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LONDON, Dec 5 (Reuters) - The market for old oil tankers is booming, and it's all down to efforts by Western nations to curb trade in Russian crude. The European Union banned all seaborne Russian crude imports from Dec. 5, with a fuel import ban to follow in February. PRICE SURGEMajor Western oil companies typically stop using tankers when they are about 15 years old, and many would be scrapped. More tankers are now being used for voyages taking weeks, shipping Russian oil from the Baltic and Black Sea to Asia, whereas Russian oil was mainly sold in Europe previously and the voyages only took a few days. Ship broker Braemar also said that some of the vessels involved in shipping Iranian and Venezuelan oil were shifting to transporting Russian oil.

☆ An assassination, a feud and the fight for power in Iraq's Kurdistan
▼ + stars: | 2022-12-05 | by ( Amina Ismail | ) www.reuters.com time to read: +10 min

TENSE STANDOFFAfter Rasoul's death, the KDP-dominated Regional Security Council accused a PUK security agency of the killing. It detained six men it identified as operatives involved and issued arrest warrants for another four senior PUK security officials, according to security council statement a week after the attack. Long-simmering mistrust between the two sides had already deepened this year due to a wave of defections from PUK security agencies. The senior PUK official told Reuters there had been eight. "It could've easily turned ugly," the senior PUK official said.

SummarySummary Companies Coal miners struggling to fund expansion plansThermal coal costs more than coking coal after price surgeMost Western bankers pulling back from coal industryLONDON, Nov 24 (Reuters) - It's the best of times, it's the worst of times. At least when it comes to mining coal. With funding hard to come by from Western banks, coal miners outside China have turned more to equity markets this year. "With regard to thermal coal mining, any transaction in coal mining requires an enhanced environmental risk review," a Deutsche spokesperson said, adding that the bank was updating its coal policy. Bens Creek listed shares partly because of the lack of appetite from banks to support any expansion of coal mining, chief executive Wilson said.

☆ Chinese carmakers target more European sales with five-star EVs
▼ + stars: | 2022-11-21 | by ( Nick Carey | ) www.reuters.com time to read: +7 min

"All Chinese EV makers want to achieve Euro NCAP five-star ratings in order to be more competitive in the European market," said Brian Gu, president of Chinese EV maker Xpeng (9868.HK). Perhaps more importantly for sales, high safety ratings also open up the potentially huge corporate car fleet market for Chinese EV makers. European carmakers are also pursuing five-star ratings for their EVs and hybrids, from BMW's (BMWG.DE) iX to Volkswagen's (VOWG_p.DE) ID.4 and ID.5. But almost half the Chinese cars sold were EVs, according to Inovev, giving them a 5.8% share of Europe's fully-electric vehicle market. Inovev vice-president Jamel Taganza said all Chinese cars sold in Europe would be EVs within a few years, with more lower-cost models on the way.

It wants 3.8 billion pounds ($4.4 billion) to build a gigafactory in northern England but its plans are hanging by a thread as it struggles to lure enough investment. French battery startup Verkor, for example, announced on Wednesday that it had raised 250 million euros ($249 million) to fund a megafactory. The European Battery Alliance (EBA) acknowledges Asian firms, and Chinese companies in particular, are likely to increase their market share in the coming years, helped by their track record and offtake agreements. "Even if we have the production in Europe, it doesn't mean we have the know-how or the control," she said. The EU has approved 6.1 billion euros since 2019 in funding by member states for battery research and innovation while Britain has a 1 billion pound fund to support investments in EV supply chains.

☆ Verkor raises 250 mln euros to fund EV battery megafactory
▼ + stars: | 2022-11-02 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

LONDON, Nov 2 (Reuters) - French battery startup Verkor has raised 250 million euros ($248 million) from investors to fund a battery "megafactory" on its way to building a much larger plant to produce batteries for its customer Renault (RENA.PA), the company said on Wednesday. Verkor, which is based in Grenoble, said investors in the funding round included French bank Societe Generale (SOGN.PA), German industrial company Siemens (SIEGn.DE) and the European Investment Bank, which put in 49 million euros. The funding round comes after the company raised 100 million euros from investors in 2021. Verkor said that so far the company has been making several batteries a day in its lab in Grenoble. As well as perfecting its battery chemistry, the megafactory will help Verkor master production at scale and train people to eventually run the Dunkirk gigafactory, Lemaignan said.

Register now for FREE unlimited access to Reuters.com RegisterThe energy crisis triggered by the war in Ukraine has renewed interest in nuclear power. But without a reliable source of the high assay low enriched uranium (HALEU) the reactors need, developers worry they won't receive orders for their plants. But only TENEX, which is part of Russian state-owned nuclear energy company Rosatom, sells HALEU commercially at the moment. And this chicken and egg conundrum is complicating the smooth development of HALEU supply. "A reliable HALEU supply is one of many factors under consideration," the company said in an emailed statement.

☆ ASOS in talks with lenders to amend terms of $391 mln facility
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 15 (Reuters) - British online fashion retailer ASOS (ASOS.L) is in talks with lenders to amend the terms of its 350 million pound ($391 million) borrowing facility, it said on Saturday. Sky News said the lenders were lining up AlixPartners and law firm Clifford Chance to advise them on an "unfolding situation". It warned last month that it expected profit before tax in the year to Aug. 31 to be around the bottom end of its guidance of 20 million pounds to 60 million pounds after weaker than projected August sales. ASOS also forecast full-year net debt of about 150 million pounds, which was higher than previous guidance. "This happened towards the end of August and there has been no adverse impact on trading relationships with our suppliers," ASOS said in response.

"I can tell you that there was a very clear and immediate meeting of minds between us about the importance of fiscal sustainability and the importance of taking measures to do that," Bailey said. Truss criticised the BoE during her leadership campaign, saying she wanted to set a "clear direction of travel" for the central bank. "We will not hesitate to raise interest rates to meet the inflation target," Bailey said. "And, as things stand today, my best guess is that inflationary pressures will require a stronger response than we perhaps thought in August." "In these difficult times, we need to be very clear on this framework of intervention," Bailey said.

☆ One dead in flash floods on the Greek island of Crete
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +1 min

Damaged cars are seen in the sea, following flash floods on the village of Agia Pelagia, on the island of Crete, Greece, October 15, 2022. REUTERS/StringerATHENS, Oct 15 (Reuters) - A man died and a woman was missing after their car was carried away in flash floods which hit the north coast of the Greek island of Crete on Saturday, Greek authorities said. The Greek fire brigade said they recovered the man from a vehicle that had been washed into the sea after torrential rain at the village of Agia Pelagia in the region of Heraklion. Images showed cars floating or partially submerged along with small fishing boats in muddy sea waters off Agia Pelagia. The fire brigade has received hundreds of calls to bring people to safety or pump water out of flooded buildings on the island, a fire brigade official said.

German and Chinese national flags fly in Tiananmen Square ahead of the visit of German Chancellor Angela Merkel in Beijing, China, May 23, 2018. German investment and trade in China hit record levels in the first half of 2022 and big business says there's no question of pulling back from the world's second-biggest economy. A spokesperson for the economy ministry said it was closely following the investment behaviour of German companies as part of its strategic considerations on how to deal with China. The economy ministry declined to comment when asked about a meeting next year, or the remarks about Habeck. Reuters reported last month that the economy ministry was considering curbing export and investment guarantees as part of its new China strategy.

☆ Ship captains held by Indonesian navy decry bribes and betrayal
▼ + stars: | 2022-09-28 | by ( Joe Brock | ) www.reuters.com time to read: +10 min

Most of the captains were freed after a few weeks once ship owners made unofficial payments to navy intermediaries of between $300,000 and $400,000, the people said. The Indonesian navy has said it never requests or receives money to release vessels. Ledoux, 57, questioned why more wasn't being done by ship owners and governments to raise awareness of the issue. An Indonesian navy spokesman did not respond to a request for comment. Reuters has not seen what evidence was presented at the trial to prove the ship was in Indonesian waters.

☆ Egypt's 2021/22 natural gas and LNG export revenue hits $8 bln - cabinet
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Amr Abdallah DalshSept 25 (Reuters) - Egypt's natural gas and liquefied natural gas (LNG) export revenue reached $8 billion in its 2021/22 fiscal year after volumes increased by 7.2 million tonnes, the Egyptian cabinet said on its Facebook page on Sunday. Egypt earns about $500 million monthly from natural gas exports and aims to raise that figure to $1 billion "in the coming period", Finance Minister Mohamed Maait said in a statement last week. Egypt has been pushing to maximise its exports of natural gas to generate foreign currency revenue after coming under financial pressure due to the impact of the war in Ukraine. The government says gas exports have been boosted after the it introduced an electricity rationing plan in August. Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed; Editing by David Clarke and David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi Arabia launches five renewable energy projects
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterSept 25 (Reuters) - Saudi Arabia has launched five new projects to produce electricity using renewable energy, with a total capacity of 3,300 megawatts, the state news agency (SPA) reported on Sunday. The projects, which include producing power through solar and wind, were launched by the Saudi Power Procurement Company (SPPC), which is the principal buyer. No financial details were disclosed. Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed; Editing by David ClarkeOur Standards: The Thomson Reuters Trust Principles.

☆ UAE signs energy agreement with Germany's Scholz
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +1 min

German Chancellor Olaf Scholz gestures during his joint news conference with Georgian Prime Minister Irakli Garibashvili following their meeting in Berlin, Germany, September 14, 2022. REUTERS/Christian MangSept 25 (Reuters) - The president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan, has signed an agreement with German Chancellor Olaf Scholz that covers accelerating energy security and industrial growth, the state news agency (WAM) reported on Sunday. Abu Dhabi National Oil Company (ADNOC) signed an agreement to supply liquefied natural gas (LNG) to German utility RWE , the report said. ADNOC will deliver the first shipment in late 2022 for use in the trial operation of a floating natural gas terminal in Brunsbuettel, the report said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Moataz Mohamed; Editing by David ClarkeOur Standards: The Thomson Reuters Trust Principles.

☆ British PM Truss tells allies to stand firm on Ukraine
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +3 min

Stefan Rousseau/Pool via REUTERSLONDON, Sept 25 (Reuters) - British Prime Minister Liz Truss said allies should stand firm on Ukraine and ignore Russian President Vladimir Putin's "sabre-rattling", as she seeks to mend fences with democratic powers in the face of increasing threats around the world. Truss, who met U.S. President Joe Biden and France's Emmanuel Macron on her first foreign trip as prime minister to New York last week, called on like-minded democracies to be firm against "autocratic regimes". Truss said Putin was escalating his invasion of Ukraine was because he wasn't winning and had made a strategic mistake. Truss, who became prime minister earlier this month, has taken a hard line against Russia and China. "I'm determined that we make the special relationship even more special over the coming years."

☆ UK's Truss to review visa schemes to ease labour shortages - FT
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterBritain's Prime Minister Liz Truss walks outside Downing Street in London, Britain, September 23, 2022. REUTERS/Clodagh KilcoyneSept 25 (Reuters) - British Prime Minister Liz Truss is set to launch a major review of the country's visa system in a move to tackle acute labour shortages in key industries, the Financial Times reported on Sunday. Register now for FREE unlimited access to Reuters.com RegisterReporting by Anirudh Saligrama in Bengaluru; Editing by David ClarkeOur Standards: The Thomson Reuters Trust Principles.

☆ Iran denounces U.S. support for 'rioters'
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: 1 min

DUBAI, Sept 25 (Reuters) - U.S. support for "rioters" is contrary to Washington's diplomatic stance towards Iran, Foreign Minister Hossein Amirabdollahian was quoted as saying by the semi-official ISNA news agency on Sunday. "Peaceful protest is the right of every nation. However, the U.S. involvement in Iran's affairs and support to 'rioters' in implementing their destabilisation project is in clear conflict with Washington's diplomatic messages to Iran regarding the necessity of a nuclear deal and establishing stability in the region," Amirabdollahian said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Dubai Newsroom; Editing by David ClarkeOur Standards: The Thomson Reuters Trust Principles.

☆ Ukraine 2022-23 sunflower oil output expected to be 3.5 to 4.9 million tonnes, analyst says
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterKYIV, Sept 24 (Reuters) - Ukraine's sunflower oil output could total between 3.5 and 4.9 million tonnes in the 2022/23 season compared with 5 million tonnes in 2021/22, analyst APK-Inform said on Saturday. The consultancy said in a report that sunoil exports could be between 3.0 and 4.6 million tonnes in 2022/23 depending on the sunflower seed harvest and the logistical situation. Register now for FREE unlimited access to Reuters.com RegisterReporting by Pavel Polityuk; Editing by David ClarkeOur Standards: The Thomson Reuters Trust Principles.

☆ Analyst APK-Inform raises Ukraine's 2022 grain crop forecast
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterA pile of grain bags with relief that was sent from Ukraine is seen at the World Food Program (WFP) warehouse in Adama town, Ethiopia, September 8, 2022. REUTERS/Tiksa NegeriKYIV, Sept 24 (Reuters) - Ukraine's 2022 grain harvest could total between 54.1 to 55.7 million tonnes compared with a record 86 million tonnes due to the Russian invasion which has reduced the harvested area, analyst APK-Inform said on Saturday. The consultancy said in a report that the harvest could include 19 million tonnes of wheat, 30 million tonnes of corn and 5.5 million tonnes of barley. It said a smaller harvest and logistical difficulties could cut 2022/23 July-June exports to between 22.6 and 38.8 million tonnes. Register now for FREE unlimited access to Reuters.com RegisterReporting by Pavel Polityuk; Editing by David ClarkeOur Standards: The Thomson Reuters Trust Principles.

☆ Iran Guards launch artillery attack on militants in Iraqi Kurdistan
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterDUBAI, Sept 24 (Reuters) - Iran's Revolutionary Guards launched an artillery attack on anti-Iranian militant bases in the Kurdish region of northern Iraq on Saturday, Iranian state television reported. "Headquarters of anti-Iranian terrorists" based in northern Iraq were targeted by the Guards, state TV said, in reference to Kurdish rebel groups based there. Iran has blamed the armed Iranian Kurdish dissidents of involvement in ongoing unrest in the country, particularly in the northwest where most of Iran's up to 10 million Kurds live. Register now for FREE unlimited access to Reuters.com RegisterReporting by Dubai newsroom; Editing by David ClarkeOur Standards: The Thomson Reuters Trust Principles.

☆ Polish inflation could rise in September, finance minister says
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe Palace of Culture is seen from the construction site of new skyscraper in Warsaw, Poland October 2, 2015. REUTERS/Kacper PempelWARSAW, Sept 24 (Reuters) - Inflation in Poland could rise slightly in September, the country's finance minister said on Saturday, adding that she still believed it would reach a peak this year. "We forecast that in September there could be growth in inflation to around 16.4%," Magdalena Rzeczkowska told private broadcaster RMF FM. Register now for FREE unlimited access to Reuters.com RegisterIn August, inflation was 16.1%, according to statistics office data. Register now for FREE unlimited access to Reuters.com RegisterReporting by Alan Charlish; Editing by David Clarke and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

☆ Death toll from sunken Lebanon migrant boat rises to 86
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: 1 min

People gather near Lebanese Red Cross vehicles that carry dead bodies of people that were aboard a migrant boat which according to Lebanese and Syrian officials sank off at Syrian coast after sailing from Lebanon, at the Lebanese-Syrian border crossing in Arida, Lebanon September 23, 2022. REUTERS/Mohamed AzakirRegister now for FREE unlimited access to Reuters.com RegisterCAIRO, Sept 24 (Reuters) - The death toll from a migrant boat that sank off the Syrian coast after sailing from Lebanon earlier this week has risen to 86, Syrian state TV said on Saturday. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ahmed Tolba; Writing by Yasmin Hussein; Editing by David ClarkeOur Standards: The Thomson Reuters Trust Principles.

The company's chief executive Patrick Pouyanne travelled to Doha to sign a deal with QatarEnergy chief Saad al-Kaabi for the North Field South (NFS) expansion, saying that the deal came at a "perfect time" when world leaders particularly in Europe were seeking new LNG supplies. Qatar's North Field expansion project will boost its position as the world's top LNG exporter and help guarantee long-term supplies of gas to Europe as the continent seeks alternatives to Russian flows. He said he could not disclose the total cost of the NFS project as some onshore contracts had not yet been finalised. Qatar's North Field expansion plan includes six LNG trains that will ramp up its liquefaction capacity from 77 million tonnes per annum (mtpa) to 126 mtpa by 2027. It awarded contracts for the first phase of the expansion project, North Field East (NFE), which includes four trains, earlier this year.

☆ Death toll from sunken Lebanon migrant boat rises to 94
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: +1 min

Members of Syrian Red Crescent work by a shoreline following a migrant boat, which according to Lebanese and Syrian officials, sank off the Syrian coast after sailing from Lebanon, in Tartous, Syria September 24, 2022. Courtesy of Syrian Red Crescent/Handout via REUTERSCAIRO, Sept 24 (Reuters) - The death toll from a migrant boat that sank off the Syrian coast after sailing from Lebanon earlier this week has risen to 94, after more bodies were recovered from Syria's Baniyas coast on the Mediterranean, Syrian state TV said on Saturday. It is the deadliest such voyage yet from Lebanon, where mounting economic desperation has led many to board often rickety and overcrowded boats in the hope of reaching Europe. Syrian authorities began finding bodies off the coast of the northern port city of Tartus on Thursday afternoon. The Syrian transport ministry quoted survivors as saying the boat had left from Lebanon's northern Minyeh region on Tuesday with between 120 and 150 people on board, bound for Europe.

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