2025-05-24 19:57
May 24 (Reuters) - An oil leak forced the shutdown of a pipeline south of Libya's city of Zawiya, the National Oil Corporation (NOC) said on Saturday. Zawiya, 40 km (25 miles) west of the capital Tripoli, is home to Libya's biggest functioning refinery, with a capacity of 120,000 barrels per day. The refinery is connected to the country's 300,000-barrels-per-day Sharara oilfield. Sign up here. The NOC posted a picture showing a stream of leaked oil in the desert. Flow from the Hamada oilfields through the affected pipeline was immediately halted, the company said in a statement. "In parallel with the maintenance work, a team of specialists is conducting an investigation to determine the causes of the leak. Arrangements and coordination are also underway to recover the leaked oil and address any resulting environmental pollution," the company added. https://www.reuters.com/world/africa/libya-says-oil-leak-occurs-pipeline-south-zawiya-city-2025-05-24/
2025-05-24 14:17
NIAMEY, May 24 (Reuters) - Niger has asked that some Chinese employees working on oil projects leave the country, documents seen by Reuters on Friday showed, a move that could affect dozens and further strain bilateral ties. Similar to other West African countries, junta-led Niger has been trying to assert greater control over its natural resources and promote local employment. Sign up here. Oil minister Sahabi Oumarou has asked the China National Petroleum Corporation (CNPC) and its refinery SORAZ to terminate the contracts of expatriates who have been working in Niger for more than four years, two letters showed. "China has always adhered to the principles of truth, friendship, sincerity, and the correct view of righteousness and benefit in carrying out cooperation with Africa," a spokesperson for China's foreign ministry said, adding that CNPC had made economic and social contributions in Niger "for many years." "Ensuring the long-term and healthy development of China-Niger oil cooperation is in line with the common interests of both parties," and specific issues that may arise can be resolved through "friendly negotiations," the spokesperson said. In a letter to SORAZ dated May 21, Oumarou indicated there would be some flexibility, saying he understood the need to keep certain employees in the country and that departure decisions would be made on a case-by-case basis. Yet in a separate letter to CNPC, dated May 20, Oumarou said he would decline a private meeting with the company's CEO who had asked to discuss tensions between the two sides. In that letter, Oumarou also accused CNPC of non-compliance with local regulations. In March, Niger expelled three Chinese oil executives in a dispute over disparities between the salaries of expatriate staff and lower-paid local workers. Following the executives' dismissal, CNPC's top officials have been trying to meet with the government for negotiations, a source close to the company said. If the decision described in the May 20 and May 21 letters is applied, dozens of Chinese workers will have to go home, the source said. https://www.reuters.com/sustainability/sustainable-finance-reporting/niger-plans-cut-chinese-oil-workers-documents-show-2025-05-23/
2025-05-24 11:55
Police examining possible arson attack as cause Film Festival closing ceremony to go ahead as planned CANNES, France, May 24 (Reuters) - French police were investigating a possible arson attack as being the main cause for a power outage which hit the Alpes-Maritimes region in southern France on Saturday, including Cannes which is hosting its world-famous annual film festival. "We are looking into the likelihood of a fire being started deliberately," said a spokesperson for the French national gendarmerie, adding that no arrests had been made at this stage. Sign up here. The local authority for the Alpes-Maritimes region had said earlier on Saturday that the western part of the area, which includes Cannes, was suffering from a major electricity outage and that RTE France was working on restoring power. The Cannes Film Festival said the closing ceremony would take place as planned on Saturday evening. "The Palais des Festivals has switched to an independent power supply, allowing all scheduled events and screenings, including the Closing Ceremony, to proceed as planned and under normal conditions," it said in a statement. https://www.reuters.com/business/energy/police-probe-possible-arson-attack-cannes-parts-southern-france-suffer-power-cut-2025-05-24/
2025-05-24 10:16
WASHINGTON, May 24 (Reuters) - (This May 26 story has been corrected to clarify that the EPA, in response to the NYT report, said it was 'developing a proposed rule') The U.S. Environmental Protection Agency has drafted a plan to eliminate all limits on greenhouse gases from coal and gas-fired power plants in the United States, the New York Times reported on Saturday, citing internal agency documents. Sign up here. The EPA argued in its proposed regulation that carbon dioxide and other greenhouse gases from power plants that burn fossil fuels "do not contribute significantly to dangerous pollution" or to climate change because they are a small and declining share of global emissions, according to the NYT report. The EPA also said that eliminating those emissions would have no meaningful effect on public health and welfare, the report added. According to the United Nations, fossil fuels are by far the largest contributors to global warming, accounting for more than 75% of global greenhouse gas emissions and nearly 90% of carbon dioxide emissions. Responding to the NYT story, the EPA said it was developing a proposed rule. "Many have voiced concerns that the last administration's replacement for that rule is similarly overreaching and an attempt to shut down affordable and reliable electricity generation in the United States, raising prices for American families, and increasing the country's reliance on foreign forms of energy," a spokesperson for the agency said in statement. "As part of this reconsideration, EPA is developing a proposed rule. The proposal will be published once it has completed interagency review and been signed by the administrator." The U.S. government under President Donald Trump has moved quickly to remove all federal spending related to efforts to combat climate change and to eliminate any regulation aimed at addressing greenhouse gas emissions as part of its effort to bolster oil, gas and mining operations. On Thursday, the U.S. House of Representatives advanced Trump's sweeping tax and spending bill, which may end numerous green-energy subsidies that have supported the renewable energy sector. Trump's budget package - which he calls "one big beautiful bill" - would eliminate funding established under former U.S. President Joe Biden's administration through the Inflation Reduction Act and repeal grants intended to reduce air pollution, greenhouse gas emissions or purchase electric heavy-duty vehicles. The NYT report adds that the EPA sent the draft to the White House for review on May 2, which could undergo changes before it is formally released and the public is given the opportunity to offer comments, likely in June. https://www.reuters.com/sustainability/climate-energy/documents-show-us-epa-wants-erase-greenhouse-gas-limits-power-plants-nyt-reports-2025-05-24/
2025-05-24 08:00
DUBAI/NEW YORK, May 24 (Reuters) - Saudi state oil giant Aramco is exploring potential asset sales to free up funds, two people with knowledge of the matter said, as it pursues an international expansion and weathers lower crude prices. Aramco (2223.SE) , opens new tab is the world's largest oil-producing company and the main source of Saudi state revenue. The firm will slash dividend payouts by nearly a third this year as lower oil prices hit its income. Sign up here. The company has asked investment bankers to pitch ideas for how to raise funds from its assets, the people said. They declined to say which assets could be sold or name the banks involved. Aramco declined to comment. Aramco is looking to improve efficiency and cut costs, according to two other people with knowledge of the matter, and an option under consideration would be asset sales, one of them said. The four sources declined to be named because they are not authorised to speak to media. Aramco is the engine of the Saudi economy and its sprawling business includes units for aviation, construction and sports. It has retained majority stakes during previous asset sales such as its deals around its pipeline infrastructure. The Saudi government is putting pressure on its industries to improve profitability amid low crude prices and as it spends its hydrocarbon wealth on new sectors to cut reliance on oil. The kingdom faces a widening budget deficit with the International Monetary Fund saying Riyadh needs a price of oil of over $90 per barrel to balance its books compared to prices of around $60 per barrel in recent weeks. Aramco has in recent years made a push to grow its global footprint, including investing in Chinese refineries, Chilean fuel retailer Esmax (ESMAX.O) , opens new tab and U.S.-headquartered LNG firm MidOcean. The Saudi company said last week it signed 34 preliminary deals potentially worth up to $90 billion with U.S. firms following President Donald Trump's visit to the kingdom. https://www.reuters.com/business/energy/saudi-aramco-considers-asset-sales-free-up-funds-sources-say-2025-05-23/
2025-05-24 06:38
MUMBAI, May 24 (Reuters) - Monsoon rains hit the coast of India's southernmost state of Kerala on Saturday, eight days earlier than usual, marking the earliest arrival in 16 years and providing the promise of a bumper harvest and relief from a gruelling heatwave. The monsoon, the lifeblood of the country's $4 trillion economy, delivers nearly 70% of the rain that India needs to water farms and replenish aquifers and reservoirs. Nearly half of India's farmland, without any irrigation cover, depends on the annual June-September rains to grow a number of crops. Sign up here. Summer rains usually begin to lash Kerala around June 1 before spreading nationwide by mid-July, allowing farmers to plant crops such as rice, corn, cotton, soybeans and sugarcane. The onset of the southwest monsoon over Kerala on May 24 is its earliest onset since May 23, 2009, the India Meteorological Department (IMD) said on Saturday. The monsoon has covered Kerala and parts of neighbouring Tamil Nadu and Karnataka, as well as parts of the northeastern state of Mizoram, the IMD said. Conditions are favourable for the monsoon's further spread into Goa, parts of Maharashtra, Andhra Pradesh, the northeastern states, West Bengal, and the remaining parts of Karnataka and Tamil Nadu over the next 2 to 3 days. Surplus pre-monsoon rainfall and an early monsoon onset will help farmers, especially in the southern and central states, to sow summer crops earlier than usual, said Ashwini Bansod, vice president for commodities research at Phillip Capital India, a Mumbai-based brokerage. "Abundant soil moisture and early sowing could potentially boost crop yields," Bansod said. Last year, the monsoon reached the coast of Kerala on May 30, and overall summer rains were the highest since 2020, supporting recovery from a drought in 2023. The IMD last month forecast above-average monsoon rains for the second straight year in 2025. The department defines average or normal rainfall as ranging between 96% and 104% of a 50-year average of 87 cm (35 inches) for the four-month season. https://www.reuters.com/world/india/indias-monsoon-rains-arrive-eight-days-early-says-weather-bureau-2025-05-24/
