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Venezuela's interim President says US energy agreement will last 25 Years
Delcy Rodriguez, Venezuela's interim president, said on Saturday that an energy deal with the United States would remain in force for a period of 25 years. The agreement would be in place for 25 years, and aim to increase crude production up to 1.5 million barrels a day (bpd). It will also preserve Venezuela's sovereignty in relation to its natural resources. In a late night address, Rodriguez described the agreement as "historic", saying that it would revitalize the economy and increase government revenues. He also said the deal would help shape the future of the country. Rodriguez told state broadcaster VTV that the project, which spans 25 years, involves 17 strategic oilfields and a target production of 1.5 million barrels a day. This figure is based on the bilateral agreement between Venezuela and the United States. Rodriguez said that the 1.5 million barrels per day target set in the agreement was just an initial goal. The broader plan included the development eight greenfield oil block as part of a larger expansion of the energy sector of the country. Donald Trump announced plans on Friday to have the U.S. take a partial control over Venezuela's vast reserves of oil. He believes that American companies can help the South American nation's energy industry, which has been shattered by the recession. They also believe they can provide a new supply of crude oil to lower U.S. gasoline prices. Trump gave few details about the agreement. He said that the U.S. secured majority control over more than 65 billion bbls of Venezuela's proven reserves of oil through a partnership between private businesses. Venezuela is the country with the largest oil reserves in history, but its production has been far below potential due to years of mismanagement, sanctions and underinvestment. Rodriguez stated that the agreement would generate approximately $209 billion for the Venezuelan government, based upon a benchmark price of $65 a barrel. However, she did acknowledge that crude prices can fluctuate. She said that roughly $19 of each barrel produced and purchased under the agreement would go directly to Venezuela. This would provide a significant boost in government revenue. She stated that the country retains "ownership and sovereignty" of its natural resources "while leveraging the capital, technology, and operational expertise in order to support the recovery and recovery of a strategically important?industry which has been severely impacted by sanctions." On Saturday morning, dozens pro-government groups protested against the U.S. military presence in Venezuela. Rodriguez said that the agreement would boost economic growth and increase revenue for the government following Trump's announcement. Venezuelan officials are preparing to sign next week agreements?granting new rights for oil exploration and production to several companies, including U.S.-based firms. Two sources familiar with the negotiations told us on Friday that Chevron would be among the companies to complete the transition of its Venezuelan joint-ventures into the new energy framework in the country.
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WSJ reports that the US will take a 35% stake in Venezuelan oil mogul Betancourt’s venture.
The Wall Street Journal reported on Saturday that the U.S. Government plans to acquire a 35% passive stake in North American Blue Energy Partners of Venezuelan businessman Alejandro Betancourt, citing "people" involved in the negotiations. The WSJ reported that the U.S. plans to also secure preferential rights for the purchase of 20% of the production costs at the company. The Pentagon's Office of Strategic Capital intends to?structure the investment through penny-warrants that would give the U.S. a?equity ownership in the business? without significant capital investments, according to the WSJ. The report was released just a day after U.S. president Donald Trump announced?on Friday? that the U.S. will take 'control' of a fifth of Venezuela’s vast oil reserves. Trump gave few details, saying that the U.S. secured majority control over more than 65 billion barrels (proven) of Venezuela's oil reserves by partnering with private businesses. Sean Parnell, the chief Pentagon spokesperson, responded to a comment request by saying: "The Office of Strategic Capital (OSC), does not own equity stakes in private companies." OSC is only allowed to provide 'capital assistance, in the form a loan, a loan guarantee or technical assistance, including transaction structuring, for developing and funding investments. North 'American Blue Energy Partners and the?White House?didn't respond to comments made outside of regular business hours.
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In record numbers, hungry bears invade US West homes and shops
Matt Errico, sitting on his toilet in Colorado, heard noises. After a brief stare-off, they bolted out of the front door. After a?staring match, the two bears bolted from the front door. Errico had seen bears in his garbage before, but this was the first time. Errico, a small mountain town located about 57 miles (92 kilometers) northwest of Denver, said, "I've never heard of cubs being inside someone's home." Black bears have been spotted also in a Granby vapor shop. They are among the thousands of black bears that are heading to towns and cities in the U.S. West at record numbers. According to bear experts and state wildlife agencies, bears wandered around a Santa Fe school, New Mexico; climbed trees near a Denver farmers' market and surprised people in other places across the nation after the driest, most arid winter in history wiped out the plants, grasses and nuts which make up 90% of their diet. Animals' amazing sense of smell draws them to food. According to wildlife agencies, this is leading to record-breaking bear deaths as hundreds of them are killed, shot, or electrocuted when they interact with humans. Testing the Bears With West's aridification predicted to continue, experts are concerned that bears could become habituated to eating human food or even stop hibernating if winters get too warm and food becomes scarce. Black bear expert Jon Beckmann explained, "It is like testing the bears and humans in a new way. People have moved into areas that bears once used to hunt for food. In states such as Nevada, where they were nearly wiped out a century earlier, bear populations are on the rise. According to Colorado authorities, black bears are the most healthy of the eight bear species in the world. There are between 17,000 and 20.000 bears living there. Colorado Springs, Vail and other cities in that state are now surrounded by bears because of the increase in human population. Colorado, home to only black bears, had 7,000 bear sightings last year, according to the wildlife agency of the state. This is more than the previous record set in 2019. At least six bear attacks have occurred in the state. Jonathan Livingston, spokesperson for Colorado Parks and Wildlife, says that between 1.5% and 2% of sightings result in euthanasia. Bears are usually killed when they're deemed dangerous. For example, when they attack people or break into houses. Wildlife agencies need to do more to avoid conflicts, say conservation groups such as the Colorado Bear Coalition. Livingston said that if people report bears to authorities early, officials are able to avoid euthanasias by scaring the animals away. New Mexico wildlife agency reports that officials and landowners have killed 187 black bears, the highest number since 2011. The agency has relocated 36 adults and 16 cubs. Police reported that a bear attacked a man last week in New Mexico, the first such attack in the state in 25 years. Utah authorities have reported that they have euthanized a total of 39 animals this year, a record number for any full year. The wildlife agency of Montana said that sightings in Montana are too many to count. Grizzlies have been moving into areas where they had not visited for decades. According to the wildlife agency, 24 grizzlies died in 2014. Most of them were killed by attacking livestock, people, or cars. A grizzly killed a man in Montana's Glacier National Park last May. Few fatal bear attacks are reported in the West each year. BEARMAGGEDON? Authorities are urging residents to use bear resistant garbage bins and not leave trash cans on the streets for long periods of time. They also urge them not to put bird or pet food within reach of animals. Livingston explained that many clashes begin with someone dumpster diving. They can end up with a black bear weighing 200 to 400 pounds (91-181 kilograms) with razor-sharp claws of 3 to 4 inches (8-10 cm). Heather Reich, a Nevada bear expert, hopes that drought conditions will ease and the animals will return to the wilderness. She fears that bears are just starting to gain weight in preparation for hibernation. We can't imagine how September and October will look. It's going to be Armageddon," said Reich. A former bear manager at Nevada's Wildlife Agency, Reich now sells doormats that emit an electric charge to keep bears out of homes. (Reporting from Andrew Hay in New Mexico, Editing by Donna Bryson & Mark Porter)
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Sources: Gunfire and explosions at Niamey's airport and perimeter of the presidency in Niger
According to two witnesses, gunfire and explosions were heard in several parts of the capital city, Niamey on Saturday morning. The cause of the explosions and gunfire is not known. The city, and more specifically the complex that houses the international airport, and the military airbase, experienced major unrest for the third time this year. This highlights the persistent insecurity of the military-led regime which took power in a 2023 coup, promising to restore order. Security sources reported that "terrorists'" attacked the Diori Hamani International Airport and tried to breach the perimeter security around the presidency. Witnesses reported hearing heavy gunfire near the presidency. Bana Wagana Ibrahim is a member of Niger’s Bureau of the Consultative Council, and a delegate in the Alliance of Sahel States Parliament (AES). He said on Facebook that attackers targeted the military base, Base 101, but security forces had recovered control. Ibrahim wrote: "Another cowardly assault on Base 101? and once again, our defence forces and security forces made sure... situation under control." A witness, however, reported that there was 'further gunfire and heavy explosions at the airport in the early morning hours following Ibrahim's posting. Another security source said that security forces launched massive operations, and that attackers were "neutralized", while others fled. We could not independently verify Ibrahim's and the sources of security. The military government of Niger was not available to comment immediately. NIGER IS KEY URANIUM PRODUCER Since a coup in July 2023 that removed President Mohamed Bazoum, the Niger has been ruled militarily. Despite promises by its military leaders to improve security, Burkina Faso continues to fight islamist insurgencies that are linked to?al Qaeda or Islamic State. West Africa's al Qaeda -affiliated group claimed responsibility for a?attack in June on the airport at Niamey, five months after Islamic State Sahel Province had targeted the site. Since gaining power, Abdourahamane Tiani’s?junta shifted away Western partners, deepened ties to Russia, and broke with the regional ECOWAS group, joining Mali, Burkina Faso, and forming the AES breakaway bloc. Niger's unrest comes at a time when authorities are tightening control over the country's uranium industry, after seizing assets from France Orano. Niger was a major supplier of nuclear fuels to Europe, with about 15% of Orano’s uranium at full capacity. According to a government decree, last week the government redistributed former Orano uranium and GoviEx permits to state-backed firms.
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The risk of a lake bursting near the China-Nepal border disaster area is decreasing
Chinese authorities reported on Saturday that the threat of a large lake forming after a 'glacier collapse' near the border between China and Nepal, where a deadly flood occurred earlier this week, has diminished. Satellite images taken from Thursday morning to Saturday morning show that the water flowing through the lake, which straddles the China-Nepal boundary at the confluence two rivers, has been decreasing the reservoir slowly, according to state broadcaster CCTV, citing the Water Resources Ministry. Satellite images of the lake surface at Purepu Tsangpo River showed that it was around the size 14 football fields combined on Saturday morning. This is a 21,000 sqm reduction compared to Thursday's images. A massive glacier slide on Wednesday sent a torrent of rocks, ice, and debris down the Himalayan river systems, washing away a complex of border ports linking China's Tibet with Nepal. Hundreds were killed, while thousands are still missing. Authorities and experts have warned of the high risk of secondary disasters, particularly from the lake formed by glacier debris. This could endanger rescue operations downstream. China Anneng, a state-owned engineering and safety enterprise, has been monitoring Lake Tai since Thursday. On Friday, a 15-member group was sent with reconnaissance drones and portable satellite stations, as well as mobile surveillance cameras, to collect more information about the lake. A lake overflow on Friday temporarily stopped rescue efforts until further assessment determined that the risks were manageable. Authorities have also marked another large body of water below the collapsed glacier. The depth of the mudslide is not known, said Chen Hongqi a senior engineer with the Geological Disaster Technical Guidance Center of Ministry of Natural Resources. An official from Nepal's Disaster Management Authority said that flood risks would?remain" until the two lakes had been completely drained. According to CCTV, in a 'bleak rainy morning on Saturday, more than fifty rescue workers searched through the grey rubble and mud of boulders looking for any survivors and calling out. On Friday afternoon, a first team of search and rescue dogs had arrived at the location of the Gyirong Border Crossing Complex. They described it as nothing but ruins. Xinhua, the state news agency, said that the Chinese relief efforts continue to be challenged by the dangerous conditions in the main disaster area, which are made more complicated because roads and communications have been cut off. China's death toll from the disaster grew to seven early on Saturday morning, with 554 people still missing. Xinhua reported that a total of 555 tourists, including nearly 500 villagers, construction workers and all 555 tourists, have been evacuated from the affected area.
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Foreign Minister says Nepal needs assistance in technical areas and not in search and rescue.
Nepal is in need of foreign assistance in areas such as search and rescue and specialised technical fields, which are not its expertise, following the devastating flood that struck its Himalayan border area with China last week. The collapse of a glacier on Wednesday released a torrent of rocks, ice, debris and mud into the Himalayan river systems. Nearly 600 people were killed in Nepal, China, Tibet, while more than 2,000 are still missing. Shisir khanal stated that Kathmandu needed foreign assistance in areas like rescuing people trapped in tunnels, opening communication and transport services where bridges were destroyed, identifying?dead bodies, DNA testing, and storing corpses for longer periods. Khanal, late Friday night, said that "we have already requested such specialised services as well as technical assistance in the areas where we lack expertise and know-how." The giant neighbours India and China, between whom this poor Himalayan nation is wedged, were asked to allow bailey bridges in the disaster-hit region, where two dozen bridges had been destroyed, to reopen as soon as possible. On Friday, the Nepalese foreign ministry said that Kathmandu was able to manage rescue efforts on its own and had declined foreign involvement. Khanal, when asked about the stance taken by his government, said that there was no need for?assistance in general?search and rescue?which was being done?by Nepali rescuers. He said, "We don't think this needs to be repeated."
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Trump: U.S. oil deal with Venezuela.
On Friday, U.S. president Donald 'Trump' said that the U.S. entered into an oil agreement with Venezuela. Trump said on Truth Social that Secretary of State Marco Rubio and Secretary of war Pete Hegseth had secured the majority U.S. ownership of more than 65 BILLION BARRELS of proven oil reserves in Venezuela. This was done at no cost to American taxpayers. Trump claimed that the agreement would double American oil reserves. The U.S. has been promoting American investments in the deteriorated Venezuelan energy industry since January when it?captured? and removed? former President Nicolas Maduro. The Trump administration is under pressure to lower gasoline prices ahead of the midterm elections later this year. This could be achieved by reducing oil supply costs and increasing production. The U.S. has also been searching for ways to?replenish the Strategic Petroleum?Reserve (the oil stockpile), including the possibility of swapping crude with U.S. producers. Reporting by Costas Pittas and Christian Martinez, Editing by Jasper Ward & CaitlinWebber
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Moody's changes Nigeria's outlook from 'negative' to 'positive'
Moody's ?on Friday revised Nigeria's outlook ?to "positive" from "stable", citing the country's improved ability ?to withstand ?external shocks ?due to ?its increased foreign exchange reserves and stronger-than-expected economic growth. Africa's third largest economy, which is also a major oil exporter, has benefited from the rise in crude prices caused by the Middle East conflict, as well as the increase in refined petroleum products exported, boosting its current account surplus. Moody's expects that the West African nation's excess "will?remain substantial even with materially lower oil prices." The World Bank projected Nigeria's economy to grow by 4.2% in 2026. They also said that fiscal discipline, tighter monetary policy, and higher oil revenues could help to?strengthen the macroeconomic stability of Nigeria and contain inflation. Moody's has confirmed the country's rating at "B3", as it reflects fiscal pressures due to limited revenue generation?capacity and weak debt affordability. In May, S&P Global Ratings upgraded Nigeria's sovereign rating from "B-" to "B", citing improved creditworthiness and sustained structural reforms. A month earlier, Fitch had affirmed Nigeria's "B" rating with a stable outlook.
China identifies 261 missing foreigners in Himalayan mudslide
China said on Sunday that 261 foreigners from 23 different countries were missing on the Tibetan border with Nepal after a mudslide which ripped through the Himalayan area. The death toll for Tibet is now 16 people.
At a press briefing, officials from China's Tibet Autonomous Region stated that the largest number of foreigners missing was from Nepal, with 104. Also unaccounted for were 49 Indians, 33 Latvians, 18 Americans and 15 British nationals. Beijing authorities have informed foreign missions, they said.
This was the first nationality breakdown from the Chinese since Wednesday's collapse of a ice sheet?released a torrent of rock, mud, and debris into Himalayan rivers.
As of Saturday evening, authorities reported 16 deaths in Gyirong County and 546 missing people.
The disaster authority in Nepal reported that at least 675 deaths occurred on the Nepalese side of the border.?2,498 people are still missing, and 7,514 people have been rescued.
Residents and rescue workers were reportedly'moved up to higher ground by local police after the water level in the nearby Trishuli River grew over the last few hours. This highlights the danger of further flooding, even while rescue efforts continue.
CHINA LINKS GLOBAL WINTER WARMING TO DISASTER
Chinese state broadcaster CCTV said the disaster was caused by "glacier instability due to the long-term impacts of global warming". It is "a new and prominent feature of the cryosphere catastrophes" on Tibet's plateau.
CCTV, citing Chinese scientists, reported that it took between six and seven minutes for the mudslide to reach the Gyirong crossing from the Nepalese border.
The surveillance footage showed that torrents of debris and water were engulfing the buildings as people fled.
In a Saturday telephone call, China's foreign minister Wang Yi informed his?Nepalese equivalent that the mudslide had been their "most serious cross-border catastrophe" in recent times, and that rescue efforts were unprecedented in difficulty and complexity.
China has mobilised more than 2,100 rescue workers to assist in relief efforts and committed at least 220 millions yuan (about $32.7 million) for the cause. The?state broadcaster also said that it is providing emergency cash assistance, disaster relief supplies and satellite and hydrological information to Nepal.
CCTV reported that the countries were working together to identify missing citizens, foreign nationals and strengthen cooperation in disaster mitigation and climate change response.
The Red Cross estimates that more than 90 000 people may have been affected.
(source: Reuters)