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34d06/10

China Unveils Nuclear-Powered Floating Hub for Zero-Emission Shipping

China has proposed a large offshore logistics platform powered by nuclear energy that would function as both a cargo transfer hub and a refuelling/charging centre for ships, according to the South China Morning Post. The concept, unveiled by Jiangnan Shipyard, combines port infrastructure, energy generation, and cargo handling into a single floating facility aimed at reducing emissions in maritime transport. The project was presented at the Posidonia International Shipping Exhibition in Greece.

◇ unclassifiedmiddle-east · russia · usa
34d06/10⚠ shipping-routes · 3/5

Hormuz Shutdown Forces Malaysia to Overhaul Crude Supply Chain

Malaysia is looking to diversify its crude sourcing with supply from the U.S., South America, and Africa as the Hormuz crisis has choked off its key Middle Eastern deliveries, Malaysian Economy Minister Akmal Nasrullah Mohd Nasir said on Wednesday. The Asian economies were the first to be hit by the lack of supply from the Strait of Hormuz as the region depended on Middle Eastern crude, naphtha, and fuel supply for most of its demand. Countries have scrambled for alternative supply over the past

◇ unclassifiedmiddle-east · russia · usa
34d06/10⚠ war-conflict · 3/5

UK Economy Set to Shrink as Iran Energy Shock Hits Growth

The UK economy is expected to contract despite a boost at the start of the year, with economists warning that the war in Iran’s energy price shock will now show up in fresh data. Economists believe that the UK economy declined by 0.1 per cent in April. Official figures will be published on Friday. The drop in growth momentum will reflect the late impact of the war in Iran on businesses and consumers, City analysts have said, as political uncertainty around the Labour Party’s leadership could als

◇ unclassifiedmiddle-east · russia · usa
34d06/10

EnQuest Bets $833 Million on Malaysia's Offshore Oil

EnQuest PLC has agreed to buy interests in four production sharing contracts offshore Malaysia from local state firm Petronas for up to $833 million, as the UK-based oil and gas producer bets on growth opportunities in Southeast Asia. EnQuest on Wednesday said that its wholly-owned subsidiary, EnQuest Petroleum Production Malaysia Limited, has agreed to acquire three separate packages that include interests in four offshore production sharing contracts in Malaysia. The proposed acquisitions invo

◇ unclassifiedmiddle-east · russia · usa
34d06/10

U.S. Oil Inventories Continue Slide as Refiners Boost Runs

Crude oil inventories in the United States decreased by 7.2 million barrels during the week ending June 5, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The decrease brings commercial stockpiles to 426.5 million barrels, according to government data, which is now 5% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories saw a dr

◇ unclassifiedmiddle-east · russia · usa
34d06/10⚠ sanctions · 3/5

EU Moves Against Russian LNG Shipping As Arctic Gas Imports Surge

Brussels is proposing new restrictions on Russia’s LNG shipping sector even as Europe remains the primary destination for Russian Arctic gas, receiving nearly 97% of Yamal Arctic LNG exports so far this year. European Commission President Ursula von der Leyen has unveiled the European Union’s 21st sanctions package against Russia, which includes a proposed ban on the sale of LNG tankers to Russian interests and new restrictions targeting vessels that support Moscow’s energy export network. The p

◇ unclassifiedmiddle-east · russia · usa
34d06/10⚠ war-conflict · 4/5

Washington Walks a Tightrope After Striking Iran

The US strikes on Iranian air defense and radar systems appear intended as a limited warning to Tehran rather than the opening salvo of a broader military campaign, according to senior US officials and regional security experts. The attacks targeted several Iranian air defense and radar systems, with another US official telling RFE/RL that the operation was "ongoing" and focused on air defenses and radar installations. Iranian state media reported explosions in several locations across Hormozgan

◇ unclassifiedmiddle-east · russia · usa
34d06/10⚠ coups-regime · 3/5

KKR Eyes $6.7 Billion Takeover of Irish Energy Distributor DCC

A consortium led by private equity firms KKR and Energy Capital Partners is in advanced discussions to acquire Irish energy distributor DCC in a deal that could value the company at more than £5 billion ($6.7 billion), according to a Reuters report citing Sky News. The latest proposal reportedly values DCC at roughly £65 per share, representing a significant increase from the consortium’s earlier £58-per-share offer that was rejected by the company in April. At the time, DCC’s board unanimously

◇ unclassifiedmiddle-east · russia · usa
34d06/10

Proposed Sai Kung marine park to cover most coral reefs: Hong Kong authorities

A planned marine park in waters surrounding Sharp Island in Sai Kung will cover most coral reefs, Hong Kong authorities have said, allaying a green group’s concerns about insufficient protection of ecologically sensitive areas. Janet Lee Ka-wai, senior marine conservation officer at the Agriculture, Fisheries and Conservation Department, also said on Wednesday that underwater mapping technology had been used to assess coral coverage and identify ecological sites. Major coral spots identified in.

◇ unclassifiedchina · asia
34d06/10

Solar Tops Coal in U.S. Power Mix for the First Month Ever

Solar power held a record-high 12.8% share of U.S. electricity supply in May, overtaking coal-generated power for the first full month on record, energy think tank Ember said in a report on Wednesday. While the share of solar-generated power jumped to a record high for a full month, the share of coal in the U.S. electricity mix slumped to 12.2% last month, the fourth-lowest monthly share of coal ever. Solar generated an all-time high total of 45.5 terawatt-hours (TWh) in May, up by 17% from a ye

◇ unclassifiedmiddle-east · russia · usa
34d06/10⚠ shipping-routes · 2/5

Kazakhstan Oil Buyers Demand More Supply as Hormuz Closure Tightens Market

Customers buying oil from Kazakhstan are urging the OPEC+ producer to ramp up crude supply and deliver the maximum available volumes, Kazakhstan’s Energy Minister Yerlan Akkenzhenov said on Wednesday. “In light of restrictions in the Strait of Hormuz, our partners are asking us to increase supplies,” Reuters quoted Akkenzhenov as telling reporters in Astana today. “They are asking for the maximum,” the minister said, but added that “Naturally, we have infrastructure constraints within the limits

◇ unclassifiedmiddle-east · russia · usa
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