Turkey said on Thursday that it would be accepting applications for the construction and operation of a 1,200-MW offshore wind farm—the world’s biggest—by October 23. Source: Oil Price
Economics
Chinese oil customers plan to reduce their intake of U.S. crude oil from September onwards to avoid a possible import tariff on American oil in China, due to the uncertain outcome of the current trade tensions, Reuters reported on Thursday, citing Chinese industry sources. Source: Oil Price
Eurozone ministers declared the end of the Greek debt crisis early Friday agreeing debt relief and a big cash payout for Greece, part of a broad bailout exit deal that will close eight years of financial rescues for cash-strapped Athens. Source: France24
OPEC and allies including Russia will boost oil production starting next month, offering relief to consumers after Saudi Arabia secured a last-minute deal to overcome Iran’s veto threat. Source: Bloomberg
German industrial gases company Linde (LING.DE) and U.S. peer Praxair (PX.N) have offered concessions in a bid to address EU antitrust concerns and secure approval for their merger. Source: Reuters
Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world’s two largest economies, multiple industry sources said. Source: Reuters
The biggest U.S. shale region will have to shut wells within four months because there aren’t enough pipelines to get the oil to customers, the head of one of the industry’s largest producers said. Source: Bloomberg
n January 2018, pictures appeared on social media of the Haiyang Shan, one of the Chinese People’s Liberation Army Navy’s Type 072III-class landing ships, packing an experimental electromagnetic railgun in a huge turret on its bow. Now, the U.S. Intelligence Community reportedly believes this weapon, or one similar to it, will be operational onboard one of China’s warships by 2025. Source: The drive
Lasers have been used to target US aerial operations in the Pacific, with 20 incidents recorded since September of last year, according to a US military official. Source: CNN
A number of migrants from Asia and Africa have taken advantage of the World Cup in Russia to try and reach the EU. Several have made it across to Finland, according to a German media report. Source: Deutsche Welle
Bulgaria will propose the immediate closure of the European Union’s external borders to migrants and the setting up of centers for war refugees outside its territory at the EU’s weekend mini-summit on migration. Source: Reuters
Austria’s Chancellor Sebastian Kurz on Wednesday raised the spectre of a ‘catastrophe’ similar to the events of 2015 if Europe does not agree a common response on migration. Source: The Local
Italy on Friday urged Malta to take in a ship carrying more than 200 rescued migrants as the new government pressures European partners to shoulder more of the burden of immigration from North Africa. Source: Reuters
French President Emmanuel Macron said on Thursday populism was spreading across Europe like a disease that Europeans should fight more vigorously instead of criticizing the actions of pro-European governments like his. Italy’s anti-establishment leaders, clearly assuming Macron was referring to them, hit back by dismissing the 40-year-old French president as a “chatterbox” and accusing him of hypocrisy in his stance over immigration. Source Reuters
North Korean leader Kim Jong Un and Chinese President Xi Jinping discussed measures to bolster “strategic and tactical” cooperation between the two countries in a second meeting on Wednesday, the North’s state media said on Thursday. Source: Reuters
Turkey will receive its first two F-35 fighter jets on Thursday, despite earlier attempts by the United States Senate to block the sales of the military equipment, the country’s Deputy Prime Minister Bekir Bozdag has said. Source: Al Jazeera
The bonds between Europe and North America are under strain and there’s no guarantee the trans-Atlantic partnership will survive, the head of NATO warned Thursday. Source: U.S. News
- The warship-mounted electromagnetic railgun is expected to enter China’s arsenal by 2025, according to sources with direct knowledge of a U.S. intelligence report.
- Railguns have long appeared on Russian, Iranian and U.S. military wish lists as cost-effective weapons that give navies the might of a cannon with the range of a precision-guided missile.
- China’s railgun is capable of striking a target 124 miles away in under 90 seconds, according to the report. Source CNBC
Turkey said on Thursday that it would be accepting applications for the construction and operation of a 1,200-MW offshore wind farm—the world’s biggest—by October 23. Source: Oil Price
Chinese oil customers plan to reduce their intake of U.S. crude oil from September onwards to avoid a possible import tariff on American oil in China, due to the uncertain outcome of the current trade tensions, Reuters reported on Thursday, citing Chinese industry sources. Source: Oil Price
Eurozone ministers declared the end of the Greek debt crisis early Friday agreeing debt relief and a big cash payout for Greece, part of a broad bailout exit deal that will close eight years of financial rescues for cash-strapped Athens. Source: France24
OPEC and allies including Russia will boost oil production starting next month, offering relief to consumers after Saudi Arabia secured a last-minute deal to overcome Iran’s veto threat. Source: Bloomberg
German industrial gases company Linde (LING.DE) and U.S. peer Praxair (PX.N) have offered concessions in a bid to address EU antitrust concerns and secure approval for their merger. Source: Reuters
Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world’s two largest economies, multiple industry sources said. Source: Reuters
East Libyan forces took full control of Ras Lanuf oil terminal and the surrounding area on Thursday as they rapidly advanced against rivals who seized the port a week ago, a spokesman said. “Our armed forces fully control the Ras Lanuf district and the enemy suffered large losses in lives and equipment,” Libyan National Army (LNA) spokesman Ahmed al-Mismari said. Source Reuters
The biggest U.S. shale region will have to shut wells within four months because there aren’t enough pipelines to get the oil to customers, the head of one of the industry’s largest producers said. Source: Bloomberg
Luxembourg will have to recover about €120 million in unpaid tax from French energy giant Engie, after the European Commission found the Grand Duchy guilty of breaching strict state aid rules. Source: Euractiv
Iran put itself on a collision course with Saudi Arabia at this week’s OPEC meeting, rejecting a potential compromise that would allow a small oil-production increase to appease energy consumers. Source: Bloomberg
A raft of retaliatory tariffs from the European Union on US products will come into effect on June 22. The EU’s list of targets reads like a summary of emblematic American exports, including motorbikes and jeans. Source: Deutsche Welle
