Latest News
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Officials say that two explosions have hit a cargo ship in the Gulf of Iraq.
Iraqi officials reported on Monday that two explosions hit a cargo ship in the Gulf, about 40 nautical miles southeast of Iraq’s Umm Qasr. One of them was caused by an attack from a drone. The United Kingdom Maritime Trade Operations (UKMTO), earlier, said that the vessel was 'hit by a projectile on the starboard side, causing a huge explosion. According to the Iraqi officials, a second explosion occurred on the same vessel, and it was the result of a drone attack. They added that the fire on board was brought under control later. As we assessed the damage from the first blast, we heard the drone hovering above, followed by a powerful explosion that ignited a fire on the tanker," said an Iraqi member of the maritime patrol. The identity of the vessel was not known and no one has claimed responsibility.
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U.N. chief says it is still too risky for seafarers to leave the Gulf.
The head of U.N.’s?shipping agency stated that despite the current ceasefire, it is still too risky to move 'thousands' of sailors trapped in the Gulf. "We won't be able to do anything until the root causes of the conflict are addressed, and a more final agreement is reached, a complete agreement or a ceasefire between the parties in the conflict," Arsenio Domingue, Secretary-General of the International Maritime Organization said on Sunday, ahead of Posidonia Shipping Industry Week in Athens. Iran has imposed restrictions on the movement of vessels through the Strait of Hormuz, resulting in a 20,000-strong seafarer stranded. Dominguez stated that it would be risky to move seafarers in the interim, as there were no guarantees of their safety. According to IMO, eleven seafarers were killed in the Gulf since the U.S. Israeli war against Iran began on February 28. In recent weeks, the IMO has been working to 'arrange a safe sea corridor for vessels to leave, including talks with parties involving Iran, Dominguez stated. "You hear announcements saying that the Strait of Hormuz was open and then, a few minutes later, it is closed. He said that we can't risk anything until something more secure is in place. The strait is normally used to transport 20% of the daily crude oil and natural gas supply in the world. The number of tankers has been reduced to a few. After three months of being stranded on a ship, operators claim that crews require a safe, negotiated way out. "The seafarers are missing out on not only seeing their family but also on births and deaths,?on weddings," Pankaj Khanna said on a sideline of a Capital Link Shipping Conference in Athens. Heidmar's vessel has been stuck in the Gulf of Mexico for three months. "We need a framework, rules, regulations, or whatever else tells us how to enter and exit." Even if the peace agreement was signed, it is important to clarify this. (Reporting and editing by Jason Neely; Renee Maltezou, Jonathan Saul)
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Mandelson documents shed light on government activities, including the appointment of US Ambassador
The British government released documents about the appointment of Peter Mandelson to be ambassador to the United States on Monday, giving a glimpse of the sometimes acerbic Westminster world and the messy clearance process for his?job. The Mandelson saga has been a focal point for critics of Britain's Prime Minister, who is fighting to survive his political career against a possible leadership challenge. The government has released 1,504 pages of messages, ranging from emails to WhatsApps. It hopes that this data dump will distract attention away from Starmer and prove Mandelson was not completely honest about his relationship with the late convicted sexual offender Jeffrey Epstein. MANDELSON : "YOU WILL NOT REGRET" THE APPOINTMENT In a?document the government stated that it had written Mandelson on March 31, requesting any information on his personal telephone as part of an investigation into his work and appointment - which he refused to give over. Mandelson, who was twice removed from the cabinet by Labour's longest serving prime minister Tony Blair, is often seen chatting with Labour insiders and pressing his case, sometimes even criticizing the government. Mandelson wrote in a handwritten letter to the then-foreign Minister David Lammy, dated November 18, 2024: "I wanted you to be aware that I would do everything possible to ensure you didn't regret your decision to appoint (me) as ambassador." He said that he was "tonto", a slang word for crazy, over the failure of the government to approve an individualized red ministerial gift box to be given to U.S. president Donald Trump. He also took aim at Starmer by telling Pat McFadden, senior minister of the UK, that he thought "Keir was not leading from the front". McFadden said that Mandelson was asking the "wrong questions" at every meeting, saying it was all about "whom can we tax to pay benefits to others?" The government hopes that the release of these documents and Epstein's messages will end any questions about Starmer’s judgement in appointing someone whose friendship was well-known. They are unlikely, however, to stop calls for the Prime Minister to resign after Labour's loss in local elections last month. Mandelson is being investigated by the police for allegedly passing government documents on to Epstein, who died in 2007. He is not facing allegations of sexual abuse. In March, an initial batch of documents were released, showing that Starmer had been warned about the dangers of the appointment. This was not only because of Mandelson's connections to Epstein, but also?because the Labour veteran supported closer ties with?China. Starmer could face a leadership challenge in the future if Andy Burnham, Greater Manchester's mayor, wins a seat at parliament in the upcoming election on June 18. Reporting by Elizabeth Piper; editing by Kate Holton, William James, and Andrew Heavens.
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Ship operators call for clear rules to restore normalcy to Hormuz
Shipping executives met in Athens, Greece on Monday and said that any deal reached between the United States of America and Iran must include clear rules allowing ships to return to normal operations through the Strait of Hormuz. Shipowners, maritime officials and other events were held at the Capital Link Conference and other events to kick off Posidonia. This biennial week-long shipping exhibition is a biannual event. The following are selected quotes in alphabetical order: ARSENIO DOMINGUEZ SECRETARY GENERAL, INTERNATIONAL MARITIM ORGANISATION "There were... recent announcements about the possibility of a sixty-day ceasefire. The evacuation framework will kick in immediately if I am able to get assurances from the countries about the safety of using the Strait of Hormuz and if the countries can confirm that the waterway is safe. We're always looking for a solution, as the first "objective" is to get seafarers to leave the conflict area. PANKAJ KHANNA PRESIDENT, HEIDMAR HOLDINGS COMPANY "We need a framework. A rules regulation. Whatever tells us how to get in and out. Even if there was a signed peace agreement, it is still unclear and we do not know the details. Khanna noted that the company's vessel was stuck in the Gulf for three months and noted its impact on seafarers. "Obviously, the seafarers are missing out on not only seeing their families, but also on births on?deaths on marriages." VASILIS KIKILIAS - GREECE’S SHIPMENT MINISTER Can anyone predict the end of the conflict? Unfortunately, no... Conflicts can be very messy and difficult to resolve. "We hope, of course, there will be a resolution. We can't accept that ships will not be able to travel freely around the world. I would like to see the global shipping trade, seafarers and the shipping industry left out of the equation. But, it seems impossible. EVANGELOS MARINAKIS FOUNDER AND CHAIRMAN OF CAPITAL MARITIME & TRADE CORP "We are all in agreement that the war must end, and it should have ended yesterday. Even if... consumers pay the price around the world." "On the contrary,..from the evidence we have seen, we can wait two weeks, or even one month, if we feel that the final agreement is good for us all... and will make us confident in the future. "I'm quite optimistic that after a few weeks or months, a solution would be found." GEORGE Procopiou, FOUNDER - DYNACOM TANKERS MANAGEMENT, DYNAGAS, AND SEA TRADE Freedom of navigation is important and no one can impose any burdens, including tolls. Since antiquity, Greece has broken blockades. YIANNIS Procopiou,?CEO of CENTROFIN MANAGEMENT "While insurance is available, this does not mean the strait would be a good place to transit, at least until the shipping industry has clear rules on how to deal with both nations involved, the U.S.A. and Iran... That's a high-risk proposition right now."
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Sources say that Volgograd's oil refinery in Russia has halted processing following the May 29 drone attack.
Two industry sources reported on Monday that the Volgograd oil refinery, owned by Lukoil, in Russia's south, had suspended oil processing after a sabotage attack from Ukraine, which resulted in fires and damage. Peace talks to end the Ukraine war have stagnated. Last week, the local governor reported that at least two people were injured and one killed in an 'Ukrainian drone strike' on the Volgograd area. Sources claim that the crude distillation unit CDU-1 was shut down. This unit accounts for 40% capacity of the plant. CDU-6 and CDU-5 were also shut down. Lukoil has not responded to our request for comment. In 2024, the Volgograd refinery will have processed 13.5 millions metric tons of crude oil. This is 5% of the total volume of Russian refineries. The country produced 6 million tons of diesel, 1.9 million tons of gasoline, and 700,000 tonnes of fuel oil. (Reporting and Editing by Susan Fenton).
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Tasnim News Agency reports that Iran has stopped exchanging messages with the United States and may even block Hormuz.
Iran's Tasnim News Agency reported on Monday that Tehran's negotiating group is ceasing to exchange'messages' with the United States via mediators because of attacks on Lebanon. Diplomatic efforts are continuing to end 'the three-month old Iran War. According to the agency, Iran and the Resistance Front (which includes Shiite allies from Yemen, Lebanon, and Iraq) have an agenda that will block the Strait of Hormuz, and activate other fronts including the Bab El Mandeb Strait in order to punish Israel and its supporters. The Bab El Mandeb strait, off the coast Yemen, is a key shipping choke point and narrow passageway which controls sea traffic to the Suez Canal. "Violations on one front are violations of the ceasefire across all fronts." Abbas Araqchi, Iranian Foreign Minister on X Monday, said that the U.S. as well as Israel were responsible for any violations. The U.S.-Israeli war, which began on February 28, has resulted in the deaths of thousands of people - mainly from Iran and Lebanon. The war has also caused global economic pain, as energy prices have risen since 'Iran closed the Strait of Hormuz - a vital supply route for oil, LNG and other liquefied gas. Tasnim said that Iranian officials and negotiators have stressed the need for the Zionist regime to cease its aggressive and brutal military operations in Gaza, Lebanon and the occupied areas of Lebanon. There will be no discussions until Iran's and the resistance’s views are met on this issue. Reporting by Elwely Elwelly, Editing by Kevin Liffey
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Israel's El Al resumes San Francisco flights between Tel Aviv, Silicon Valley and Tel Aviv
El Al Israel Airlines announced on Monday that it will resume nonstop flights between Tel Aviv, Israel and San Francisco starting October 25. The airline cited a demand for a route connecting the two tech hubs. The three 15-hour weekly flights were given the number LY49 in honor of the San Francisco 49ers Football team. Shlomi Zafrani is El Al's Vice President of Commerce and Sales. The opening of this new route is intended to "respond to the significant demand from businessmen and Israelis in the region and to facilitate a more convenient and direct connection between Israel, Silicon Valley and the rest of the world." El Al operated between the two cities from late 2018 to early 2020, when it suspended the route 'due to COVID-19 pandemic. Resuming flights?to San Francisco is part of El Al's expansion. El Al, the Israeli flag carrier, announced in April that it would purchase up to 12 additional long-haul Dreamliner aircraft. The new route will increase the number of nonstop flights between Israel and U.S. cities. This includes New York City, Miami, Boston, Los Angeles, etc. (Reporting and editing by Alexander Smith; Steven Scheer)
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Choose France summit promises major investment
At its annual Choose France Business Summit on Monday, France announced 71 projects for foreign investment worth a total of EUR93 billion ($108.3billion). They will create over 15,600 jobs. The biggest announcements focused on?artificial Intelligence and data centres. President Emmanuel Macron is seeking to position France as a European Hub?for AI Infrastructure, helped by the?low-carbon electric supply. Here are some of the major 'investment' pledges: AI AND DATA CENTRES SoftBank has plans to build and operate five gigawatts of AI-dedicated capacity data centres in France. This includes an initial EUR45billion investment in Hauts-de-France for 3.1gigawatts by 2031. These projects will create approximately 8,600 construction jobs, and 900 direct operational jobs. The Canadian asset manager Brookfield has announced plans to increase AI infrastructure investments to EUR30 billion in France, up from EUR20 billion in February 2025. The investment includes an?AI facility in E-Valley, near Cambrai, and a new AI location at Escaudain. Nebius, a Dutch AI cloud company, plans to transform a former Bridgestone?site into a major European Computing Site. The company will invest more than EUR8 Billion for a targeted capacity of up to 240 Megawatts. Abu Dhabi investment firm MGX, and French public investment institution?Bpifrance announced that a second AI location will be selected in the near future. This site represents about EUR7.5 billion worth of investment as well as 700 permanent jobs when operational. Verne, a low-carbon data center specialist and Ardian, a French investment firm plan to build a digital infrastructure campus for the Paris area. The project will involve an investment of up EUR5 billion with aims of 500 MW. Phoenix Group, a digital infrastructure group in the UAE, is planning a 18-MW data center campus in Lyon and a larger plan that includes about 500 MW of data centres in France. This could represent up to EUR4 Billion in potential investment. Salesforce, a U.S.-based business software company, announced an additional EUR2 Billion investment in France including its first EU AI Innovation hub in Paris. INDUSTRY ENERGY DECARBONISATION EDP, the Portuguese utility company, announced EUR1.3 billion in new investments for France by 2030. These include onshore and off-shore wind, solar, battery storage, grid infrastructure, and other technologies. Enertrag, a German renewable energy company, announced an investment program of EUR1,1 billion by 2030 in France for battery storage and renewable energy infrastructure. Marcegaglia, an Italian steel company, announced that it would invest another EUR600 million in its project?Mistral at Fos-sur-Mer. This brings the total investment planned at this site to EUR1.2 billion. The Irish-based Smurfit?Westrock paper packaging company announced that it would invest nearly EUR600,000,000 in its French facilities over the next 3 to 5 years to modernise their operations and reduce carbon emissions. HEALTH AND PHARMA German pharmaceutical company Boehringer Ingelheim has announced an investment program of EUR 500 million by 2030 in animal healthcare LOGISTICS RETAIL AND FINANCE Belgian real-estate group VGP is investing more than EUR1.5 billion in business parks and logistic facilities. Amazon, a U.S. cloud and e-commerce group, announced the opening of three new distribution centres and three new logistic sites. The company invested EUR400 million in these projects and created more than 3,000 permanent jobs. Polish parcel lockers and delivery group,?InPost (owner of Mondial Relay), plans to invest at least EUR500 million in France more by 2030 and create at least 750 new jobs. Entertainment The Saudi E-Sport Foundation is investing around EUR250m in the organisation of the Esports World Cup this summer in Paris, which according to the government should generate an indirect economic impact of around EUR600m.
Ukraine renews its attacks on Russian energy sites. What has been struck?
In recent months, Ukraine has intensified its attacks on Russian energy installations as the peace talks failed to progress.
Here is a brief summary of the recent attacks and their impact.
Two industry sources have confirmed that Rosneft’s Syzran refinery, owned by Rosneft, has suspended oil refining following drone attacks on 18 April which damaged processing equipment.
The Syzran refinery can process around 170,000 barrels of oil per day, or 8.5 million tons per annum.
According to industry sources, it processed 4.3 millions tons of crude oil in 2024 and produced 800,000 tonnes of gasoline, 1,5 million?tons diesel, and 700,000 tonnes of fuel oil.
Two industry sources confirmed that the *NOVOKUIBYSHEVSK primary?oil?processing has been stopped at Rosneft's Novokuibyshevsk refining facility since April 18, following a Ukrainian drone strike.
Industry sources claim that in 2024, the refinery will process 5.74 million metric tonnes of crude oil and 1,10 million tons each of motor gasoline, diesel fuel, and fuel oil.
*TUAPSE The Russian Tuapse refinery has halted its operations after a drone attack in Ukraine on April 16. The refinery has a production capacity of 12 million metric tonnes per year or about 240,000 barrels a day. It produces fuel oil, naphtha and vacuum gasoil.
NORSI NORSI - Russia's fourth largest oil refinery, owned by Lukoil, halted operations on 5 April following an attack by a Ukrainian drone, according to two industry sources.
NORSI is Russia's second largest producer of gasoline and can process up to 16 million metric tonnes of oil each year. That's around 320,000 barrels of fuel per day.
Sources say that Kirishi, a Russian oil refinery, may resume some production in a month. The refinery halted its processing at the end March after Ukrainian drone attacks caused fires.
Sources claim that three of the four primary unit are expected to return to operation, which would equal around 60% of nominal primary capacity.
Kirishi produced 6.1 million tonnes of fuel oil, 6.1 millions tons of diesel and 600,000 tones of bitumen last year.
UST-LUGA PLANT FOR PROCESSING Russian energy company Novatek'suspended the processing of gas condensate and exporting naphtha at its Ust-Luga facility after drone attacks resulted in an fire, according to three sources.
Three processing units of the Ust-Luga Complex, each with 3 million tons per year capacity, refine stable condensate to light and heavy naphthas, jet fuels, ship fuel oils, and gasoils. According to company data, in 2025 the complex will have processed 8.0 millions tons of gas condensate.
UFA Ukraine’s military has said that it has struck Russia’s Bashneft Novoil oil refinery over 1,400 km from the Ukrainian border.
The plant can process up to 7 million tonnes of oil per annum.
SARATOV REFINERY According to sources, the Saratov refinery controlled by Rosneft was attacked by a drone in March and since then, its crude distillation unit is no longer operational.
The refinery will process 5.8 million tons of oil in 2024, which is 2.2% of the total Russian oil refining.
ILSKY REFINERY On February 17, a fire broke out in the Ilsky oil refining plant, located in southern Russia. The fire was caused by drone attacks. According to officials in the region, the fire was completely extinguished on February 18.
Exports are the main focus of Ilsky's refinery. It has a processing capacity of 6 million tons of crude oil per year.
VOLGOGRAD RIFINERY According to sources, the Volgograd refinery owned by Lukoil was closed on 11 February as a result drone attacks.
Drones targeted, amongst other facilities, CDU-1, the primary oil processing unit, whose daily capacity of 18,600 tonnes represents around 40% of refinery total. The Volgograd refinery will process 13.7 million tons?oil in 2024.
UKHTA RIFINERY According to officials in the region, a drone attack caused a fire at the Ukhta Refinery owned by Lukoil on February 12.
Sources claim that the CDU-1 primary oil processing unit caught fire. The unit's capacity is approximately 6,000 tons per a day or one third of the refinery.
The?Ukhta Refinery in northern Russia will process around 3,000,000 tons of oil by 2025.
AFIPSKY REFINERY According to officials in the region, a fire broke out at the Afipsky Refinery on January 21, as a result of drone attacks.
Exports are the main focus of the refinery. In 2024, it will process 7.2 million tons of crude oil or 144,000 barrels a day.
A SBU official from Ukraine confirmed that Ukrainian drones had struck an oil pumping and dispatch facility located in Russia's Samara Region overnight.
Kazakhstan reported early in April that?CPC oil exported via the Black Sea was stable after Russia announced an attack. Chevron, a U.S. oil major, said that crude oil exports were uninterrupted from the Tengiz vast field. Ukrainian drones started a fire in Russia's Sheskharis terminal at the beginning of April. Alexander Drozdenko, the local governor, said that a Ukrainian drone attacked in Primorsk on Russia's Baltic Sea coast early this month damaged a portion of piping for oil. Primorsk is one of Russia's biggest export ports, capable of handling 1 million barrels of oil per day. Last month, Ukrainian drones destroyed at least 40% its storage facilities. Barbara Lewis (Reporting and editing)
(source: Reuters)