2025-10-02 20:43
WASHINGTON, Oct 2 (Reuters) - U.S. President Donald Trump on Thursday said federal workers could be fired and projects cut if a government shutdown continues, even as he suggested Americans might get rebate checks from new tariff revenues. "There could be firings, and that's their fault," Trump said of Democrats in Congress, when asked in an interview with OAN television network about a recent memo from the Office of Management and Budget that raised prospects of firings. Sign up here. "We could cut projects that they wanted, favorite projects, and they'd be permanently cut," he said, adding, "I am allowed to cut things that should have never been approved in the first place and I will probably do that." The federal government partially shut down on Wednesday after Congress failed to reach a funding deal, with only essential services continuing. Trump said revenues from new tariffs were just starting to kick in but could eventually reach $1 trillion a year. He said some of the funds would help pay down the government's debt, which he said could reach $38 trillion. Trump's tariff estimate far exceeds that of Treasury Secretary Scott Bessent, who last month said customs duty revenues from Trump's tariffs could top $500 billion a year. U.S. Treasury data shows the federal government has $37.64 trillion in federal debt. The Republican president said his administration was looking at using tariff revenues to issue rebate checks for Americans. "We also might make a distribution to the people, almost like a dividend to the people of America," Trump told OAN. "We've thinking maybe $1,000 to $2,000. It'd be great." https://www.reuters.com/world/trump-says-there-could-be-firings-project-cuts-if-shutdown-continues-2025-10-02/
2025-10-02 20:34
RIO DE JANEIRO, Oct 2 (Reuters) - BP (BP.L) , opens new tab will seek a partner for its major Bumerangue oil discovery in Brazil and could close a deal before making a final investment decision on the project, the oil major's country head said on Thursday. The British company, which currently holds 100% of the block, in August announced that Bumerangue was its largest oil and gas discovery in 25 years. Sign up here. "The search for a partner will happen over the next one or two years, but it will run in parallel with the evaluation," BP's Brazil chief, Andres Guevara, said during an event in Rio de Janeiro. "For me, almost certainly, the partnership will be closed before we make a FID (final investment decision)... but there's no set date," he added. Brazil's state-owned oil company Petrobras would be a natural partner. Sources at Petrobras told Reuters in August the firm's involvement would likely depend on whether carbon dioxide levels in the field are low enough for commercial viability. The Bumerangue discovery was made while drilling BP's 13th well in Brazil, sparking industry interest by confirming the potential for major finds in pre-salt areas far from established producing regions. "It's relevant for us, but it's also relevant for the country because it revitalizes the pre-salt (sector) after perhaps a decade without major discoveries," Guevara said. BP is currently active in seven blocks in Brazil, operating four of them. The company plans to drill another well next year in the Tupinamba block, which is adjacent to Bumerangue. BIOENERGY FOCUS Separately, Guevara said BP is considering investments in corn-based ethanol plants in Brazil, citing synergies with its existing sugarcane operations. Guevara mentioned opportunities for shared infrastructure, such as storage tanks, or using leftover sugarcane fiber to power the corn ethanol plants. BP is one of Brazil's leading ethanol and sugar producers, with 11 plants across five states. https://www.reuters.com/business/energy/bp-seek-partner-brazil-bumerangue-block-2025-10-02/
2025-10-02 20:21
Alberta to lead early planning for new pipeline Federal cap on emissions a hurdle for pipeline investment Enbridge CEO demands lifting of tanker ban for pipeline feasibility CALGARY, Oct 2 (Reuters) - Canada and Alberta are not far apart on the terms of a bargain that would create the conditions for a new oil export pipeline to be built in the province in exchange for certain environmental commitments, Premier Danielle Smith told Reuters on Thursday. Smith on Wednesday announced plans for Canada's main oil-producing province to take the lead on early planning for a pipeline. Sign up here. "We're about 80% in agreement on most of the aspects," Smith said in an interview. "The fact of the matter is, the ball is now in (Canadian Prime Minister) Mark Carney's court." The federal government did not immediately respond to a request for comment. Smith said her government has no intention of building the pipeline from Alberta's oil sands to the Northwest coast of British Columbia itself. Canadian pipeline companies Enbridge (ENB.TO) , opens new tab, South Bow (SOBO.TO) , opens new tab and government-owned Trans Mountain have agreed to provide advice and technical support to Alberta as it develops its proposal, according to Smith. Smith said if Alberta's pipeline proposal does get the greenlight from Canada's government, she is confident a private sector company will come forward to build the project. In a speech to a business crowd in Toronto on Thursday, Enbridge CEO Greg Ebel said Canada will have to drop its ban on oil tankers off the northwest B.C. coast before any pipeline company commits to what Alberta is proposing. "No company would build a pipeline to nowhere," Ebel said. B.C. Premier David Eby said on Wednesday his province has supported the tanker ban from its inception and remains adamant that the legislation stay in place. South Bow and Trans Mountain have not commented on the proposal. Reuters reported , opens new tab in September that Carney's government is in talks with Alberta and the energy sector about eliminating a federal emissions cap on Canada's oil and gas sector in exchange for the industry and province reducing their carbon footprint in other ways. The federal government has also been clear that any pipeline proposal by Alberta must be contingent on the proposed Pathways carbon capture and storage project moving ahead in order to be considered for fast-tracking. Smith declined to say what other commitments the federal government may be asking Alberta to make. Alberta's government said the proposed pipeline could carry up to 1 million barrels per day. Canada achieved record oil production in 2024 as the completion of the Trans Mountain pipeline expansion boosted oil companies' ability to get their product to market. Many analysts have suggested Trans Mountain will be full between 2027 and 2028 as Canada tries to diversify oil exports and rely less on the U.S. market. https://www.reuters.com/sustainability/climate-energy/alberta-canada-are-80-aligned-potential-pipeline-proposal-premier-says-2025-10-02/
2025-10-02 20:01
PARIS, Oct 2 (Reuters) - At least four LNG-laden tankers bound for the Zeebrugge LNG terminal in Belgium were either diverted or left idling during a 30-hour Greenpeace blockade to protest against European Union imports of Russian gas, LSEG data showed on Thursday. Belgium is the second-largest European importer of Russian LNG, receiving 2.3 million metric tons over the first eight months of the year, behind France's 4 million tons over the same period. Sign up here. LSEG analysts said the Megara and the Rias Baixas Knutsen, both carrying cargo from the United States, and the LNG Phecda, carrying Russian gas, appeared to have changed course. The Megara was heading south away from the port late Thursday, while the other two ships had spent the day idled, LSEG data showed. The Arctic Voyager, coming from Norway, also remained idled off the coast of Belgium, the data showed. POLICE ARREST PROTESTERS The Arctic Voyager is now expected to arrive later Thursday evening, while the other three were expected over the course of the week, LSEG data showed. Greenpeace started its action on Wednesday afternoon, using kayaks, life rafts and a sail boat to block the entrance of the terminal to protest against continued imports of Russian LNG to the European Union, despite Moscow's war in Ukraine. Police arrested the protesters in the evening and dispersed the blockade of the terminal after several warnings, Greenpeace said. There was no impact on the operations or output flow of the terminal itself, Fluxys said. Other ships carrying cargo not destined for the LNG terminal have not been interrupted, but needed to proceed with more caution due to the protests, a spokesperson for the Port of Antwerp-Bruges said. The EU plans to ban Russian LNG imports a year earlier than envisaged as part of a 19th package of sanctions against Moscow following pressure from U.S. President Donald Trump. https://www.reuters.com/sustainability/sustainable-finance-reporting/lng-tankers-diverted-belgian-terminal-amid-greenpeace-blockade-2025-10-02/
2025-10-02 19:52
Trump threatens more cuts, targets Democratic priorities Standoff to continue until Friday at the earliest WASHINGTON, Oct 2 (Reuters) - U.S. President Donald Trump said he will meet with his budget director Russell Vought on Thursday to determine which "Democrat Agencies" to cut, as he looks to inflict pain on his political opposition in the second day of a government shutdown. "I can’t believe the Radical Left Democrats gave me this unprecedented opportunity," Trump said in a social media post. Sign up here. Trump has already frozen federal transit and green-energy funding for Democratic-leaning states and has threatened to fire more federal workers during the shutdown, which began on Wednesday due to a partisan standoff in Congress. Trump is already on track to push out 300,000 federal workers by the end of the year. In his post, Trump mentioned Vought's involvement with Project 2025, a plan by the conservative Heritage Foundation that calls for radically downsizing the federal government. Trump's administration has already pursued many aspects of that plan, such as dismantling the Department of Education and curtailing the government's power to fight pollution. White House spokeswoman Karoline Leavitt said Trump could fire thousands of workers, though she did not provide details. Several federal employee unions have filed a lawsuit to prevent that from happening, but federal courts have allowed layoffs to proceed while similar cases are being litigated. Senator Patty Murray, top Democrat on the Appropriations Committee, warned Trump that more firings would not help to end the legislative logjam that has shut the government. “If the president fires a bunch of people, it’s not because of his shutdown—it’s because HE decided to fire them,” Murray, of Washington state, said on social media. "People aren’t negotiating tools & it's sick that the president is treating federal workers like pawns. Making threats and choosing to hurt people won't win my vote.” The government shutdown, the 15th since 1981, has suspended scientific research, , economic data reports, and a wide range of other activities. Major benefit programs, like Social Security, will continue to send out payments. A standoff in Congress has frozen about $1.7 trillion in funds for agency operations, which amounts to roughly one-quarter of annual federal spending. Much of the remainder goes to health and retirement programs and interest payments on the growing $37.5 trillion debt. TWO MILLION WORKERS' PAY SUSPENDED Pay has been suspended for roughly 2 million federal workers, with roughly 750,000 ordered not to work and others, such as troops and Border Patrol agents, required to work without pay. Many could face personal hardship if the standoff is not resolved before October 15, when the next paychecks are due to be issued. A prolonged shutdown could disrupt air travel, threaten food aid for millions of Americans, and weigh on exports and mortgage applications. However, past shutdowns have not had a lasting impact on the broader U.S. economy. The longest lasted 35 days in 2018 and 2019, during Trump's first term, due to a dispute over immigration. The shutdown was triggered at midnight Tuesday, when Democrats and Republicans were unable to agree on a spending bill that would have allowed agency operations to continue past October 1, the start of the new fiscal year. Democrats insist that any funding bill must also extend health subsidies that are due to expire at the end of the year, while Republicans say the two issues must be dealt with separately. The shutdown will persist at least until Friday, when the Senate next convenes to address the issue. Trump's Republicans hold majorities in both chambers of Congress but Senate rules mean they will need the votes of at least seven Democrats to pass a funding bill. In the meantime, Trump has made clear he will pile pressure on his opponents by targeting government programs they favor. Democrats have said this amounts to hostage-taking that throws regular Americans out of work and also violates Congress' constitutional authority over federal spending. Republicans have shown little concern so far, arguing that the administration can prioritize spending as it sees fit if Congress abdicates its responsibility to pass spending bills. "When Congress turns off the funding and the funding runs out, it is up to the commander in chief, the president of the United States, to determine how those resources will be spent," House of Representatives Speaker Mike Johnson told reporters. "He has that responsibility given to him by the Democrats in the Senate. They can't complain about it." https://www.reuters.com/world/us/trump-discuss-agency-cuts-with-ombs-vought-thursday-2025-10-02/
2025-10-02 19:45
SAO PAULO, Oct 2 (Reuters) - Brazilian meatpacker JBS (Z98.F) , opens new tab on Thursday announced investments of $70 million in Paraguay over the next two years, including the acquisition of a chicken processing plant, according to a statement. The acquisition of Paraguayan chicken brand Pollos Amanecer, which owns a poultry plant in the Doctor Juan Eulogio Estigarribia district, from firm Campo 9 represents the first phase of JBS's new investment cycle in Paraguay, it said. Sign up here. WHY IT'S IMPORTANT JBS is the world's largest meat producer, employing more than 280,000 people in countries such as Brazil, the United States, Canada, the United Kingdom, Mexico and Australia. The move, announced during the visit of Paraguayan President Santiago Peña to a plant of JBS in Brazil, marks JBS's return to Paraguay after the company sold cattle slaughterhouses in 2017 to Brazilian rival Minerva (BEEF3.SA) , opens new tab. KEY QUOTES "We are confident that this operation will be a growth engine for the country," said JBS Chief Executive Officer Gilberto Tomazoni in a statement, adding the move would also accelerate "Paraguay's presence in the global chicken market." "Paraguay offers good conditions for the development of poultry farming, and this investment reinforces our strategy of increasing the company's competitiveness and diversification," the CEO said. BY THE NUMBERS After expansion and modernization works, the plant will reach a processing capacity of 100,000 birds per day, said JBS, noting the goal is to keep supplying the domestic market and also kick off exports from the unit. The production complex currently has 19 poultry sheds, and the plan is to reach a total of 139 when the expansion is completed, the company said. The complex will include 28 farms for genetic material, hatcheries, and a feed mill, according to JBS. At full capacity, the plant will operate with approximately 1,100 employees, including manufacturing and administrative staff, it added. https://www.reuters.com/markets/commodities/jbs-returns-paraguay-with-70-million-investment-including-plant-purchase-2025-10-02/
