Mexico's Pemex says it addressed a leak from a Gulf of Mexico pipeline
MEXICO CITY, May 9 (Reuters) - Mexican state energy company Pemex said on Friday that it addressed a hydrocarbon leak from a pipeline that transports crude oil from the Akal-C platform in the Gulf of Mexico to the maritime terminal in the port of Dos Bocas.
Pemex, which had said on Wednesday evening that the cleanup was expected to be completed in the next few hours, said on Friday that "containment measures" continued and that it was preventing additional arrivals at the normally busy terminal.
It came a week after an incident temporarily shut down operations at the company's new Olmeca refinery nearby.
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Reuters
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- Reuters
Commentary
Disinflation is a greater force right now than inflation Investors, consumers and policymakers may justifiably fear the specter of tariff-fueled inflation later this year and beyond, but it's powerful global disinflationary forces that are weighing most heavily right now. Five charts on key US electricity and power generation trends U.S. power producers have lifted output from both fossil fuels and clean energy sources to new highs so far in 2025, on the back of steadily rising energy demand from data centers, businesses and households. Asia could outstrip Europe as key beneficiary of U.S. capital flight As global investors consider reducing their exposure to U.S. financial assets, the key question is where money flowing out of the U.S. will go. While Europe may be the obvious destination, relative value metrics may favour emerging Asia. Foreign exposure to US assets may be lower than feared It is widely believed that investors around the world have a disproportionately high exposure to U.S. assets, particularly stocks, an imbalance that could roil U.S. markets if corrected. But what if these fears are overblown? Rio Tinto bets lithium will retain its battery metal crown It's a tough time to be a lithium producer as the light metal sinks under the weight of excess supply. BP needs to scrap its Big Oil mentality, and its buybacks BP has jumped from crisis to crisis in recent years, severely eroding the British firm's stature as one of the world's leading oil companies. Given the increasingly challenging dynamics in today's oil market, BP may finally need to accept that it is no longer a true oil major and can't keep managing cash like one. Eastern Europe's stealthy surge in solar generation Eastern Europe is often overlooked in discussions about solar power generation in Europe, where the likes of Germany and Spain dominate the growth in deployed solar electricity production. India's iron ore imports to trend higher, but it's no China The rise of India's steel sector is touted as a boost for iron ore miners seeking to find new markets as China's output eases, but the reality is likely to fall short of the hype.
Reuters
2 days ago
- Reuters
Senior Taiwan official visits site of new Alaska LNG project
TAIPEI, June 7 (Reuters) - A senior Taiwanese official said on Saturday he had this week visited the site of a potentially enormous new liquified natural gas (LNG) project in Alaska that the Trump administration has been pushing hard to allies in Asia as a supply option. Energy developer Glenfarne had said on Tuesday that 50 firms had formally expressed interest in contracts worth more than $115 billion from its Alaska LNG project, a massive infrastructure deal championed by U.S. President Donald Trump. Writing on his Facebook page, Pan Men-an, secretary-general to Taiwan President Lai Ching-te, said he had attended an energy conference in Alaska at the invitation of U.S. Secretary of Energy Chris Wright and visited the state's North Slope. Phase One of the project is expected to deliver natural gas about 1,230 km (765 miles) from the North Slope to the Anchorage region. "Despite the freezing temperatures, we talked enthusiastically about building resilience and responsibility as democratic partners in the face of global climate change and the challenges of authoritarianism," Pan wrote. "In the face of trade challenges and international turbulence, we have no choice but to rise to the occasion," he said, without mentioning whether he had signed any deals while there. The presidential office said late on Friday that Pan had been accompanied by Fang Jeng-zen, chairman of Taiwan's state-owned energy company CPC. CPC in March signed a non-binding agreement to buy LNG and invest in the project, a move Taiwan's president has said would ensure the island's energy security. If built, the Alaska LNG project will export up to 20 million metric tons of the superchilled gas a year. It would open direct access for U.S.-made LNG to Asian markets without having to go through the Panama Canal or around the Horn of Africa, reducing transit time and costs. Taiwan has pledged to massively ramp up its purchases from the United States, including energy, to reduce a yawning trade surplus that has angered Washington.
BBC News
2 days ago
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India leads in remittances - but Trump's tax could deal a blow
A study by Center for Global Development, a Washington-based think tank, suggests the proposed tax could sharply cut formal transfers, with Mexico facing the biggest hit - over $2.6bn annually. Other major losers include India, China, Vietnam and several Latin American nations like Guatemala, the Dominican Republic and El Salvador. To be sure, there's still some confusion surrounding the tax, and final approval is pending Senate action and the President's signature. "The tax applies to all non-citizens and even embassy and UN/World Bank staff. But those who pay taxes can claim a tax credit. Thus, the remittance tax would apply only to those migrants who do not pay taxes. That would mostly include unauthorised migrants (and diplomats)," Dilip Ratha, the World Bank lead economist for migration and remittances, told the BBC. Dr Ratha wrote in a note on LinkedIn that migrants would try to cut remittance costs by turning to informal methods - hand-carrying cash, sending money through friends, couriers, bus drivers or airline staff, arranging local currency payouts via friends in the US, or using hawala, hundi and cryptocurrencies. "Will the proposed tax deter unauthorised immigration to the US? Will it encourage unauthorised migrants to return home?" wonders Dr Ratha. Not quite, he says. A minimum wage job in the US earns over $24,000 a year - roughly four to 30 times more than in many developing countries. Migrants typically send home between $1,800 and $48,000 annually, estimates Dr Ratha. "A 3.5% tax is unlikely to deter these remittances. After all the main motivation for migration - migrants trying to cross oceans and rivers and mountains - is to send money home to help helpless family members."
