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We continue to encourage all countries to take tangible measures to halt the flow of arms, aviation fuel, and revenue to the military regime," U.S. Secretary of State Antony Blinken said in a separate statement. Canada imposed sanctions against 39 individuals and 22 entities for supporting Myanmar's military regime. The U.N. human rights expert for Myanmar in September called on the United States to further tighten sanctions on the country's military rulers to include the state oil and gas enterprise. Human rights advocates have repeatedly called for sanctions on MOGE, but Washington had so far held back. Myanmar military officials have played down the impact of sanctions.

Persons: Stringer, Washington, Antony Blinken, Brian Nelson, Simon Lewis, Daphne Psaledakis, Tim Gardner, Sarah Young, Ismail Shakil, Chizu Nomiyama, Rod Nickel Organizations: Army, Bank, REUTERS, Rights, Myanma, Gas Enterprise, U.S . Treasury Department, Reuters, Treasury, Financial, United Nations, Terrorism, Financial Intelligence, Chevron Corp, Chevron, Washington, Myanmar Foreign Trade Bank, Myanma Investment, Commercial Bank, Sky Royal Hero Company, General Staff, Myanmar's Army, Navy, Air Force, Thomson Locations: Yangon, Myanmar, United States, Washington, U.S, United Kingdom, Canada, Britain

☆ Southwest Airlines profit falls, expects higher deliveries from Boeing in 2023
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 26 (Reuters) - Southwest Airlines (LUV.N) reported a third-quarter profit on Thursday that fell about 30% on soaring labor and fuel costs and the budget carrier said it expects higher aircraft deliveries from Boeing (BA.N) in 2023. Last month, Southwest Airlines raised concerns about rising fuel costs and weaker leisure bookings in August, citing seasonality trends. Southwest expects fourth-quarter operating revenue per available seat mile, a proxy for pricing power, to decrease by 9% to 11% compared with last year. Southwest Airlines also forecast capacity to increase by 15% in the current quarter, once adjusted for the operational disruption faced by Southwest in December last year. Southwest Airlines reported a profit of $193 million, or $0.31 per share, in the third quarter, from $277 million, or $0.44 per share, a year earlier.

Persons: Mike Blake, workgroups, Bob Jordan, Shivansh, Shounak Dasgupta Organizations: REUTERS, Southwest Airlines, Boeing, U.S, Southwest, Boeing's, Thomson Locations: Kahului, Maui, Hawaii, U.S, Bengaluru

SPREAD TOO THINA major drawback for potential green hydrogen users is that there has been too little of the stuff available to allow for much real world testing. Yet these train systems have occupied the time and attention of hydrogen system developers that may have been better spent elsewhere. And as heat pumps have been making rapid inroads into home heating markets across Europe and elsewhere in recent years - at a fraction of the cost of a potential hydrogen set up - it is clear that household hydrogen applications will remain scarce. LADDERING UPThe most promising areas for potential hydrogen use have been highlighted by industry analyst Michael Liebreich in his so-called Hydrogen Ladder. Rather than attempt to deploy hydrogen against lower-cost options in homes and transport systems, Liebreich suggests that the hydrogen industry pursue demand opportunities in helping heavy industry to decarbonise.

Persons: Michael Liebreich, Gavin Maguire, Stephen Coates Organizations: International Energy Agency, Reuters, Thomson Locations: LITTLETON , Colorado, Germany, Europe

☆ Europe’s oil majors are stuck as M&A party-poopers
▼ + stars: | 2023-10-26 | by ( Yawen Chen | ) www.reuters.com time to read: +4 min

Oil pump jack is seen in front of displayed U.S. dollar banknote and decreasing stock graph in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Oct 26 (Reuters Breakingviews) - Back in June the boss of $220 billion UK oil major Shell (SHEL.L), Wael Sawan, told investors mergers and acquisitions were not his priority. The decision of $430 billion Exxon Mobil (XOM.N) and $295 billion Chevron (CVX.N) to acquire $60 billion Pioneer Natural Resources (PXD.N) and $53 billion Hess (HES.N) respectively ought to change the game. But it would remain a stretch for either to ape their U.S. peers and buy a big oil group. Hess investors will receive 1.025 shares of Chevron for each share held, worth $171 per share based on the closing price on Oct. 20.

Persons: Dado Ruvic, Wael Sawan, Hess, Murray Auchincloss, Patrick Pouyanné, ’, Shell, Neste, Warren Buffett’s, Pouyanné, George Hay, Streisand Neto Organizations: REUTERS, Reuters, Exxon Mobil, Chevron, Natural Resources, Exxon, Shell, Occidental Petroleum, Exxon Mobil’s, Thomson Locations: Finnish, Denmark, U.S, Occidental

Intra-European travel has been doing very well," said aviation analyst James Halstead, adding that limited planes meant ticket prices could stay high. Britain's easyJet (EZJ.L) said earlier this month it wanted to more than double profits and expand its fleet, even though fuel prices could mean higher ticket prices. Spot Northwest European jet fuel prices were at $957 per metric ton on Wednesday, up 5% from before the assault. JET FUELSome airlines have already warned that rising fuel costs will drive up ticket prices or dampen future earnings. He said ticket prices could go up by a mid-single digit percentage ahead of Christmas.

Persons: Charles de, Benoit Tessier, James Halstead, You've, Michael O'Leary, it's, Neil Glynn, Alexander Irving, Bernstein, Agata Rybska, Natalie Grover, Josephine Mason, Mark Potter Organizations: Lufthansa Airbus, Charles de Gaulle International Airport, REUTERS, Air France, KLM, Lufthansa, Air, Brent, JET, Ryanair, Air Control, Thomson Locations: Charles de Gaulle, Roissy, Paris, Israel, Palestinian, Europe, Air France, Ukraine, Gdansk, London

NEW YORK (AP) — Qatar Airways Group chief executive Akbar Al Baker is stepping down after 27 years leading the company. Al Baker's retirement will go into effect Nov. 5, Qatar Airways said Monday. In Monday's announcement, Qatar Airways said that it “has grown to become one of the most recognisable and trusted brands globally” under Al Baker's leadership. During his tenure at Qatar Airways, Al Baker became known for being one of the most outspoken leaders in the airline industry — with a hard-changing, sometimes confrontational approach that carried into negotiations with manufacturers and others. Qatar Airway's earned revenue of $20.9 billion over the fiscal year, up from $14.4 billion the year before.

Persons: Akbar Al Baker, Al Baker's, Badr Mohammed Al, Meer —, Al Baker, ” Organizations: — Qatar Airways Group, Qatar Airways, Hamad International Airport, FIFA, Qatar, Qatar Airway's Locations: Doha, Qatar

☆ American Airlines beats profit estimates, sees strong holiday bookings
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

An American Airlines Airbus A321-200 plane takes off from Los Angeles International airport (LAX) in Los Angeles, California, U.S. March 28, 2018. REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 19 (Reuters) - American Airlines (AAL.O) on Thursday beat estimates for third-quarter adjusted profit and said bookings for the upcoming holiday season have been stronger than last year, sending its shares up 1.6% in premarket trading. American Airlines reported an adjusted profit of 38 cents per share for the quarter ended Sept. 30, beating analysts' average estimates of 25 cents per share, according to LSEG data. It now expects an adjusted profit of $2.25 per share to $2.50 per share for the year, compared with its previous forecast of $3 to $3.75 per share. The company expects its fourth-quarter total revenue per available seat mile (TRASM), a proxy for pricing power, to be down about 5.5% to 7.5%, compared with the year-earlier period.

Persons: Mike Blake, Robert Isom, Shivansh, Anil D'Silva Organizations: American Airlines Airbus, Los Angeles International, REUTERS, American Airlines, CNBC, Jet, Thomson Locations: Los Angeles , California, U.S, Fort Worth , Texas, Bengaluru

☆ The marketing failure that's going to kill us all
▼ + stars: | 2023-10-19 | by ( Jake Safane | ) www.businessinsider.com time to read: +12 min

A good example of bad climate marketing comes from the Irish budget airline Ryanair. Carbon offsets involve contributing money to a project that will help avoid, reduce, or remove carbon emissions from the atmosphere, such as planting trees or building wind farms. Some of the most successful corporate efforts at climate marketing place more emphasis on consumers' personal concerns. According to the International Energy Agency, global carbon emissions reached a record high last year. The more you focus on what everyday people care about, Berger said, the more effective your marketing campaign will be.

Persons: they've, —, Jonah Berger, that's, Jonathan Ernst, Biden, Jenna DiPaolo, DiPaolo, John Oliver, Oliver, Ben Forman, Ryanair, Forman, " Forman, Tesla, " Berger, Berger, Jake Safane Organizations: Keystone XL, Pew Research, Wharton School, University of Pennsylvania, REUTERS, National Petroleum Reserve, Greenpeace, Wildlife, Ryanair, International Monetary Fund, International Energy Agency, United Nations Locations: Canada, Alaska, Greenpeace USA, Ireland, Phoenix

REUTERS/Bing Guan/File Photo Acquire Licensing RightsWASHINGTON, Oct 19 (Reuters) - U.S. oil refiners have cranked up output of diesel, heating oil and jet fuel for winter but are struggling to turn a profit because gasoline margins have fallen over 80% since the summer driving season ended. Refiners, which typically produce more distillates such as diesel and heating oil in autumn, are trying to rebuild inventories of these fuels that are near seasonal record lows. While fuel makers focus on maximizing distillate output, they inevitably produce gasoline as well. Meanwhile, Russia's short-lived diesel export ban, along with less refinery capacity and Western sanctions on Russian diesel, have hit diesel inventories and tightened supplies. Shortages have kept the U.S. heating oil crack at near $44 a barrel, nearly twice the seasonal average.

Persons: Bing Guan, fuelmakers, RIN, Laura Sanicola, Stephanie Kelly, David Gregorio Our Organizations: Phillips, Los, Los Angeles Refinery, Rights, Diesel, AAA, U.S ., U.S . Energy Information Administration, Thomson Locations: Los Angeles, Carson , California, U.S, Singapore, U.S . East

☆ US says lead emissions from small piston-engine aircraft pose public health danger
▼ + stars: | 2023-10-18 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Oct 18 (Reuters) - The U.S Environmental Protection Agency on Wednesday issued a final determination declaring that emissions from aircraft that use leaded fuel pose a danger to public health, following years of study. Aircraft that do use leaded fuel are typically small piston-engine planes that carry two-10 passengers and are around 45 to 47 years old. The EPA's review of lead emissions from aircraft dates to 2006, when it received a petition asking for regulation of lead emissions from privately owned airplanes. While levels of airborne lead in the United States have declined 99% since 1980, piston-engine aircraft are the largest remaining source of lead emissions into the air. Reuters first reported in January 2022 that the EPA was again reviewing whether emissions from piston-engine aircraft operating on leaded fuel contribute pose a danger to public health.

Persons: Michael Regan, David Shepardson, Leslie Adler Organizations: U.S Environmental Protection Agency, Aircraft, EPA, Federal Aviation Administration, FAA, Reuters, Thomson Locations: U.S, United States

Shares of United Airlines tumbled more than 7% on Wednesday morning and took the rest of the industry down with them after the carrier gave a gloomy outlook for fourth-quarter profit, which will be reduced by rising jet fuel prices. In addition, United's revenue could be disappointing the longer that flights to Israel are suspended for the Israel-Hamas war. United reported after the market closed Tuesday that it earned $1.14 billion in the third quarter, beating Wall Street expectations for profit and revenue. Investors, however, focused immediately on the airline's prediction that fourth-quarter earnings would be between $1.50 and $1.80 per share, well below analysts' forecast of $2.09 per share. All three suspended their service shortly after Hamas militants attacked Israel on Oct. 7.

Persons: ” Cowen, Helane Becker, Becker Organizations: United Airlines, ”, Delta Air Lines, American Airlines Locations: Israel, Tel Aviv, San Francisco , Washington, Newark , New Jersey

United Airlines says that it will start boarding passengers in economy class with window seats first starting next week, a move that will speed up boarding times for flights. The plan, known as WILMA, for window, middle and aisle, was tested at four domestic locations and one hub. Those with window seats will board first, followed by those with middle seats and then those with aisle seats. United and many other airlines halted the flights shortly after Hamas militants attacked Israel on Oct. 7. Shares of United Airlines Holdings Inc. fell more than 8% Wednesday.

Persons: WILMA, There's, United Organizations: Airlines, United, Tel, United Airlines Holdings Inc Locations: Tel Aviv, Israel

☆ Stocks making the biggest moves midday: United Airlines, Nvidia, Morgan Stanley and more
▼ + stars: | 2023-10-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Late Tuesday, the company posted third-quarter results that fell short of Wall Street's expectations on the top and bottom lines. The company posted third-quarter adjusted earnings of $1.55 per share on adjusted revenue of $1.14 billion. Abbott posted earnings of $1.14 per share, excluding items, beating analysts' estimates by 4 cents a share, according to FactSet. It posted revenue of $2.69 billion, which was not immediately comparable to consensus estimates. It posted revenue of $771.0 million, lower than the consensus estimate of $784.3 million, according to FactSet.

Persons: Morgan Stanley, . Hunt, Gamble — Procter, LSEG, Abbott, Michael Happe, —, Yun Li, Sarah Min, Tanaya, Hakyung Kim, Pia Singh Organizations: United Airlines —, United Airlines, Nvidia, U.S, Citi, Devices, Marvell Technology, Hunt Transport Services, LSEG, Interactive, Procter, Gamble, Abbott, Financial, Citizens Financial, State, FactSet, Winnebago Industries, Winnebago, Bancorp, U.S . Bancorp, Bank of America Locations: Tel Aviv, Israel, China, LSEG, Albemarle —

☆ United says pricier fuel, war in Middle East will weigh on profits
▼ + stars: | 2023-10-17 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Boeing 787-10 Dreamliner, from United Airlines company, taking off from Barcelona airport, in Barcelona on 28th March 2023. United Airlines said more expensive jet fuel and a halt to the carrier's Tel Aviv flights during the Israel-Hamas war will eat into its profits in the last three months of the year. United and other U.S. and international carriers halted their flights to Israel earlier this month. United had more service to Israel than any of the U.S.-based airlines with service from Washington D.C., Newark, New Jersey and San Francisco. Its costs, excluding fuel will likely rise between 3.5% and 5% in the fourth quarter from 2022, United said.

Persons: United Organizations: Boeing, United Airlines, Washington D.C, Delta, LSEG Locations: Barcelona, Tel Aviv, Israel, Chicago, U.S, Washington, Newark , New Jersey, San Francisco, United

United said its fourth-quarter adjusted profit would be between $1.50 and $1.80 per share, far short of Wall Street expectations for $2.09 per share. United and many other airlines halted the flights shortly after Hamas militants attacked Israel on Oct. 7. United said it set quarterly profit records for service to both Europe and Asia, as more Americans traveled beyond U.S. borders. United's report comes after rival Delta Air Lines posted a $1.1 billion profit last week. It predicted that fourth-quarter revenue would rise as much 11% compared with a year ago.

Persons: United, Christopher Raite Organizations: Airlines, Tel, United, Jet, Wall, Delta Air Lines, Air Line Pilots Association, Boeing, Airbus Locations: Tel Aviv, Israel, Chicago, Europe, Asia, U.S

☆ A desperate Russia may be just what North Korea needs to finally update its ancient Air Force
▼ + stars: | 2023-10-15 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

North Korean leader Kim Jong Un visited Russia in September on his first overseas trip since 2019. The visit was seen as Russia's attempt to secure North Korean support for Moscow's war in Ukraine. For North Korea, Russia's desperation may be a chance to get help upgrading its aging air force. Korean People's Army Air and Anti-Air ForceSouth Korean troops guard a MiG-19 that a North Korean pilot used to defect in May 1996. KCNA via REUTERSGiven the North Korean air force's needs, it's easy to see Kim's visit as something of a prospective shopping trip.

Persons: Kim Jong Un, —, Vladimir Putin, Sergei Shoigu, Kim, Putin, CHOO YOUN, Antonov, Mikhail Japaridze, Kim's, Kim strode, Shoigu, Sergey Kobylash, Denis Manturov, Kim Jong Organizations: North, Service, Russian Defense, Vostochny, Amur Aircraft, Knevichi, Korean People's Army Air, Air Force South, MiG, Getty, Air Force, North Korean, Defense Intelligence Agency, DIA, KCNA, REUTERS, Kremlin Locations: Russia, Ukraine, North Korea, Korean, Russian, Moscow, Pyongyang, KONG, AFP, Soviet Union, China, Komsomolsk, Vladivostok, Japan, Korea

Along with mild winter weather in much of the northern hemisphere, Chinese fuel exports helped avert widespread shortages of diesel, heating oil and gasoil. Russia's ban on diesel exports ahead of winter has sparked a new round of concerns of another supply shock. Chinese fuel exports are currently around 1.1 million barrels per day (bpd), down from last year's peak at 1.8 million bpd in December. China's fuel exports are subject to quotas, closely monitored by the global fuel trading community. China also has quotas for imports of crude oil that refiners use to make diesel and other products.

Persons: Meng Meng, John Kilduff, Matt Smith, Al Zour, Kpler, Laura Sanicola, Trixie Yapl, Simon Webb, David Gregorio Our Organizations: REUTERS, Total, Al, Diesel, U.S . East, U.S . Energy Information Administration, Thomson Locations: Boxing, Shandong Province, China, U.S, Ukraine, Europe, Americas, Brazil, Turkey, New York, Beijing, Russia, Iran, Venezuela, Asia, Middle, Western Europe, America, U.S . East Coast

Planes packed with summer travelers boosted Delta Air Lines to a $1.11 billion profit in the third quarter, and the carrier said Thursday that it expects revenue to keep rising into the holiday season. Profit was up 59% from a year earlier, as strong ticket sales — especially for premium seats and international flights — helped Delta shrug off higher labor costs. “I think we’re closing the year strong, and the holiday bookings that we see right now are pretty good,” CEO Ed Bastian said in an interview. For the fourth quarter, Delta said revenue will rise as much as 11% from a year ago and it will earn between $1.05 to $1.30 per share. Bastian expressed confidence that Delta and other carriers can raise prices enough to cover any increase in fuel expense.

Persons: “, Ed Bastian, Bastian, ” Bastian, We’ll, ” Organizations: Delta Air Lines, —, Travelers, JFK, Delta, Alaska Airlines, JetBlue, Revenue Locations: Delta, Atlanta, U.S, New

☆ Gasoline, food drive US producer prices higher; core inflation cools
▼ + stars: | 2023-10-11 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The so-called core PPI increased 2.8% on a year-on-year basis in September after climbing 2.9% in August. Wholesale goods prices increased 0.9%, with a 3.3% rise in the cost of energy products accounting for nearly three-quarters of the increase. Excluding the volatile food and energy components, core goods prices edged up 0.1% for the second straight month. This mostly reflected the normalization of supply chains, whose disruption fueled goods inflation in the aftermath of the COVID-19 pandemic. Though core inflation is cooling, higher gasoline and food prices could hamper progress by raising the cost of other goods as well as causing consumers to expect inflation to rise.

Persons: Sarah Silbiger, Christopher Rupkey, Will Compernolle, Alex McGrath, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: El Progreso Market, Washington , D.C, REUTERS, Labor Department, Federal Reserve, Treasury, Reuters, PPI, Reuters Graphics, Trade, Fed, Thomson Locations: Mount Pleasant, Washington ,, WASHINGTON, New York, East, Greenville , South Carolina

☆ Germany's Scholz targets green jet fuel role, Airbus investment
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +3 min

[1/2] German Chancellor Olaf Scholz and Transport Minister Volker Wissing attend the third national aviation conference at Lufthansa Technik, in Hamburg, Germany, September 25, 2023. Airbus (AIR.PA) is considering joining the consortium to use the fuel, HH2E said. Scholz also said Germany was targeting investment for a potential new plane to replace the Airbus single-aisle A320. "We would like to see further investment in aviation - not just in Hamburg, but throughout Germany, as part of the successor to the Airbus A320," he said. In July, Airbus expanded production of the same series in Toulouse, France, to meet rising demand.

Persons: Olaf Scholz, Volker Wissing, Fabian Bimmer, HH2E, Scholz, Carsten Spohr, planemaker, Andreas Rinke, Tim Hepher, Rachel More, Friederike Heine, Barbara Lewis, Sharon Singleton Organizations: Lufthansa Technik, REUTERS, Rights, Airbus, DHL, National Aviation Conference, EU, Industry, Lufthansa, SAF, Thomson Locations: Hamburg, Germany, Europe, France, German, Toulouse

REUTERS/Stringer Acquire Licensing RightsSept 25 (Reuters) - Oil prices rose on Monday as investors focused on a tighter supply outlook after Moscow issued a temporary ban on fuel exports while remaining wary of further rate hikes that could dampen demand. Both contracts fell last week, snapping a three-week winning streak, after a hawkish Federal Reserve stance rattled global financial sectors and raised oil demand concerns. Prices had rallied more than 10% in the previous three weeks on forecasts of a wide crude supply deficit in the fourth quarter after Saudi Arabia and Russia extended additional supply cuts to the end of the year. However, analysts flagged that oil prices face technical resistance at the November 2022 highs that were hit last week. In a positive sign, China's oil demand increased 0.3 million barrels per day (bpd) to 16.3 million bpd last week, partly due to a gradual recovery in jet fuel demand for international flights, they added.

Persons: Stringer, Tony Sycamore, Vandana Hari, Baker Hughes, Goldman Sachs, Mohi Narayan, Florence Tan, Sonali Paul, Christian Organizations: REUTERS, Brent, . West Texas, IG, Northern, Vanda Insights, Thomson Locations: Heilongjiang province, China, Moscow, Saudi Arabia, Russia, United States, Florence

☆ Oil climbs with tight supply back in focus
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose on Monday as investors focused on a tighter supply outlook after Moscow issued a temporary ban on fuel exports while remaining wary of further rate hikes that could dampen demand. Both contracts snapped a three-week winning streak to fall last week after a hawkish Federal Reserve stance rattled global financial sectors and raised oil demand concerns. Prices had rallied more than 10% in the previous three weeks on forecasts of a wide crude supply deficit in the fourth quarter after Saudi Arabia and Russia extended additional supply cuts to the end of the year. However, analysts flagged that oil prices face technical resistance at November 2022 highs that were hit last week. In a positive sign, China's oil demand increased 0.3 million barrels per day to 16.3 million bpd last week, partly due to a gradual recovery in jet fuel demand for international flights, they added.

Persons: Tony Sycamore, Baker Hughes, Goldman Sachs Organizations: Brent, . West Texas, IG Locations: Moscow, Saudi Arabia, Russia, United States, China

FRANKFURT, Germany (AP) — Oil prices have risen, meaning drivers are paying more for gasoline and truckers and farmers more for diesel. Here are things to know about the recent increase — and where prices might be going:WHY HAVE OIL PRICES RISEN? “The last thing you want to do is fuel inflation again with much higher oil prices. Diesel prices have risen as well, along with higher oil costs and refineries facing shortages of the specific kinds of crude best for making diesel. HOW DO HIGHER OIL PRICES HELP RUSSIA?

Persons: Jorge Leon, That's, Leon, ” Leon, “, ”, Thu, Nguyen, Commerzbank, Gary Peach, Benjamin Hilgenstock, Joe Biden, Biden, Josh Boak Organizations: —, Saudi, Brent, Rystad Energy, Energy Intelligence, U.S, AAA, Diesel, Kremlin, Kyiv School of Economics, Policy Center, Union, Group, U.S . Energy Information Administration, Associated Locations: FRANKFURT, Germany, Russia, Saudi, OPEC, China, Europe, U.S, Ukraine, Moscow, Brussels, Washington

☆ China's diesel exports surge in August, have nearly tripled so far in 2023
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +3 min

Total diesel exports for the first eight months of the year are up 197.2% versus the same period in 2022. Gasoline exports were up 23.7% to 1.38 million tons from 1.12 million tons in August last year. Jet fuel exports were 1.55 million tons, up 98.1% from 780,000 tons a year earlier. China's surging fuel exports have coincided with monthly refinery throughput rising to a record 15.23 million bpd in August. (This story has been corrected to say that domestic flight levels are around 17% above pre-pandemic levels, not 17% of pre-pandemic levels, in paragraph 7)Reporting by Andrew Hayley; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Stringer, refiners, Andrew Hayley, Christian Schmollinger Organizations: Dalian Airlines, REUTERS, Administration, Customs, Total, Domestic, Jet, Citi, Thomson Locations: Hohhot, Inner Mongolia, China, BEIJING

☆ More companies, especially airlines, warn higher costs will eat into profits
▼ + stars: | 2023-09-14 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

More companies are warning that a surge in the cost of fuel and employee pay hikes will eat into profits this quarter. Airlines, whose biggest expenses are jet fuel and labor, are getting hit particularly hard. The carrier said it is paying more for fuel than it expected but said maintenance costs were also higher than anticipated. U.S. jet fuel at major airports averaged $3.42 a gallon as of Tuesday, up 38% from two months ago, according to Airlines for America, an industry group. On Wednesday, American Airlines trimmed its earnings forecast, following revisions at Alaska Airlines and Southwest Airlines .

Organizations: Companies, Airlines, Delta Air Lines, U.S, Airlines for America, American Airlines, Alaska Airlines, Southwest Airlines Locations: Hollywood

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