Latest News
-
Ukraine's grid operator claims that the energy situation in Ukraine has'significantly worsened'
Kyiv’s grid operator said that Ukraine’s energy situation “significantly” worsened Friday following recent Russian air attacks. This triggered emergency power outages across most regions. This grim assessment came after a statement made by Energy Minister Denys Shmyhal, who said on Thursday that Ukraine’s energy system has experienced its worst day since the November 2022 blackout when Russia started bombing Ukraine’s power grid. Moscow has intensified airstrikes over the past few weeks, further damaging infrastructure that was already badly damaged and leaving many people without heat and power during this subzero cold spell. Ukrenergo announced on Telegram that several power plants are in need of emergency repairs due to?the combined missile and drone attacks. The equipment was operating at the 'limits of its capability,' it stated. It added that power blocks were carrying a?tremendous? overload due to damage caused by Russian strikes. Maxim Timchenko said that the situation in Ukraine was "close to humanitarian disaster" on Friday. any future peace deal The agreement between Russia and Ukraine should include an end to the attacks on energy infrastructure. Negotiators from Ukraine and Russia Meeting in Abu Dhabi On Friday and Saturday, U.S.-brokered talks will take place between the three countries to move towards a resolution of this nearly four-year old war. The European Commission On Friday It would send 447 'emergency generators' worth 3.7 millions euros ($4.3million) to restore electricity to Ukrainian hospitals and shelters, as well as critical services. This comes after President Volodymyr Zelenskiy declared a state of energy emergency. Ukrenergo stated in a statement that it hoped to complete repairs "shortly" and return to scheduled outages. Ukraine's grid is almost exclusively dependent on nuclear power and has lost more than half its capacity. (Reporting and writing by Yuliia Dyesa, Anna Pruchnicka and Dan Peleschuk; editing by Daniel Flynn & Mark Heinrich).
-
Source: Adani and Embraer will announce a pact to assemble civil airplanes in India next week
A?source who has direct knowledge of this matter said that the aerospace and defence company owned by billionaire Gautam?Adani and Brazil's Embraer would announce a tie up?next?week to assemble commercial planes in India. This will boost?the civil aviation industry?of India. The Indian government has been urging planemakers to manufacture jets in India for years, citing over 1,500 orders from Indian carriers. Assembling commercial aircraft in India will be a major win for them. Planemakers have resisted this until now, arguing that the "business case" did not make sense. Adani Aerospace signed a Memorandum of Understanding with Embraer to establish a final assembly line in India for regional jets. Embraer is the third largest planemaker after Airbus and Boeing. Tuesday, Adani Aerospace and Embraer invited the media to a "historical" event in commercial aviation. According to the invitation, the announcement would be made in the office of India’s civil aviation minister. Adani Aerospace, Embraer and India's Civil Aviation Ministry did not respond immediately to comments. The Times of India reported the pact earlier. Star Air, a regional airline in India, operates 50 Embraer aircraft. The fleet is smaller than the Airbus or Boeing aircraft that dominate Indian airlines' order books. Embraer opened a New Delhi office last year and forecasts that South Asia will require at least 500 aircraft between 80-146 seats in the next 20-years. Aditya K. Kalra, Abhijith G. Ganapavaram, and Dhwani Pandya reported. Mark Potter (Editing)
-
Why is the Strait of Hormuz so important to oil?
The U.S. has warned Tehran to stop killing protesters and not restart its nuclear program in the face of Iran's most violent unrest for years. Analysts warn of a further escalation that could lead?Tehran, or any other country involved in oil exports, to try to close the Strait of Hormuz. Here are some details on the?strait What is the Strait of Hormuz? The Strait is located between Oman, Iran and the Gulf of Oman. It connects the Gulf of Oman in the north with the Arabian Sea to the south. The shipping lane is only 2 miles (3km) wide either way. Why does it matter? The Strait is responsible for about a fifth (or 5%) of all oil consumed in the world. Data from analytics firm Vortexa revealed that on average more than 20 million barrels per day of crude oil, condensate, and fuels were transported through the Strait in 2017. OPEC member Saudi Arabia,?Iran and the United Arab Emirates export the majority of their crude oil via the strait primarily to Asia. Qatar, one of the world's largest LNG exporters, ships almost all its LNG through this strait. The UAE and Saudi Arabia have been looking for other routes to bypass the Strait. The U.S. Energy Information Administration estimated in June of last year that existing UAE and Saudi pipelines have unused capacity of about 2.6 million barrels per daily (bpd). Fifth Fleet of the United States, based out of Bahrain, has been tasked to protect commercial shipping in this area. History of Tensions In 1973, Arab producers led by Saudi Arabia imposed an "oil embargo" on Western supporters who supported Israel's war against Egypt. While Western countries used to be the biggest buyers of Middle East crude oil, today Asia is the largest buyer, and the U.S. has become a major producer. In the Tanker War, which lasted from 1980 to 1988, both sides tried to sabotage each other's trade. In January 2012, Iran threatened a blockage of the Strait as a retaliation to U.S. sanctions and European ones. In May 2019, four vessels, including two Saudi oil tanks, were attacked near the UAE coast outside the Strait of Hormuz. Iran seized three vessels in 2023, and another in 2024. Some of these seizures were made after U.S. tanker seizures related to Iran. The U.S. attacked Iran's nuclear facilities last year. Iran was considering closing the strait. (Reporting and editing by Dmitry Zhdannikov, Ros Russell and Dmitry Zhdannikov. Additional reporting and editing by Marwa Rashed and Yousef Sabah; Additional reporting and Editing by Dmitry Zhdannikov, Ros Russell and Ahmad Ghaddar.
-
Investigators claim that a rail fracture occurred prior to the crash of a train in southern Spain.
In a report released on Friday, the rail accident investigation body CIAF stated that a fracture in rail appeared to have 'occurred' before a high speed train derailed last Sunday in southern Spain. In one of Europe's most deadly train accidents, a collision that occurred in Adamuz in the province of Cordoba on Sunday resulted in 45 deaths. First, a private train belonging to Iryo derailled and collided with a high-speed train coming from the?state owned rail company Renfe. The CIAF report posted on its website stated that "based on the information currently available, it is possible to hypothesize that 'the rail fracture' occurred before the Iryo trains involved in the accident passed and, therefore, 'prior to derailment. CIAF stated that the?causes of the breakage have yet to be determined and nothing has been ruled out. On Tuesday, I wrote that Investigators have identified Exclusive report on a broken joint in the rail track. The Transport Ministry didn't immediately respond to a comment request. Ferrovie dello Stato - the Italian state controlled railway group that owns Iryo - declined to comment. According to the report, investigators found uniform notches in several wheel treads on the right side of the Iryo. It was noted that the?marks were consistent if the wheels had struck the rail at its top. A visual comparison revealed?the wheel notches matched damage on the broken section of?rail found at the site of the derailment,' it said. CIAF reported that it found similar damage to the wheels of other trains that had passed through the region before the accident. CIAF warned that the findings of the report must be verified by detailed calculations and analysis.
-
Asia spot prices reach a nine-week high on lower winter temperatures
Asia spot liquefied gas prices rose for the second consecutive week, reaching a new nine-week peak as winter temperatures in the northern hemisphere dropped. The average price of LNG for March deliveries into Northeast Asia Sources in the industry said that it was estimated to be $11.35 per million British Thermal Units (mmBtu), an increase of?12.4% over $10.10/mmBtu from the previous week. This is its highest level since November 21. Klaas Dzeman, a market analyst with Brainchild Commodity Intelligence, said: "The weather was still the main driver of development, on one hand Asia is still cold in many countries, so heating demand will continue to be high." The cold weather conditions on the continent also increased the demand for heating. The LNG premium was still in Europe, and several vessels changed course to Europe. Ship tracking data revealed that at least two LNG tankers originally heading eastward diverted to Europe and Turkey during the last week. Toby Copson is the managing partner at Davenport Energy Partners. "Fundamentals are still weak, the market is long and the marginal heating demand has been absorbed by the water." Chinese are selling into this, so I do not expect high prices unless temperatures continue to remain for an extended time. On January 22, S&P Global Energy's daily benchmark price for LNG cargoes to be delivered in March, on a DES basis (ex-ship), was $11.622/mmBtu. This is $0.81/mmBtu less than the price at TTF hub. Spark Commodities rated the price for February at $12.44/mmBtu. Argus rated it at $11.76/mmBtu. Prices initially rose on the expectation of a 'beast of the east' cold front that would arrive at the end of the month, bringing cold air in from Russia. They have since continued to rise on the forecasts of cold weather for February as well as the possibility of a disruption of U.S. LNG imports, said Martin Senior. The market is bracing itself for a possible short-term drop in U.S. LNG imports this weekend due to?an extremely cold weather pattern that is sweeping across most of the Southern U.S. where U.S. LNG infrastructure is located. Seb Kennedy, an independent gas analyst, noted that hedge funds had executed "one of the largest repositionings in TTF's history" last week. They went from being net short to being net long during a short squeeze which sent prices to levels not seen since summer last year. He added that commercial operators stopped accumulating "length" and started selling aggressively into the rally. They were hedging their future sales by securing them at profitable prices. Qasim Afghan, Spark Commodities analyst, stated that the Atlantic LNG rates dropped further to $16,250/day. The Pacific LNG rates fell to $34,250/day. He said that the U.S. Front-month arbitrage via Cape of Good Hope to Northeast Asia closed further this week. He said that the JKM-TTF differential has continued to fall as JKM is unable to match recent TTF rallies.
-
Avolon, a lessor of aircraft, expects the wide-body shortage will last until 2030
According to Avolon, the aircraft leasing company, airlines will face a shortage in the long-haul large jets for the industry into the next decade. Avolon, a?leasing?company that is one of three Irish companies that owns and leases out around a sixth (or more) of all passenger aircraft in the world, stated that, although the shortage was less severe, it would still last until the end decade. Jim Morrison, Avolon's Chief Risk Officer, said that the narrow-body aircraft market would be undersupplied until the end of this decade and into the 2030s. The wide-body aircraft market could also face a long-term shortage. Delivery of wide-body vehicles is half pre-covid levels Avolon estimates that 4,000 jets less than originally planned will be built in this decade due to the COVID-19 outbreak and other production disruptions. Cirium data, cited by Avolon, shows that the delivery of 1,183 narrow-body aircraft last year fell just short of its pre-COVID high, while the 174 wide body aircraft deliveries were less than half their pre-pandemic level. The report by Avolon, which referred to markets outside the United States, said that "the structural undersupply" of wide-bodies would last longer than anticipated and be felt more acutely because international markets will continue?to grow traffic. The report stated that while China was the main market for aircraft in the past, it will be India, United Arab Emirates, and Saudi Arabia in the future. The shortage of parts has led to a bottleneck in engine repairs, and hundreds of planes have been left waiting for maintenance. The report stated that a fourth consecutive year of profitability, thanks to lower fuel prices will put the industry in an excellent?position to weather increased global uncertainty and the recession risk. Andy Cronin, CEO of Avolon, said: "We actually believe that the industry would be well-positioned to survive a period with lower economic growth for whatever reason." Conor Humphries, Tim Hepher and David Goodman contributed to the reporting.
-
Elon Musk's Starlink - A must-have feature for airlines or an expensive perk?
The social media feud between Elon Musk, the CEO of Ryanair and Michael O'Leary about the cost to install Starlink's WiFi has reignited an old debate in aviation. Who'really' needs internet on 30,000 feet and who's willing to pay for that? Video calls and seamless streaming have become a must-have for long-haul airlines chasing premium travellers who are rewarded with loyalty benefits. For budget and short-haul airlines, like Ryanair the economics are less compelling. Musk may call O'Leary an "utter idiot" because he refused to bolt Starlink onto Ryanair's 600+ jets. But the blunt-speaking Irishman, who built Europe's largest airline by squeezing every possible cost out of it, is almost certainly not. David Whelan is an analyst with Valour Consultancy. He said: "You would not expect to fly on Ryanair, and receive the same level of service as you would on a long haul flight." If you are only interested in running a solid A-to-B service at the lowest possible cost, it is not necessary to have WiFi. "A COST OF BUSINESS" Since years, some full-service carriers like British Airways have offered WiFi. The demand for premium travel has risen since the pandemic, and this combined with faster satellite links that are more reliable have led to a wider adoption. In the last year, Lufthansa and Scandinavian carriers?SAS and Virgin Atlantic signed up for Starlink, or their rivals Viasat, Intelsat, and Starlink. Ben Smith, CEO of Air France-KLM, said: "It is no longer a question, but a cost to doing business, especially on the transatlantic route and in the United States." "If you are looking to attract American clients, you can't do anything else but install high-speed WiFI. None. It's like a small hotel." Analysts say that Starlink's satellites in lower orbits are an advantage, as they reduce delays and enable continuous video calls and streaming. Anko Van der Werff recently signed up his airline to Starlink and said, "I think Starlink is gold standard." It's not cheap. Valour Consultancy’s?Whelan estimates that the cost of an aircraft will be around $170,000, depending on the airline. This is before hardware and installation. Long-haul airlines could use the investment to implement a "freemium strategy" - premium passengers would get free access and everyone else would be encouraged to join loyalty programs. Whelan added that Starlink is helping to drive this trend. Starlink's owners SpaceX have not responded to a comment request about pricing. RYANAIR: OUR PASSENGERS WILL NOT PAY Cost-benefit analysis for low-frills and short-hop airlines looks very different. O'Leary claims that WiFi antennas increase weight and drag on planes, which increases fuel costs. Musk responded on X by saying that the drag is negligible?and made a sarcastic threat to replace Ryanair's CEO with himself. O'Leary is sceptical, however, that price-conscious travelers would even pay a modest fee?of 1-2 euros ($1.20-2.40), especially on short flights. O'Leary said to reporters that "our experience tells us, sadly, we think less than 10 percent of our passengers will pay for this service, and we therefore can't afford the cost of $150 or $250 millions a year." The only way that we could see Starlink on our aircraft for short-haul flights working is if it was given away free of charge.
-
Boeing orders will increase US Commerce-assisted contracts to $244 billion by 2025.
Boeing's massive increase in jetliner orders led to a nearly three-fold increase in foreign government contracts in 2025, according to the International Trade Administration of the U.S. Commerce Department. The ITA stated that the 121 agreements, which were also?aided by foreign spending commitments made in recent trade agreements negotiated by Trump's administration, will support approximately 844,000 American job and contain around $206 billion of U.S. Export Content. In 2024, during the final year of the Biden Administration, ITA signed $87 billion worth of contracts, a significant increase from the COVID era low of only $17 billion that was reached in 2021. The 2025 jump is due to a huge increase in Boeing net orders, which jumped from 377 in the year 2024 to 1,075 in 2018. Boeing's 2025 order year was its sixth best ever, and it surpassed arch-rival Airbus for the first seven years. According to the Trump administration's estimates, Boeing planes and GE Aerospace engines accounted for $215 billion, or $187 billion, of ITA-assisted contracts in 2025. Total included a record contract with Qatar Airways to purchase up to 210 widebody 787 or 777X aircraft, valued at $96 Billion including engines. Kelly Ortberg, Boeing's CEO, signed the contract with Qatar's Emir Tamim Bin Hamad Al Thani and President Donald Trump during Trump's May visit to Doha. Trump boasted about being the "greatest Boeing salesman ever." The total aircraft also includes a deal worth?at least $50 billion with Korean Air Lines, which was billed as a part of an U.S. Trade and Investment deal with the Asian Exporter that included reduced tariff rates and $350 billion other investments. Estimates of the value of announced aircraft orders often are based on the list price. However, the final sale prices can vary greatly depending on a variety factors such as customer loyalty and size, timing for delivery, long-term agreements on maintenance, order volume, and terms for escalating materials costs. Planemakers receive most of their money when the jets are delivered. Boeing won't see the majority of these?orders for several years, after Trump's presidency ends in 2029. Commerce Department totals include only signed contracts. Therefore, a number preliminary Boeing purchase commitments made last year by Malaysia and Bangladesh as part of the trade negotiations will likely be included in the 2026 totals if they are finalized. Howard Lutnick, Commerce Secretary, said in a press release that "We are laser focused on promoting manufacturing, investment and new opportunities for American workers and companies." "While 2025 marked a historic moment, it was only the beginning. We will continue to usher a new era in American manufacturing and prosperity." The ITA Assistance Center?advises firms on bidding for government contracts abroad and arranges meetings between high-ranking U.S. official and foreign decision makers to promote American companies, marshalling resources from different U.S. agencies. The ITA reported that Wabtec, a U.S. locomotive manufacturer, signed a $4.2billion contract in September to supply 300 heavy haul locomotive kits to Kazakhstan after a campaign of advocacy which included a telephone call between Trump's and Kassym Jomart Tokayev's. ITA reported that the Wabtec deal was its largest ever foreign sale and is among $8.3 Billion in global infrastructure projects and supply chains won by U.S. firms in 2025. The total of $244 billion includes contracts in the energy, defense, and technology sectors, such as AI, cybersecurity, healthcare, and fintech.
Kyiv Zoo fights to keep the animals warm while city suffers power outage
The staff at Kyiv Zoo work around the clock in freezing temperatures to keep Tony, the 'gorilla' and other animals warm.
Kyiv Mayor Vitali Klitschko reiterated his call to citizens on Friday, urging them to find temporary shelter outside of the city due to fears about further strikes. Tony, 51, and the other residents of the zoo who have suffered for so long are not able to leave.
Kyrylo Trantin, the zoo's chief, said that he could not tell Tony to go to rural Ukraine.
"He does not have a grandmother in the country... where he can stay."
Five times per day, staff bring firewood to the 'constantly burning stove' to maintain a comfortable 20 degrees Celsius in the primate cage.
In recent weeks, repeated Russian air attacks on Ukraine's power system have left millions of people in Kyiv as well as other cities in darkness and cold for sometimes long periods.
Water supplies have been disrupted as well by emergency outages worsened even further by temperatures as low -18 degrees Celsius.
Generators are used to heat animals at the zoo. These include horses, bison, and elephants.
Viktoriia sluzhenko, a zoo staffer, said that the zoo has enough water to cover the elephants' daily needs of 150 litres.
She said, "We fill up the tanks constantly so that we can live in autonomy mode for three days."
Trantin said that the responsibility of keeping animals alive is a burden on staff who are also preoccupied by their own survival. The war in Russia, which has been going on for four years, shows no signs of ending.
Trantin continued, "Everyday is a fight for warmth and strength." (Writing and editing by Gareth Jones, Dan Peleschuk)
(source: Reuters)