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☆ Oil falls as rate hike expectations offset US stock draw
▼ + stars: | 2023-09-21 | by ( Trixie Sher Li Yap | ) www.reuters.com time to read: +3 min

An aerial view shows oil tanks of Transneft oil pipeline operator at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia June 13, 2022. REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsSept 21 (Reuters) - Oil prices fell in early Asian trade on Thursday, after posting the largest fall in a month in the previous session, as U.S. interest rate hike expectations offset the impact of drawdowns in U.S. crude stockpiles. U.S. West Texas Intermediate crude (WTI) fell 71 cents, or 0.79%, to $88.95, the lowest since Sept. 14. The hawkish stance also led to the U.S. dollar surging to its highest since early March, placing downside pressure on oil prices. "This tightness, along with strong refinery margins (largely a result of tightness in middle distillates) suggests that oil prices are likely to see further strength in the short term," he said.

Persons: Tatiana Meel, Brent, refiners, Warren Patterson, Laura Sanicola, Sonali Paul Organizations: . West Texas, ING, U.S . Federal Reserve, Open Market, U.S, Energy, U.S . Energy Information Administration, American Petroleum Institute, ANZ, Cushing, Organization of, Petroleum, Thomson Locations: Nakhodka, Russia, Saudi Arabia

☆ U.S. revives Cold War submarine spy program to counter China
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +21 min

The original network of fixed spy cables, which lie in secret locations on the ocean floor, was designed to spy on Soviet submarines seven decades ago, the three people said. China, meanwhile, is working on its own maritime spy program, known as the Great Underwater Wall, two U.S. Navy sources told Reuters. Sense of urgencyAmerica’s underwater espionage program was launched in the 1950s with a submarine detection system known as the Sound Surveillance System. The U.S. Navy’s Undersea Surveillance System The United States is expanding and upgrading its anti-submarine surveillance capabilities as tensions rise with China. Japan also operates a fleet of three ocean surveillance ships, fitted with U.S. SURTASS cables, the two U.S. Navy sources said.

Persons: Captain Stephany Moore, Richard Seif, Moore, Seif, ”, Tim Hawkins, Mariana Trench, Brent Sadler, We're, Sadler, ” Jon Nelson, Phillip Sawyer, Sawyer, United States –, SOSUS, SubCom, Stephen Askins, Lockheed Martin, Chuck Fralick, Leidos, ” Fralick, Hawkins, Richard Jenkins, Saildrone, Joe Brock, Mohammad Kawoosa, Simon Scarr, Edgar Su, Catherine Tai Design, Eve Watling, Marla Dickerson Organizations: U.S . Navy, Navy, Undersea Surveillance Command, Undersea Surveillance, United, Submarine Force U.S . Pacific Fleet, Reuters, U.S . 5th Fleet, U.S, Pacific, China Academy of Sciences, China’s Ministry of Defense, Foreign, China Naval, U.S . Naval Forces Korea, The Heritage Foundation, Department of Defense, Naval Air Station Whidbey, Processing, Undersea, Undersea Warfare, Naval Postgraduate School, Taiwan, Ships, Titan, Navy’s, CS, U.S . Department of Defense, Lockheed, U.S . State Department, An Australian Defense, Self, Defense Force, Leidos Locations: Seattle, U.S, Whidbey, China, Taiwan, Beijing, United States, Australia, Pacific, South China, Mariana, Yap, Federated States, Micronesia, Guam, Russian, Ukraine, Washington . U.S, Washington, Soviet Union, Washington State, Virginia Beach , Virginia, Monterey , California, Japan, India, States, London, Taiwan Strait, Virginia, San Francisco

Its startup could add as much as $2 per barrel to prices paid by U.S. Midwest oil refineries that sit along Canada's existing main oil-export route. "They will be competing for barrels that no longer transit through their region," said a Calgary-based oil trader. That has left Canadian oil producers vulnerable to deep price discounts or "blowouts" whenever pipelines become congested or rupture. The start-up of TMX could add a "buck or two" to the cost of a barrel for Midwest refiners, he estimates. So far this year, over 200,000 bpd of Canadian crude has been re-exported from the U.S. Gulf Coast, up from about 73,000 bpd in 2019, Kpler data showed.

Persons: Rory Johnston, Matt Smith, Smith, Stephanie Kelly, Nia Williams, Laura Sanicola, Marguerita Choy Organizations: U.S ., U.S, BP, Citgo Petroleum, Exxon Mobil, Koch Industries, Flint Hills Resources, Canadian, Energy, Administration, TC, Keystone, refiners, Americas, Thomson Locations: CALGARY, Alberta, Coast, U.S, U.S . Midwest, Gulf Coast, Midwest, Flint, Calgary, Canada, Pacific, U.S . West Coast, Asia, Gulf, China, Kpler

[1/3] Brett Isaac, founder and co-CEO of Navajo Power, attends the first annual Tribal Energy Equity Summit in Saint Paul, Minnesota, U.S., May 22, 2023. Tribes cannot access key incentives for larger clean energy projects until they secure an agreement to connect to the regional electrical grid. That could jeopardize a "once in a lifetime opportunity,” according to Cheri Smith, president of the Alliance for Tribal Clean Energy, a nonprofit that is helping tribes develop clean energy. The Standing Rock Sioux have so far spent $3 million on technical studies and fees to remain in the queue, with no guarantee of approval. A NEW DAYThe Standing Rock Sioux tribe's development authority, called SAGE, proposed the 235MW wind farm three years ago.

Persons: Brett Isaac, Sarah Arnoff Yeoman, Cheri Smith, Smith, Joe McNeil, McNeil, Eileen Briggs, Greg Anderson, Alliance's Smith, Jeremiah Baumann ,, Willie Phillips, Alliance’s Smith, Celeste Miller, It’s, ”, Valerie Volcovici, Richard Valdmanis, Suzanne Goldenberg Organizations: Navajo Power, Tribal Energy Equity Summit, REUTERS, Alliance for Tribal Clean Energy, Reuters, National Renewable Energy Laboratory, Energy Information Administration, SAGE, Dakota, Interior Department, Southwest, Sierra Club Foundation, Wallace Global Fund, Bush Foundation, Moapa, Tesla, Federal Energy Regulatory Commission, Energy, Interior, Infrastructure, DOE, FERC, Thomson Locations: Navajo, Saint Paul , Minnesota, U.S, Sioux, North, South Dakota, United States, Phoenix, Bismarck , North Dakota, philanthropies, Paiute, Nevada, Las Vegas, St, Paul , Minnesota

☆ Big Farms and Flawless Fries Are Gulping Water in the Land of 10,000 Lakes
▼ + stars: | 2023-09-03 | by ( Dionne Searcey | Mira Rojanasakul | ) www.nytimes.com time to read: +19 min

UNCHARTED WATERS Big Farms and Flawless Fries Are Gulping Water in the Land of 10,000 Lakes When Minnesota farmers cranked up their wells in a drought, they blew through state limits. The location of the White Earth Reservation is also shown, in the upper left portion of the map. Cloud St. Paul Minneapolis Rochester Sandy Soils WHITE EARTH RESERVATION Duluth Irrigation Wells St. Cloud St. Paul Minneapolis Rochester Sandy Soils WHITE EARTH RESERVATION Duluth Irrigation Wells St. “There’s a lot of water in this area.”His farm is awaiting approval for two new state permits for irrigation wells.

Persons: Warren, Mike Tauber, they’ve, ”, Trevor Milbrett, Warren Warmbold, “, Mr, Warmbold, Offutt, Ellen Considine, don’t, Carlos Gonzalez, It’s, farming’s, Robert Glennon, John Nieber, Paul Minneapolis, Nieber, White, Jamie Konopacky, Allan Armstrong, Armstrong, Armstrong’s, Austin Tersteeg, Erskine, Tersteeg Organizations: R.D, Offutt, Minnesota Department of Natural, New York Times, Irrigation, Farmers, state’s Department of Natural Resources, United States Department of Agriculture, Department of Agriculture, Star Tribune, Getty, Park Rapids ., University of Minnesota, Twin, Paul Minneapolis Rochester Sandy, Paul Minneapolis, White, Department of Natural Locations: Lakes, Minnesota, R.D, Warren, Minn, Backus, Eagle Bend, United States, Midwest, Park Rapids, In Minnesota, North Dakota, America, Offutt, Twin Cities, Sandy, Duluth, Wells St, Cloud, Paul, Paul Minneapolis Rochester, Austin, Red Lake County

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsHOUSTON, Aug 24 (Reuters) - A draft environmental impact statement for the Dakota Access oil pipeline is now expected to be released in fall, a spokesperson for the U.S. Army Corps of Engineers said on Thursday. The review was initially expected to be completed last year and earlier was pushed back to spring of this year. A U.S. court last year ordered the federal government to undertake a more intensive environmental study of the pipeline's route under a lake that straddles the border of North Dakota and South Dakota. It is the biggest oil pipeline from the Bakken shale oil basin and can transport up to 750,000 barrels of oil per day from North Dakota to Illinois. "It's a real threat that DAPL could be shut down or shut down to temporarily move it," Lynn Helms, director at North Dakota regulator, Department of Mineral Resources, said last week.

Persons: Edwin Drake's, Brendan McDermid, Lynn Helms, Arathy Somasekhar, Gary McWilliams Organizations: Drake, Titusville , Pennsylvania U.S, REUTERS, Rights, Dakota, U.S . Army Corps of Engineers, South Dakota . Pipeline, Energy, North, of Mineral Resources, Thomson Locations: Titusville , Pennsylvania, U.S, North Dakota, South Dakota, Illinois, Dallas, Missouri, Houston

Brent crude was down 36 cents at $84.10 a barrel by 11:45 a.m. EDT (1545 GMT). China, the world's second-largest economy, is considered crucial to shoring up oil demand over the rest of the year. Amplifying demand concerns, U.S. central bank officials have not ruled out further interest rate hikes to contain inflation. A preliminary Reuters poll showed that crude oil and gasoline inventories were expected to have fallen last week, with data from American Petroleum Institute due later on Tuesday. Separately on Monday, Shell (SHEL.L) said it was investigating a possible leak on the 180,000 bpd Trans Niger oil pipeline, though no force majeure has been declared.

Persons: Lucy Nicholson, Brent, Jim Ritterbusch, majeure, Natalie Grover, Paul Carsten, Muyu Xu, Katya Golubkova, Tomasz Janowski, David Evans, David Goodman, David Gregorio Our Organizations: REUTERS, Companies Shell, West Texas Intermediate, Saudi, Ritterbusch, Associates, American Petroleum Institute, of Commerce, Shell, Thomson Locations: Bakersfield , California, China, Russian, Galena , Illinois, U.S, Iraqi, Turkey, Iraq, Saudi, Niger, London, Singapore, Tokyo

☆ Women’s Open: Charley Hull slams protestors after interruption
▼ + stars: | 2023-08-15 | by ( Jack Bantock | ) edition.cnn.com time to read: +4 min

CNN —English golfer Charley Hull has criticized protestors who interrupted the final round of the Women’s Open on Sunday. In a video titled “Let’s Crash AIG Women’s Open,” Ekō called on users to tweet at AIG to protest the construction of the “disastrous” East African crude oil pipeline (EACOP). A spokesperson for Ekō told CNN on Monday that the group was not involved in the protest at the tournament. Andrew Redington/Getty ImagesHaving finished three shots adrift of Allisen Corpuz at the US Women’s Open in July, she has now recorded runner-up performances at three of the five flagship events, and at least tied-seventh at the other two. “I feel that I have come close twice in the two biggest majors, the US Open and the Women’s Open, so I really feel like next year is my time to win one.”

Persons: Charley Hull, Hull, Lilia Vu, …, Ekō, Andrew Redington, ”, “, Hull’s caddie Adam Woodward, ” Woodward, Matt Taylor, Vu, Corpuz, ” Hull Organizations: CNN, Walton Heath Golf Club, Surrey Police, Twitter, AIG, AIG Women’s, Reuters, Getty, Telegraph, France’s, Financial Times, Chevron, Hull, US, Sky Sports Locations: Tadworth, England, EACOP, Uganda, Tanzania

☆ Bridgewater's tech chief is leaving the hedge fund giant for Microsoft to focus on the 'relentless tide of cyber threats'
▼ + stars: | 2023-08-10 | by ( Bianca Chan | ) www.businessinsider.com time to read: +4 min

He told Insider he's making the move to help combat cybersecurity on a broader scale. Igor Tsyganskiy, chief technology officer and president, is leaving the world's largest hedge fund after seven years, Insider has learned. Prior to Bridgewater, Tsyganskiy ran database.com, a division of Salesforce.com, and was the cofounder of Tealeaf Technologies, which was sold to IBM. Bell recently told Insider that AI would give Microsoft the upper hand to "finally turn the tables on the attackers." "Basically, end-to-end strategy on how Microsoft approaches the cybersecurity sector is my job," Tsyganskiy told Insider.

Persons: Igor Tsyganskiy, Tsyganskiy, Greg Jensen, Bridgewater's, Oliver Radwan, Kevin Brennan, Ray Dalio, Nir Bar Dea, Bridgewater, Charlie Bell, Bell Organizations: Bridgewater, Microsoft, LinkedIn, Tealeaf Technologies, IBM, Web Services Locations: Bridgewater, Bay Area, Connecticut, Westport , Connecticut, Salesforce.com

☆ Poland finds leak on one part of Druzhba oil pipeline from Russia to Europe
▼ + stars: | 2023-08-06 | by ( Anna Wlodarczak-Semczuk | ) www.reuters.com time to read: +4 min

A view shows a leak detected in Druzhba oil pipeline as reported by Polish pipeline operator PERN, in Chodecz, Poland August 5, 2023, in this picture obtained from social media. The leak was detected near Chodecz, central Poland, on one of the two lines of the western section of the Druzhba through which crude oil reaches Germany, PERN said. Germany stopped buying Russian oil in January, but German media have reported that Kazakh oil was being imported through the line. The Druzhba oil pipeline is one of the world's largest and can carry 2 million barrels per day. Flows through the Druzhba pipeline have dropped sharply since Russia's invasion of Ukraine and pipeline infrastructure has been hit several times since in attacks that Moscow has blamed on Ukraine.

Persons: Anna Trzeciakowska, Grzegorz Jankowski, Vera Eckhert, Pavel Polityuk, Frances Kerry, Philippa Fletcher Organizations: REUTERS Companies, Firefighters, State Fire Services, TVN24, German Economy Ministry, Thomson Locations: Chodecz, Poland, WARSAW, Russia, Europe, Moscow, Ukraine, Germany, Wloclawek, Eastern, Central Europe, Belarus, Nord, Baltic

REUTERS/Dado Ruvic/IllustrationAug 4 (Reuters) - Canadian pipeline operator Enbridge Inc (ENB.TO) reported higher second-quarter profit on Friday due to increased oil volumes, and said it was not considering splitting its business. "I just don't see (a split) today for a company of our breadth, size and diversity, and frankly low risk diversification." The Mainline earned C$1.45 billion ($1.09 billion) in the quarter, up 19% from last year. The company reaffirmed its 2023 core earnings guidance and posted adjusted earnings of 68 Canadian cents, in line with analysts' average expectations, according to Refinitiv data. Enbridge reported net income of C$1.8 billion, or 91 Canadian cents per share, for the quarter, compared with C$450 million or 22 Canadian cents per share in the same period of last year.

Persons: Dado Ruvic, Greg Ebel, Ebel, Arshreet Singh, Rod Nickel, Sriraj Kalluvila, Jan Harvey Organizations: REUTERS, Enbridge, TC Energy, Thomson Locations: Calgary , Alberta, Toronto, Alberta, Enbridge's, U.S, Bengaluru, Winnipeg

☆ US pulls back offer to buy 6 million barrels of oil for emergency reserve
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Richard CarsonWASHINGTON, Aug 1 (Reuters) - The Biden administration has pulled an offer to buy 6 million barrels of oil for the Strategic Petroleum Reserve, an Energy Department spokesperson said on Tuesday, as oil prices are expected to keep rising after a output cut from Saudi Arabia. The U.S. made the latest solicitation to buy the sour crude oil for the SPR on July 7. After the administration released a record 180 million barrels from the reserve last year to control prices after Russia's invasion of Ukraine, the Energy Department has bought back 6.3 million barrels in recent months. The person not specify what that meant, but tight oil supplies that have caused global oil prices to rise above $80 per barrel in recent weeks. The American Petroleum Institute indicated on Tuesday that U.S. crude stocks fell about 15.4 million barrels in the week that ended July 28, sources said.

Persons: Richard Carson WASHINGTON, Biden, Timothy Gardner, Leslie Adler, Cynthia Osterman, Gerry Doyle Organizations: Department of Energy, Strategic Petroleum Reserve, REUTERS, Energy Department, American Petroleum Institute, Thomson Locations: Freeport , Texas, U.S, Saudi Arabia, Ukraine

☆ Feds vote to reduce bottlenecks in connecting new power sources to the energy grid
▼ + stars: | 2023-07-31 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +9 min

Also, power generators will have to meet certain requirements to keep their place in the queue, including a financial deposit. Deadlines and penalties for transmission providers: Transmission providers will have strict deadlines to to respond to power generators waiting in the queue, and will face penalties if they miss those deadlines. Also, power generators will be able to add a source of power to a single interconnection request. It can be so expensive to build new transmission, sometimes power generators can't afford the cost and have to cancel their power generation plans completely. Also, power generators wait for an average of five years in these queues because grid operators are flooded with interconnection queue applications.

Persons: Jeffrey Lamb, LADWP, Al Seib, George Rose, Rob Gramlich, Gramlich, Joseph Rand, Rand, Gregory Wetstone Organizations: Sylmar, Pacific DC, Los Angeles Department of Water, Los Angeles Times, Getty, Aera Energy, CNBC, Lawrence Berkeley National Laboratory, FERC, Vw, American, Renewable Energy Locations: Columbia, Oregon, California, Southern California, Angeles, Los Angeles , CA, CA, San Joaquin Valley, McKittrick , California, North, Lost, Kern County, Bakersfield, United States, Milford , Utah, Milford, Smithfield, ACORE

Companies TC Energy Corp FollowJuly 28 (Reuters) - Shares of TC Energy (TRP.TO) fell nearly 5% on Friday after the Keystone pipeline operator said it would spin off its liquids business to focus on transporting natural gas. But TD Securities downgraded TC to "hold" from "buy", saying it was skeptical the spinoff would create value. TC CEO Francois Poirier said TC needed to sell another C$3 billion in assets during the next 18 months to reach its 4.75 times debt to EBITDA target. TC had 5.4 times debt to EBITDA last year and is aiming to reduce that to 5 times this year. TC's Keystone pipeline in December spilled more than 14,000 barrels of oil in Kansas.

Persons: Linda Ezergailis, Ryan Bushell, Bushell, Francois Poirier, TC, Brandon Thimer, Poirier, It's, ” Poirier, Stephen Ellis, TC's, Joe Biden, Arshreet Singh, Rod Nickel, Anil D'Silva, Mark Potter Organizations: TC Energy, Keystone, Columbia, Transmission, TC, Securities, Newhaven Asset Management, Investment, National Bank of Canada, Morningstar, Thomson Locations: Toronto, Columbia, Newhaven, United States, Kansas

☆ TC Energy to sell 40% in Columbia gas transmission systems for $4 bln
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

July 24 (Reuters) - Canada's TC Energy (TRP.TO), best known for its Keystone oil pipeline, will divest a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission pipelines for C$5.2 billion ($3.95 billion) to Global Infrastructure Partners (GIP). TC was on course to deliver on its target to divest C$5 billion of assets by the end of the year, CEO François Poirier said in April. Columbia Gas and Columbia Gulf will be held in a new joint venture partnership and TC will remain the operator under the deal, which is expected to close in the fourth quarter. The pipelines span more than 15,000 miles and deliver a substantial portion of daily U.S. natural gas demand, including about 20% of U.S. liquefied natural gas (LNG) export supply, according to TC Energy. ($1 = 1.3180 Canadian dollars)Reporting by Arshreet Singh; Editing by Shounak Dasgupta and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: François Poirier, TotalEnergies, Arshreet Singh, Shounak Dasgupta, Sriraj Organizations: Canada's TC Energy, Keystone, Columbia, Transmission, Global Infrastructure Partners, TC, Columbia Gas, GIP, TC Energy, Thomson Locations: The Calgary , Alberta, British Columbia, U.S, Rio Grande

REUTERS/Stringer/File PhotoSummary Countries at odds over which should pay climate financeEU wants China to contribute to climate fundsChina among countries not currently obliged to payBRUSSELS/BEIJING, July 21 (Reuters) - Record-breaking heat in China. The EU, today the biggest contributor of climate finance, has lobbied to expand the pool of donor countries that provide it. Climate finance refers to money that wealthy countries pay toward helping poorer nations reduce CO2 emissions and adapt to a hotter, harsher world. Advocates for the change argue that an expansion needs to happen before a new - and, likely, far bigger - U.N. target for climate finance kicks in after 2025. "It would earn China diplomatic clout, and pressure Western donors to raise their stakes on climate finance," he said.

Persons: Stringer, John Kerry, Janet Yellen, Kerry, Li Qiang, Pa'olelei Luteru, Luteru, Byford Tsang, Kate Abnett, Valerie Volcovici, Katy Daigle, Stephen Coates Organizations: REUTERS, BRUSSELS, U.S, Union, Reuters, EU, United Arab Emirates, of Small, WHO, United, Climate Cooperation, Initiative, Bridgetown Initiative, Thomson Locations: Hangzhou, Zhejiang province, China, EU, BEIJING, COP28, Dubai, Beijing, U.S, Brazil, Saudi Arabia, Qatar, Singapore, States, United States, South Korea, U.N, Barbados, Bridgetown, Brussels

A negotiating team representing the South American country has held settlement talks with some of those creditors and holders of defaulted PDVSA bonds. The U.S. has shielded Houston-based Citgo from creditors since the company in 2019 severed ties with its ultimate parent, Venezuela's state oil firm Petroleos de Venezuela (PDVSA.UL), which is controlled by President Nicolas Maduro. Horacio Medina, chief of the board that supervises Citgo, did not immediately reply to a request for comment. A sales process for Citgo shares that could begin as soon as September is under consideration by a U.S. judge in Delaware. Venezuela this month lost a separate appeal trying to block new creditors from attaching to the Delaware case.

Persons: Nicolas Maduro, Horacio Medina, Citgo, PDVSA's, PDVSA, Katherine Polk Failla, Marianna Parraga, Gary McWilliams, Matthew Lewis Organizations: U.S . Treasury Department, Treasury, Crystallex International, ConocoPhillips, Siemens Energy, Tree Investments, U.S, Huntington Ingalls Industries, ACL1 Investments, Rusoro, Koch Industries, New, Thomson Locations: Venezuela, Petroleum, U.S, Houston, Petroleos, Delaware, New York, Manhattan

☆ Germany plans tougher rules to shield critical infrastructure
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +1 min

BERLIN, July 17 (Reuters) - Germany's Interior Ministry wants to introduce measures aimed at protecting the country's critical infrastructure, according to a draft plan seen by Reuters on Monday, amid concern over foreign influence in certain areas of the economy. Minimum standards are to be set for operators, who will have to draw up resilience plans taking into account every conceivable risk. Russia's invasion of Ukraine, after which the Nord Stream oil pipelines were damaged in unexplained attacks, has put Germany and other European countries on high alert regarding critical infrastructure. The Interior Ministry aims to present a finalised bill to the cabinet by the end of the year, after which it would be put to parliament, where no major hurdles are expected. The ministry wants to nail down the definition of critical infrastructure, which spans areas such as energy, transport and telecommunications.

Persons: Christian Kraemer, Rachel More, Friederike Heine, Mike Harrison Organizations: Ministry, Reuters, Thomson Locations: BERLIN, Ukraine, Germany, Hamburg

☆ TotalEnergies faces second lawsuit over Uganda oil projects
▼ + stars: | 2023-06-27 | by ( America Hernandez | ) www.reuters.com time to read: +2 min

Companies TotalEnergies SE FollowPARIS, June 27 (Reuters) - Five activist groups have sued French oil major TotalEnergies (TTEF.PA) for a second time over its projects in Uganda and Tanzania in a Paris civil court, they said on Tuesday, after an earlier fast-track attempt was dismissed in February. Their lawsuit makes use of a 2017 French "duty of vigilance" law requiring large companies to identify risks in their global operations and supply chains, and detail strategies to prevent them. The first suit sought - and failed - to halt the projects by judicial order under a special fast-track process, with the judge finding that TotalEnergies' so-called vigilance plan was legally adequate. This latest legal attempt instead seeks reparations for those who claim they have already been harmed as a result of the project construction. Allegations run from lack of timely payment for land on which the pipeline will be built, to damaged houses from flooding during construction of oil processing facilities.

Persons: TotalEnergies, America Hernandez, Jan Harvey Organizations: Friends, Oil Pipeline, Thomson Locations: PARIS, Uganda, Tanzania, Paris, France, French, EACOP, Uganda’s Lake Albert, Tanga

☆ Analysis: Nigeria's Tinubu faces daunting hurdles after reform sprint
▼ + stars: | 2023-06-27 | by ( Macdonald Dzirutwe | ) www.reuters.com time to read: +6 min

Nigeria today faces record debt, unemployment is worryingly high, and power shortages have contributed to years of anaemic growth. "The path to political power in Nigeria, over time, has always been through these vested interests," said Bismarck Rewane, CEO at Financial Derivatives Company in Lagos. ENTRENCHED NETWORKSTinubu's ambitions to build a $1 trillion economy in eight years could come unstuck in part due to chronic power shortages. Getting the lights on would be a major win, but to do so some say Tinubu must remove grid subsidies and cut red tape. Tinubu suspended the head of the financial and economic crimes agency, but has yet to outline an anti-graft plan.

Persons: Bola Tinubu, Jason Tuvey, Bismarck Rewane, Tinubu, Tunau Taiwo, Nnamdi Obasi, Prince Ojeabulu, Muhammadu Buhari, jihadists, beholden, Joe Bavier, Conor Humphries Organizations: New, Capital Economics, Financial Derivatives Company, International, Rensource Energy, Nigeria Delta, Observers, Thomson Locations: Nigeria, LAGOS, New Nigerian, Lagos

☆ Israel to build fibre-optic link between Europe and Asia
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

JERUSALEM, June 18 (Reuters) - Israel will build a 254-kilometre (158 mile) fibre-optic cable between the Mediterranean and Red Sea, creating a continuous link between Europe and countries in the Gulf and Asia, the Finance Ministry said on Sunday. The project, said EAPC Chief Executive Itzik Levy, "will position Israel as a communication land bridge connecting the Gulf countries and Asia to Europe." It will be available to any telecom company licensed in Israel under a 25-year lease, the ministry said. EAPC, or the Europe Asia Pipeline Company, offers its pipeline as an alternative to the Suez Canal. The ministry said the fibre-optic deployment along the pipeline route will help monitor any changes in terrain and detect possible leaks.

Persons: Itzik Levy, Ari Rabinovitch, James Mackenzie, David Evans Organizations: Finance, Sunday . State, Israel, Europe Asia Pipeline Company, Thomson Locations: Israel, Red, Europe, Gulf, Asia, Ashkelon, Eilat, Suez

☆ Judge orders Enbridge to shut down portions of Wisconsin pipeline within three years
▼ + stars: | 2023-06-17 | by ( Clark Mindock | ) www.reuters.com time to read: +2 min

The pipeline carries 540,000 barrels of oil per day from Canada through the Great Lakes region. An Enbridge spokesperson said on Saturday the company plans to appeal the judge's order. Enbridge said in court filings ahead of the judge's action that a hasty shutdown of the pipeline was unnecessary and would cause "extreme market turmoil." The company has proposed re-routing the pipeline around the tribal reservation, but has not received federal approvals to do so. The judge in November said significant erosion that could cause a rupture was unlikely, but told the parties to develop a shutdown plan anyway.

Persons: William Conley, Conley, Enbridge, Clark Mindock, Will Dunham Organizations: Thomson Locations: U.S, Canadian, Wisconsin, Madison, Canada, United States, New York

☆ Russia repels Ukrainian drone attack on Druzhba oil pipeline station, governor says
▼ + stars: | 2023-06-17 | by ( ) www.reuters.com time to read: 1 min

June 17 (Reuters) - Russian air defence units repelled a Ukrainian drone attack overnight on a pumping station on the Druzhba oil pipeline in the Bryansk region adjoining Ukraine, the region's governor said on Saturday. Three Ukrainian military drones were destroyed in the attack in the Novozybkov district, Alexander Bogomaz wrote on Telegram. Drone attacks inside Russia have been increasing in recent weeks, frequently targeting energy facilities. Russia blames Ukraine although Kyiv does not publicly acknowledge responsibility for them. The southern branch of the Soviet-era Druzhba pipeline crosses Ukraine and, despite the conflict there, continues to supply crude oil to Hungary, Slovakia and the Czech Republic.

Persons: Alexander Bogomaz, Kevin Liffey, Frances Kerry Organizations: Reuters, Thomson Locations: Ukrainian, Bryansk, Ukraine, Novozybkov, Russia, Kyiv, Hungary, Slovakia, Czech Republic

☆ Exclusive: Canada's TC Energy laying off staff
▼ + stars: | 2023-06-06 | by ( Nia Williams | ) www.reuters.com time to read: +1 min

June 6 (Reuters) - Canada's TC Energy (TRP.TO) is cutting some jobs to "optimize value" a company spokesperson said on Tuesday, without giving details of how many positions have been impacted. News of the job cuts at TC Energy comes a week after Suncor Energy (SU.TO) told employees it would eliminate 1,500 jobs. Earlier this year, Imperial Oil IMO.TO cut the number of contractors working at its Kearl oil sands project. TC Energy said the company continually reviews its operations and as the business evolves some positions are reduced. "These decisions are difficult but necessary to optimize the value for our business," a TC Energy spokesperson said in an email.

Persons: Rich Kruger, Nia Williams, Denny Thomas, Lisa Shumaker Organizations: Canada's TC Energy, TC Energy, Suncor Energy, Imperial, Keystone, Thomson Locations: Calgary, Suncor, North America

☆ Canada facing rising threat from cyberattacks - defence minister
▼ + stars: | 2023-06-03 | by ( Joe Brock | ) www.reuters.com time to read: +2 min

SINGAPORE, June 3 (Reuters) - Canadian Defence Minister Anita Anand said on Saturday that the country's critical infrastructure was increasingly being targeted by cyberattacks, posing a significant threat to the economy of the world's fourth-largest crude oil producer. In an interview on the sidelines of an Asian security summit in Singapore, Anand said there had been an increase in cyberattacks across North America, although she did not attribute the strikes to any state-sponsored actors. Canada is home to a number of large oil pipelines that are important for global crude supplies. Multinational energy companies like Exxon Mobil (XOM.N) and Royal Dutch Shell (SHEL.L) have major operations in the country. Anand was speaking at the Shangri-La Dialogue, Asia's top security meeting, where rising tensions between the United States and China have dominated proceedings.

Persons: Anita Anand, cyberattacks, Anand, Joe Brock, Raju Gopalakrishnan Organizations: Canadian Defence, U.S . State Department, Exxon Mobil, Royal, Shell, Thomson Locations: SINGAPORE, China, Singapore, North America, Canada, United States, Beijing, Asia, Pacific

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