the possibility of new fires igniting in the entire region. Extreme heat warnings were issued for parts of central and south Chile, with temperatures expected to reach as high as 37 Celsius (99 Fahrenheit). HUNDREDS of Homes Destroyed The majority of those who died were from Penco, which is a small coastal city located just north of Concepcion, the regional capital. On Monday, residents of the area began to sift through the rubble from their homes while firefighters continued to put out nearby fires. Ana Caamano (51), one of these residents, was rummaging in the ashes of her home in Lirquen, which she had inherited later from her parents. The wreckage included the corpses of two of her four dogs, a few charred rings, and a metal ladle. Ana Caamano, staring at the rings she held in her hands, said: "They're just not important." "But they're memories." Caamano, her husband Luis and their children were visiting relatives on Saturday, when the fires started. They had been cleaning up the wreckage in their garage so that they could build a temporary home. Franco, their son, was at home. He was attempting to hose the house down when he saw the fire getting closer. A sudden, strong wind brought in a cloud of black smoke, forcing him to leave everything behind. It was lightning fast, said Franco, echoing the memories of many residents who were caught up in a fire that moved so quickly they had little time to escape. Authorities report that 325 homes were destroyed, and another 1,100 are currently being assessed. STATE OF EMERGENCY IS DECLARED IN BIO BIO, NUBLE Chile's CONAF forest agency reported that as of Monday afternoon firefighters were fighting 26 fires throughout the country. The largest were in the regions of Nuble, Bio Bio and Nuble, where President Gabriel Boric had declared a?state of catastrophe. The largest fire, which engulfed 14,000 hectares, was on the outskirts of Concepcion, a coastal city. The authorities are battling a fire that threatens the Manzano Prison on the edge Concepcion, and the town Tome in the north. Heat waves have continued in both Chile and Argentina into the month of January. Wildfires erupted in Argentina's Patagonia earlier this month and burned around 15,000 acres. (Reporting and editing by Bernadettebaum and Andrea Ricci; Alexander Villegas)

• After the crash of a train in Spain, passengers describe their terror and screams.

  The survivors of the high-speed train crash in southern Spain described Sunday night the impact moment as a violent jolt followed by screaming, flying objects, and blood. When the accident occurred, the trains were carrying 400 people. It happened in Cordoba province, around 360 km south of Madrid. According to emergency services, 122 people were injured. 48 are still hospitalized and 12 remain in intensive care. On Monday, most survivors admitted that they had no idea of the magnitude of the tragedy until they went outside to see the injured or dead passengers and the rescuers at work under floodlights. "I began to get up and thought, This isn't right. I then looked for my younger sister. It was the last thing I remembered before everything went "dark", said Ana Garcia Aranda (26), who had just returned from Malaga after visiting her family with her sister, and their dog. She was rescued by other passengers who had broken the windows of her carriage. "Some people were okay and others were very, extremely badly injured." "You knew they would die and you could do nothing," she said while wearing plasters to her face. Later, firefighters rescued her sister and brought her to the hospital where she is currently in intensive care. Emergency vehicles filled the narrow roads as sirens echoed throughout the night. Residents of Adamuz say the entire town mobilised to bring water, food, and blankets to the stranded passengers. Salvador Jimenez said, "That will not be forgotten", a journalist from the Spanish public broadcaster RTVE who was rescued from one of those trains. In the end, this is a lottery. "Many of us were lucky." Paqui, whose farm is in the region and who rushed with her husband to the scene, remembers the horrific scenes inside and around the train. "Pieces of people, they weren't any more people. You found arms." "My husband saw a child who died inside... Another child calling for his mom, searching for his mom," she said. "I cannot sleep. Those are images that you will never forget." Raquel, another passenger, told Cadena Ser radio: "I was thrown out of the back cabin, and I opened the door with the top of my head." She added that she briefly fell unconscious before walking towards the firefighters. (Reporting and writing by Nina Lopez; Leonardo Benassatto; Susana Vera; Jesus Calero. Editing by Andrei Khalip, Sharon Singleton, and Sharon Singleton.)

• Kenya launches IPO of state oil pipeline company, aims to raise $825 Million

  Kenya sold a 65% share in its oil pipeline firm on Monday. The company hoped to raise $825 million through the largest IPO ever for East Africa. This sale is part a campaign by the government of President William Ruto to divest state companies in order to raise money for new infrastructure and sovereign wealth funds. The government is also selling its stake in the?telecoms company Safaricom. Documents indicating the IPO price for Kenya?Pipeline Company showed that the government set the price at nine shillings a share. The sale will run until February 19 and the shares will be listed for trading on the Nairobi exchange on March 9. Kenya Pipeline IPO is the largest in the region, surpassing the initial sale of Safaricom to the public that the government made in 2008 for?50 billion shillings. The announcement comes as the equity capital markets are recovering globally and stock markets have reached record highs. According to LSEG data, equity capital markets activity will total $738.4 billion by 2025. This is a 15% increase year-on-year. It marks the highest annual period of global equity?capital market activity in four years. Over a fifth was raised by European, Middle East and African issuers through equity capital markets offerings.

• Reports from RTVE show that the death toll in Spain due to a high-speed train crash has risen to 39.

  According to RTVE, citing sources from the police, the death toll in Sunday's collision of a derailing high speed train with a second approaching train has risen?to?39, while 152 others were injured. The accident occurred at 7:45 pm local time (1845 GMT), on Sunday, near Adamuz. This is about 360 km south of Madrid. RTVE reports that over 200 trains between Madrid, southern Andalucia and major cities Cordoba and Seville were cancelled on Monday. In a Monday statement, his office announced that Prime Minister Pedro Sanchez had set out "his agenda" for the day. On Sunday, a video from the scene was shared on social media. It showed rescuers pulling people from the sideways twisted carriages under the floodlights. Some passengers were able to climb out of the smashed window, while others had to be wheeled on stretchers. Around 400 passengers were on both trains. Most of them were Spaniards returning to Madrid from the weekend. As January is not a holiday season in Spain, it was unclear how many tourists might be on board. At a press briefing held at the Atocha Station in Madrid, Spanish Transport Minister Oscar Puente said that it was not yet clear what caused the crash. (Reporting and editing by David Latona; Victoria Waldersee)