Latest News
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Yemen's Houthis warn Saudi Arabia of their targets in response to Iran's flight to Sanaa
Yemen's Houthis claimed on Friday that their forces had engaged Saudi "warplanes", which they claimed 'attempted to stop an Iranian civilian aircraft from landing at Sanaa International Airport', according to the military spokesperson for the group Yahya Saarea. Sarea, an Iran-aligned group, warned they would "target Saudi airports and vital interest on land and sea" if Saudi Arabia continued to violate Yemeni airspace. He added that flights between Sanaa, Iran and Tehran would continue despite "possible consequences". Al Masirah TV, a Houthi-run channel, reported on Friday that an Iranian plane landed in Sanaa to fly the group's delegation to Tehran for the funeral of Iran’s late Supreme leader Ayatollah Ali Khamenei. Other passengers included more than 200 patients. Saudi Arabia led the military coalition which intervened in Yemen after the Iran-aligned Houthis took over the capital Sanaa in 2015. The Saudi-led coalition claimed early on Saturday that the Houthis' statements against the Kingdom were an attempt to "divert the attention" away from the group's "violations". It warned it would react firmly with "unprecedented force" against any attempts to attack the kingdom or violate Yemen's sovereignty. The Houthis demonstrated their missile and drone capabilities in Yemen's?war by attacking Saudi Arabia, targeting oil installations and critical infrastructure. Reporting by Eman Abohassira, Menna Alaa el-Din and Editing by Louise Heavens Philippa Fletcher David Gregorio
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Heatwave disrupts Fourth of Jule events in eastern US
The Fourth of July festivities were disrupted by a 'dangerous heatwave' that swept across large swathes of the central and eastern U.S. The Great American State Fair, which was a major event in President Donald Trump's celebration of the 250th anniversary of the United States, was also affected by the heat. The Great American State Fair was temporarily closed Friday afternoon as temperatures reached 101° Fahrenheit (38° Celsius). The organizers said that they expect the fair to reopen by?5 pm, with modifications such as cooling tents and spritzing stations. The emergence of the "heat dome," a system of high pressure that traps hot air over a large area, caused record-breaking temperatures to spread from the Midwest to the east of the U.S. earlier this week. More than 185 million people, or more than half of the U.S. population, were under heat alerts on Friday. National Weather Service reported that on Friday there were heat alerts for over 185 million people, more than half of the?U.S. In some parts of the nation, heat indexes can reach up to 115 F (46 C). Forecasters and government officials warned that this heat wave could be deadly. The government urged Americans to be hydrated and seek shade when attending public events and gatherings during the Fourth of Independence weekend. There were cancellations of events along the Eastern Seaboard during the Fourth of July weekend. This is when Americans usually 'gather to barbecues, parades, and fireworks displays in celebration of the 1776 Declaration?of?Independence. The Salute to Independence Parade in?Philadelphia was canceled due to extreme heat. The decision was made after temperatures reached 103 F in Philadelphia on Thursday. This tied a record set back in 1901. Heat-related disruptions were also felt in other parts of the region. Haddon Township in New Jersey canceled its annual Fourth of July parade. Watertown, upstate New York, cancelled its Independence Day concert. Boston officials have delayed the entrance to an annual riverside celebration of fireworks by four hours. The event was originally scheduled to begin at noon, but now it will start at 4 p.m. Reporting by Ahmed Aboulenein, Washington; Nathan Layne, New York. Editing by Mark Porter and David Gregorio.
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Heatwave disrupts Fourth of Jule events in eastern US
The Fourth of July celebrations were ruined by a 'dangerous heatwave' that swept through much of central and eastern U.S. On Friday, the heat wave forced officials to cancel or postpone dozens parades, concerts, and fireworks displays in celebration of the 250th anniversary of America. The Great American State Fair, a centerpiece event of President Donald Trump's efforts to celebrate the 250th anniversary of the United States of America on the National Mall of Washington was temporarily closed on Friday afternoon due to temperatures of 101 degrees Fahrenheit. Organisers have said that it is expected to reopen, weather permitting, at?5 pm, with modifications such as cooling tents and misting station. The National Weather Service reported that record-breaking temperatures reached the east coast of the United States from the Midwest this week. Over 185 million people received heat alerts for Friday. In many areas, peak heat indexes could reach?up to 115 degrees Fahrenheit. Forecasters and government officials warned that the heat wave was potentially deadly. They urged Americans to celebrate the Fourth of July outdoors, stay hydrated and seek shade, and be on guard for signs of heat illness. At least seven states have reported event cancellations, including a "major Independence Day Parade" in Philadelphia, as well as "events" in Maryland's Takoma Park, and Loudoun County in Virginia. Ahmed Aboulenein reported from Washington, Nathan Layne from New York and Mark Porter edited the story.
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PJM, the largest US power grid, intensifies emergency measures to prevent blackouts
PJM, the largest U.S. power 'grid operator, said?Friday he was on a federal alert for reducing electricity consumption in his territory due to generator failures, massive overloading of?its transmission lines and a spike in ac usage from prolonged sweltering temperatures. PJM said it had told utilities that they could reduce the electricity supplied to customers if they were under contract. PJM serves 67,000,000 people in the Mid-Atlantic, South, and Washington, D.C. area. This week, spot wholesale electricity prices in Northern Virginia, the home of the largest 'collection of data centres in the world, soared past $2,000 per megawatt hour. This compares to a?about 40?per MWh if PJM was not in distress. According to industry analysts and PJM operations data, the surge in prices is mainly because it's becoming expensive to supply power accross congested high voltage power lines.
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Alupar and Axia win power transmission projects in Brazil
A consortium led by Brazilian power company Alupar secured the largest lot in Friday's power transmission auction in Brazil, while Axia Energy won the other three projects. The consortium of Alupar, the Infra II Investment fund and other partners'secured' the installation of underground transmission in the metropolitan area of Sao Paulo with a proposal that offered to take 48 percent of the maximum revenue the project could generate. The auctioned lots on Friday were the most expensive, with the highest?investment expected at 1.1 billion reais (212.9?million). Axia Energia was awarded the remaining projects in Sao Paulo state, Mato Grosso state, and Mato Grosso do Sul with 668 million reais of required investment. According to the results released in Sao Paulo by the B3 stock market, Axia's winning offers offered a discount of more than 50% on the?allowed revenue in three cases. Brazil reauctioned four 'power transmission projects' after MEZ Energia - a company which had won concessions for 2020 and 2021 - failed to progress with them.
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Ivory Coast increases renewable energy with new solar power station
Ivory Coast opened a solar power plant of 52.4 megawatts (MW) on Friday as part of its 'efforts' to increase the % share of regenerative energy in their electricity mix, and achieve climate goals by 2021. The world's biggest cocoa producer wants to be a major energy supplier in West Africa. It aims to use 46% renewable energy by 2035. Ivory Coast has an installed capacity of approximately 3,000 MW. Most of this power is generated by oil and gas plants. It exports electricity to Ghana, Burkina Faso. Benin, Togo, and Mali. At the opening ceremony, Mines Minister Mamadou Sangafowa Coulibaly stated that "Today's Ceremony fits perfectly with Ivory Coast's strategy... to accelerate its energy transition through diversifying the electricity mix by expanding renewable energy capacity." According to PFO Africa, which is a 100% Ivorian infrastructure investment group, the Ferke Solar Plant?will?supply electricity for 370,000 households and directly serve about 2,000,000 people in primarily?the northern Ferkessedougou Region?. Construction ?of the plant was ?financed by PFO ?Africa subsidiary PFO Energies and it will operate on a Build-Own-Operate-Transfer basis. (Editing by Ayen deng Bior, Editing by Emelia sithole-Matarise).
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Yemen's Armed Forces Threaten Saudi Targets over Iran Flight to Sanaa
According to a military spokesperson, Yahya Saarea, Yemen's armed force alleged that they had confronted Saudi 'warplanes' attempting to prevent an Iranian civilian aircraft from landing in Sanaa International Airport. Sarea reported that the Iran-aligned group had warned they would "target Saudi airports and vital interest on land and sea" if Saudi Arabia continued to violate Yemeni airspace. He added that flights between Sanaa, Yemen and Tehran would continue despite "possible" consequences. Houthi Al Masirah TV reported earlier on Friday, that an Iranian aircraft had arrived in Sanaa. The group's delegation was then flown to Tehran for the funeral of Iran's Supreme Leader Ayatollah Ali Khamenei. Among the passengers were more than 200 patients. Saudi Arabia led a coalition of military forces that intervened militarily in Yemen in 2015. This was after Houthis, who were aligned with Iran, seized Sanaa as the capital. The Houthis demonstrated their drone and missile capabilities in attacks against Saudi Arabia, which targeted oil installations and other vital infrastructure. (Reporting and editing by Louise Heavens, Philippe Fletcher and Eman Abouhassira)
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CMA CGM ship damaged by missile in the Hormuz Strait could be scrapped, CEO states
The CMA CGM container vessel that was damaged by a'missile' in the Strait of Hormuz early in May may be sent to scrapyard, according to its chief executive. The CMA CGM San Antonio was attacked by a missile. Several members of the crew were injured and evacuated. The ship was one of the dozens of commercial ships that were?struck' during the Iran War. Rodolphe Saade, Chairman and CEO of CMA CGM, said at a business meeting in southern France that the car was "so damaged" that they were considering scrapping it. San Antonio, which had been stuck in the strait since a few weeks, has now been brought to safety. He said that the group did not intend to send ships back to the Gulf at this time. The Iranian side was advising against it. Saade, whose family controls CMA CGM, has reiterated his opposition against transit fees to use the Hormuz Strait. These are a few of the?unresolved questions in U.S. - Iranian peace talks. CMA CGM was the third largest 'container shipping' line in the world at the beginning of the Iran War, which virtually closed the waterway. Saade stated that CMA CGM wants to see four more vessels leave the zone. In a French press interview, the CEO said that some of their vessels are intended to be used in the Gulf.
Venezuela asks for grid repairs but does not guarantee payment
Two sources said that when potential financiers and providers of Venezuela's electrical industry met with government officials in Caracas, they were primarily concerned about?how to pay them for repairing the country's deteriorating grid.
Sources said that the executives were hesitant as the nation tried to jumpstart the $100 billion reconstruction plan, which was pushed by Washington.
Since she succeeded the deposed president?Nicolas Maduro? in January, Delcy Rod has made it a priority to ensure stable electricity. However, the cash-strapped nation has not been able to pay suppliers on time to help industries like oil and gas recover.
A representative of an equipment supplier that works with the government and the state energy company PDVSA said, "I came back from Venezuela very skeptical," after attending one of the Caracas meeting. The power plants need to be repaired. They haven't been done in 10 years. "But they have no idea how we will be paid."
Venezuela has less than 40% of its generation capacity available. This leads to frequent power outages, which limit the country's manufacturing capability. Under the late president Hugo Chavez, Venezuela's thermal power plants were expanded through 2013. However, these projects left unpaid billions of dollars to contractors. Some of them are now being asked to return. There is still a lack of clarity about which projects are to be prioritized, and the supplies required to fix and reinforce the country's thermal and hydroelectric plant. The sources say that this uncertainty, along with the uncertainties surrounding payments and authorizations from Washington and Caracas will delay investment.
Venezuela's Ministry of Communication, Corpoelec and the state-run PDVSA oil company did not respond to requests for comments.
No Payment Solutions in Sight
After the April meetings, Rodriguez's Government approached companies including Siemens Energy, GE Vernova, and Mitsubishi Power to repair the grid. Siemens?Energy confirmed that they met with government officials. A spokesperson for GE Vernova stated that the company was "motivated to meet the current moment" in support of the Venezuelan people. Mitsubishi Power declined to comment on a request. According to independent data, only 2,500 megawatts, or 13%, of Venezuela's 36,000 megawatts of installed generation capacity are available. This is primarily due to the poor condition of the fuel-powered plants. Rodriguez did not go into detail about her plans but said that the initial focus is on fixing 'two large thermal power plants which have underperformed for years.
She said, "Solutions will not come overnight," last week at a rally held in Valencia, which is one of the many cities that have experienced frequent power outages. Some multinationals are hesitant to return to Venezuela because of the experience they had during the Chavez years. After Venezuela provided them with promissory note instead of cash, several companies that were not paid filed arbitration cases or took legal action overseas. Many of those were sold at huge discounts.
In the years that followed, no further work was done in part because of U.S. Sanctions which are now being loosened.
Sources say that Rodriguez's government rejected a recent proposal by a group foreign companies seeking to be reimbursed for initial repairs and parts. They cited legal obstacles.
One executive of a potential financier said that some proposed receiving direct payments from U.S. Treasury accounts that collect the proceeds from oil sales in the country.
Venezuela has debts to multilateral institutions, banks and other financial institutions, which is another obstacle in the way of financing.
Blackouts and Rationing to be Lengthened
Venezuela's most important industry, the oil and gas industry, has been hampered by power problems.
PDVSA has been unable to restart gasoline production units at the Paraguana Refining Center (one of the largest in the world, with 955,000 barrels per day installed capacity) due to several blackouts that have occurred this year. This has caused fuel to be delayed, resulting in long lines of waiting drivers.
One of the sources stated that PDVSA was assessing its repair and equipment needs. He added that the company he represents would "not repeat past mistakes" in regards to its position regarding extending credit to Venezuela. A three-year stabilization program will require at least $15 billion to repair the 'grid. According to Miguel Lara, a power expert, without it, only minor repairs can be made. He said, "It is a complex problem. It's like a puzzle." "I don’t know what power supply will support economic reactivation that they are talking about."
Lara stated that the demand last year was 14,700MW. This left a deficit at least 1,500MW. In the first quarter of this year, there were 35 major?outages on the grid. This compares to a historical average of 3-5 events per annum. He added that the theft and misuse of spares parts also contribute to infrastructure problems.
In March, Bernerd Da?Santos (executive vice president of AES in the United States) warned that Venezuelan transmission lines must be strengthened urgently. He said that if the government adjusted tariffs in order to reduce subsidies, and provided legal certainty for contracts, then investment would be possible. A company document revealed that some energy producers including Spain's Repsol have already made open?requests for sourcing their own power plants, and other supplies. Repsol didn't respond to a comment request.
Residents are left without power for increasingly long periods, up to 10 hours per day.
A group of young men play basketball in the western city Maracaibo. It is Venezuela's second most important after Caracas. The only light on the court comes from a motorcycle headlight.
Fernando Urdaneta, a 20-year old student, said: "We used play here everyday. But rationing has increased." "At the very least, we won't stop working out, get bored, and leave our house which becomes an oven."
(source: Reuters)