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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)
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COP30 urged on to link climate justice and reparations for historical crime
Hundreds of environmental groups and human rights organizations have urged COP30 - the global climate summit that will be held in Brazil, this November - to address the historical causes of the climate crises and to put reparations at the top of the agenda. The letter argues historical crimes such as slavery and colonialism created global inequalities of resource access. It also drove asymmetrical emissions and increased vulnerability to natural disasters. Signatories of the petition said that "climate justice is not possible without reparatory justice." Originally launched by organizations such as Brazil's Instituto Luiz Gama, and the Caribbean Pan African Network, this petition has been signed by over 240 organisations, public figures and groups, including Amnesty International USA, and local chapters Black Lives Matter. The letter has been endorsed by the Colombian environment minister. The letter will be sent next week to the Brazilian government as well as the United Nations. The climate crisis is not a recent phenomenon. It is the result of centuries of greenhouse gas emissions, extractions, dispossessions, and racial conflict. In the letter, it was stated that Brazil would be a good leader in this matter, as the country has more African descendants than any other outside of Africa. It urged Brazil to create a space dedicated to climate justice at the summit, which would be led by Africans and peoples of African descent as well as Indigenous communities. Brazil was also asked to include these topics in its political agenda, and to actively facilitate such discussions at COP30. The centuries-old demand for reparations has gained renewed momentum around the world, but there is also a growing backlash. Critics say that modern institutions and states should not make amends or pay for historical wrongs. Anielle Franco is Brazil's Minister of Racial Equality. She said last year that the injustices of the past were long unrecognised and reparations are about "building a dignified future." (Reporting and editing by Catarina demony)
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Lithium Argentina's Cauchari-Olaroz plans to triple its production by 2029
Lithium Argentina’s Cauchari-Olaroz Project in northern Argentina aims to produce 85,000 tons of battery metal per year by 2029. This is more than triple the output last year, according to Executive Vice President Ignacio Celorrio. This is one of six projects in Argentina that produce lithium, which is used to make batteries for electric cars. Lithium Argentina (listed in Canada and the U.S.) and Ganfeng Lithium, a Chinese company, are developing Cauchari-Olaroz in the Lithium Triangle, which spans Argentina and Chile, as well as Bolivia. Celorrio, speaking on the sidelines a lithium-related conference in Buenos Aires on Tuesday, said that the project is expected to produce between 30,000 and 35,000. According to agreements between Ganfeng, the Thai bank that provided the financing, and Bangchak, an off-take agreement with the Chinese company, 80% is currently exported to China, and the rest to Thailand. Lithium Argentina, Ganfeng and other partners announced a joint venture in August called Pozuelos-Pastos Grandes. The new joint-venture will consolidate three projects located in Salta Province - Pastos Grandes Sal de la Puna, and Pozuelos - with a capacity of producing 150,000 tons lithium per year. Lithium Argentina hopes to start construction in 2026 after completing a feasibility study. Celorrio stated that both Cauchari-Olaroz as well as Pozuelos/Pastos Grandes would apply for Argentina's Large Investment Incentive Regime by the end the year. Celorrio said that both Cauchari-Olaroz and Pozuelos-Pastos Grandes will apply to Argentina's Large Investment Incentive Regime (RIGI) by the end of the year.
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US tells India to curb Russian oil exports in order to progress trade deals
Two people who were familiar with the negotiations said that U.S. negotiators told their Indian counterparts to reduce India's tariffs and seal a deal by limiting purchases of Russian crude oil. A U.S. official stated that while trade negotiations were on the right track, there was still more work to be done in order for India to address U.S. concerns about market access, trade deficits, and purchases of Russian crude oil. U.S. president Donald Trump has tried to pressure India, European Union members and NATO to reduce purchases of Russian oil in order to cut Moscow's revenues and speed up the end of the Ukraine war. Trump's administration is willing to use all available leverage to achieve its policy objectives. This was evident when it linked trade negotiations with India and India's demand to reduce Russian oil purchases. Trump has grown increasingly frustrated by the slow progress in ending Russia's conflict in Ukraine. He had promised to end this conflict from his first day as president. The U.S. imposed a 25% additional tariff on Indian imports to pressure New Delhi into stopping its purchases of discounted Russian oil. This brings the total punitive duty on Indian goods up to 50%, and ruins trade negotiations between two democracies. Trump has not imposed additional tariffs on Chinese goods due to China's purchase of Russian oil. His administration is navigating a delicate truce in trade with Beijing. India and China are two of the largest buyers in the world of Russian oil. This is despite numerous U.S. sanctioned that restrict Moscow's ability to access global markets. India responded by defending its oil imports and highlighting the economic benefits. It also accused Western nations of hypocrisy, for continuing to trade with Russia in spite of sanctions.
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Nigeria's Dangote Refinery Announces Layoffs and Cites Acts of Sabotage
The Dangote oil refining company in Nigeria said that it fired a few workers on Friday, citing sabotage at various units. This sparked criticism from the oil workers union who claimed over 800 Nigerians were terminated. PENGASSAN (the Petroleum and Natural Gas Senior Staff Association of Nigeria) said that the workers had been unfairly dismissed and replaced by over 2,000 Indians. Africa's biggest refinery with a crude processing capacity of 650 000 barrels a day has created a swing supplier within the Atlantic Basin that could reshape the global fuel trade. This exercise is not random. The refinery stated that it was necessary to protect the refinery against repeated acts of sabotage which have raised safety concerns as well as affected operational efficiency. The company did not confirm the number of workers who had been laid off or whether this would have an impact on production. It said that more than 3,000 Nigerians continue to work at the plant. The recipient of the letter was informed that they had been fired on the evening of September 25. An official from PENGASSAN stated that staff were terminated because they had joined a union. Lumumba Okugbawa is the secretary general of PENGASSAN. He said: "This is totally unacceptable and we condemn it completely." In a statement issued by the refinery, the company said it adheres to internationally recognized labour principles, including the right for every worker to decide freely whether to join or not. Dangote closed its gasoline unit at the end of August to undergo repairs that will take between 2-3 months. According to Kpler, a shipping data firm, the plant began processing crude oil in January 2024 and exported more fuel oil in September. When there is an interruption or maintenance, modern oil refineries tend to export more fuel oil. (Reporting and Additional Reporting By Owolabi Tife, Alex Lawler and David Goodely; Editing by Jason Neely, David Goodely and Alex Lawler)
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Argentina approves McEwen’s $2.7 billion copper Project for Tax Break Program
The Argentine government has approved McEwen Copper’s $2.7 billion Los Azules Copper Project in the country under a tax incentive program called the Large Investment Incentive Regime. McEwen Copper, a subsidiary company of McEwen Mining, is a McEwen Copper subsidiary. Economy Minister Luis Caputo stated in a blog post on X that the project will contribute to $1.1 billion worth of exports each year. Argentina hasn't produced copper since the Alumbrera Mine closed in 2018. But developers and analysts are hopeful that projects like Los Azules will make Argentina a major supplier to the world. Caputo stated that the approval was a first in the province of San Juan, Argentina's top gold-mining region and hub for non-operational projects. It would create more than 3,500 direct and indirect jobs. Los Azules, the eighth project approved under the RIGI tax-break scheme, brings a total of $15.7 billion in investment to the plan of incentives promoted by the libertarian president Javier Milei. McEwen sources estimate that the total investment in Los Azules will be $3 billion within three to four years. The mountainous area is 3,500 meters high and located in the Andes range. They said that the company must now look for financing to make this investment. McEwen intends to start producing copper cathodes from Argentina in 2029. It will soon release a feasibility report that includes operational details over the next 20-year period, while it is working to obtain permits. The company plans to leach copper instead of the traditional method that involves floating and skimming concentrates. This will use half as much water and have a smaller impact on the local population. McEwen, with 46.4% of Los Azules, is the largest shareholder. Stellantis and Nuton/Rio Tinto each own 18.3%.
UN report: Major Rwandan coltan supplier bought smuggled Congolese mineral minerals
A forthcoming UN report claims that Rwandan-based Boss Mining purchased coltan from Congo.
Mineral trade is used to finance M23 rebels in eastern Congo
Boss, Rwanda and other countries deny any involvement in the smuggling of goods from Congo
Reade Levinson and David Lewis, Sonia Rolley
According to a report reviewed by the United Nations, a Rwandan company called Boss Mining Solution purchased minerals that were smuggled out of rebel-held areas in neighboring Congo. This helped fund an insurgency there. This is the first time that the U.N. has publicly named a company accused of being complicit in the trafficking of minerals looted in Congo after M23 insurgents took over a major mining area in the country last year. Boss Mining is named in a U.N. document that documents how recent territorial gains by M23 in Congo have further destabilized an area beset by decades-long conflict. U.N. accuses the heavily armed rebels of plundering Congo’s natural resources, and of committing atrocities on civilians. They are backed by Rwanda's government. The report stated that illegal mining and smuggling minerals into Rwanda from M23-controlled zones had "reached unprecedented heights". Diplomats said that the report, which was presented to the U.N. Security Council's sanctions committee for Congo at the beginning of May, will be published shortly. M23 has not responded to our requests for comment. Corporate records show that Eddy Habimana is a Rwandan entrepreneur who runs Boss Mining. U.N. investigators had identified Habimana as a minerals trafficker a decade earlier, with ties to rebels fighting in the eastern Congo. Habimana refused to comment on allegations made in an unpublished U.N. Report. According to Rwandan corporate records, two Russian-born mining executives also own Boss Mining. Yolande Makolo said on Wednesday that the U.N. Report "misrepresents Rwanda’s longstanding concerns about security" regarding Hutu groups who have attacked ethnic Tutsis both in Rwanda and Congo. This threat "requires a defense posture in our borders." The Congolese government spokesperson did not respond immediately to our questions, but officials in the Democratic Republic of Congo have accused Rwanda of fomenting conflict to plunder Congo’s mineral wealth. Mineral sales have been crucial to M23's funding. Insurgents swept through large areas of eastern DRC this year, including mines that produce gold, copper and tin, as well as the largest coltan mining operation in the world. An analysis of 2024 customs records revealed that Boss Mining was one of several Rwandan companies exporting significant volumes of coltan, despite the fact Rwanda produces very little of this metallic ore. Rubaya is the Congolese mine area, now controlled by the M23 group, which produces 15% of all the coltan in the world. The ore can be processed into tantalum, a heat resistant metal that is in demand by manufacturers of mobile phones, computer systems, and other electronics, aerospace, and medical applications. M23 insurgents took control of the two main crossings to Rwanda when they seized Bukavu, a border city located on the Congolese side, and Congo. According to a forthcoming U.N. Report, smuggled Congolese mineral are transported to Rwanda through these cities. They do so at night to "avoid detection." According to the report, 195 tons were discovered in just the last week of march. The report stated that Boss Mining purchased some of the minerals. Habimana responded to previous questions in June about Boss Mining operations by saying that his company had "never purchased coltan" from Rubaya. "All materials we purchase are in compliance with international guidelines designed to ensure mining doesn't fund armed group or contribute to abuses of human rights," he added. M23's rapid advance in eastern Congo has reignited a conflict that dates back to the Rwandan genocide of 1994 and has caused millions of people to be displaced. The rebels are determined to topple the Congolese Government. The Rwandan government has denied for years that it is involved in the trade of coltan looted by its neighbor, or that it supports M23. Rwanda's ruling Tutsi majority party shares the same concern as M23 about the alleged threat of rival Hutu groups in eastern Congo. According to a confidential U.N. document, Rwanda had 1,000 troops in Congo as of April. Rwanda and Congo signed on Friday a peace agreement mediated by the United States that will see Rwandan troops withdrawn from Congo. The agreement does not include the M23. The rebel group is a part of an independent, parallel mediation that Qatar leads to try and end hostilities. Success in these talks is crucial to any lasting peace.
MURKY SUPPLY CHAINS An analysis of customs data revealed that Boss Mining exported 150 metric tonnes of coltan in 2024, worth at least $6.6 million. This figure represented 6.5% of all Rwandan coltan exports in 2024. Boss Mining was the sixth largest exporter of ore for the year. According to a Boss Mining worker who requested anonymity because he wasn't authorized to speak with the media, Boss Mining doesn't mine its own coltan, but instead buys it from Speck Minerals and other sellers. According to an employee of Boss Mining and a database online from the Rwanda Mining Board, the company has a mining license in Rwanda's Burera District where they mine wolframite. According to maps and the mining industry press, there are no major coltan mines in that area. According to reports from the Rwanda Mining Association, and the Rwandan mining press, Habimana also represents Speck Minerals. According to a publication from the 2024 Rwanda Mining Association, Habimana also uses this number for Boss Mining. Boss Mining's employee said that Speck operated two mines, in the Gakenke district and Muhanga district of Rwanda. These mines produce a total of 18 tons of colltan per month. In a 2018 audit conducted by a Thai smelter of the Muhanga Mine, the site owner was listed as Eddy Habimana and the mine name was listed as Speck. According to the audit, the production was 2.3 tons per month at that time. Habimana, in response to questions last month about Boss Mining in text messages, described the two mines in Muhanga & Gakenke as being part of Boss Mining operations. Was unable to verify current production at either mine. Habimana refused to answer any questions regarding Speck, or the employee's claims about production. U.N. investigators as well as non-governmental organisations and sources from the mining industry have accused M23 and their Rwandan supporters of smuggling minerals from Congo illegally for more than a decade. According to a U.N. Report published in December 2024, the scale of the trade increased after M23 took Rubaya. The rebels established a parallel government that controlled mining, trade, transportation, and taxation on minerals produced in the area. U.N. 2024 report stated that the rebels had taken Rubaya and established a parallel administration to control mining activities, trade, transport, and taxation of the minerals produced there. U.N. experts said that the resulting mixing of Congolese coltan with Rwandan production is "the most significant contamination of supply chain" to date. According to the report 2024, M23 received $800,000 per month in taxes from the coltan mines in eastern Congo. Mining experts claim that official statistics on Rwanda's production of coltan are not reliable. In May 2024, the central bank of Rwanda suspended publishing export statistics shortly after M23 had seized Rubaya. An analysis of the customs records revealed that Rwanda exported 2,300 tons ore coltan last year. Eleven geologists and mining experts who are based in the area said that Rwanda exports much more coltan than it produces. They have all visited mines and found that the Congo has a much larger mine site and more miners. Bill Millman, a mineral consultant based in the UK, said that Rwanda's coltan exports for 2024 are "totally implausible". Rwanda's government has not commented on its coltan output. In January, the DRC cut diplomatic ties with Rwanda after M23 took over the Congolese capital of Goma. Congo's army has repeatedly struggled to quell Rwanda-backed revolts. Kigali, however, has benefited for years from the corruption in the Congolese minerals trade and the lack of regulation.
RUSSIAN CONNECTION Rwandan records of company show that Boss Mining, which was established in 2013, is owned by Habimana. The managing director denied buying Congolese colltan. These records reveal that Boss Mining also has two other owners, Yuriy tolmatchev (the managing director who denied purchasing Congolese coltan) and Alexander Konovalchik. According to UK and Russian company records, and Russian mining press reports, both men are dual citizens of the UK and Russia and have worked in the mining sector for decades. Now they live and work in Britain. According to corporate records, the two men own other companies which buy the coltan from Boss Mining. They are also directors of Metarex Ltd., according to Cyprus corporate records. According to corporate records from the United Arab Emirates provided by corporate intelligence firm Diligencia, Metarex is 100% owner of Novacore FZE. Tolmatchev manages Novacore, which according to corporate records and an analysis of customs data, purchases all the coltan produced by Boss Mining. Tolmatchev declined to comment on Novacore’s purchases. He stated that Boss Mining was the smallest exporter of coltan in Rwanda but refused to give more details. He said he had no idea what local traders were doing in North Kivu, the Congo province where the Rubaya mine is located. Tomaltchev responded that the company does not buy material from Congo. Konovalchik was not able to comment on the U.N. Report. He said that all minerals purchased by Boss Mining are "from Rwandan Sources". He then referred any further questions to Habimana. He said, "I don't control day-to-day operations." Reade Levinson reported from London, David Lewis from Nairobi, and Sonia Rolley from Paris. Filipp Lebedev contributed additional reporting from London. Marla Dickerson, Silvia Aloisi and Marla Dickerson edited the article.
(source: Reuters)