Browsing: National
Nigeria’s giant Dangote refinery is benefiting from record margins for producing jet fuel that it is mostly selling abroad, while the domestic airlines it also supplies have threatened to stop flying because of the surge in fuel prices. The refinery, the largest on the continent, was built to turn Africa’s biggest oil producing country into a net exporter of refined products, end Nigeria’s reliance on fuel imports, and shield its economy from global energy shocks. It became fully operational at the start of this year and is producing at its maximum capacity of 650,000 barrels per day. That has improved local fuel availability but domestic fuel prices are still among the highest in Africa as Nigeria’s market is fully deregulated, meaning fuel prices are not subsidised by the government as they are in most African countries. The issue is further complicated by the state oil company’s long-standing debt repayment agreements that mean Dangote has to import most of its crude oil, making it easier to balance its books if it sells abroad.Industry body the Airline Operators of Nigeria said prices, taking logistics and storage costs into account, have climbed to 3,300 naira ($2.44) per litre, nearly triple the level in February before the start of the Iran war. Nigeria’s energy regulator said Dangote was selling jet fuel at 1,879 naira ($1.39) per litre, little changed from imported fuel prices of about 1,900 naira ($1.41) per litre delivered to Lagos earlier this month. The MiddleEastern conflict has led to unprecedented energy disruption and the risk of jet fuel shortages is pressing. Airlines around the world have hiked prices, added fuel surcharges and grounded planes. Nigerian airlines last week threatened to halt all flights, prompting the government on Thursday to approve measures including some relief on debts owed by local airlines and ordering talks to try to agree lower prices. Dangote, meanwhile, as a new, highly efficient refinery, has been able to take advantage of record margins for producing jet fuel from crude.Its profits could be even higher if it could rely on Nigerian crude and avoid almost all freight costs. State oil firm, the Nigerian National Petroleum Company Limited’s joint-venture crude, however, is tied to oil-backed loans and pre-export deals. That means much of Nigeria’s roughly 1.5 mn barrels per day of production goes to paying debts to international oil majors, banks and traders. The NNPC does not disclose its obligations, but analysts estimate they amount to about 400,000 bpd. Dangote Group Vice President Davekumar Edwin said Dangote imported most of its crude from the US, as well as some from other African producers and Brazil. He did not give precise figures. He said the bulk of the 24 mn litres of jet fuel it produces daily was shipped to Europe, although he also said the refinery largely supplied the needs of Nigerian airlines, which the aviation industry estimates at about 2.1 mn litres per day. As European buyers are willing to pay a premium ahead of the peak demand summer travel season, European imports from Nigeria have averaged 78,000 to 96,000 barrels per day in April so far, data from Kpler and LSEG showed, the highest on record.Alan Gelder, senior vice president for refining, chemicals and oil markets at Wood Mackenzie, said European refiners had earned about $15 per barrel. He estimated Dangote’s margins at more than double that as a result of access to Nigerian crude and the plant’s scale and sophistication. Source link
Pakistan Prime Minister Shehbaz Sharif and New Zealand counterpart Christopher Luxon have held a telephone conversation to discuss the evolving situation in the Middle East, according to officials.During the call on Tuesday, Luxon acknowledged Pakistan’s recent diplomatic efforts aimed at facilitating dialogue between the United States and Iran, as well as promoting regional stability.Sharif, for his part, briefed his New NewZealand counterpart on Islamabad’s ongoing diplomatic outreach to support de-escalation and encourage peace in the region.Both leaders emphasized the importance of diplomatic engagement in addressing tensions and maintaining stability across the Middle East. Related Story Source link
US President Donald Trump met with his top security advisers yesterday to discuss an Iranian proposal that would reportedly re-open the Strait of Hormuz as broader negotiations over the war continue, the White House said. When asked about the reported plan — which would see both Iran and the US lift their blockades ahead of further talks on the thorny issue of Tehran’s nuclear programme — spokeswoman Karoline Leavitt told a White House briefing that “the proposal was being discussed.” “Only because it’s been reported, I will confirm the president has met with his national security team this morning,” she said, refusing to say if Trump would accept the proposal.Secretary of State Marco Rubio meanwhile said Iran’s stance on the Strait of Hormuz, a key waterway through which a fifth of global oil and liquid natural gas normally transits, did not meet US demands. “If what they mean by opening the straits is, ‘yes, the straits are open as long as you co-ordinate with Iran, get our permission or we’ll blow you up and you pay us,’ that’s not opening the straits,” Rubio said in a Fox News interview. “They cannot normalise — nor can we tolerate them trying to normalise — a system in which the Iranians decide who gets to use an international waterway, and how much you have to pay them to use it,” he said. US outlet Axios had earlier reported that Trump would meet with his national security team to discuss an offer by Iran on re-opening the strait and postponing nuclear negotiations to a later stage.ABC News, citing two anonymous US officials, meanwhile reported that the deal fell short of Washington’s red lines.Leavitt told reporters that “the president’s red lines with respect to Iran have been made very, very clear, not just to the American public, but also to them as well.” Source link
Amazon announced the successful launch of 29 new satellites as part of its satellite internet provider, Amazon Leo- formerly Project Kuiper- from Cape Canaveral in the US state of Florida, using the ULA Atlas 5 rocket.The company explained that this step aims to enhance its satellite network in low Earth orbit. Through these intensive launches, Amazon seeks to accelerate the schedule for operating its high-speed Internet service and fulfill its legal obligations to operate half of its planned network before mid-2026.The project aims to deploy a constellation of 3,236 satellites to provide broadband Internet coverage globally. Related Story Source link
Britain’s King Charles III arrived in Washington yesterday for a high-stakes state visit aimed at salvaging frayed ties with Donald Trump, amid extra-tight security following an attack on a gala dinner attended by the US president. Tensions over the Iran war have rocked the so-called “special relationship” ahead of a trip that was meant to mark the United States’ 250th anniversary of independence from the British monarch’s ancestors. Charles and Queen Camilla will now be using their four-day visit — their first time on American soil since he became king in 2022 — to mount a diplomatic charm offensive targeting the royalty-obsessed Trump.The royal couple arrived at Joint Base Andrews near Washington on a plane with the Union Jack painted on the tail. Charles and Camilla then descended red-carpeted steps to be greeted by Britain’s ambassador Christian Turner and White House protocol chief Monica Crowley on the tarmac.White House Press Secretary Karoline Leavitt said yestserday the visit would “honour the long-standing and special relationship between the US and the United Kingdom.” Trump and his wife Melania will greet the British royals at the White House later yesterday before hosting them for tea and a tour of a new beehive installed by the First Lady. Source link
Chinese and Cambodian nationals believed to be Huione Pay creditors clash with police and security personnel during a protest near the National Bank of Cambodia (NBC)…
Ukraine’s President Volodymyr Zelensky and President of Moldova Maia Sandu (front left) with other participants pay their respects at a memorial to commemorate the 40th anniversary…
“Michael,” the much-anticipated biopic about late superstar Michael Jackson, debuted atop the North American box office this weekend with a thriller-ing $97mn. The film, directed by Antoine Fuqua and distributed by Lionsgate, chronicles the legendary artist’s rise from a child star to one of the world’s most famous pop icons. In the starring role is Jaafar Jackson, the popstar’s nephew. “This is a record-shattering opening for a musical biography,” said analyst David A. Gross of Franchise Entertainment Research. “Most critics feel the film is superficial and avoids the complicated parts of the performer’s life,” Gross said. With the film already released in Europe, it has globally taken in nearly $220mn, according to Exhibitor Relations. Source link
Until this month, Democrats have displayed military-like discipline in staying on message about the economy. Then came US President Donald Trump’s threats against Iran, his portrayal of himself as a Christ-like figure on social media and his attacks on the pope. Since then, nearly 40% of House Democrats — 84 as of last week — signed on to Representative Jamie Raskin’s bill to bolster the 25th Amendment with the creation of a special commission to assess presidents’ ability to carry out their duties. The 25th Amendment of the US Constitution provides the bare-bones process for taking away a president’s power in a procedure separate from impeachment.“I think the Raskin effort is matching where people (voters) are at,” said Representative Mark Pocan of Wisconsin, in an interview. “They can’t believe what Donald Trump’s saying.” But other Democrats warn that focusing on removing Trump, or impeaching him would, at best, muddy their election-year message of making America more affordable, and at worst turn off voters who watched Democrats impeach Trump twice in his first term only to see him acquitted by a Republican-controlled Senate and elected to a second term in 2024.Moreover, Democrats are on a winning streak with strong performances in special elections since the beginning of last year. A Reuters/Ipsos poll of registered voters this month found 77% believe Trump bears at least a fair amount of responsibility for the rise in gas prices since the US and Israel launched a war on Iran, and polls consistently show voters favor Democrats over Republicans as the party best able to address cost-of-living issues. “I doubt, for instance, that Mary Peltola and Sherrod Brown are going to be talking a lot about impeaching Trump,” said Kyle Kondik, managing editor of “Sabato’s Crystal Ball” at the University of Virginia, referring to two Democrats running in red states Alaska and Ohio, respectively. Alex Conant, a Republican strategist who was an aide to Marco Rubio when the current secretary of state was a senator, said Republicans will love it if Democrats make removing Trump part of their election-year appeal to voters. “They will say that Trump is focused on the economy and Democrats are focused on Donald Trump,” he said.IT’S THE ECONOMY, DEMOCRATS Democratic Representative Rosa DeLauro, a Connecticut liberal, agreed that “there is something unbelievably wrong” with Trump, but she has not joined Raskin’s initiative.“Let’s get to what the needs are of the country. The economy, healthcare, grocery prices, that’s where I concentrate,” said DeLauro, who is seeking a 19th term in Congress. One of the most centrist House Democrats, Representative Henry Cuellar of Texas, told Reuters: “I think we need to focus on what’s important to our districts: the affordability, the ICE raids.” The Trump administration has dispatched thousands of US Immigration and Customs Enforcement agents nationwide in an intensified effort to deport migrants that threatens Republican inroads with Hispanic voters. Cuellar’s district hugs the border with Mexico. “I don’t think we need to vote down impeachment again. It’s already happened. We know what’s going to happen in the Senate,” Cuellar said.Even Senator Elizabeth Warren of Massachusetts, a leading voice for progressives, distanced herself from Raskin’s effort. “It is appropriate to look at the 25th Amendment,” she said in an interview. “But it’s going to take Republicans standing up and doing that. The Democrats cannot do it by themselves.”Under the 25th Amendment, the vice president, working in tandem with the president’s Cabinet heads, would have to initiate a move to temporarily strip him of his powers. PRESSURE TO IMPEACH FROM THE LEFTOther Democrats running for re-election this year, however, might need to embrace the idea of impeaching Trump to appeal to the party’s younger left-flank voters. Representative John Larson of Connecticut, a 77-year-old establishment Democrat, facing a challenge from at least two candidates who are more than three decades younger than him, introduced 13 articles of impeachment against Trump on April 6. They range from usurping Congress’ power to declare war and committing war crimes to violating the Constitution’s “emoluments” clauses prohibiting presidents from using their office to enrich themselves. A Larson spokesperson noted that the congressman has a long record of embracing liberal stances, including his votes against the US war in Iraq.For the time being, Democrats are treading carefully on the subject of taking on Trump, despite the party’s string of successes in special elections since January, 2025. Failing to do so elicits a flurry of accusations from Republicans that Democrats harbour “irrational hatred” of Trump. “Democrats are Once Again Gearing Up For Impeachment, and Other Than Trump Derangement Syndrome, They Can’t Articulate Why,” said a press release issued April 10 by House Speaker Mike Johnson.It is an attack that could resonate in states like Ohio, Alaska and North Carolina, where Democrats are trying to oust incumbent Republican senators by winning over independent voters. WINNING IN RED STATESDemocratic former Senator Brown is in a bid to claw back his Senate seat representing Ohio, which he lost in 2024 after years of backing from blue-collar workers. Amid all the Washington chatter this month about removing Trump, Brown’s campaign has largely ignored it. Instead, he is sticking to affordability and arguing that workers are being cheated by “a rigged system” that he says hits everyone from blue-collar laborers to farmers. Among his proposals are capping rate increases on utility bills — not ousting Trump. Polling puts the economy and consumer prices atop voters’ list of worries, even as Trump works to defend the impact of higher gasoline prices stemming from the US war on Iran as a good investment. Trump campaigned in 2024 promising to bring down prices. Instead, going into the thick of this year’s political campaigns, the U.S. inflation year-over-year rate was 3.3% in March, up from 2.4% in February.Just 25% of respondents in a late March Reuters/Ipsos poll approved of Trump’s handling of the cost of living. Polling like that heartens Democrats’ midterm hopes, especially given that the party out of power historically fares well in these off-presidential-year elections.Whether or not the words “impeachment” or “25th Amendment” should be uttered in this campaign season, Democrats agree that linking the Iran war with affordability is a winning argument.“I had 11 town halls with (constituents’) tremendous frustration around gas prices” during Congress’ spring break, Democratic Senator Ron Wyden of Oregon said in an interview. “What I’m focused on now is showing that we’re involved in concrete results.” Source link
US President Donald Trump said yesterday that Iran could call if it wanted to negotiate an end to the war launched by the US and Israel, as Iran’s foreign minister returned to Pakistan for talks despite the absence of US counterparts. Hopes of reviving peace efforts had earlier receded after Trump scrapped a visit to Islamabad by his envoys Steve Witkoff and Jared Kushner, even as Iranian Foreign Minister Abbas Araghchi continued to shuttle between mediating countries. “If they want to talk, they can come to us, or they can call us. You know, there is a telephone. We have nice, secure lines,” Trump said in an interview on Fox News’ The Sunday Briefing. (Reuters) Source link