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Dublin takes action to reduce fuel prices by removing blockades, as Irish police do
Irish police cleared Sunday 'tractors and trucks which?had blocked traffic?and blocked?oil infrastructure throughout the country in a wave protests against rising fuel prices. To ease discontent among consumers and businesses, the government announced tax reductions and spending increases totaling 500 million euros (586 million dollars) to help reduce the negative impact. Protesters angry by the more than 20% increase in diesel prices since the start of the Iran War, used vehicles to block an?oil?refinery and two ports. They also blocked a fuel terminal, Irish roads, and a fuel?terminal. The protests disrupted transport in Dublin and left a third (or more) of Ireland's fuel stations without fuel. Finance Minister Simon Harris described this as a "very danger moment" for Ireland. The police removed vehicles that were blocking the only oil refinery in Ireland on Saturday, cleared a blockade at Galway Port (a major fuel depot), and removed roadblocks on Dublin on Sunday. The government refused to negotiate with the protesters who included farmers and drivers, as well as contractors. They complained that a previous 250 million euro package temporarily reducing taxes on gasoline and diesel was not enough. Dublin, however, announced measures after talks with agricultural and transport groups. These included a reduction of 10 cents per litre for petrol?and diesel and a postponement of the increase in a carbon tax. The government announced that a fuel subsidy scheme would be implemented for agriculture and fishing. A survey in the Sunday Independent newspaper revealed that 56% of respondents supported the protesters. However, most of the supporters of the two ruling parties were against them.
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Nigerian airstrike on market in northeast Yobe, 200 people feared dead
Residents and a councillor in the area said that at least 200 people are feared to have died after Nigerian military planes struck a village's market on Saturday night while pursuing Islamist terrorists. Nigeria's Air Force claimed to have killed Boko Haram terrorists on the Jilli axis of Borno State, but did not mention a "market" in a Sunday statement. The Nigerian Air Force did not reply to any further questions. The strike took place in a village near the border of Borno in Yobe, the long-running heartland of an?insurgency which has claimed thousands of lives and forced millions to flee their homes. Lawan Zanna Nur Geidam is the councillor of Fuchimeram Ward in Yobe's Geidam District and the?traditional leader of Fuchimeram. She told?vermögenzeug???sprachdersprachsprachsprachsprachsprache or Lawan Zanna Nur Geidam, the councillor and?traditional head of Fuchimeram ward in Yobe's Geidam district told? "This is a devastating incident that happened at Jilli Market." In a telephone conversation, he told the interviewer that "over 200 people lost their lives in the air strike on the market as I speak to you." Three other residents and a representative of an international humanitarian organization confirmed the strike and its likely death toll. The Yobe State Emergency Management Agency (SEMA), which activated emergency response, said that it received preliminary reports about an incident at Jilli Market. Ahmed Ali, 43, who is a resident and sells medical consumables in the market, claimed to have been injured by a blast. "I was so terrified that I tried to run, but my friend dragged me. We all fell on the floor," he said from the hospital. Reporting by Ahmed Kingimi in Maiduguri and Adewale Kolawole in Kano; writing by MacDonald Dzirutwe, editing by David Goodman & Alexander Smith
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Australia and the US increase support for critical minerals by $3.5 billion
Canberra announced 'on Sunday' that Australia and the U.S. had committed a total of more than A$5 Billion ($3.5 Billion) to a number of important mineral projects. This is nearly twice the amount pledged six months ago when the two countries signed a cooperation agreement. The funding is intended to?support Australian ventures that develop and refine metals vital to industries such as defence, advanced manufacturing, and energy transition. This market has been long dominated by China. The funding will help reindustrialise America's high tech manufacturing base while also helping to "counter China’s export dominance" and ensuring Western supply-chain reliability, the two countries said in a framework agreement last October. Australia and the U.S. committed to investing at least $1 billion each in a $8.5 billion pipeline for priority critical minerals projects between the two countries within the next six months. Australia is a rich source of rare earth minerals, but China is the master of the environmentally and technically challenging refining process. In a press release, Resources Minister Madeleine King stated that "Australia and the U.S. deliver on the White House commitments with priority projects in Australia which?support the production of rare Earths and critical minerals". "Australia is leading the world in diversifying supply chains of critical minerals and rare Earths that are essential to Australia's economic and national security and to our trading partners. Refinery Project Backed Export Finance Australia and the U.S. Export-Import Bank will be responsible for funding A$5 billion of critical Australian mineral projects. EFA and EXIM issued letters of interest and support for a project to build a rare earths refining plant owned by Tronox Holdings. The investment is worth a total of A$849 million. King explained that Tronox with operations in Western Australia as well as the U.S. would use its existing mining and process capabilities to create mixed rare earth carbonate, which contains both light and heavy elements of rare earth. The agencies also committed to a combined support of up to A$1 Billion for Ardea Resources’ Kalgoorlie Nickel project in Western Australia. The framework also supports Alcoa’s Gallium Recovery Project and Arafura’s Nolans Rare Earths Project, as well as graphite ventures. King stated that additional projects for minerals such as vanadium, scandium, and graphite have received support.
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Philippines: any energy deal with China must respect Philippine sovereignty
The Philippines announced on Sunday that any decision regarding oil and gas cooperation with China will be made in strict accordance with its constitution. The Department of Foreign Affairs stated that it had taken notice of various public statements made by groups regarding the proposed reopening of talks between the Philippines and China about oil and gas collaboration in the South China Sea where both countries have been involved in maritime disputes for a long time. The Chinese Embassy in Manila didn't immediately respond to a comment request. * Any decision to pursue, structure or conclude an agreement on oil-and-gas cooperation with China, or any other government, would be made in full accordance with Philippine Constitution, laws, jurisprudence, and regulations. * The Philippines and China re-started a series of 'talks' late last month over the disputed South China Sea. They explored preliminary steps towards oil and gas cooperation and addressed energy and fertilizer?supply?issues resulting from the Middle East conflict. * Philippine President Ferdinand Marcos Jr. has stressed the need to ensure stable and affordable energy supplies. Reporting by Karen Lema and Khanh Vu from Manila, Hanoi, and Christina Fincher.
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Reeves, UK's Reeves, to present plan to assist businesses with energy costs
In a piece in 'The Sunday Times,' British Finance Minister Rachel Reeves said that she would be presenting her plan to help businesses who are struggling with high energy prices in the wake of ongoing conflict in Iran. Reeves expressed frustration at the U.S.'s and Israel's lack of action to address Iran's closing of the Strait of Hormuz, a crucial waterway that is used by crude oil markets. Reeves announced that she would provide more information on how businesses can be assisted with costs as the talks in Pakistan over a peaceful settlement ended without agreement. The government previously pledged to ?cut some green levies ?and lower bills for some electricity-intensive firms, but Reeves said that nevertheless the "UK's manufacturing sector... has faced uncompetitive energy prices for too long." She wrote in the Sunday Times: "So, later this week, I will set out the next stage of our plans to increase Britain's Competitiveness." "I will also lay out the principles which will guide our support for businesses in the months to come." Reeves will attend the International Monetary Fund meetings in Washington, D.C. this week. She said she would meet with her allies to discuss ways to ensure freedom of navigation through the Strait of Hormuz. She said that the?war in Iran would cost British families and businesses. "We do not yet know the exact cost, but the immediate priority is to ensure the ceasefire lasts." Reeves has previously stated that any assistance for household bills which are expected rise in July will be targeted and based upon household income.
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After days of gridlock, Irish police clear fuel protesters out of central Dublin
Irish police cleared trucks and tractors?on Sunday? that had been 'blocking traffic? in central Dublin? for five days?in protest?against?surging fuel prices?as government moves to minimize the economic fallout of a wave?of blockades? This week, protesters angry by the more than 20 percent increase in diesel prices following the start of the U.S./Israeli war on Iran used tractors and trucks to block an oil refining plant, two ports and fuel terminals, as well as a number roads throughout the country. The protests led to major disruptions in Dublin's?transport system and about a third of?petrol stations across the country were without fuel. Finance Minister Simon Harris called it a "very danger moment" for Ireland. On Saturday, the police cleared the blockade at the only oil refinery in the country. They also announced on Sunday that they have begun an operation to remove a "blockade" of Galway Port. The government refused to negotiate with the protesters who included farmers and drivers. The government is in 'talks' with groups from the agricultural and transport industries about measures to reduce fuel costs. The Sunday Independent published a poll that showed 56% of respondents supported the protesters. However, the majority of supporters of both the ruling parties were against them. Conor Humphries, David Holmes and Conor Humphries are the authors.
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Minister: South Korea is close to securing oil from Kazakhstan
South Korea has a good chance of obtaining crude oil from Kazakhstan, said the Industry Minister on Sunday. The?country is looking for alternative energy sources amid the Middle East war. Kim Jung-kwan, Industry Minister at KBS, said: "There have been (some) significant progresses. We should be able announce specific amounts and detail?early the next week." Kang Hoon Sik, the presidential chief of staff, travelled to Saudi Arabia, Oman, and Kazakhstan with Kim earlier this month to secure supplies of crude oil and naphtha due to disruptions in shipping through Strait of Hormuz. Kim explained that the visit to Kazakhstan was part of a long-term strategy to diversify oil supplies. South Korea is almost completely dependent on importing oil, with 70% of its purchases coming from Middle East. Last month, the United Arab Emirates also pledged to provide 24 million barrels. (Reporting and editing by Raju Gopalakrishnan; Jihoon Lee)
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New Zealand's North Island is ravaged by a cyclone, and hundreds of people are evacuated
On Sunday, a cyclone hit New Zealand's North Island, cutting off power to thousands of residents. Officials warned that conditions would continue to worsen throughout the day. MetService, the national weather provider, reported that Cyclone Vaianu had brought destructive winds exceeding 130 kph 81 mph (and heavy rain) even before it expected to land in the afternoon. The authorities have declared several areas to be in an emergency and issued wind warnings of "red" levels, reserved only for the worst weather conditions. Emergency Management Minister Mark Mitchell stated that the cyclone was "more towards" the fringes of the North Island and would spare Auckland, the most populous city in the country, from the worst conditions. Mark Mitchell, Minister of Emergency Management, said that stronger winds and waves were expected as the cyclone crossed the coast. "It has moved more towards the edges and to the east. This means that we haven’t seen the intensity we had prepared for, or that we expected to be hit with. Mitchell stated that this is "good news". "What we can expect in the next 12 to 24 hours is a little more intensification as the cyclone begins to descend and gets closer." Mitchell warned that the combination of high tide in the afternoon and the large swells caused by the storm could cause coastal flooding. He said that the most dangerous time was from 2 pm this afternoon, when there were high tides and big swells. He said that the cyclone forced hundreds of residents from their homes and knocked off electricity to 5,000 homes. New Zealand Defence Force personnel and heavy equipment has also been deployed in order to assist with the evacuation. MetService reported wind gusts in excess of 130 kph and rainfall totals exceeding?100 mm (3.92 inches) over the course of 24 hours in Whangarei. Vaianu brings to mind 2023's Cyclone Gabrielle. This storm killed 11 people and caused thousands of New Zealanders to be displaced. It was one of the worst natural disasters in this century. (Reporting from Sydney by Christine Chen; Additional reporting in Wellington by Lucy Craymer; Editing by Thomas Derpinghaus).
International prepare for early ditch of coal power hits Indonesia difficulty
A G7backed push to close coal power plants in emerging markets is facing further delays after a July due date passed without a deal on the early closure of an Indonesian power plant that would be the first to shut under the effort.
The push versus coal comes under the Simply Energy Transition Collaborations (JETPs) with Indonesia, Senegal, South Africa and Vietnam that require billions of dollars in financial investments, grants and loans from G7 members, multilateral banks and personal loan providers to help them shift to low-carbon economies.
Cutting emissions from coal, the dirtiest fossil fuel, is seen as an important component of the JETPs if the world is to stave off the worst effects of environment modification.
However a deal on the early shutdown of coal power plants in South Africa stays elusive amidst its struggles with rolling blackouts, and wish for proof of concept has actually turned to Indonesia's 660 megawatt Cirebon-1 plant in West Java province, 220 km (140 miles) east of capital Jakarta.
The legal and financial implications of closing Cirebon-1 are a stumbling block though. Jakarta is stressed, too, that costs for replacing it with renewable energy might reach $1.3. billion, mostly in subsidies to cover more costly sustainable. power generation, according to the financing ministry.
A new federal government is taking workplace in October too and. that might further damage the possibility of a deal on Cirebon, stated. Fabby Tumiwa, a renewables professional and member of the technical. group encouraging Indonesia on its JETP.
If this is not signed before Oct. 20, I am worried that. this matter will be overlooked, Fabby said, citing calls by. President-elect Prabowo Subianto for self-sufficiency and energy. security that recommend a dedication to coal, which creates. two-thirds of Indonesia's electrical power.
Prabowo, who takes workplace on that date, has not talked about. Cirebon and has actually hardly ever discussed his energy policy, though the. retirement of coal power is mentioned in his project pledges.
Prabowo's group has actually not responded to ask for comment.
Under Indonesia's JETP, richer nations have vowed $20. billion to assist the Southeast Asian country with its energy. shift, although little of that cash has actually been paid out.
LEGAL CONCERNS
Earlier this month, Financing Minister Sri Mulyani Indrawati. stated the outbound federal government was trying to close the Cirebon. offer as quickly as possible, without giving information.
David Elzinga, team leader for the Asian Development Bank's. local Energy Transition Mechanism programme that is working. on the early shutdown plan, said his group was looking for a. binding offer on Cirebon acceptable to both the outgoing and. inbound administrations.
Indonesia has actually positioned itself to be a leader ... It's. actually important now that we get the deal done, Elzinga said.
An offer on Cirebon is crucial for the ADB's local ETM. programme as it prepares comparable deals in countries including. Vietnam and the Philippines, in addition to for other plants in. Indonesia.
To arrive, state energy Perusahaan Listrik Negara (PLN). and plant operator PT Cirebon Electric Power (CEP) require to reach. a brand-new power purchase agreement, which they failed to do by July,. CEP Director Joseph Pangalila informed Reuters.
The need for stronger legal securities and a clear road map. for retiring coal plants was the primary problem, PLN said, given. that power generation expenses might increase by nearly 90%.
PLN directors likewise fear an offer could expose them to future. criminal charges if anti-graft detectives see the transaction. as straining the state with losses, JETP consultant Fabby said.
Rachmat Kaimuddin, deputy minister overseeing power. infrastructure, acknowledged this at a current forum, saying. stakeholders were considering the legal repercussions that might. emerge from any closures.
If we're not careful, some individuals can get into difficulty. due to the fact that it can produce what they call state loss, he stated.
In June, a former president of state energy firm. Pertamina was sentenced to nine years in jail for signing a. long-term gas contract that a corruption court stated triggered state. losses of $114 million.
OTHERS TO FOLLOW
We are anxious that it needs to get done, however at the same. time what is necessary is that the first transaction be carried out in. the best possible way, stated Ramesh Subramaniam, ADB director. general and head of the bank's sectors group.
A variety of personal banks are lined up to invest and a. series of new offers could likewise be started as soon as Cirebon is. done, with the ADB having currently took a look at about 30 other. plants in Indonesia, he said.
Although this has taken some time, we have actually found out a lot ... and. our really clear sensation is the next ones to come will be. significantly easier.
Cirebon-1 is a relatively new plant that started up in 2012. A. offer would imply it stops operations in 2035 rather of 2042.
Regardless of running cleaner than older plants, emissions from. Cirebon and others around Jakarta are frequently blamed for. Indonesia's chronic contamination, and a few of the locals in. neighbouring fishing villages would be happy to see it go.
Fisherman Amin, 64, blamed the plant and coal unloading at. its jetty for contamination and a shortage of fish in close-by waters.
When they first opened, the water was fine, however it ended up being. significantly murky. The green mussel farms here didn't have any. harvest in the past two years, he said.
From the beginning of construction, I was against it.
(source: Reuters)