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The second external power line has been restored at the Russian-held Zaporizhzhia Nuclear Plant
The Russian operators of the Zaporizhzhia Nuclear Power Plant in Ukraine have confirmed that a second external powerline has been restored. The plant, Europe's biggest with six reactors, was taken by Russian troops during the first few weeks of the invasion of Ukraine in February 2022. Russia and Ukraine accuse each of other's military actions which compromise nuclear safety. The plant does not produce electricity at the moment, but it needs external power in order to cool down the nuclear fuels and prevent the possibility of a meltdown. In a statement cited by Russian news agencies the station's Russian operators said that on Saturday, the second line, known as Ferosplavna-1, was reconnected. The completed work "significantly increased the stability of the power system at the station". Since May 7, the line was down. On October 23, the first Dniprovska Line was restored. The plant was without external power for 30 days with both lines not in operation. It relied on diesel generators. The International Atomic Energy Agency, the U.N. nuclear watchdog agency, was able to arrange a local ceasefire after fighting nearby prevented emergency crews carrying out repair works. The latest ceasefire came into effect on Friday. Chizu Nomiyama (Reporting and editing)
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Sponsored: Energy and Finance Chiefs Call for Sound Policy, Stable Frameworks at ADIPEC
Global finance leaders discuss the new era of energy investment defined by pragmatism, diversification and strategic capital allocation Industry leaders urge fundamentals-based planning amid global volatility, with stable, sound and clear policy frameworks identified as key investment landscape criteria Liquefied natural gas, methane and carbon reduction innovations and emerging markets identified as key investment frontiers Organisations whose speakers shared finance insights at ADIPEC 2025 included Moeve, The World Bank Group, Siemens Energy, NNPC, and PETRONASAbu Dhabi, 05 November 2025: Day 3 of ADIPEC 2025 concluded on 5 November with a resounding call to action for global financiers, policymakers, and energy leaders to accelerate investment in energy and infrastructure. Against the backdrop of high-level dialogue, the event spotlighted the urgent need for scalable capital deployment to meet rising energy demand. With over US$3.3 trillion in global energy investment projected this year, ADIPEC reinforced its role as a catalyst for unlocking strategic partnerships and financial innovation across the energy value chain.Taking place from 3-6 November, ADIPEC 2025 is convening financiers, policymakers and industry leaders to unlock the capital, tools and frameworks needed to transform global energy systems at speed and scale.With energy security and affordability shaping investment decisions, and challenges persisting in emerging economies such as high borrowing costs, investment risks, limited creditworthy off-takers, and regulatory uncertainty, ADIPEC 2025’s Finance & Investment programme has been showcasing how redirected capital flows, evolving portfolios, and inclusive frameworks are strengthening resilience, competitiveness, and long-term decarbonisation.Financing based on sound fundamentals, not short-term market shiftsIn the session titled ‘Commanding the next decade: how leaders are positioning for global volatility and opportunity’, experts discussed long-term financial planning in a dynamic energy landscape, recommending fundamental-based decisions over reactive policy.In the session, Maarten Wetselaar, CEO, Moeve, said:"You always have to invest based on fundamentals rather than on the latest policy change, whether it’s in Europe or the US or wherever in the world, because it takes so long to build energy investments that it’d be a bit risky to respond to the latest coming out of wherever in the world.”Advancing global goals with decarbonisation investmentWhile the global energy industry looks to bring more energy streams online, sector experts advised a continued focus on decarbonising our existing energy system, to ensure long-term energy sustainability. A key part of that is reducing carbon and methane emissions, for which greater investment in technology innovation is required.During a session titled ‘Methane emissions reduction: a decarbonisation priority’, Zubin Bamji, Manager Energy and Extractives Global Department, The World Bank Group, spoke about the critical role of financing in addressing methane emissions reduction.“Finance is one of the key missing elements in this ecosystem of methane and flaring decarbonisation, and the World Bank would like to play a role in that gap. The idea was to provide catalytic funding that is needed in many developing countries or emerging economies for them to recognise that there is actually an opportunity here.”His view was supported by Khalid Bin Hadi, Managing Director, UAE, Siemens Energy, who linked the ability to advance decarbonisation to investment in innovation, saying: “For me, innovation is about solving problems. We need to apply innovation, we need to scale innovations, and that will require three elements: investments, industry partnerships, and true partnership.”Myriad opportunities for energy and infrastructure investment in emerging marketsSeveral rapidly developing emerging market economies are looking to connect capital to resource extraction projects, which is often dependent on cross-sector and cross-border collaboration.In the session titled ‘Strengthening Nigeria and NNPC’s position in global energy markets’, Bayo Bashir Ojulari, Group CEO of NNPC, discussed how Nigeria’s booming energy sector is approaching development. He said: “With production comes the requirement for investment, so we’re focusing on collaboration that starts with the baseline, making our existing partnerships as effective and sharp as possible, while also discussing new partners, new investments, and new opportunities.”The importance of sound, stable, and clear policy in attracting and unlocking finance and investment was another message reiterated by speakers at ADIPEC 2025.Charlotte Wolff-Bye, Chief Sustainability Officer, PETRONAS,summarised the message succintly when she said: “Business works well when we have a line of sight of clear regulation, clear policy, line of sight, all of this. We like that. Most of us operate in many countries. We enjoy that. Investment will flow. The inability to regulate some of these policy commitments, perhaps lack of enforcement, doesn’t help, actually.”ADIPEC 2025 continues through 6 November, with upcoming sessions addressing hydrogen, LNG, digitalisation, and the future of energy systems. Across four days, the conference is turning dialogue into delivery, catalysing partnerships and showcasing solutions that drive inclusive, sustainable progress at speed and scale. Photo Courtesy ADIPEC
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Aker Solutions Extends Services Deal on Hebron Platform off Canada
Aker Solutions has secured a five-year enabling contract extension with ExxonMobil Canada Properties, the operator of the Hebron platform offshore Newfoundland and Labrador.The brownfield maintenance and modification (M&M) contract, valued between $147 million and $245 million, extends the company’s existing engineering, procurement, and construction (EPC) enabling agreement first awarded in 2015.Aker Solutions has supported ExxonMobil on the Hebron platform for nearly a decade, delivering platform-wide upgrades and modifications. The company has also provided multidisciplinary services to Canada’s East Coast oil and gas sector for more than 30 years.Executive Vice President Paal Eikeseth, who heads Aker Solutions’ Life Cycle business, said the company will use its integrated project execution model to deliver efficient and cost-effective solutions.“We will leverage our multi-discipline Project Execution Model to deliver fit-for-purpose solutions with speed and precision, ensuring successful outcomes while reducing costs,” Eikeseth said.The work will be led from Aker Solutions’ St. John’s office, where staffing has grown from 100 to 350 employees in recent years.
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Cleaning woman found dead after wrong house in Indiana
Police in Indiana said that detectives had completed the initial investigation of the murder of a cleaning lady who was mistakenly sent to the wrong address. She was fatally shot by a resident, who was afraid an intruder might be outside. The Whitestown Metropolitan Police Department has submitted its findings to the Boone County Prosecutor's Office to be reviewed to determine if criminal charges will also be filed in connection with the Wednesday's murder. Kent Eastwood told local media that the "castle doctrine", part of Indiana's stand your ground law, complicates the case. The "stand your grounds" law gives individuals the right to defend themselves from a home invasion, sometimes using deadly force. Police identified the slain woman as Maria Florinda Rios Perez de Velasquez. She was 32 years old, from Indianapolis, and according to reports, was a Guatemalan immigrant who was a mother of four. Rios Perez, her husband and two other residents arrived at the house shortly before dawn. One of them fired a gun into the woman's head. The residents had called emergency-911 by then to report that a possible break-in was in progress. Police said that officers found Rios Perez dead and determined she and her husband had been "members of the cleaning crew who mistakenly arrived to the wrong address." Police said there was no evidence that a break-in attempt had taken place. The husband identified by the Indianapolis Star, Mauricio Vélazquez, said to an online news website that he and wife believed they were at a correct address and double checked the location before approaching the home. Velazquez, according to The Star, said that the couple was standing on the porch of the house, located in Indianapolis suburb Whitestown when the shooting took place. The police have not identified who they believe is responsible for the shooting, or the identity of the resident. They say the investigation is a "complex and delicate case" that's still evolving. This incident was reminiscent of recent cases where homeowners opened fire at individuals who were mistakenly misidentified as intruders when they arrived at the wrong address. The county prosecutor who is reviewing the Whitestown matter will have to consider an Indiana state statute that allows people to use deadly force in their home to protect themselves when they believe that they are being threatened by an intruder. Steve Gorman, Los Angeles; Himani Sarkar, editing.
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Nasdaq's worst week since April due to AI rally worries, US yields slide
Investors worried about the sustainability and growth of artificial intelligence stocks, while U.S. Treasury rates dipped. The Nasdaq has fallen about 3% this week. Chip stocks and other tech-related shares have also been among the worst performers. As optimism about AI drove markets to new highs, the Nasdaq gained more than half since April when U.S. president Donald Trump announced tariffs. The Financial Times, however, reported earlier this week that Nvidia CEO Jensen Huang warned the U.S. to be prepared for China's victory in the AI race. We're still seeing the AI selloff after our comments... about China winning in the AI race. "You're seeing multiples being re-calibrated in the space. That's where most of the weakness lies," said Michael O'Rourke. Chief market strategist at JonesTrading, Stamford in Connecticut. You could also see it as profit taking. O'Rourke stated that this has been a great year for stocks, particularly in the group. Bitcoin was also down for the last week but was up 2.9% on the day, at $103,197.07. The S&P 500, Dow, and NASDAQ all ended the day higher after reports that progress was being made in the congressional impasse, which is the cause of the longest government shutdown in U.S. History. The Dow Jones Industrial Average rose by 74.80, or 0.16 percent, to 46,987.10. The S&P 500 gained 8.49, or 0.13 percent, to 6,728.81. And the Nasdaq Composite dropped by 49.45, or 0.22 percent, to 23,004.54. The MSCI index of global stocks fell by 0.68 points or 0.07% to 913.22. The pan-European STOXX 600 fell by 0.55%. The trade data from China was weaker than expected, demonstrating the impact of Trump's tariffs. Data showed that China's exports fell by 1.1% in October. This was the lowest performance since February. The data chills Asian markets, reminding them of China's dependence on American consumers. U.S. Treasury Yields edged down after new surveys showed deteriorating consumer confidence, partially due to the U.S. Government Shutdown, and investors weighed concerns about debt supply. University of Michigan preliminary consumer sentiment index showed that sentiment dropped to 50.3, its lowest level since 2022. This was due to concerns about the impact of the shutdown on the economy. The drop was primarily due to a dramatic deterioration of respondents' perceptions of the current situation, which fell to its lowest level ever. The yield on the benchmark U.S. 10 year notes dropped 0.2 basis points to 4,091% from 4,093% at late Thursday. The U.S. Dollar fell against the major currencies. Since last week, when Federal Reserve Chairman Jerome Powell admitted the risks of further easing measures, it had mostly firmed. The shutdown prevented the release key economic data. Data signals from surveys indicate a resilience which could support the argument for not cutting interest rates at the Federal Reserve meeting in December. The dollar index fell 0.11% on the day to 99.57. The euro rose 0.14% to $1.1563. The dollar gained 0.25% against the Japanese yen to reach 153.45. Prices recovered after a dip in the middle of the day on hopes that Hungary could use Russian crude oil. Trump also met Hungary's Premier Viktor Orban, at The White House. U.S. crude oil rose by 32 cents, settling at $59.75 per barrel. Brent gained 25 cents, settling at $63.63 per barrel. Gold prices were also higher.
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Argentina's YPF suffers a Q3 loss on taxes
The Argentinean state-controlled energy firm YPF reported a net loss in the third quarter of $198.7 million. This loss was attributed to a deferred taxes charge. The company's adjusted EBITDA, a key measure for industry profitability, was $1.36 billion from July to September. This is down 1% compared to a year ago and in line with the expectations of analysts surveyed by LSEG. YPF reported revenues of $4.64 billion. This is down 12% compared to the same quarter in last year. It was also a little below analyst's $4.76 billion forecast. The company reported that its total hydrocarbon output was down by 6%, to 523.100 barrels of oil per day. Shale oil production has risen by 35% in the last year to an average of 170,000 barrels a day. This represents 70% of total oil production. YPF released a statement separately on Friday stating that shale production had reached a new record of 190,000 bpd in October. YPF’s performance is a key indicator for Argentina’s economy. The country relies on Vaca Muerta to achieve its goal of becoming a net exporter of energy. The massive formation in western Argentina is responsible for 64% the oil production of Argentina, even though it only has 8% under development. This formation is important for the President Javier Milei government. It needs to boost Argentina's dollar reserves to build confidence and increase its energy exports. Refinery utilization in YPF’s downstream business (which includes marketing and refining) was 97%. Domestic fuel volume increased by 3% compared to the second quarter as YPF gained share. (Reporting and editing by Eliana Raszewski, Brendan O'Boyle and Leslie Adler).
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Nasdaq's worst week since April due to AI rally worries, US yields slide
Investors worried about the sustainability and growth of artificial intelligence stocks, while U.S. Treasury rates dipped. The Nasdaq has fallen about 3% this week. Chip stocks and other tech-related shares have also been among the worst performers. As optimism about artificial intelligence drove markets to new highs, the Nasdaq gained more than half since April when U.S. president Donald Trump announced tariffs. The Financial Times, however, reported earlier this week that Nvidia CEO Jensen Huang had warned the U.S. about China's potential to beat it in the AI race. We're still seeing the AI selloff after our comments... about China winning in the AI race. "You're seeing multiples being re-calibrated in the space. That's where most of the weakness lies," said Michael O'Rourke. Chief market strategist at JonesTrading, Stamford in Connecticut. You could also see it as profit taking. O'Rourke stated that this has been a great year for stocks, particularly in the group. Bitcoin was also down this week but last day it rose by 2.09% to $103,197.07. The Dow, S&P 500 and Nasdaq all turned positive late in Friday's session. The Dow Jones Industrial Average rose by 74.80, or 0.16 percent, to 46,987.10. The S&P 500 gained 8.49, or 0.13 percent, to 6,728.81. And the Nasdaq Composite dropped by 49.45, or 0.22 percent, to 23,004.54. The MSCI index of global stocks fell by 0.58 points or 0.06% to 914.42. The pan-European STOXX 600 fell by 0.55%. The Shanghai Composite Index and China's blue chip CSI300 Index had both closed Friday with a 0.3% decline. The China trade data was weaker than expected, demonstrating the impact of Trump's tariffs. Data showed that China's exports fell by 1.1% in October. This was the worst performance since the beginning of February. The data shook Asian markets, reminding them how dependent the manufacturing giant is on American consumers. U.S. Treasury rates fell after surveys showed deteriorating consumer confidence, in part due to the U.S. shutdown. Investors also weighed concerns about debt supply. University of Michigan preliminary consumer sentiment index showed that sentiment dropped to 50.3, its lowest level since June 20,22. This was due to concerns about the economic impacts of the government shut down. The drop was primarily due to a dramatic deterioration of respondents' opinions about current conditions. They fell to their lowest ever level. The yield on the benchmark 10-year U.S. notes dropped 0.2 basis points to 4,091% from 4,093% at late Thursday. The U.S. Dollar is expected to finish the week with a roughly flat value. Since last week, when Federal Reserve Chairman Jerome Powell admitted the risks of additional easing measures, the greenback has largely firmed. The U.S. shutdown of the government has prevented key economic data from being released. Data signals from surveys indicate a resilience which could support the argument for not cutting interest rates at the Federal Reserve meeting in December. The dollar index (which measures the greenback versus a basket including the yen, euro and pound sterling) fell by 0.11% on the day to 99.57. Meanwhile, the euro rose 0.14% to $1.1563, while the dollar index was down 0.11%. The dollar gained 0.25% against the Japanese yen to reach 153.45. Oil prices gained. U.S. crude oil rose 32 cents and settled at $59.75 per barrel, while Brent crude gained 25 cents and settled at $63.63. Gold prices were also higher. (Additional reporting in London by Lawrence White and Dhara Raasinghe, Editing by Louise Heavens and Deepa Babington; Edmund Klamann and Louise Heavens)
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European countries support $2.5 billion initiative for protecting Congo rainforest
The French presidency announced at a United Nations climate conference that European nations had backed a plan worth $2.5 billion to save the Congo rainforest. This conservation initiative could steal some of the thunder from Brazil's flagship initiative, which is the host country for COP30. The U.N. Climate talks are being held this year in the Brazilian Amazon to draw attention to the issue of emissions caused by rampant deforestation. The initiative "The Belem Call for the Forests of the Congo Basin", led by France and Gabon, and supported by Germany, Norway and Belgium, was reported on by Thursday, and confirmed later by France. Also, the World Bank, African Development Bank, and European Commission have signed up. The goal is to raise more than $2 billion in the next five-year period, as well as domestic funds from Central African nations, to protect the second largest rainforest on earth. Supporters also said that they would help African nations reduce the deforestation by using technology, training, and partnerships. They aim to end deforestation within the Congo Basin in 2030. The Congo, the Amazon - the world's biggest rainforest - and the Borneo-Mekong-Southeast Asia basin, the third-largest rainforest, all face threats from expanding farm frontiers, logging, mining, and other industries. The Congo Basin rainforest covers at least six central African countries, with the majority of it in the Democratic Republic of the Congo. The Congo's protection has attracted attention, as it absorbs more greenhouse gases net than any other forest. However, the timing was not in sync with Brazil's agenda for COP30 which places a global fund on the forefront. The Brazilian President Luiz inacio Lula da So has hailed the Tropical Forests Forever Facility as the future of climate financing because it replaces grants by a more scalable model. A diplomat who is familiar with both initiatives said that "in theory, they are both very different." He noted that the TFFF offers annual payments without strings to rainforest nations. The source said that the two rainforest funds competing with each other may not be helpful. Norway pledged an additional $3 billion on Thursday to the TFFF, making it the largest contribution yet. France has said that it is willing to contribute up to 500 millions euros to the Brazilian initiative. Germany promised on Friday a "significant contribution". Reporting by Lisandra paraguassu from Belem, and Simon Jessop from Sao Paulo. Editing by Brad Haynes and Diane Craft.
Trump team listens to pitches on Myanmar's rare Earths
Four people who were directly involved in the discussions confirmed that the Trump administration had heard competing proposals to change the longstanding U.S. foreign policy towards Myanmar. The goal was to divert its huge supplies of rare earth mineral reserves away from China, the strategic rival. Experts say that there are many logistical challenges and nothing has been decided. If the proposals are implemented, Washington will need to make a deal with ethnic rebels who control most of Myanmar's heavy rare earth deposits.
One proposal calls for talks with Myanmar's ruling junta in order to reach a peace agreement with the Kachin Independence Army (KIA) rebels. Another proposes that the U.S. work directly with KIA, without engaging with the junta. Washington avoided direct talks after the military overthrew the democratically-elected government of Myanmar in 2021.
Sources said that a U.S. lobbyist for business, a former advisor to Aung San Suu Kyi and a few outside experts had proposed the ideas to the administration officials in indirect discussions with the KIA.
Conversations that have never been reported before
Rare earths is a grouping of 17 metals which are used to produce magnets, which turn energy into motion. The so-called heavy rare Earths are used in the construction of fighter jets, as well as other high-performance weapons. The U.S. is dependent on imports of heavy rare Earths, as it produces very little. The Trump administration is focused on securing the supply of these minerals in order to compete with China. According to the International Energy Agency, China is responsible for almost 90% of global processing capability. The United States would make a radical change if they engaged the junta, especially given the sanctions Washington has placed on military leaders as well as the violence perpetrated against the Rohingya minority that Washington describes in its report of genocide and crimes committed against humanity. The Trump administration lifted sanctions on several junta ally last week. However, U.S. officials stated that this did not reflect a change in U.S. policies toward Myanmar. People familiar with the matter say that the ideas presented to the U.S. government include the following: easing President Donald Trump's threat of 40% tariffs against Myanmar; reversing sanctions against the junta, as well as its allies; working with India to process heavy rare earths exports from Myanmar and appointing an envoy for these tasks.
A person in Vance’s office confirmed that some of these suggestions were discussed at a meeting held on July 17 in Vice President JD Vance’s offices. Adam Castillo was present, who is the former director of the American Chamber of Commerce of Myanmar and runs a security company in the country. Vance's advisers on Asian trade and affairs were present. Vance was not present, according to the source.
Castillo said he suggested that U.S. officials play a role as peace broker in Myanmar. He also urged Washington, to take a leaf out of China's book by first brokering a bi-lateral self-governance agreement between the Myanmar military KIA.
The ruling junta of Myanmar and the KIA have not responded to a comment request.
Vance's Office declined to comment on Castillo’s visit to White House. However, a person familiar with the matter said that the Trump Administration has been reviewing its policy on Myanmar (also known as Burma) since Trump's inauguration in January and had considered direct discussions with junta regarding trade and tariffs.
The White House refused to comment.
REVIEWING MYANMAR POLITICS
People familiar with the discussions described them as exploratory, in their early stages, and added that the talks could result in Trump not changing his strategy, given his reluctance to intervene in foreign conflicts or in Myanmar's complicated crisis.
When asked about the meeting on July 17, a senior official in the administration said, "The officials met as a favor to the American business community to support President Trump’s efforts to reduce the U.S. trade deficit of $579 million with Burma."
Castillo, who described Myanmar's rare-earth deposits as China's 'golden goose', said he told U.S. official that key ethnic armed group - especially the KIA – were tired of being exploited and wanted to collaborate with the United States.
Heavy rare earths are produced in large quantities by mines in Myanmar's Kachin Region and exported to China.
He said he repeatedly urged Washington officials to pursue a deal that included cooperation with U.S. Partners in the Quad Grouping - India - to process resources and eventually supply heavy rare earths to the United States. The United States, India, Australia and Japan are all part of the so-called Quad Grouping.
The Indian Ministry of Mines has not responded to an email seeking comment.
Unknown to the public, an Indian government official said that he did not know if Trump's administration had informed India of any such plan. However, he stressed that it would take several more years for such a move to become a reality, as infrastructure would need to be constructed to process rare earths.
One pitch was in line with former president Joe Biden's Myanmar policy.
Sean Turnell is an Australian economist who was a former advisor to Suu Kyi's government, which the junta overthrew in 2021. He said that his proposal for rare earths was meant to encourage the Trump Administration to continue to support Myanmar's democratic movements.
Turnell met with officials of the State Department, White House National Security Council, and Congress during a trip to Washington in the early part of this year. He urged them to continue their support for the opposition.
He said that KIA, for example, could provide rare earths to the U.S.
In recent months there have been several discussions on rare earths between U.S. government officials and the Kachin Rebel Group through intermediaries, according to a source with knowledge of these talks. These discussions were not previously reported.
OBSTACLES
Since the coup, Myanmar is wracked by civil war. The junta, along with its allies, has been pushed from much of the borderlands of the country, including the rare-earths mining belt, which the KIA currently controls.
According to a source in the rare earths sector, U.S. officials contacted the Kachin rare Earths mining industry around three months after the Kachin tookover of the Chipwe Pangwa mining belt.
A person said that a new major supply chain for rare earths, which would involve moving minerals from remote, mountainous Kachin State to India and beyond, might not be feasible.
Bertil Lintner is a Swedish author and expert in Kachin State. He said that the idea of China stealing rare earths out of Myanmar was "totally insane" due to the mountainous terrain.
Lintner stated that there was only one way to get the rare earths out of these mines on the Chinese border to India. "And the Chinese will certainly stop it."
The junta, for its part appears eager to engage Washington after years in isolation. Trump, as part of his trade offensive against the world, threatened to impose new tariffs on Myanmar exports bound for the United States this month. He did so personally in a letter signed by Min Aung Hlaing, chief of the junta.
Min Aung Hlaing, in response, praised Trump's "strong leadership", while also asking for lower rates and a lifting of sanctions. He stated that he would be willing to send a negotiation team to Washington if necessary. Senior Trump administration officials claimed that the decision to lift certain sanctions had nothing to do with the general's email.
(source: Reuters)