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☆ China says it wants its busted balloon back after the US Navy fished the suspected spy craft out of the ocean
▼ + stars: | 2023-02-08 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +3 min

China now wants its busted balloon returned to it after the US shot it down. US Navy divers fished pieces of the massive balloon out of the Atlantic Ocean this weekend. The suspected Chinese spy balloon drifts to the ocean after being shot down off the coast in Surfside Beach, South Carolina, U.S. February 4, 2023. Chinese officials have admitted the balloon belongs to China but said it was a weather balloon that blew off course. Newly released images from the US Navy show divers pulling debris from the massive balloon out of the Atlantic Ocean.

☆ Biden says U.S. is 'going to take care of' Chinese balloon
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +2 min

SYRACUSE, New York, Feb 4 (Reuters) - President Joe Biden said on Saturday that the United States is "going to take care of" a suspected Chinese spy balloon that has been tracked flying across the United States. The president, who has not previously spoken about the suspected spy balloon, did not elaborate on what was planned. Military leaders considered shooting down the high-altitude surveillance balloon this week but eventually recommended against this because of the risk of falling debris, officials said. The balloon was sighted over Montana on Wednesday and has traveled across the United States. The Pentagon said on Friday that another Chinese balloon was observed over Latin America, without saying where exactly.

☆ Video shows the moment an F-22 shot down a Chinese spy balloon over the Atlantic Ocean
▼ + stars: | 2023-02-04 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +2 min

The US military shot down a suspected Chines spy balloon on Saturday, February 4, 2023. A meteorologist captured a video of jets circling the balloon before shooting it down. Senior defense officials said that an F-22 jet from Langley Air Force Base in Virginia shot the balloon with a single shot, according to Fox News. In another video posted to Twitter, a person yells "they got it, there it goes." Another 45-second clip posted to Twitter shows the approach to the balloon before it's shot down.

☆ US takes down Chinese spy balloon over Atlantic Ocean, seeking to recover debris
▼ + stars: | 2023-02-04 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

The US has taken down a suspected Chinese spy balloon over the Atlantic, according to The AP. The balloon earlier on Saturday had been detected over South Carolina near the Atlantic Ocean. According to The Associated Press, the balloon had been previously detected over South Carolina as it moved toward the Atlantic Ocean. China's Foreign Ministry on Friday stated that the aircraft "strayed into the United States due to force majeure." "China regrets that the airship strayed into the United States due to force majeure.

☆ U.S. military shoots down suspected Chinese surveillance balloon
▼ + stars: | 2023-02-04 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

The U.S. military on Saturday shot down a suspected Chinese surveillance balloon that had been transiting across the country for several days, according to NBC News. Department of Defense officials have not yet confirmed the balloon being shot down. Defense officials said the Pentagon considered shooting down the balloon earlier this week but decided against it after briefing Biden. Biden concluded that the U.S. would not shoot down the balloon because debris from it could cause damage on the ground, a Pentagon official said. A senior Pentagon official told reporters Thursday night that the object was clearly a surveillance balloon that was flying over sensitive sites to collect intelligence.

☆ China foreign ministry: 'airship' over the U.S. a 'force majeure accident'
▼ + stars: | 2023-02-04 | by ( Brenda Goh | ) www.reuters.com time to read: +1 min

SHANGHAI, Feb 4 (Reuters) - China's foreign ministry said on Saturday that flight of a Chinese "airship" over the United States was a force majeure accident, accusing U.S. politicians and media of taking advantage of the situation to discredit China. "China has always strictly abided by international law and respected the sovereignty and territorial integrity of all countries," the ministry said in a statement. It said Beijing and Washington had not announced any visit by Blinken and that "the U.S. announcements are their own matter and we respect that". Wang told Blinken that both parties needed to communicate in a timely manner and avoid any misjudgments, the ministry said. Reporting by Brenda Goh; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

BEIJING—China said a balloon that the U.S. military identified as a spy vehicle is in fact a civilian craft designed primarily for meteorological study which blew off course. “China regrets that the airship strayed into the United States due to force majeure,” said a statement from the Foreign Ministry late Friday in Beijing, referring to natural causes out of its hands. “China will continue to maintain communication with the U.S. to properly handle the unexpected situation caused by force majeure.”

☆ China's suspected spy balloon prompts Blinken to postpone Beijing trip as Congress seeks answers
▼ + stars: | 2023-02-03 | by ( Amanda Macias | ) www.cnbc.com time to read: +4 min

U.S. Secretary of State Blinken attends the Freedom of Expression Roundtable, in New York, U.S., September 19, 2022. Secretary of State Antony Blinken will postpone his trip to China next week following a suspected Beijing-operated spy balloon looming over parts of Montana. Chinese authorities said Friday that the balloon operating over U.S. airspace was a civilian weather balloon intended for scientific research. But the State Department said that was immaterial. "It was a mistake to not shoot down that Chinese spy balloon when it was over a sparsely populated area," Rubio tweeted on Friday.

It is territory infrequently traveled when it comes to the massive and complex U.S. flight system. Instead, each airline has its own policies about what it will do for delayed passengers. The DOT advises that, if a flight is significantly delayed, customers should ask airline staff if the carrier will pay for meals or a hotel room — but neither of these are guaranteed. If a flight has been delayed for more than two hours, or canceled, many airlines have policies that will kick in that allow passengers to get a full refund for the unused portion of their ticket. Southwest Airlines is rebooking customers on the next available Southwest flight with seats available to the customer’s ticketed destination at no additional cost.

☆ Here's how each airline does compensation for flight delays, from meals to hotels to ground transportation
▼ + stars: | 2022-12-21 | by ( Hannah Towey | ) www.businessinsider.com time to read: +3 min

The US Department of Transportation launched a new "airline customer service dashboard" this year. It breaks down the different rights passengers have when an airline delays or cancels their flight. However, several airlines have announced they are waiving flight change fees for passengers caught in the storm's path. The airline will now offer meal vouchers to passengers whose flights are delayed more than three hours instead of four hours, the airline's website shows. American Airlines has also updated the language in its customer service plan to "clarify" the company's existing policies, a spokesperson said.

☆ Libyan oil production at 1.2 mln barrels per day, oil minister says
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: 1 min

KUWAIT, Dec 12 (Reuters) - Libya is producing about 1.2 million barrels per day of oil, oil minister Mohamed Oun told reporters on the sidelines of an OAPEC meeting on Monday. "We hope to return to 2010 levels, which was 1.6 million bpd, within two or three years," he added. He added that he hoped that Libya's decision to lift force majeure on oil and gas exploration, which was announced last week, would encourage foreign oil companies to return to the country. Reporting by Ahmed Hagagy, writing by Ahmad Ghaddar in Dubai; Editing by Kirsten Donovan and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

SINGAPORE, Nov 17 (Reuters) - Oil prices extended declines on Thursday as concerns over geopolitical tensions eased, while rising numbers of COVID-19 cases in China added to demand worries in the world's largest crude importer. Brent crude futures fell by $1.04, or 1.1%, to $91.82 a barrel by 0430 GMT. On Wednesday Brent dropped by 1.1% and WTI 1.5% after Russian oil shipments via the Druzhba pipeline to Hungary restarted. "Crude oil fell after NATO cleared Russia's missile attack on Poland, while demand concerns (are) back to trader's focus amid ongoing China's COVID curbs and gloomy global economic outlooks," said Tina Teng, an analyst at CMC Markets. Sustained concerns about weak demand in China are also "keeping markets grounded," said Stephen Innes, managing partner at SPI Asset Management.

☆ Oil falls as geopolitical tensions ease, China COVID concerns return
▼ + stars: | 2022-11-17 | by ( Emily Chow | ) www.reuters.com time to read: +2 min

U.S. West Texas Intermediate (WTI) crude futures fell 65 cents, or 0.8%, to $84.94 a barrel. Brent dropped by 1.1% and WTI declined by 1.5% on Wednesday after Russian oil shipments via the Druzhba pipeline to Hungary restarted. "Crude oil fell after NATO cleared Russia's missile attack on Poland, while demand concerns (are) back to trader's focus amid ongoing China's COVID curbs and gloomy global economic outlooks," said Tina Teng, an analyst at CMC Markets. Oil prices eased despite a larger-than-expected draw in crude oil stockpiles in the United States, added Teng. read moreSustained concerns of demand weakness in China are also "keeping markets grounded," said Stephen Innes, managing partner at SPI Asset Management, as it continues to report more COVID cases in major cities.

☆ Oil falls as geopolitical tensions ease, China Covid concerns return
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: +2 min

Oil prices fell for a second day in early Asian trade on Thursday as concerns over geopolitical tensions eased and rising numbers of Covid-19 cases in China added to demand worries in the world's largest crude importer. U.S. West Texas Intermediate (WTI) crude futures fell 65 cents, or 0.8%, to $84.94 a barrel. Brent dropped by 1.1% and WTI declined by 1.5% on Wednesday after Russian oil shipments via the Druzhba pipeline to Hungary restarted. "Crude oil fell after NATO cleared Russia's missile attack on Poland, while demand concerns (are) back to trader's focus amid ongoing China's Covid curbs and gloomy global economic outlooks," said Tina Teng, an analyst at CMC Markets. Oil prices eased despite a larger-than-expected draw in crude oil stockpiles in the United States, added Teng.

☆ TC Energy says Keystone oil pipeline system to curtail volumes
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

Companies TC Energy Corp FollowNov 15 (Reuters) - Canada's TC Energy (TRP.TO) on Tuesday said the Keystone oil pipeline system will be required to curtail volumes due to a series of recent severe weather-related impacts to system facilities. TC Energy did not share any details on the duration of the curtailment, citing it as customer confidential information. Keystone ships Canadian crude from Alberta to the U.S. Midwest and on to the Gulf Coast, and is a key part of Canada's oil export network. The company in October said it would temporarily increase capacity on its Keystone pipeline for a couple of months from November for testing operations on the system. Reporting by Swati Verma in Bengaluru; Editing by Mark Porter and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Ukraine braces for power blackouts, fresh infrastructure attacks
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +2 min

[1/4] People walk on a dark street, as Russia's attack on Ukraine continues, in the old town of Kyiv, Ukraine November 6, 2022. The warnings followed remarks by Kyiv Mayor Vitali Klitschko urging residents to "consider everything" including a worst-case scenario where the capital loses power and water. Zelenskiy said in his nightly video address that more than 4.5 million consumers were already without power. "We also understand that the terrorist state is concentrating forces and means for a possible repetition of mass attacks on our infrastructure," he said. Zelenskiy did not elaborate on his statement that Russia needed Iranian missiles to target Ukraine’s energy infrastructure.

"If LNG from Russia is disrupted, we will need to negotiate to take alternatives from other suppliers," Hirofumi Sato added. Meanwhile, China is expected to steer clear of spot LNG this winter amid higher prices and low demand growth due to COVID-19 curbs. This pushed Asian spot LNG prices to record levels, though they have since eased amid solid inventory levels. Asia LNG prices rise above seasonal levels for most of 2022 as supplies tighten after Russia cuts gas supply to EuropeBut supply risks persist. "Supply side risks remain with Freeport LNG still undergoing maintenance in the U.S. and Nigeria LNG under force majeure."

LNG prices recently have cooled with Europe's gas storage levels rising to over 90% of target capacity and a slow start to winter. In Asia, however, a declaration of force majeure on gas supplies by Malaysian state-energy company Petronas (PETR.KL) has LNG customers in Japan scrambling for alternative cargoes. A total of 88 tankers carrying 6.27 million tonnes of LNG departed in October from U.S. ports, mostly heading to Europe, the data showed. LNG shipments from U.S. ports fell slightly to 6.27 million tonnes in October, with more cargoes going to Asia, where customers of Malaysian liquefied gas scramble to source alternative supplies. The shutdown of the second-largest U.S. LNG export plant has hit many customers, including Japan's biggest LNG buyer, JERA, which last week said it will book a $751-million loss mostly due to higher purchase costs.

☆ Factbox: Europe's alternatives if Russia shuts off gas supply
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +7 min

Germany halted certification of the new Nord Stream 2 gas pipeline from Russia because of the Ukraine war so it never went into operation. Germany, Europe's biggest consumer of Russian gas, can import gas from Britain, Denmark, Norway and the Netherlands via pipelines. Southern Europe can receive Azeri gas via the Trans Adriatic Pipeline to Italy and the Trans-Anatolian Natural Gas Pipeline (TANAP) through Turkey. Liquefied natural gas (LNG) imports to Europe have increased from producers such as the United States, Qatar and other countries. OTHER OPTIONS TO COPE WITH A GAS SUPPLY CRUNCH?

☆ Elon Musk says Tesla's value could soar to $4.4 trillion, Twitter might be worth $400 billion, and the Fed should cut rates. Here are his 10 best quotes from a Q3 earnings call.
▼ + stars: | 2022-10-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Elon Musk said Tesla's value could exceed $4.4 trillion, and Twitter could be worth $400 billion. The Tesla CEO said he's not an investor like Warren Buffett, and teased a $10 billion stock buyback. "I see a potential path for Tesla to be worth more than Apple and Saudi Aramco combined. I see a way for Tesla to be roughly twice the value of Saudi Aramco. Even if next year is a very difficult year, we still have the ability to do a $5 billion to $10 billion buyback."

☆ Nigeria LNG outage threatens Europe, traders with higher costs
▼ + stars: | 2022-10-18 | by ( Libgeorge Marwa Rashad | Marwa Rashad | ) www.reuters.com time to read: +3 min

LAGOS/LONDON, Oct 18 (Reuters) - European countries and gas traders are reeling from the latest LNG supply shock - a force majeure from Nigeria LNG - that threatens nearly 4% of global supply and further squeezes the continent's resources in absence of Russian pipeline gas. Nigeria LNG declared force majeure this week due to heavy flooding in that it said impacted virtually all of its gas suppliers. NLNG, with 22 million tonnes per year of capacity, said it is working to mitigate the impact, but flood waters are still rising. Unplanned disruptions in the United States, Nigeria and Australia have forced traders to pay millions in inflated costs for alternative supplies. France's Total, the second-largest offtaker, takes around 3 million tonnes per year.

☆ Nigeria LNG declares force majeure as flooding disrupts gas supply
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

Companies Nigeria LNG Ltd FollowLAGOS, Oct 17 (Reuters) - Nigeria LNG has declared force majeure because of widespread flooding that has disrupted supply, a spokesman for the company said on Monday. The declaration could worsen Nigeria's cash crunch and will curtail global gas supply as Europe and others struggle to replace Russian exports due to the invasion of Ukraine in February. NLNG said all of its upstream gas suppliers had declared force majeure, forcing it to make the declaration as well. Odeh said NLNG was determining the extent of the disruption and would try to mitigate the impact of the force majeure. NLNG's supply had already been limited due to prolific oil theft that has slashed output from what is typically Africa's largest exporter.

Whether Mozambique and its allies can stamp out the insurgency altogether is a question that has global repercussions as countries hunt for new sources of liquefied natural gas (LNG). Mozambique has huge natural gas reserves which, if managed effectively, could transform its fortunes. With already more than 100 trillion cubic feet of proven offshore natural gas reserves, one industry insider likened its future potential equal to Russia – a natural gas giant. The Mozambican forces, as had happened multiple times in smaller towns, were unable to stop them. Fighting between the terrorist group and the Mozambican army and Rwandan Security forces has left its mark on the town.

Such sanctions would prohibit Gazprom from paying Ukraine transit fees, which analysts say could end Russian gas flows to Europe via the country. "(Sanctions) would make into reality the worst-case scenario that European governments have been preparing for all summer, a European gas market without Russian gas," said Natasha Fielding, head of EMEA gas pricing at Argus Media. "Transit through Ukraine is the only Russian gas delivery route to Europe still in use besides the Turkish Stream pipeline, which serves southeast European countries," she added. Gas flows via the only operational Ukraine transit route through Sudzha are currently around 42 million cubic metres a day. As a result, European gas storage was 88% full as of Sept. 26, although there are variations between countries.

☆ RfP - Provision of IT services for Development of the Chamber of Comerce and Industry’s modules for digitization of Certificates of Origin (eCON) and Force Majeure certificates (eAAIJ)
▼ + stars: | 2021-01-20 | by ( Alte Articole | ) www.civic.md time to read: 1 min

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