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Media reports: At least 29 people killed and 50 injured in Indian actor-politician Vijay’s rally
The Hindu newspaper, citing state Health Minister Ma, reported that at least 29 people died and 50 were injured during a protest held by Tamil actor-politician Vijay, in Tamil Nadu state, south of India. Subramanian. The report stated that large crowds attended the meeting as part of Vijay’s ongoing tour of the state for his political party Tamilaga Vettri Kazhagam. Vijay is a single-named candidate who will be running in the state elections to be held at the beginning of next year. The report also stated that at least 44 doctors were sent from nearby districts Tiruchirappalli (Tirupati) and Salem (Salem). In a recent post, Prime Minister Narendra Modi stated that the incident at a Karur political rally is "deeply saddening". The health ministry of Tamil Nadu and the office of Chief Minister MK STALIN in Tamil Nadu did not respond to calls. The news from Karur was worrying, said Stalin in an X-post. He added that he directed ministers and other officials to provide immediate medical aid to those who had collapsed during the Karur rally. Additionally, he ordered Tiruchirappalli to send additional help. (Reporting and editing by Barbara Lewis in Bengaluru, with reporting by Devika Nirra from Bengaluru)
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Peru's Gen-Z protests pensions, corruption and President Boluarte
On Saturday, Peruvian youth will rally for a second round of protests to protest against President Dina Boluarte, one week after clashes between police and protesters in the capital left over a dozen officers, journalists, and protesters injured. Protests broke out on September 20, following changes to Peru's pension system, which required all Peruvians over 18 years of age to sign up with a pension provider. However, they were also fuelled by anger that had been building against Boluarte for a long time. "There has been a low level of simmering discontent in Peru for quite some time," said Jo-Marie Burt. She is a visiting professor in Princeton University's Latin American Studies program and has studied Peruvian politics over the past decade. Burt stated that the discontent was fueled by corruption, economic insecurity and rising crime. There is also anger about the lack of accountability for dozens of protesters killed by security force when Boluarte took power late in 2022, after former president Pedro Castillo had been removed from office. According to the July report of the Institute of Peruvian Studies, Boluarte has a 2.5% approval rating while Congress is at 3%. Apart from the unrest, protests in the mining industry have shaken the country. Hudbay Minerals announced on Tuesday that it had temporarily closed its mill in Peru due to the ongoing unrest. Peru is the third-largest copper producer in the world and also a major gold and silver producer. The Peruvian Youth Take to the Streets The Gen Z protests in Peru follow the youth demonstrations that took place in Nepal and Indonesia. The demonstrations have been marked by a skull wearing a straw cap, a symbol taken from the Japanese manga "One Piece", about pirates who are on the hunt for treasure. Leonardo Munoz, a protester in Lima who has adopted the symbol. Munoz explained that "the main character Luffy travels from one town to another, freeing people of tyrannical and corrupt rulers who rule over slave towns." It represents what is happening in different countries. "That's what's happening in Peru right now." According to the INE statistics agency in Peru, 27% percent of Peruvian population are between 18 and 29 years old. "We are tired of it being normalized. "Since when have normalized death? Since when have normalized corruption and extortion?" asked Santiago Zapata a student activist. "My generation is now coming out to protest because we are tired of being made to feel scared when the government that we elected should be afraid of us." DEMOCRATIC BACSLIDING IN PERU & ABROAD Burt says that the protests are part of a larger context where democracies around the world are under pressure. They also follow the efforts by the administration to weaken the courts, watchdogs, and prosecutors. She said: "It is very similar to what happened under Fujimori in the 1990s, when the justice was captured essentially for the consolidation of authoritarian controls." Burt pointed out that while the United States is less inclined to support democracy abroad and there are still concerns about the administration's erosion of electoral institutions in the run-up to the 2026 elections in Peru, previous protests helped to "hold the line" against institutions being taken over and even led to the removal of presidents. "Democratic forces can mobilize, and act in unexpected, positive ways, even if there is almost total control from these authoritarian system," Burt said. He added that the key will be whether or not protests are sustained over time. "The opera is still not over."
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Italy receives 10 bids on Ilva Steel as the major competitors withdraw
Acciaierie d'Italia, the national steelmaker, said that Italy received 10 bids to buy the former Ilva Steel Plant. However, only two bidders were interested in buying the entire company. The two groups who were originally frontrunners in the tender, Azerbaijan’s Baku Steel Company, working with Azerbaijan Investment Company, and India’s Jindal Steel International have now withdrawn. Bedrock Industries is a U.S.-based investment company that has a private ownership, and Steel Business Europe, a Slovak steel trader, are the two bidders who remain interested in buying all of Ilva. Eight other offers, including those from Renexia Group (Toto), Industrie Metalli Cardinale, and Marcegaglia, targeted individual assets held by Ilva. Ilva, a steel mill based in Taranto that was once Europe's biggest, has been plagued by poor management, and environmental concerns. Ilva has been in financial turmoil for years, and the state has repeatedly injected funds to keep it afloat citing its strategic value. Italian media reported that Baku Steel had abandoned its investment plans because local opposition prevented the deployment a regasification ship needed to power its project for more environmentally friendly electric kilns. Jindal Steel is now focusing on Thyssenkrupp of Germany, who are also in the market. The latest round of tenders closed on Friday at midnight. Acciaierie d'Italia stated that its commissioners will need "an appropriate period of time" in order to review all offers. They will focus on employment issues, decarbonisation and investment amounts, to ensure sustainable development of the facility. The Italian metalworkers union UILM issued a statement in which it said that the tender was "a complete failure" and added that the two funds competing for Ilva's entire assets lacked any industrial credibility. UILM stated that "to avoid the total shutdown of the former Ilva, and an unprecedented environment, employment, and economic disaster, the only way forward is nationalisation." (Reporting and editing by Barbara Lewis; Crispian Balmer is the reporter)
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Nigeria's oil union stops gas supply to Dangote Refinery due to mass dismissals
The Nigerian oil workers' union ordered its members on Monday to stop gas supplies to the Dangote Petroleum Refinery. This escalated a labour dispute that had been sparked by the dismissal hundreds of Nigerian workers. The Petroleum and Natural Gas Senior Staff Association of Nigeria, (PENGASSAN), has directed all its branches in major oil companies to stop crude and natural gas deliveries at the refinery immediately. According to a letter from September 26, the union accused Dangote of "misinformation" and "propaganda" rather than addressing the alleged wrong disengagement of unionised workers. "The crude oil supply valves should be closed." In the directive, PENGASSAN's General Secretary Lumumba Okugbawa stated that all loading operations for vessels heading there must be stopped immediately. The directive was issued just days after Dangote refinery fired Nigerian workers and replaced them, according to reports, with foreigners, mostly Indians. The company claimed that the dismissals were a part of a reorganisation to improve safety and operational efficiency. Dangote Refinery didn't immediately respond to an inquiry for a comment about the PENGASSAN Letter. This dispute has increased pressure on the $20-billion refinery that announced it would stop selling petrol in naira as of September 28 due to shortages in crude oil and mismatches with foreign exchange rates. This has led to concerns over rising fuel costs and a further strain on Nigeria’s currency. PENGASSAN has ordered oil company union chapter chairs to "report immediately the progress of the Directive", signaling a coordinated shut down that could disrupt fuel supply in Africa's largest country. (Reporting and Writing by Ben Ezeamalu, Editing by Toby Chopra).
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Nigeria's Dangote refining plant halts the sale of naira fuel due to crude supply shortages
According to a memo sent to customers by the company, Nigeria's Dangote Refinery has stopped selling petrol locally in naira, citing an unsustainable volume that exceeded its crude allotments. The suspension, which takes effect on September 28, could complicate attempts to reduce dollar demand in Africa’s largest economy where fuel imports are a long-standing strain on foreign reserves. The company stated in a memo that "Dangote Petroleum Refinery & Petrochemicals have been selling petroleum products over our Naira Crude allocations, and as a result, we will not be able to sustain PMS in Naira moving forward." The refinery was selling petrol on the domestic market in naira under an agreement with the Nigerian National Petroleum Company to swap crude for naira. The government initially welcomed the initiative as a means to support the naira and reduce the dollar pressure. Dangote’s increasing exports, including fuel oil, naphtha and diesel to Europe and West Africa, as well as the United States, have raised concerns about domestic priorities. The memo advised customers with pending transactions in naira to request refunds in writing. The refinery didn't immediately respond to our request for comment. Sources familiar with the situation say that Dangote had just laid off a number of Nigerian employees. Nigeria struggles to reduce inflation, which is above 20%. It also tries to stabilize a currency that has been weakened by the dollar shortages as well as subsidy reforms. Analysts believe that the decision to stop naira sale could force more marketers to purchase petrol in dollars and further pressure the naira. The 650,000-barrels-per-day refinery, Africa's largest, was expected to transform Nigeria's fuel landscape. Its domestic obligations and its export ambitions have now been questioned. Ben Ezeamalu, Emelia Sithole Matarise and Ben Ezeamalu are responsible for reporting and writing.
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Equinor, Partners Bolster Åsgard Production with Subsea Compressors Upgrade
Equinor and partners in Åsgard and Mikkel licenses have started the second phase of Åsgard subsea compression in the Norwegian Sea, with the aim to maintain production from the field by increasing the pressure in the pipelines between the wells and the Åsgard B platform.The first plan for development and operation (PDO) of Åsgard was approved in 1996. The field came on stream with Åsgard A in 1999 and Åsgard B in 2000. In 2012, the PDO for Åsgard subsea compression was approved by the authorities, and the first phase of Åsgard subsea compression came on stream in 2015.This was the world's first facility for gas compression on the seabed and the result of extensive technological development.The plans described that there would be a need for increased pressure in the long term to compensate for the pressure drop in the reservoirs. The first compressor module in phase two was replaced in 2023, now the second and final module has been installed, at a depth of 270 meters.With a total weight of 5100 tons, a footprint of 3300 m2 and towering 26 meters above the seabed, it is the largest subsea processing plant ever installed.The ÅSC station, located in 270 meters of water on the Midgard field (Credit: Equinor)The station consists of two identical compressor trains operating in parallel, each powered by a compressor with an electric motor capacity of 11.5 MW.A complete spare train is available in Kristiansund, which makes it possible to quickly replace parts if problems occur. The system is modular, with a number of key components from the old compression modules overhauled and reused in the new modules.Combined for both phases, the recovery rate from the Mikkel and Midgard fields will increase to 90% due to the compressor plant. This amounts to an additional 306 million barrels of oil equivalent from the fields.The Åsgard licence is operated by Equinor, which holds 35.01%, alongside Petoro with 34.53%, Vår Energi with 22.65% and TotalEnergies EP Norge with 7.81% stakes. The nearby Mikkel license is also operated by Equinor with a 43.97% stake, together with Vår Energi with 48.38% and Repsol Norge with 7.65% interests.“In this project, Equinor, together with partners and suppliers, has further developed and qualified the next generation of compressor modules. The technology allows us to recover more gas from producing fields. Good resource utilization is important to maintain high and stable production from the Norwegian continental shelf," said Trond Bokn, Equinor's senior vice president for project development.
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Indonesia's Pertamina says fuel retailer Vivo agrees to purchase gasoline
Pertamina, the Indonesian state energy company, said that Vivo Energy Indonesia, a private retailer, has agreed to purchase 40,000 barrels out of 100,000 barrels imported by Pertamina to relieve fuel shortages in private retailers. Shell, BP AKR – the operator of BP’s fuel stations – Vivo and other companies ran out of supplies this month after more customers sought them out following a report on the quality of Pertamina’s gasoline. In order to alleviate the shortages, the government has allowed private retailers to import additional fuel via Pertamina. Vivo has agreed to an inter-business agreement with Pertamina. Vivo will take 40,000 barrels of the 100,000 barrels offered by Pertamina Patra Niaga to serve its clients. Pertamina Patra Niaga said it had ordered 16,000 kilolitres of gasoline (100,640 barrels) that arrived this past week. The state firm offered the cargo to petrol stations including Shell and BP AKR. Dumatubun stated that a surveyor will be appointed by both parties to conduct a quality-and-quantity test of the gasoline following the agreement. A spokesperson for the energy ministry also stated that fuel was now available to private retailers and companies were in discussions about distribution. Shell declined to immediately comment. Shell refused to comment immediately. According to the energy ministry, the remaining import quota of Pertamina of 7.52 million kilolitres could be used by private retailers. Reporting by Fransiska Nanangoy, Jakarta; Editing and proofreading by Kirsiska Donovan and Kim Coghill
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The Nuclear Company announces a partnership with Nucor in order to increase US nuclear power supplies
The Nuclear Company announced on Friday it had signed a strategic partnership with U.S. Steelmaker Nucor Corporation in order to support the domestic manufacturing and boost nuclear power supply chains. TNC, an American nuclear deployment company, announced that the companies would assess the use of NQA-1 and related infrastructure in gigawatt nuclear reactors according to the American Society of Mechanical Engineers certification standards. TNC stated that the partnership is in support of executive orders by President Donald Trump, which target 400 gigawatts of nuclear power (GW) by 2050. This includes construction of ten large-scale reactors within the next five year period. The United States has launched a campaign to speed development After Trump, on his first day in office, in January, issued an order declaring an emergency, power plants and transmissions lines were shut down. Energy emergency Artificial intelligence, data centres, and electric cars are driving up power demand, for the first two decades. TNC's partnership with the U.S. also aims at helping it compete against China and Russia who have rapidly expanded their nuclear reactor fleets in recent years. Jonathan Webb, CEO of TNC said: "Our partnership will help protect America's security and energy independence. It will also create a more resilient economic environment." (Reporting by Sarah Qureshi in Bengaluru Editing by Marguerita Choy)
OPEC+ agrees to increase oil production from October in order to gain market share
OPEC+ agreed to increase oil production in October, as Saudi Arabia tries to regain its market share. However, the pace will be slower than previous months because of an expected weakening of demand worldwide.
OPEC+ increased production in April, after years of cutting to support the oil markets. But the decision on Sunday to boost output further came as a shock amid a possible looming oil surplus during the winter months in the Northern Hemisphere.
In a Sunday online meeting, eight members of OPEC+ decided to increase production by 137,000 barrels a day from October, according to OPEC+. This is a much smaller increase than the monthly increases that were about 555,000 bpd between September and August, and 411,000 bpd between July and June.
Eight members of OPEC+ have begun unwinding a second tranche, which amounts to about 1,65 million bpd. This is more than a calendar year ahead of schedule. The group has already unwound its first tranche of 2,5 million bpd, which is equivalent to 2.4 percent of the global demand.
The barrels are small but they send a powerful message, said Jorge Leon, an analyst at Rystad who is a former OPEC representative. The increase in barrels is not about volume but more about signalling – OPEC+ wants to gain market share, even if that means softer prices.
Leon says that OPEC+ (made up of the Organization of the Petroleum Exporting Countries, Russia, and other allies) found it easy when the demand grew in the summer. But the real test comes in the fourth quarter, with the expected slowing of demand.
OPEC+ stated that it had the option to increase, pause, or reverse increases at future meetings. The next meeting between the eight countries is scheduled for October 5.
NEW CAPACITY
Saudi Arabia's efforts to punish overproducing members like Kazakhstan and the United Arab Emirates for building new capacity have also contributed to the increase in OPEC output this year.
In an effort to fulfill his promise made during the election to lower domestic gasoline prices, Donald Trump pressured the group earlier this year to increase production.
As a result of the increased production, oil prices have fallen by around 15% this year. This has pushed oil company profits to their lowest level since the pandemic.
The oil price has not fallen, but is still trading around $65 per barrel. This is due to the sanctions imposed by the West on Russia and Iran. This has encouraged OPEC+ producers to increase their output.
OPEC+ has not met its pledged increases because the majority of members are operating at near-capacity.
Analysts and data show that only Saudi Arabia and United Arab Emirates can add more barrels to the market.
OPEC+ already had two levels of cuts in place before the Sunday agreement - the 1,65 million bpd reduction by the eight member countries, and a second 2 million bpd reduction by the entire group until 2026. (Additional reporting from Olesya Astakhova and Maha el Dhan; editing by Nick Zieminski, David Holmes and David Holmes).
(source: Reuters)