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Bloomberg News reports that India is planning a strategic reserve for rare earths.
Bloomberg News, citing an official in the defence industry, reported that India was considering creating a strategic reserve for critical minerals to be used as a last resort by defence manufacturers. The report said that the reserve of metals and minerals would be used "to tide over immediate requirements" when necessary, citing Rajesh Kumar Singh a senior Ministry of Defence official speaking at a New Delhi media event. The Indian Defence Secretary's Office did not respond immediately to a comment request. The report could not be verified immediately. India is quietly tapping into rare-earth mining in Myanmar in order to diversify their supply chain and divert it away from China. This unusual engagement, with the Kachin Independence Army was reported in this month. Beijing has severely restricted the exports of rare earths processed to major economies such as India in this year, building geopolitical influence in a trade dispute with the United States. According to the report, India has reasonable stocks of essential minerals that it could better utilize in the future.
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Sinopec, China's refinery and chemical project in Xinjiang is upgraded
Sinopec, the world's biggest refiner in terms of capacity, announced on Saturday that it had begun upgrading its integrated refining-and-petrochemical-project located in the oil and gas rich Xinjiang Region. Sinopec, the state-owned company, said that part of the upgrade plan for Tahe's refining and chemicals project is to expand refining capacities and add production capabilities for paraxylene and ethylene products. The company said it will increase its crude oil refining capacity to 8.5 million tons per year from 5 million tons and build 16 refining and chemical units, including a 2.4-million-ton-per-year hydrocracking unit, a 1.5-million-ton continuous catalytic reforming unit, an 800,000-ton ethylene cracking unit and an 800,000-ton aromatics complex. The construction of the upgraded building is expected to be completed by 2029. The project will generate an additional $2.85 billion in annual output value if it is completed and commissioned, based upon a crude oil cost of $60 per barrel. Sinopec's 2025 interim results stated that 63% or 27.6 billion Yuan ($3.9 billion) of the first-half capital expenditure was spent on exploration and development. This included capacity construction in Tahe, Jiyang and Fujian Province. ($1 = 7.1151 Chinese yuan renminbi)
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New York to record Climate Week in spite of Trump's attacks on green agenda
Climate Week will kick off in New York City on Sunday, marking the biggest year ever for the event. Organizers report a record number companies participating and more than ever events to attend. This response was almost unanticipated in an event-hosting country that is the wealthiest nation on the planet. The host has a climate-denying program of increasing fossil fuels and rolling back pollution regulations, and defunding U.S. climate science and action. Climate Week organizers even wondered if people would show up, said Climate Group Chief executive Officer Helen Clarkson. Clarkson stated that there was a lot of enthusiasm for the project. Climate Week, which has been held alongside the U.N. General Assembly every year since 2009, features more than 1,000 events, including panel discussions, presentations and swanky cocktails, hosted by environmental non-profits, companies, and philanthropists who hope to generate deals and promote discussion about protecting the environment. Climate Week last year, on the other hand, featured about 900 events. In an interview, former U.N. Climate Chief Christiana Figueres said that the boost in engagement was "exactly an antidote" to the attitude of the current U.S. Administration toward climate change. Figueres was involved in the creation of the 2015 Paris Treaty, which aims to keep global temperatures within 2 degrees Celsius of preindustrial levels. The goal is to reach 1.5 degrees Celsius. Figueres noted that ten years ago, national governments were pushing for climate change. However, since then, the situation is drastically different. Figueres stated that "the pull is now coming from stakeholders, the real economy and market forces which are pulling forward." Climeworks, a Swiss carbon capture company, has already booked nearly four times as many events for this year compared to last year. The company raised $162 millions in February, mainly to improve its technology and grow the company. Gebald stated that "demand for carbon removals is continuing to increase." Climate Week has seen a "higher level of interest" from senior executives. A DIFFERENT WEB Climate Week, which coincides with the U.N. General Assembly Meeting, has become a great opportunity for CEOs and Investors to network with world leaders. On Wednesday, Secretary-General Antonio Guterrez will host a "climate summit" where many leaders are expected announce new climate goals, or Nationally Determinated Contributions. The U.S. and the European Union won't be there, despite being leaders in global climate policy in the past. China, COP30's host Brazil, and other rapidly developing nations have played a greater role in setting the agenda. Climate sources say that China's plan to reduce emissions could be announced at any time, but it may not be as ambitious. The European Union has yet to agree on how ambitious these targets should be, raising concerns about the success of Brazil's COP30 Summit in just seven weeks. Lars Aagaard, Danish Climate Minister, said: "Europe has historically been at the forefront, both in terms of setting ambitious targets and also the financial side to international agreements." "Europe's place in the world is different now," says Lars Aagaard, Danish climate minister. We account for 6% of the global emissions. We are 6% of global emissions. The EU projects a 54% decrease in greenhouse gas emissions from 1990 by 2030, meaning that member countries are almost on track to meet the EU's 55% goal for 2030. Experts say that companies should be part of the conversation as leaders will focus at the COP30 in November on implementing promises made in previous years. According to the non-profit Net Zero Tracker, more than half of the largest companies in the world have committed to achieving net-zero emission by the mid-century. This is in line with global climate goals. According to an analysis conducted by the TPI Global Climate Transition Centre of the London School of Economics and Political Science (LSE), 98% of companies had no plans to align their spending with these commitments. The Rockefeller Foundation's Rajiv Shah said, "The challenge of New York Climate Week is to bring individuals and institutions together to reimagine new ways we can work together to combat common threats." The foundation released a survey on Thursday that asked 36,348 respondents worldwide. It found that 86% of people believed that international cooperation is crucial to climate action. Reporting by Simon Jessop, Katy Daigle, and Kate Abnett, in London, Washington, D.C., & Brussels. Additional reporting by Axel Threlfall, London. Editing by Mark Porter.
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What will the UN agenda be and who will be speaking?
The 80th session of the United Nations General Assembly begins on Tuesday. Who speaks when? The United Nations, which was founded in 1945 with 51 members, now has 193 members. The leaders of the Holy See, State of Palestine, and two non-member observers states, known as the United Nations' State of Palestine and the Holy See, may also speak. Brazil is the first to speak in every meeting. U.N. officials say that Brazil was the first to speak in the early days of the world organization, when other countries were reluctant. The United States, which hosts the U.N. Headquarters in New York City, is the second nation to address the General Assembly. The list is arranged in order of hierarchy, and usually on a first-come, first-served basis. The heads of state are the first to speak, followed by their deputy and crown princes. Next come heads of government and ministers, and then lower-ranking leaders of a delegaiton. How long will they speak? Leaders should adhere to a 15-minute voluntary time limit. According to U.N. Records, Fidel Castro of Cuba spoke for approximately 4-1/2 hours during the 1960 opening of the General Assembly. Libyan leader Muammar Gadhafi spoke more than 1 1/2 hours in 2009. WHAT WILL THEY TALK ABOUT? Every session of the General Assembly begins with a specific theme. Leaders may briefly mention the theme before moving onto any topic. The theme for this year is "Better Together: 80 Years and More for Peace, Development and Human Rights." Leaders are also likely to discuss: GAZA. As the Gaza Strip war between Israel's Hamas militants and the Palestinian enclave approaches its second anniversary, leaders are gathering. A humanitarian crisis is worsening in the Palestinian enclave. Benjamin Netanyahu, Israeli Prime Minister, is scheduled to speak at the General Assembly next Friday. Israel has denied the allegations of war crimes and crimes against humanity that the International Criminal Court made against it in Gaza. Israel launched an assault on Gaza City Tuesday. The U.S. has refused to grant him a Visa. He will appear by video. UKRAINE. Volodymyr Zelenskiy, the Ukrainian president, will seek to bolster global support for Kyiv while U.S. Donald Trump attempts to broker a ceasefire more than three years since Russia invaded their neighbor. He will address the assembly this Wednesday, while Sergei Lavrov, Russia's foreign minister, will speak Saturday. Next week, the U.N. Security Council will hold a meeting at a high level on Ukraine. The U.S. will be watched closely, both at the U.N. Security Council and during Trump's General Assembly address, to see if Washington announces measures such as sanctions to try to convince Russian President Vladimir Putin that he should negotiate with Zelenskiy. IRAN. In New York, expect last-minute diplomacy over Iran's nuclear program. Tehran is trying to avoid the return of all U.N. Security Council Sanctions on the Islamic Republic by September 28. Both the Iranian president Masoud Pezeshkian, and foreign minister Abbas Araqchi will be attending the United Nations. SYRIA. This year, the Syrian President Ahmed al-Sharaa will make a notable debut at the U.N. General Assembly. Hay'at Tahrir al-Sham, the group that he leads, led the revolt in December to topple President Bashar al-Assad. This ended 13 years of civil conflict. HTS was the former al-Qaeda branch in Syria, formerly known as al-Nusra Front. It broke ties with al-Qaeda in 2016. The group, Sharaa and its leader remain under U.N. sanction. However, Sharaa was granted a travel waiver to New York between September 21-25. CLIMATE. Leaders of small island nations and other states that are most affected by climate change will be expected to urge further action as the world struggles to limit global warming to 1.5 degrees Celsius. WOMEN. Leaders will gather on Monday to celebrate the 30th anniversary a historic women's rights convention. Beijing's 1995 Fourth World Conference on Women is best remembered for the slogan "women’s rights are human right." Leaders are likely to be disappointed by the lack of progress made and the growing attacks against women's rights. The theme of Monday's meeting is to recommit to, accelerate and resource the implementation of the 1995 declaration. At the Beijing Conference, 189 countries signed a declaration calling for "full participation and equality of women in the political, civil, economical, social, and cultural life". SUDAN. Next week, some leaders are likely to discuss the war that has lasted for two and a half years in Sudan. The United Nations has called the war between the paramilitary Rapid Support Forces (RSF) and the Sudanese Army, which is a conflict between the Rapid Support Forces, the Sudanese Army, and the paramilitary Rapid Support Forces, "the world's most serious humanitarian crisis." There are pockets of famine in the entire country, including al-Fashir the capital of North Darfur State. The United States, Saudi Arabia, Egypt, and the United Arab Emirates have all called for a humanitarian truce lasting three months, followed by a ceasefire permanent. According to many, the "Quad", or four countries, have the greatest influence on the warring parties. U.S.-VENEZUELA TENSIONS. Venezuela complained about the United States' naval build-up in the Southern Caribbean waters and the nearby waters at the end of last month. The U.S. military launched two deadly attacks on suspected Venezuelan drug-cartel vessels in international waters since then. Venezuelan Foreign Minister Yvan Yli is likely to raise the increased tensions when he addresses the General Assembly this Saturday. Venezuelan President Nicolas Maduro claims that the U.S. wants to remove him from power. RACE TO APPOINT A NEW U.N. SECRETARY-GENERAL. The United Nations will select a new Secretary-General next year. Guterres' second five-year tenure will end on December 31, 2026. On the sidelines next week of the General Assembly, there will be much talk about potential candidates to succeed him. The U.N. Security Council, composed of 15 members, must agree on a candidate that will be recommended to the 193 member General Assembly. This means that the five veto-powers - Britain China France Russia and the U.S.
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Deepsea Mira Semi-Sub Spuds Appraisal Well for BW Energy off Namibia
BW Energy, together with NAMCOR E&P, has started drilling the Kharas well in the Orange Basin, offshore Namibia, with Northern Ocean’s Deepsea Mira semi-submersible drilling rig.The drilling of the appraisal well is taking place in the Kudu license (PPL003) operated by BW Energy, with a 95% working interest, with NAMCOR E&P, a subsidiary of the national oil company of Namibia, holding the remaining 5% carried interest.Owned by Northern Ocean and managed by Odfjell Drilling, the Deepsea Mira has been deployed as part of a rig-sharing arrangement previously announced by the rig’s operator, with Rhino Resources.The contract, entered into by BW Kudu in July 2025, provides access to an in-country rig and an experienced services team.BW Energy Hires Deepsea Mira Rig for Drilling Ops off Namibia“Our Namibian crew, together with their international colleagues, mark another step in unlocking Namibia’s offshore potential. A big thank you to everyone involved for their teamwork, dedication, and professionalism,” Northern Ocean said on social media.Built in 2019, the Deepsea Mira is a 6th generation dynamically positioned/anchor-moored semi-submersible drilling rig of Moss Maritime CS60E design. It is designed to operate in both benign and harsh environments, with a maximum operational water depth of 3000 meters.
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US Army: 4 Special Ops troops presumed to be dead in Washington State helicopter accident
The Army announced on Friday that four U.S. Army Special Operations soldiers are presumed dead after their Black Hawk helicopter crashed during a routine exercise this week in a remote part of Washington State near Joint Base Lewis-McChord. According to Jacqui Hills, spokesperson of the U.S. Army Special Operations Command in Fort Bragg, North Carolina, the Sikorsky UH-60 Black Hawk crashed at around 9 p.m. on Wednesday evening, near a base located 15 miles south-east of Tacoma. She said that none of the four crew members aboard the aircraft, who are all members the elite 160th Special Operations Aviation Regiment 4th Battalion assigned to Lewis-McChord were survivors. This airborne unit, known as "Night Stalkers," is known for their expertise in performing operations under the cover of darkness. They also pioneered nighttime flying tactics for the Army. In a statement, Lieutenant General Jonathan Braga described the four soldiers as "elite warriors" who represented the Army Special Operations and Army values. Their sacrifice would never be forgotten. Hill said that the difficulty of reaching the accident site was due to the remote location and the thick vegetation. Recovery operations are continuing on Friday. Hill stated that the cause of this crash is still being investigated. Reporting by Steve Gorman, Los Angeles; editing by David Gregorio
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US forces kill an alleged senior ISIS terrorist in Syria
The U.S. Military said on Friday that it carried out an operation in Syria which resulted in the death of a senior Islamic State terrorist. The Iraqi Counterterrorism Service announced earlier on Friday that a senior Islamic State official was killed during a security operation carried out in Syria in coordination with the U.S. led international coalition. According to the U.S. Military statement, Omar Abdul Qader was killed in the raid. He had been "seeking an attack on the United States." The statement didn't mention if civilians were also killed in the raid. The Iraqi service reported that the militant, also known as "Abdul Rahman Al-Halabi", was the head of the group's external operations and security. The Iraqi service claimed that he was responsible for planning and executing attacks in Europe and America, including the bombing Iran's embassy, as well as overseeing multiple attacks across the globe, including the bombing Iran's embassy. The U.S. Central Command conducted a series strikes against Islamic State figures within Syria. U.S. officials warned that the group was hoping to stage a return in the country after the fall of Syrian president Bashar al-Assad in December last year.
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Stellantis introduces a lighter and faster-charging EV Battery
Stellantis revealed a prototype electric vehicle on Friday, featuring a lighter, faster charging and more affordable battery. This eliminates the requirement for an inverter or charger. IBIS, the Intelligent Battery Integrated System (Intelligent Battery Integrated System), was developed by TotalEnergies subsidiary Saft in partnership. Stellantis stated that it is the first system of its kind, and offers weight and space saving and is easier for service. The new system has a 10% higher efficiency than an electric vehicle with the same size battery, and it reduces charging times by one hour. The public has been unable to accept EVs because of the lack of affordable models, and long charging times. The German manufacturer Porsche has also been working on a concept for a "modular multiple-level inverter", which integrates numerous electrical components into one unit. The new IBIS Battery is currently being road tested in a Peugeot E-3008. Stellantis stated in a release that "this milestone marks a significant step forward in electrifying mobile and stationary applications of energy." According to the Franco-Italian-American automaker, this technology could be integrated into its production vehicles by the end of the decade. Modern EVs use inverters to convert direct current from the battery into alternating to power the motor. In the charging mode, the grid's alternating current is converted to direct current. Stellantis stated that the IBIS integrates these functions directly into the battery, using electronic control through 200 transistors. This reduces vehicle weight by up to 40 kg (88 pounds), and frees up space while reducing charging times by 15 percent. (Reporting and editing by Gilles Guillaume)
Austrian energy executive terminated over alleged Russian spying connections - magazine report
The Austrian Oil, Gas and Chemicals Group OMV fired a senior executive after allegations that he was spying for Russia. A Russian diplomat was summoned by the Foreign Ministry to Vienna in response to this affair, according the news magazine Profil.
The OMV employee, according to Profil magazine, allegedly attracted the attention of Western intelligence services through his meetings with a Russian diplomatic suspect of being a Russian domestic intelligence service FSB agent.
The magazine reported that Austria's Directorate of State Security and Intelligence (DSSI) had monitored the OMV executive who was not named for several months.
OMV informed the employee that the contract had been terminated with immediate effect. The company also stated it was fully cooperating with the authorities.
OMV's spokesman stated that "for data protection purposes, we are unable to comment on any further details about individual employment relationships".
The Austrian Foreign Ministry confirmed that it was aware of both the allegations against the Russian diplomat and the criminal proceedings pending.
The Foreign Ministry has summoned the charge d'affaires from the Russian Embassy in Vienna and requested that the immunity of the diplomat be waived.
The Ministry said that if he had not been able to return, he would be considered persona non-grata.
No one could be reached to comment on the Russian Foreign Ministry.
The Profil report states that the OMV employee was temporarily transferred to Abu Dhabi National Oil Company in the United Arab Emirates. Adnoc holds a 25 percent stake in OMV.
Adnoc and OMV will merge their polyolefin companies Borouge, and Borealis in order to create a chemical powerhouse worth $60 billion.
The magazine reported that the OMV employee was able to provide the Russian diplomat with information about both companies during their meetings in Vienna.
Adnoc didn't immediately respond to our request for comment. (Reporting and writing by John Revill in Vienna. Alexandra Schwarz Goerlich reported from Vienna. (Editing by Jane Merriman).
(source: Reuters)