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The United Kingdom and the European Union cut a breakthrough deal on Monday pertaining to fisheries, trade and security. The deal was finalised hours before a high-level UK-EU summit in London, which seeks to reset Britain’s post-Brexit relationship with Europe. What is the UK-EU summit about? On Monday, British Prime Minister Keir Starmer hosted the first UK-EU summit in London since Brexit. Senior EU officials, including European Commission President Ursula von der Leyen, attended the summit. Brexit is short for “British exit”, and it refers to the UK withdrawing from the then 28-nation trade bloc. In June 2016, a referendum…

The Commercial Vehicle Safety Alliance is preparing to formally ask federal regulators to limit truck drivers’ personal conveyance use to two hours per day. What’s RelatedPersonal conveyance allows drivers to operate their commercial vehicles off-duty for personal reasons, like traveling to a hotel or getting food. However, inspectors say that during more than 41,000 roadside checks, nearly 40% of drivers were misusing this time, potentially using it to extend their driving hours in violation of hours-of-service rules. CVSA says the misuse has created safety risks and enforcement challenges, and that clearer limits are needed. Along with the two-hour cap, the…

Ray Dalio, founder of Bridgewater Associates LP, speaks during the Greenwich Economic Forum in Greenwich, Connecticut, US, on Tuesday, Oct. 3, 2023.Bloomberg | Bloomberg | Getty ImagesBridgewater Associates founder and billionaire Ray Dalio warned Monday that Moody’s downgrade of the U.S. sovereign credit rating understates the threat to U.S. Treasurys, saying the credit agency isn’t taking into account the risk of the federal government simply printing money to pay its debt.”You should know that credit ratings understate credit risks because they only rate the risk of the government not paying its debt,” Dalio said in a post on social media…

The Galveston LNG Bunker Port (GLBP) on the Texas City Ship Channel has received all necessary permits to operate a small-scale facility on the U.S. Gulf Coast for fueling ships with liquefied natural gas (LNG), company executives have told Reuters.Galveston LNG Bunker Port (GLBP) is a joint venture by Pilot LNG and Seapath Group, a subsidiary of the Libra Group, to develop, own, and operate the first dedicated small-scale LNG facility on the U.S. Gulf Coast to serve the growing clean-energy marine fuels market.Located on the Texas City Ship Channel in the Texas City industrial area, GLBP plans to supply…

South Bow Corp. has reported rising figures for the first quarter of 2025, including a record throughput. The company said in its quarterly report that its net income was $88 million, up from $55 million for the previous quarter, but well below the $112 million reported for the corresponding quarter a year prior. The company recorded normalized earnings before interest, taxes, depreciation and amortization (EBITDA) of $266 million. A decline in demand for uncommitted capacity on South Bow’s pipeline systems led to an 8 percent reduction in normalized EBITDA compared to the fourth quarter of 2024. South Bow said its…

North America added five rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was released on May 16. Although the U.S. dropped a total of two rigs week on week, Canada added a total of seven rigs during the same period, taking the total North America rig count up to 697, comprising 576 rigs from the U.S. and 121 from Canada, the count outlined. Of the total U.S. rig count of 576, 563 rigs are categorized as land rigs, 11 are categorized as offshore rigs, and two are categorized as inland water rigs. The…

An artist whose work was part of the first wave of abstract art to hit the UK and presaged the climate breakdown protests as well as debates over the legacies of British colonialism is undergoing an “overdue” reappraisal, according to experts and critics.Aubrey Williams, the Guyanese artist who moved to Britain in the 1950s, was a respected figure in his lifetime and the subject of several exhibitions in the UK. But after his death from cancer in 1990, the artist’s influence and the legacy of his abstract painting has slowly faded from view in Britain.Aubrey Williams in 1981. Photograph: ©…

ADNOC has signed a strategic partnership agreement with Tubacex, a global leader in advanced tubular solutions, to localize critical oilfield technology, enhancing the resilience of the UAE’s industrial base. The announcement was made at the ‘Make it in the Emirates’ forum in Abu Dhabi.  The agreement grants ADNOC perpetual and exclusive rights to utilize Tubacex’s Sentinel Prime premium tubular joint connection technology, which is critical for completing oil and gas wells while reducing costs and ensuring supply chain resilience. Tubacex will establish a dedicated research and development (R&D) center in Abu Dhabi. This facility will act as a…

The European Commission and the government of the UK announced today an agreement to work towards linking their carbon markets through establishing a link between their emissions trading systems (ETS), which have been developing separately since Brexit. Under the envisioned linkage agreement, carbon allowances issued by the EU or UK could be recognized as complying with the greenhouse gas emissions trading system of the other jurisdiction. The announcement forms part of a new series of agreement reached at the first ever EU-UK summit on Monday, covering areas ranging from security and defense and migration to energy and climate change policies.…

Venture Global Inc. exported 233.6 trillion British thermal units (TBtu) of liquefied natural gas (LNG) in the first quarter (Q1), increasing 62 percent from the same three-month period last year and setting a new quarterly record for the company. Meanwhile LNG volumes sold totaled 228.3 TBtu, also up 62 percent from Q1 2024. Revenue grew 105 percent year-on-year to $2.89 billion. However, net profit fell 39 percent year-over-year to $396 million. “This decrease was largely driven by non-cash factors such as unfavorable changes in the fair value of our interest rate swaps”, the Arlington, Virginia-based LNG developer said in an…