2025-09-06 10:36

BAGHDAD, Sept 6 (Reuters) - Iraq hopes fellow producers will reconsider its oil export quota to better reflect its production capacity, Iraqi Prime Minister Mohammed Shia al-Sudani said on Saturday. He also said there would be arrangements to facilitate the entry of major oil companies to the country. Sign up here. https://www.reuters.com/business/energy/iraq-hopes-fellow-producers-will-reconsider-its-oil-export-quota-prime-minister-2025-09-06/

2025-09-06 07:29

BEIJING/HONG KONG, Sept 6 (Reuters) - Another tanker carrying liquefied natural gas from Russia’s sanctioned Arctic LNG 2 project has docked in a Chinese port, ship-tracking data showed, days after Russian President Vladimir Putin met China's leader Xi Jinping in Beijing. The LSEG tracking data indicated the Russian Voskhod LNG tanker was anchored at an LNG terminal in the port of Tieshan in China's southwestern province of Guangxi. Sign up here. The Russian flagged tanker, with a cargo of 150,000 cubic metres of LNG, was loaded up at the Arctic LNG 2 facility in Gydan in northern Siberia on July 19, LSEG data showed. The cargo is the second from the sanctioned project to dock in China after sanctioned tanker Arctic Mulan arrived at the Beihai LNG terminal in late August. Arctic Mulan's cargo was the first from Arctic LNG to reach an end-user since it started up last year. Reuters was not immediately able to ascertain if the LNG was discharged at Tieshan port, and telephone calls to the port went unanswered. The Arctic project began production in December 2023, but is behind schedule in supplying cargoes of the gas, because of shortages of ice-class gas carriers and Western sanctions over Russia's conflict with Ukraine. The cargo arrives days after Putin's high-profile trip to China for the Shanghai Cooperation Organisation summit and a military parade to celebrate the end of World War Two. Arctic LNG 2, 60%-owned by Russia's Novatek (NVTK.MM) , opens new tab, was set to become one of the country's largest LNG plants, with target output of 19.8 million metric tons per year, but sanctions have clouded its prospects. Last year, eight cargoes were loaded from Arctic LNG 2 onto several sanctioned LNG vessels, Kpler data shows, four of them discharged into the Koryak FSU. This year, six known cargoes have been loaded from the project, with some sanctioned tankers travelling east along the Northern Sea Route. Two tankers are now berthed on the Kamchatka peninsula in the Russian far east, with a third in the South China Sea between Taiwan and Hainan island, according to LSEG data. https://www.reuters.com/world/china/second-known-tanker-carrying-sanctioned-russian-arctic-lng-berths-china-2025-09-06/

2025-09-06 06:45

HONG KONG, Sept 6 (Reuters) - Another tanker carrying liquefied natural gas from Russia’s sanctioned Arctic LNG 2 project has docked in a Chinese port, according to ship-tracking data, days after Russian President Vladimir Putin met China's leader Xi Jinping in Beijing. LSEG ship-tracking data indicated the Russian Voskhod LNG tanker was "anchored" at an LNG terminal in Tieshan port in the southern Chinese province of Guangxi. Sign up here. The cargo is the second from the sanctioned project to dock in China after sanctioned tanker Arctic Mulan arrived at China’s Beihai LNG terminal in late August. Arctic Mulan's shipment was the first time a cargo from Arctic LNG had reached an end-user since it started up last year. The Arctic project in northern Siberia began production in December 2023, but is behind schedule in supplying cargoes of the gas because of shortages of ice-class gas carriers and Western sanctions over Russia's conflict with Ukraine. The cargo arrives days after Putin's trip to China to attend the Shanghai Cooperation Organisation summit as well as a military parade to celebrate the end of World War Two. https://www.reuters.com/world/china/tanker-carrying-sanctioned-russian-lng-berths-china-2025-09-06/

2025-09-06 00:46

Choices include current, former Fed governor and White House aide Trump pushes for significant rate cut as job market weakens Treasury secretary rules himself out WASHINGTON, Sept 5 (Reuters) - U.S. President Donald Trump's short list of candidates to succeed Jerome Powell as chair of the Federal Reserve now includes his aide Kevin Hassett, former Fed Governor Kevin Warsh and current Fed Governor Christopher Waller. Trump told reporters at the White House that the three men were the finalists for appointments to the Fed, adding he would consider Scott Bessent, too, but that the Treasury secretary was not interested. Sign up here. Bessent, who was with the president in the Oval Office, confirmed his lack of interest. "I had four," Trump said. "Now I'm talking about three. He (Bessent) told me: 'I'm not leaving'." The president has made clear he intends to install a Fed leader more aligned with his push for rapid interest-rate cuts, browbeating Powell for being "too late" to act on borrowing costs and for hurting home buyers with higher mortgage rates. Powell's Fed has kept rates on hold all year on concern that Trump's tariffs could reignite inflation, although recently his concerns have shifted to center more on the slowing labor market. The choice of a Fed chair will carry high stakes for financial markets, which closely watch Fed leadership changes for clues about the direction of interest rates, inflation policy and the central bank's independence. U.S. job growth weakened sharply in August and the unemployment rate increased to nearly a four-year high of 4.3%, the Labor Department said on Friday, confirming that labor market conditions were softening. Powell last month noted downside risks to the labor market that "may warrant" a careful policy adjustment, remarks that financial markets and analysts took to mean he would likely support a quarter-point interest-rate cut in September. That's far short of the several percentage points of cuts that Trump has demanded. Hassett, the director of the National Economic Council, has been a reliable advocate for Trump's tariffs and other policies, and agrees with Trump that the Fed has kept rates inappropriately high. Warsh has repeatedly called for "regime change" at the Fed. Waller, who ran the St. Louis Fed's research department before Trump picked him to be Fed governor in 2020, would be an institutionalist pick. Bessent released a barrage of criticism against the Fed on Friday and called for a full review of the central bank's operations, from staffing to research to monetary policy. https://www.reuters.com/world/us/trumps-short-list-fed-hassett-warsh-waller-2025-09-05/

2025-09-06 00:10

Sept 5 (Reuters) - U.S. LNG firm New Fortress Energy (NFE.O) , opens new tab posted a wider second-quarter loss on Friday, as lower contributions due to asset sales weighed on its performance. The New York-based company reported a net loss of $556.8 million, or $2.02 per share, in the three months ended on June 30, compared to a loss of $86.9 million, or 44 cents per share, a year earlier. Sign up here. NFE's total revenue fell to $301.7 million in the second quarter, from $428 million a year earlier. The company's adjusted core earnings fell to a loss of $3.7 million, from a profit of $120.2 million a year earlier. In May, the company sold its Jamaican assets and operations to Excelerate Energy (EE.N) , opens new tab for $1.06 billion to reduce debt, impacting earnings for New Fortress Energy. The company said it planned to use the proceeds of the transaction to pay down $270 million on its loan. At NFE's LNG import and regasification unit, the operating margin declined to a loss of $7.2 million during the quarter, swinging from a profit of $214.3 million a year ago. The company's operating margin for its shipping segment fell to $32.2 million during the April-June period, from $34.1 million a year earlier. Last year, the company began exploring options, such as bringing in strategic partners or selling assets, after deferring shareholder dividends to preserve cash and working out a deal with bondholders to push back debt maturities. The company's long-term debt as of June 30 stood at $7.8 billion, it said in its earnings report, compared with $8.93 billion as of March 31. https://www.reuters.com/business/energy/new-fortress-energy-reports-wider-second-quarter-loss-2025-09-06/

2025-09-06 00:09

Sept 6 (Reuters) - President Vladimir Putin urged aerospace industry leaders on Friday to press on with efforts to develop booster rocket engines for space launch vehicles and build on Russia's longstanding reputation as a leader in space technology. Putin, who has spent the past week in China and the Russian far eastern port of Vladivostok, flew to the southern Russian city of Samara, where he met industry specialists and toured the Kuznetsov design bureau aircraft engine manufacturing plant. Sign up here. Quoted by Russian news agencies, Putin said Russia remained a leading force in the development of the aerospace industry. "It is important to consistently renew production capacity in terms of engines for booster rockets," the agencies quoted Putin as saying late on Friday. "And in doing so, we must not only meet our own current and future needs but also move actively on world markets and be successful competitors." Putin noted Russian success in developing innovations in terms of producing engines, particularly in the energy sector, despite the imposition of sanctions by Western countries linked to Moscow's 2022 invasion of Ukraine. "In conditions of restrictions from sanctions, we succeeded in a short period of time in developing a series of innovative engines for energy," Putin was quoted as saying. "These are being actively used, including in terms of gas transport infrastructure." Putin called it "an extremely important theme", particularly for the development of Russian gas exports, including the planned Power of Siberia 2 pipeline under discussion in China this week to bring Russian gas to China. Putin praised the Power of Siberia 2 pipeline as beneficial to both sides. Russia proposed the route years ago, but the plan has gained urgency as it looks to Beijing as a customer to replace Europe, which is trying to reduce Russian energy supplies since the Russian invasion of its smaller neighbour. Putin also pointed to the development of the PD-26 aircraft engine, saying it would allow for the development of military transports and wide-bodied passenger planes. "The development of this project will allow for the modernisation not only of military transport aircraft, but also opens up prospects for construction of a new generation of wide-bodied civil planes," he was quoted as saying. https://www.reuters.com/business/aerospace-defense/putin-urges-russias-aerospace-industry-develop-rocket-engines-2025-09-06/