Qatar's First LNG Expansion Project Cargoes to Start by Mid-2026
Qatar said it will start exporting liquefied natural gas from its first domestic expansion project by the middle of next year, clarifying a closely watched timeframe for when operations will begin.
QatarEnergy will start supplies from North Field East by mid-2026, Energy Minister Saad Sherida Al-Kaabi told Bloomberg News at the Qatar Economic Forum in Doha on Tuesday. The startup of the project — which will boost Qatar's annual LNG output capacity to 110 million tons from 77 million tons now — is in focus amid elevated demand and delays at a number of projects globally.
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Bloomberg
3 hours ago
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This Burning Tariff Question Has No Answer... Yet
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New York Post
14 hours ago
- New York Post
How a female Ukrainian hacker exposed a botched SEC case against day traders
A Ukrainian hacker who was held at gunpoint by a gang of cocaine-sniffing cybercriminals helped the Securities and Exchange Commission blow the lid of of a high-profile breach case that had wrongly accused American day traders, according to a report. Olga Kuprina, known by her online persona 'Ghost in the Shell,' became a whistleblower for the federal agency in the shocking cyberattack that infiltrated the SEC's Edgar filing system in 2016, Bloomberg News reported on Monday. Surrounded by cocaine, laptops and armed men, Kuprina was trapped by a local crime boss, Artem Radchenko, in her Kyiv apartment and ordered to hack perhaps the world's biggest repository of corporate filings, according to the outlet. Advertisement Radchenko allegedly hoped to sell unpublished filings for $200,000 apiece. 4 Kuprina was known by her online persona 'Ghost in the Shell.' Instagram/sky31337 But as the doped-up Radchenko barked commands at Kuprina, she plotted her escape — desperate to return to her 7-year-old daughter and expose the cybercrime, according to Bloomberg News. Advertisement When she demanded payment for the hack, Radchenko allegedly broke her nose and refused to allow her to leave, according to Bloomberg News. Kuprina, 34, later fled, contacted US authorities, and turned over hard drives and handwritten notes proving how she had accessed the SEC data. 'There were so many vulnerabilities there you cannot f–king imagine,' she told investigators. Edgar, she said, was an outdated, patched-together system that hadn't been properly secured in years. Kuprina, who had also hacked Citigroup, Nasdaq, Dow Jones and NASA, signed a plea deal with the feds and fled to the US in 2018, leaving her mother and daughter behind. Advertisement 4 Olga Kuprina is a Ukrainian hacker who turned whistleblower. Instagram/sky31337 In 2019, the SEC wrongfully scapegoated American day traders who were accused of pocketing $4.1 million from insider trades linked to the massive cyberattack that breached the Edgar filing system. It turns out those Americans may have simply been guilty of making smart, lucky bets. 'Today's action shows the SEC's commitment and ability to unravel these schemes and identify the perpetrators even when they operate from outside our borders,' the agency's head of enforcement said in a press release. Advertisement Sungjin Cho, a Los Angeles-based day trader, was startled to find federal agents banging on his door before dawn. They confiscated his devices, grilled him about foreign hackers, and accused him of profiting off stolen data. 'I don't know what we were expecting to find, but he didn't seem like a high-rolling criminal at all,' one FBI agent told Bloomberg News. Kuprina's cooperation with US authorities would reveal a months-long breach of the SEC's core system — and upend the agency's narrative. What the SEC didn't say in its official version of events was that the breach of Edgar had lasted far longer than publicly acknowledged — and had been exposed not by agency sleuthing but by Kuprina. Despite her central role in exposing the breach — and continuing to download documents as late as March 2017 — Kuprina wasn't mentioned in the SEC's complaint. 4 In 2019, the SEC brought charges against US traders over a hack that was perpetrated by Ukrainian cybercriminals, according to a report. Christopher Sadowski Instead, the commission zeroed in on Cho and his associates: David Kwon, a friend who traded through Cho's accounts, and Ivan Olefir, a Ukrainian client connected to Cho's trading firm. While the three made trades that aligned with earnings announcements, investigators found no direct evidence they had been in contact with the hackers, nor that they ever knowingly received stolen documents. Advertisement Still, the SEC charged them, citing high win rates on earnings trades and circumstantial connections. The Department of Justice, which was conducting a parallel criminal probe, ultimately declined to prosecute the traders — a move that signaled doubts about the strength of the case, Bloomberg News reported. Cho maintained that he and his colleagues were simply tracking unusual trading activity — looking for signs that others had inside information, then piggybacking on their bets. 'Any earnings or any market-moving announcement…there will always be some leak,' Cho told investigators. Advertisement 4 Gorodenkoff – 'And if you could detect that movement, that's the strategy.' Critics say the SEC needed a win — and chose easy targets. The agency faced pressure to respond after being hacked itself, and rather than focus on the Ukrainian masterminds still at large, it trained its firepower on traders who were within reach. In the end, Cho settled for $175,000 — a fraction of what the SEC claimed he made. He did not admit wrongdoing, but under SEC rules, he is not allowed to publicly say he's innocent either. Advertisement 'I'm not allowed to say I'm innocent, but I'll give you all the facts and people can decide for themselves,' he later said. In 2020, Kuprina pleaded guilty to federal charges related to Edgar and five other hacks, according to Bloomberg. She served a short jail stint before being released as she cooperated with investigators. A judge sentenced her to time served in 2023 in recognition of her cooperation, according to Bloomberg. Advertisement The skilled hacker now works for cybersecurity company Recorded Future Inc. — and was reunited with her mother and daughter, who were flown out of war-torn Ukraine by the US government. Meanwhile, hackers like Radchenko are still at large. And the SEC's Edgar system, though updated in parts, remains vulnerable according to cybersecurity experts. The Post has sought comment from the SEC, Kuprina, Cho and Kwon.
New York Post
18 hours ago
- New York Post
Port of Los Angeles sees sharp drop in cargo ships, West Coast dockworkers sit idle
Shipping activity at major West Coast ports has plummeted, with the Port of Los Angeles averaging just five ships a day — down from a typical dozen — and job orders for dockworkers falling by nearly 50%, according to port officials. On a typical June day, the Port of Los Angeles would be buzzing with activity — about a dozen ships arriving from Asia, containers being unloaded, and cargo moving quickly across the country. But lately, things have been eerily quiet. Advertisement 4 Shipping activity at major West Coast ports has plummeted, with the Port of Los Angeles averaging just five ships a day — down from a typical dozen. Getty Images 'We've averaged about five ships a day,' Gene Seroka, executive director of the Port of Los Angeles, told Bloomberg News. 'Job orders for our dock workers are down nearly 50%.' That drop isn't just a temporary blip. It's part of a larger slowdown linked to President Donald Trump's trade war with China — a policy shift that's been quietly wreaking havoc on West Coast port cities like Los Angeles, Long Beach, Oakland, Seattle and Tacoma. Advertisement While most of the attention around tariffs has focused on rising prices and stock market swings, the economic damage to these cities has gone under the radar. These ports depend heavily on trade with Asia, especially China. And now, because of increased tariffs and uncertainty in US-China relations, the flow of goods has slowed dramatically — with real consequences for jobs, businesses and local economies. Advertisement Even a recent truce between the two countries has done little to reverse the trend. Data released Monday by the Chinese government showed that exports to the US tumbled 35% in May compared to the year before — the steepest drop since COVID lockdowns froze trade in early 2020. 4 A container ship is docked at the Port of Los Angeles. Job orders for dockworkers fell by nearly 50%, according to port officials. Getty Images That followed a 21% drop in April. While China's shipments to places like Southeast Asia and Europe are on the rise, they haven't been enough to balance out the loss in US-bound cargo. All told, China's overall exports rose just 4.8% last month, well below forecasts. The effects of the slowdown in Chinese exports are being felt across the Pacific. Advertisement Long Beach — along with Los Angeles — operates the biggest port complex in the US. Roughly 60% of its trade is with China. In 2022 alone, the ports pumped about $300 billion into the Los Angeles County economy and brought in $93 billion in tax revenue. One in five jobs in the region — from truck drivers to warehouse workers — is tied to the ports. More than 70% of dockworkers live within 10 miles. But with fewer ships arriving, the impact is spreading. The Port of Oakland saw cargo volumes fall 15% in April. Los Angeles has already had 17 ship cancellations in May, and another 10 were scrapped in June. New government data also shows a sharp nationwide drop in imports. Mayor Rex Richardson of Long Beach told Bloomberg News that his city, home to about 450,000 people, is especially vulnerable. 4 President Trump initiated a trade war with China and other nations after introducing tariffs. REUTERS Advertisement He fears that trade-related companies near the port won't hire as they normally do this summer. 'We need certainty,' Richardson said. 'We need long-range trade policy. We don't think that is a controversial idea.' But certainty is in short supply. Trump recently accused China of violating trade agreements and slapped even higher tariffs on steel and aluminum — now up to 50%. Advertisement Meanwhile, West Coast leaders like Seroka say their attempts to engage with the federal government have gone nowhere. Despite serving on an advisory panel for the US Trade Representative's Office, Seroka says his calls to the Trump administration have been ignored. Instead, he's been holding regular press conferences to sound the alarm. On Wednesday, he stood alongside Los Angeles City Council member Tim McOsker, who represents the port district. McOsker didn't hold back, saying: 'This is a mistake for absolutely no reason. There's no one who can describe why we're going through this.' 4 Trump is seen left with Chinese President Xi Jinping in 2019. Chinese exports have plummeted. REUTERS Advertisement Los Angeles Mayor Karen Bass was also critical of the tariffs, saying: 'It's a tax on individuals and their families.' Seroka warned that the pain won't stay confined to California. Since ports are on the front line of the economy, they feel shocks early — before the ripple effects hit stores, factories and households across the country. Advertisement 'As the Ports of Los Angeles and Long Beach go,' Seroka said, 'so goes the US economy.' The Post has sought comment from the White House.
