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In Thailand, a freight train collision with a bus has resulted in at least eight deaths and 32 injuries
Rescue officials and the deputy transport minister reported that at least eight people died and 32 others were injured after a train struck a bus in Bangkok and ignited a fire. Officials said that firefighters and rescue crews responded to the incident as fires consumed the bus and vehicles nearby near the Airport Rail Link station in Makkasan. They added that the crash involved motorcycles and cars. According to preliminary reports, the bus was stopped "on the tracks" at a red signal, which prevented the crossing barriers from closing. Deputy Transport Minister,?Siripong, Angkasakulkiat, told reporters that the preliminary reports indicated the bus had been parked?on the track?, and therefore, prevented the crossing barriers from being closed. He added that the train, which was carrying containers, could not stop in time to prevent colliding with?the bus. Eight people died and 32 were injured. The wounded are being treated at various hospitals. "All eight of the dead were on that bus," he stated. Social media videos showed the train dragging several vehicles and the bus along the tracks. The bus was stuck in a red-light situation, and so couldn't move. Wanthong Kokpho said that cars were also "blocked" and could not move forward. The fire broke out immediately. The damage would have been worse if this was a normal workday. Officials said that rescue teams pulled injured victims out of the wreckage while fire crews battled with water hoses. They said that the fire had been brought under control and that crews were cooling down the area and venting gas while continuing to search for survivors. Authorities are investigating what caused the incident. According to the World Health Organization (WHO), Thailand's roads are among the deadliest in the world due to a lack of enforcement of safety standards. Reporting by Orathai Shriring, Panarat Thepgumpanat, and Tananchai K. Keawsowattana. Editing by Louise Heavens & Joe Bavier
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One dead in Comoros as clashes erupt over rising fuel prices
By Abdou Moustoifa MORONI, 16 May - Five people were injured and one person killed in clashes between protesters on the comorian island of Anjouan and security forces, as unrest over fuel price increases spreads throughout the archipelago. The prosecutor stated in a Saturday statement that the Public Prosecutor's Office of Mutsamudu informed the public about a tragic incident which occurred in Anjouan in the Mpage region, and resulted in the death of a person, as well as five other injuries. After a meeting with the mayor of Mirontsy, and the 'fishermen association' which had been on strike since Wednesday in protest at rising fuel prices, there were clashes. In Mutsamudu (the capital of Anjouan), roads were blocked by stones. A judicial investigation was opened to determine what caused the death. The unrest is a result of a wider strike that began on Monday, after the government increased gasoline and diesel prices by 46% each. Citing the "Middle East" conflict as the reason for the increase. The strike by transport workers and shopkeepers has paralysed the public transportation system in Moroni. According to the National Human?Rights?Commission,?39 people were detained since the beginning of the strike. In an effort to reduce tensions, the government announced "cuts" to official travel and a reduction of 40% in customs fees. (Reporting and editing by Abdou Moostifa)
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The rising cost of diesel fuel from the Iran war is straining US school budgets
The rising cost of diesel since the onset of 'the Iran war' is draining budgets already stretched by U.S. schools districts. It makes it expensive to transport students and run generators. Schools from Yakima Washington to Waco Texas are using emergency funds reserves to keep buses running. Interviews reveal that officials in remote Alaska are scrambling to secure enough fuel to run the lights. Trevor Greene, Superintendent of Yakima said: "It is more than a straw on a camel's...back. It's like a big haystack." The U.S. and Israeli war against Iran has had many knock-on effects, including the disruption of around one-fifth of world oil supplies. Fuel prices have risen at the fastest rate ever since the beginning of the war in late February. This spike has impacted economies all over the world. The spike has been so painful in the U.S. that it is a liability for Donald Trump in November's midterm elections, when the Republican Party is trying to hold onto a slim majority in the U.S. Congress. According to the American School Bus Council, U.S. bus operators consume more than 800 millions gallons of diesel per year. According to a new analysis by Samsara, a fleet management software provider, the cost to operate school buses in the United States has increased 67% since December. This is equivalent to an annual increase of $1.8 billion. James Rowan is the executive director of Association of School Business Officials International. He said that while districts can budget for higher costs in advance, the rapid swings in price make it difficult to do so accurately. "Even districts who have been able absorb costs through temporary measures or reserves this year may not have the same flexibility in the future." A survey of 188 U.S. School Districts, commissioned by AASA, and conducted in the week of May 4, revealed that close to a third are taking money from other funds to pay for their higher fuel costs. According to the survey results, school officials are looking for ways to cut costs. They consolidate bus routes, enforce anti-idling, change fuel buying practices, delay maintenance, and reduce administrative expenditure and staffing. "TREMENDOUSLY UNDERFUNDED" Yakima School district executives in Washington State said that the price of diesel they pay has recently increased by 64% on an annual basis to $6.30 per gallon. Greene said that at this price, the district's 60 buses would require an additional $213,000 in fuel costs per year. This is roughly equivalent to the salaries of two teachers. That is a big burden in an agriculture-dominated school district that has a poverty rate of 86%, and which is already "tremendously underfunded," he said. Jacob Kuper, district CFO, said that the district will instead buy its 30,000 gallon diesel tank in small quantities on days of low prices, rather than filling it. This is because it's "limping through the end" of the year. Christopher Mills of Thief River Falls Public Schools, in northwestern Minnesota said that diesel costs associated with transporting up to 800 students have increased around 30% since Iran's war began. Mills stated that the district was working to minimize direct impact on classrooms. "But if prices continue to rise, we may be forced to reduce support services for students." Even oil-rich Texas schools have not been spared. Waco Independent Schools District, which has over 80 buses, and average round-trip routes of 60 miles per day on average, reported an increase in diesel prices by 84% in early April. PRESSURE-PACKED Yupiit school district in Southwestern Alaska uses diesel generators to power the community and classrooms, not buses. Scott Ballard, Superintendent of the Yupiit District School Board in Akiachak, said during a phone interview that if they couldn't produce electricity then we wouldn't be able to run our school. The district, which has 550 students in it, is icebound most of the time, leaving a small window for fuel purchases. Ballard explained that leaders are now faced with a tough choice: Do they lock-in a price nearly 66% higher than the previous year, or do they gamble on prices falling? We're under a lot of pressure. Some of the biggest school districts in the United States are partially protected from fuel price fluctuations. Paul Quinn Mori is the president of the New York School Bus Contractors Association. He said that the district in New York City, which has the largest population in the country, outsources approximately 60%?of pupil transport. This arrangement often transfers fuel price changes from the district to the contractors. Los Angeles Unified, the second largest school district in the country, has been moving towards diesel-powered vehicles for many years. A district spokesperson revealed that 70% of its 1,300 bus fleet runs on batteries or alternative fuels. A spokesperson stated that "rising diesel prices continue impacting Los Angeles Unified’s transportation budget. However, the district has taken active steps to reduce dependence on fossil fuels by investing in clean transportation." (Reporting and editing by David Gregorio; Lisa Baertlein)
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In April, Iraq exported 10,000,000 barrels of crude oil through the Strait of Hormuz.
Basim Mohammed, Iraq's new Oil Minister, told a?press?conference on Saturday that the country exported 10 million barrels?of?oil via the Strait?of Hormuz?in?April. This is down?from 93 million barrels per month before the Iran War. Oil prices have risen sharply since the Iran war closed the 'Strait of Hormuz. Iraqi crude oil exports via the Kirkuk-Ceyhan pipeline resumed in march, after Baghdad agreed to restart the flow. Mohammed said: "We currently export 200,000 barrels via Ceyhan, but we plan to increase that to 500,000 barrels". Iraq 'plans to engage OPEC in order to boost its production - and export capacity. 'The minister stated that Baghdad aims at a?production capacity of 5 million _barrels a day.
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New York's Long Island rail strikes halt the busiest commuter route in US
A union statement said that about 3,500 workers from the New York Long Island Rail Road (LIRR), who failed to reach an agreement on wages, went on strike Saturday. This halted the busiest commuter train system in the United States. The Long Island Rail Road is operated and owned by the state’s Metropolitan Transportation Authority (MTA). It serves nearly 300,000 passengers per day. In a press release, the International Brotherhood of Teamsters union stated that a group of five unions had launched a strike. This was 'the first strike in 32 years. The union said that the workers went three years without receiving raises in the course of the bargaining. Mark Wallace, President of the Brotherhood of Locomotive Engineers & Trainmen, said: "This strike wouldn't have happened if MTA and LIRR had offered our members the terms that the government repeatedly recommended." We hope LIRR takes action soon to prevent further?disruptions of hundreds of thousands New Yorkers. When they are ready, they know where to find us: on the street. After the unions requested that he intervene, President Donald Trump signed an executive order in January to appoint another emergency?board for mediation to avoid a stoppage of work at the Long Island Rail Road. Trump had initially named a board to end the labor dispute in September of last year. (Reporting and editing by Tom Hogue in Bengaluru, Mihika Sharma, Shubham Kalya)
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Berkshire purchases Delta and Alphabet, while shedding Amazon, UnitedHealth Visa, Mastercard, and Visa
Berkshire Hathaway announced a $2.65 billion investment into Delta Air Lines on Friday, as well as a small stake in Macy's. It also said that it had sold many of its smaller stock holdings such Amazon.com and UnitedHealth Group. These changes were made as part of the portfolio reshuffle that took place in the first quarter following the promotion of Greg Abel, who succeeded Warren Buffett at Berkshire. Berkshire announced in a regulatory filing that they also tripled their stake in Alphabet (parent company of Google), which is now one of the largest investments in common stocks. Berkshire has also increased its stake in New York Times to 9%. The filing included a list of?Omaha-based Berkshire’s U.S. listed stock holdings at March 31. This represented?most? of the $288 billion equity portfolio. Berkshire purchased $15.94 billion in stocks and sold $24.09 Billion of them between January and March. Abel is likely to have been the one who directed the majority of stock sales. According to previous disclosures, Abel inherited the equity portfolio of Berkshire, including that of Todd Combs. Combs was a Buffett protégé who joined JPMorgan Chase in December. Abel stated in February that he managed 94% of Berkshire stock holdings while Ted Weschler, the investment manager, handled 6%. Berkshire held an 11% stake in Delta Airlines, but sold it along with similar percentage stakes in American Airlines, Southwest Airlines, and United Airlines early in the pandemic, in April 2020. Buffett stated at the time that the aviation industry had undergone a "world-wide change". Delta is considered to be one of the best-run U.S. large airlines. After-hours, its shares rose by 3.2%, likely reflecting the 'approval stamp' that investors perceive from Berkshire. The Atlanta-based carrier did not immediately respond to a comment request. Macy's stock also gained a boost after-hours, with a 5.9% increase following Berkshire's announcement of a stake in 3 million shares worth $55 millions.
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Carney announces Alberta Carbon Pricing Deal that could pave the way for new oil pipeline
Canada's Prime Minister Mark Carney and Alberta's premier on ?Friday signed a deal on industrial carbon pricing, ?part of a broader agreement meant to pave the way ?for ?construction of a 1-million-barrel-per-day crude oil pipeline to British Columbia's northwest coast to start by September 2027. Calgary's deal will raise the cost of carbon credits in Alberta's industrial market from C$95 to C$130 (94.59 USD) per metric ton in 2040. This is a measure to give oil companies a financial incentive for reducing pollution. It is unlikely that it will satisfy oil executives, who are concerned about the impact of any industrial carbon pricing on the industry, especially since the United States does not have a carbon price. Carney was in the city of oil and gas for the first time since November when he met with Alberta Premier Danielle Smith to discuss a plan to increase investment, including funding a new pipeline. Carney said that Canada's carbon markets and incentives to boost?low-carbon oil output will attract the private sector. He said, "I believe there will be a great deal of interest." U.S. COMPETITION WORRIES Alberta frozen its headline industrial carbon prices in May 2025. It cited the need to "keep its companies competitive" in light of the threat that President Donald Trump's Tariffs pose. Alberta's carbon credits trade between?C$20 to C$40 per metric ton. Environmental?experts claim that this is too low a price to encourage polluters into investing in technology to reduce emissions. The plan announced on Friday includes an escalating carbon floor price to ensure that Canada's major emitters are continually encouraged to reduce their emissions. Alberta's carbon price will increase from C$100 to C$130 per ton in 2020, then by 1.5% each year beginning in 2036. Environmentalists had called for a faster timeframe. Tim Weis is the director of industrial decarbonization for Pembina Institute. The 'deal' ensures that Alberta will raise its carbon price in time, as other provinces must do. This is a condition Carney had set before he would allow his government to fast-track a new crude oil export pipeline. For the first time, the agreement provides a start date for a new crude export pipeline if governments meet their legal obligation to consult Indigenous People. Alberta plans to submit a proposal to build a second West Coast oil pipeline by July 1, according to the province. HURDS REMAIN Carney and Alberta agreed that a new pipeline would be contingent upon the oil industry building an carbon capture and storage project. However, under the agreement, the project could be phased-in over time, and the resultant?emission reductions would be less than what the companies who originally proposed the proposal pledged to achieve in 2022. The Oil Sands Alliance, which is made up of Canada's largest oil sands companies, has refused to pay for the carbon capture project. The group said on Friday that it did not support changes to Alberta's carbon tax system. British Columbia, as well as any First Nations that might be affected by this route, would have to approve of the pipeline. B.C. Premier David Eby has said that his government will not allow the oil tanker ban to be lifted off the northwest coast of B.C.
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FAA reduces target for air traffic controller staffing
Federal Aviation Administration (FAA)?said on Friday that it would be reducing its target of?air traffic controller staffing. It also pledged to modernize the scheduling system and increase the amount of time employees spend managing traffic. The FAA announced that it has lowered its target to 12,563 certified air traffic controllers from 14,633. According to a National Academies of Sciences study published last year, overtime costs for air traffic control have increased by over 300% in the past two years, reaching more than $200 million. The report cited a misaligned workforce and an inefficient schedule. According to the report, 'the time controllers spent on managing air traffic from their positions has decreased despite a 4 percent increase in traffic. The report said that it was possible to increase the time spent on position per shift from four hours to more than five. The FAA stated that "modern staffing models and schedule tools will improve the efficiency of controller staffing and reduce the need for excessive overtime." As of April, the FAA reported that approximately 11,000 controllers were 'certified' and deployed in?more than 30 FAA air traffic control facilities. An additional 4,000 controllers were in training, including 1,000 controllers who had previously been fully certified but are now undergoing training at new facilities. The FAA stated that it will "modernize its scheduling and workforce management system to improve efficiency." In 2024, the FAA's air traffic control workforce will have logged 2.2 millions hours of overtime at a cost of $200 million. The average annual overtime for air traffic controllers has increased by 308%, or 126 hours since 2013. The report stated that from 2013 to 2023 the FAA only hired two-thirds the number of air traffic controllers required by their staffing models, as the staffing dropped by 13%. It also said the FAA has been unable to implement the robust shift scheduling software it purchased in 2012. This may have made the problem worse. In'many places, controllers are often required to work six-day weeks with mandatory overtime. FAA Administrator Bryan Bedford stated in December that the FAA had lost between 400 and 500 trainees who withdrew during last year's government shutdown. Reporting by David Shepardson, Editing by Chizu nomiyama
Oil companies compete for projects that will boost Venezuelan production quickly. A real grind is in store
A rig that drills wells in shallow water completed its long journey from China to Venezuela’s oil-producing Lake Maracaibo region. Residents and workers were excited to see the passage of a big old rig called Alula, which passed just inches below a bridge that connects Maracaibo with the oilfields on the eastern shore of Lake Maracaibo. This was due to U.S. sanctioned.
The rig struck an oil pipeline while it was passing through the lake, and also over the metallic spaghetti that was 20,000 kilometers worth of pipes below the water. The oil leaked out for several months before repairs were made. It was only last year that the rig was installed in the polluted water. Since then, the crude production has increased only modestly.
The Alula's story is a cautionary one for foreign energy companies, such as U.S. major oil company Chevron, that want to expand quickly in Venezuela and undertake short-term projects to boost the country's output of oil. Every step forward brings with it a whole new set of challenges.
Maurel&Prom, ENI of Italy, Spain's Repsol and China National Petroleum Corp. are also foreign companies that have a foothold in the country.
Donald Trump has asked American companies to invest $100 billion in rebuilding the oil industry, which was neglected for 20 years by socialist presidents Hugo Chavez & Nicolas Maduro. Washington has eased sanctions since its early January military invasion to snatch Maduro by issuing a few general licenses to energy companies that allow them to invest, export, and import oil and gas in the OPEC-member.
Two executives of companies with assets in the country said that early expansion could result in a crude oil output increase by as much as half a million barrels per day (bpd). The current production is 1,000,000 bpd.
The U.S. Secretary for Energy Chris Wright stated this month that he expected to receive a positive response from Venezuela.
"dramatic increase"
Venezuelan production is expected to increase in the next few months.
Houston, the U.S. capital for oil, and Venezuela's oil regions are a buzz, mobilizing to take part in the largest repair job ever undertaken by the energy sector. This is a massive undertaking comparable to the work undertaken to increase Iraq's oil production following the second Gulf War, or to restore the Kuwaiti oilfields that Saddam Hussein had set ablaze. According to a half dozen industry workers and oil employees who have experience in Venezuela, as well as executives planning to move there, along with numerous industry experts, analysts and other industry professionals interviewed for this article, the first phase of the project in Venezuela will involve relatively simple projects that can increase oil production quickly. These include refurbishing dilapidated oil wells, upgrading crude oil upgraders which are not working at full capacity, and repairing the ports and pipelines owned by the state oil company PDVSA. Even the "easy" projects, according to the experts, are difficult, and the rest of the work will be even more challenging. A reporter touring the Lake Maracaibo region in early February saw oil industry junk. Tanks overflowing with oil, abandoned oilfields. Blackened shorelines. And long lines of cars waiting to buy gasoline near storage terminals. The squalor and soiled shorelines, abandoned oilfields, tanks overflowing with crude, and long lines of vehicles waiting to buy gasoline near storage terminals or PDVSA operational sites were visible reminders that much work remains, even for what could be considered the "low-hanging fruits" in a region which is home to Venezuela’s oldest production facilities, as well as having the second largest output capacity.
The first step that companies anticipate is to implement projects such as the one planned by China Concord Resources Corp., which brought the Alula drilling rig to Venezuela in 2017. The company wants to increase the combined light and heavy oil output from two fields from 16,000 bpd to 60,000 bpd this year through a $1billion program. This would require refurbishing up to 875 inactive rigs before drilling new wells. A source with the project stated that the company is currently addressing many unplanned problems, including insufficient gas supply to maintain pressure on wells and the loss of technical data.
After Trump stated that companies from U.S. political rivals - China and Russia - are no longer welcomed in Venezuela, it is not clear if the project will go ahead. Companies from these countries were the only ones willing to work in Venezuela under sanctions.
Chevron, on the other hand, has been the sole U.S. oil major to produce crude in the United States for many years and is now in a prime position?to make early gains. The company is in a race with its rivals for supplies of the light crude produced by China Concord.
Energy companies in Venezuela are able to make a profit by importing fuels and light oil that can be used to dilute Venezuelan tar-like crude oil. The country's vast reserves of extra-heavy crude oil cannot be exported or transported without expensive upgraders and diluents. Foreign oil companies are more interested in producing barrels that are relatively simple to produce than those produced by PDVSA, who has ignored these regions for decades to focus on the Orinoco Belt and its heavy-oil wealth. Former employee of the Venezuela operations said that oil from Maracaibo would be more cost-effective for Chevron, as it doesn't need to be treated prior to export. This is especially true when crude prices are low. The former employee stated that other options included reopening wells closed due to lack of power or specialized equipment, reconditioning wells with low output to increase production, and drilling new ones.
Chevron stated that it has "been a part in Venezuela's history and remains committed to work in partnership for the future of Venezuela." It also added that it welcomed recent U.S. licensing and legal reforms.
PDVSA and the oil ministry of Venezuela did not respond to requests for comments. China Concord was not immediately available for comment.
HEAVIER ORINOCO CRUDDE Oil companies with stakes in projects and oil contracts across the country are vying for access to specialized machinery already present. There are up to 14 drilling rigs that have been in storage for years in Venezuela and are owned by Houston-headquartered SLB, one of the top global oil service providers, three sources with knowledge of its assets said. SLB is the main service provider for Chevron, since 2024 when it started its latest drilling program in Venezuela as part of an earlier U.S. wide license. SLB, like the U.S. giant, has a long history in Venezuela. SLB's rigs in Venezuela were used for PDVSA-related projects before the U.S. sanctions of 2019. U.S. companies, and those who adhered to U.S. sanctioned, could no longer operate rigs in Venezuela.
SLB says it has operational facilities, staff and equipment in Venezuela and is "in the early stages of collaboration" on next steps with customers. We are confident we can quickly ramp up operations under the right conditions.
The vast Orinoco Belt is in dire need of drilling and workover rigs, as the output usually involves clusters of wells. Diluents for blending with extra-heavy crude may be needed more urgently to reduce oil inventories that have accumulated over the past few months and to boost exports. Chevron, along with other PDVSA partners, is focused on securing the drilling equipment and access to crude upgradingrs as well as light oil and naphtha for blending. The U.S. firm would also have to renovate PDVSA-owned infrastructure, such as the Bajo Grande Export Terminal. It would also have to dredge a shipping channel on Lake Maracaibo, which hasn't been done for years due to sanctions that prevented companies from hiring dredges. Chevron would need to overhaul its Petropiar Project's upgrader in order to increase production at Orinoco. This converts the extra-heavy crude into exportable grades. Two Chevron sources also said that the facility hasn't been fully repaired in years.
Five projects, out of more than 40 joint ventures between PDVSA, foreign and local companies and other oil companies in Venezuela, have upgraded or blended the Orinoco extra heavy crude. This region holds over 80% of Venezuela's estimated 303 billion barrels worth of crude reserves. Without upgraders, companies would be forced to import expensive diluents in order to export barrels. This would lower their profits and also present logistical problems due to Venezuelan limitations on discharging and transporting them.
North American Blue Energy Partners has been working on repairing a PDVSA rig for the Orinoco Petrocedeno Project for several months. The company has close ties with American asphalt magnate Harry Sargeant. Two sources said that completing the repairs would allow the equipment to be brought online quickly.
North American Blue Energy Partners didn't immediately respond to a comment request.
Thomas O'Donnell is an independent energy analyst who says that many Venezuelan oilfields which are written off as being depleted still have significant production capacity.
"Many of the plants that were said to have died or been depleted are not actually depleted." He said that PDVSA lacked the skills or equipment to continue running these fields and cherry-picked them.
O'Donnell pointed out mature fields, where seismic surveys using 2D technology were last conducted in the early 1990s and the late 2000s. He said that companies could make substantial gains if they brought up-to-standard fields which were already in operation. This could result in "maybe a 50 or 100 percent increase over what is coming out currently."
LEGAL RISK REMAIN
A Venezuelan oil company executive, who spoke on the condition of anonymity and has worked there, stated that the country's overall production could reach 1.5 million bpd in less than a calendar year, if oil producers obtain the necessary licenses.
Venezuelan oilfields, he said, are "very forgiving. You can increase production a great deal," referring the abundant reserves. The executive did add that there are still supply chain problems and security issues, especially around Maracaibo.
Executives also pointed out that there was still legal uncertainty, since it is not possible to guarantee that agreements made now will be honored by future governments. Venezuela's National Assembly approved in January a comprehensive oil reform that gave autonomy to foreign companies. However, some new contract models, which had been initially promoted by Maduro without much success, are still seen as risky by potential investors. The legitimacy of the passed reform is also questioned from a constitutional perspective. The U.S. and other countries have refused to recognize the results of the rigged parliamentary and president elections in the past.
Investors should also be aware of the possibility that future U.S. government may ease pressure on Caracas and allow it to regain control over oil exports and revenues.
According to a worker who has worked in the area for 22 years, the amount of investment needed will be huge. The worker stated that many companies have the ability to fix the problem, but the willingness to do so will depend on how they react once they see the disaster.
(source: Reuters)