Tropical storm warning for South Texas coast: Update
Updates with closure of Galveston, Texas City ports.
A tropical storm warning has been issued for parts of south Texas and northeastern Mexico, bringing with it the risk of heavy rainfall and flooding.
The warning is in effect for the Texas coast from Port O'Connor south to the mouth of the Rio Grande, as well as the northeastern coast of Mexico, according to the National Hurricane Center.
"The disturbance is very large with rainfall, coastal flooding, and wind impacts likely to occur far from the center along the coasts of Texas and northeastern Mexico," the center said overnight.
Maximum sustained winds this morning remained near 40 mph and the disturbance is forecast to become a tropical storm by Wednesday. The system has been classified as a potential tropical cyclone by the center since it has not yet become better organized, but is expected to become the first named storm system of the year by early Wednesday.
The port of Corpus Christi in South Texas and the Houston Ship Channel remained open as of Tuesday morning, but the nearby ports of Galveston and Texas City closed to inbound and outbound shipping traffic at 10pm ET Monday due to heavy weather, the US Coast Guard said.
The system was expected to disrupt ship-to-ship transfer operations off the Texas coast as of Monday evening because of heavy seas. In the Gulf of Mexico, the transfer typically is from an Aframax or Suezmax onto a very large crude carrier (VLCC) at designated lightering zones near Corpus Christi, Galveston and Beaumont-Port Arthur.
Prolonged lightering delays can prevent crude tanker tonnage from becoming available and exert upward pressure on freight rates, while also adding to demurrage fees.
The storm is expected to turn towards the west-northwest and west tonight and Wednesday, with the system forecast to approach the western Gulf coast late Wednesday, the NHC said.
Rainfall totals of 5 to 10 inches are seen across northeast Mexico into South Texas, with maximum totals of 15 inches possible. Flash and urban flooding are likely to follow with river flooding.
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Libya’s oil minister asks PM to clarify who's in charge
Libya’s oil minister asks PM to clarify who's in charge
London, 28 June (Argus) — Libya's sidelined oil minister Mohamed Oun has called on Tripoli-based prime minister Abdelhamid Dbeibeh to clarify who is in charge of the ministry. The question of who runs the oil ministry has been unclear since Oun returned to work on 28 May after a temporary suspension was lifted by a state watchdog. During his absence, Oun was replaced by oil ministry undersecretary Khalifa Rajab Abdulsadek, who represented Libya at the latest Opec+ meeting on 2 June. Dbeibeh has continued to recognise Abdulsadek as oil minister since Oun's return to work. In a lengthy statement defending his record, Oun complained that Dbeibeh has cut off all communication with him and that it is impossible to carry out his duties under such conditions. "The presence of a legitimate minister and an illegal minister" is creating confusion in the sector, Oun added. Dbiebeh was seen as a key player behind the initial removal of Oun. Argus understands that Oun's suspension was part of an attempt to clear the way for state-owned NOC to move ahead with key oil and gas projects the he opposed. But the move received pushback from powerful figures including the head of Libya's presidential council and the country's central bank governor, leading to Oun's suspension being lifted. "I don't expect this issue to be resolved any time soon. Dbiebeh is unlikely to want to get into a fight given his weakening position over the past few weeks," Jalel Harchaoui, a Libya specialist at the UK's Royal United Services Institute, told Argus . Although the position of oil minister in Libya has been largely relegated to a nominal role — and much less powerful than the chairman of NOC — Oun has successfully used his role to galvanise public opinion against deals and policies promoted by the government and NOC. Libya remains politically fragmented, with rival governments based in the east and west of the country, and control of Libya's oil sector is coveted by a wide array of factions tussling for power. The north African country produces just above 1.2mn b/d of crude and wants to boost this to around 2mn b/d, but this will only be possible if it can advance long-stalled projects. By Aydin Calik Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Biden, Trump trade attacks in presidential debate
Biden, Trump trade attacks in presidential debate
Washington, 28 June (Argus) — The first presidential debate of the 2024 election drew out few new details on energy policy, as President Joe Biden and former president Donald Trump hammered each other on issues such as inflation and the state of the US economy. The debate, held in Georgia on Thursday without a live audience, marked the first time Biden and Trump have shared a stage since their last debate in 2020. Biden, who is trailing Trump in many polls, at times struggled to clearly articulate his policy positions — or even to be heard — while Trump repeatedly sought to blame Biden for issues such as high inflation and the outbreak of military conflicts in Ukraine and Israel. "He has not done a good job," Trump said. "And inflation is killing our country. It is absolutely killing us." The substance of the debate was largely overshadowed by the candidates' inability to dispel voters' concerns about them. Needing to put to rest worries about his age, the 81-year-old Biden often appeared feeble and confused. Trump refused to acknowledge he lost the last election and continued to defend the mob that attacked the US Capitol on 6 January 2021. Biden throughout the debate defended his record on the economy, while focusing many of his attacks on Trump's personal conduct, including Trump's conviction on 34 counts in a case involving alleged hush money payments to an adult film star. Biden also criticized Trump's handling of the Covid-19 pandemic, which Biden said ultimately contributed to high inflation. "He didn't do much at all," Biden said. "By the time he left, things were in chaos." The debate repeatedly focused on federal tax policy, particularly a range of tax cuts enacted during Trump's presidency that are set to expire in 2025. A key provision of that tax package cut the top corporate tax rate to 21pc from 35pc. Biden said he would make the tax system more fair by increasing taxes on the wealthy, while arguing that Trump's policies would result in higher inflation and additional costs for consumers. Trump has said he would extend the expiring tax cuts, which are expected to cost $4 trillion over a decade, in addition to seeking deeper tax cuts and a 10pc tariff on all imports. Trump said he rejected the findings of many independent economists that such a tariff would drive up prices for consumers and add to inflation. "It's just going to cause countries that have been ripping us off for years — like China and many others, in all fairness to China — it's going to just force them to pay us a lot of money." Biden argued Trump's policies would result in higher inflation and additional costs for consumers. "He now wants to tax you more by putting a 10pc tariff on everything that comes into the United States of America," Biden said. Trump pivoted to issues such as energy and regulations when he was asked about his actions during the attack on the Capitol. "On January 6, we were energy independent," Trump said. And when pressed on whether he would pursue policies to deal with climate change, Trump focused on having "clean air" and "clean water", while defending his decision to pull the US out of the Paris climate accord. "It was a rip off of the United States, and I ended it because I didn't want to waste that money," Trump said. Biden said Trump did not do a "damn thing" when in office to clean up the air and water and criticized his inaction on climate change. Biden defended his suite of climate rules and support for clean energy, but he failed to tout passage of the Inflation Reduction Act, which provided support for electric vehicles, renewable energy and advanced manufacturing. On foreign policy, Trump insisted that a variety of global conflicts would have never occurred if he was in office. He contended that the war in Ukraine would abruptly be resolved if he were re-elected. "I'll have that war settled," Trump said. "I will get it settled, and I'll get it settled fast before I take office." Biden defended his record on foreign policy, saying he ushered through crucial support that has helped in the defense of Ukraine and Israel. Biden said that stood in contrast to Trump, who he said "encouraged" Russian president Vladimir Putin to invade other countries and has threatened to undermine Europe's defenses against military attacks. "This is a guy who wants to pull out of NATO," Biden said. The debate occurred just days before the US Supreme Court is expected to decide whether Trump, or any other president, should be immune from criminal prosecution for actions taken in office. Trump's attorneys have argued he should be immune from prosecution for any official acts while holding office, which could affect a criminal charge that he sought to undermine the 2020 election. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
US House panel advances waterways’ projects bill
US House panel advances waterways’ projects bill
Houston, 27 June (Argus) — A Congressional committee on Wednesday advanced a bill to authorize a bundle of US port and river infrastructure projects for the US Army Corps of Engineers (Corps). The Water Resources Development Act (WRDA) biennially authorizes projects handled by the Corps' civil works program aimed at improving shipping operations at the nation's ports and harbors, and along the inland waterway system. The traditionally bipartisan legislation also approves flood and storm programs, and work on other aspects of water resources infrastructure. The House of Representatives' Transportation and Infrastructure Committee on Wednesday passed the bill by a 61-2 vote. The Senate Committee on Environmental and Public Works passed its own version of the bill on 22 May by a 19-0 vote. Neither the full Senate nor House have yet voted on the bills, which will need a conference committee to sort out different versions. A key difference is that the House bill did not include an adjustment to the cost-sharing structure for lock and dam construction and major rehabilitation projects. The Senate measure adjusted the funding mechanism so that 75pc of costs would be paid for by the US Treasury Department's general fund, with the rest coming from the Inland Waterways Trust Fund. The 2022 version of the bill made permanent an increase to 65pc from the general fund and 35pc from the trust fund, which is funded by a barge diesel fuel tax. The House committee's decision not to include the funding change drew disappointment from shipping interests. The Waterways Council was "disappointed that the House did not include a provision to modernize the inland waterways system", but was hopeful that conference negotiations would result in its inclusion, Tracy Zea, chief executive of the group, said. The latest House version of the bill authorizes 12 projects and 160 new feasibility studies. Among the projects receiving approval were modifications to the Seagirt Loop Channel near the Baltimore Harbor in Maryland. The federal government would pay $47.9mn towards an estimate $63.9mn project to widen the channel, which would help meet future demand for capacity within the Port of Baltimore. That would include increased container volume at the Seagirt Marine Terminal. The project was in the works before the 26 March collapse of the Francis Scott Key Bridge temporarily diverted freight from Seagirt and many other port terminals. The committee also authorized $314.25mn towards a resiliency study of the Gulf Intracoastal Waterway. The study would consider hurricane and storm damage and identify ways to improve navigation, reduce the maintenance requirements, and provide resiliency. The waterway connects ports along the Gulf of Mexico from St Marks, Florida, to Brownsville, Texas. The House version of the bill also includes provisions to strengthen flood control, wastewater, and stormwater infrastructure. "Critically, WRDA 2024 will help communities increase resiliency in the face of climate change," representative Rick Larsen (D-WA) said. By Abby Caplan and Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Mexico to tap economist for energy minister
Mexico to tap economist for energy minister
Mexico City, 27 June (Argus) — Mexican president-elect Claudia Sheinbaum appointed economist and lawyer Luz Elena Gonzalez to become energy minister in her government that will take office on 1 October. Gonzalez has a long record in public service and served as finance director of the Mexico City government during Sheinbaum's tenure as the capital's mayor from 2018-2024. She has no direct energy industry experience. Sheinbaum won a convincing victory in the 2 June presidential elections and will take office on 1 October when Morena political party founder and current president Andres Manuel Lopez Obrador ends his six-year term. Gonzalez will face a range of challenges as energy minister including completion of the long-delayed Olmeca refinery, development of a plan to tackle state-owned Pemex's enormous debt, expansion of Mexico's electricity generation and grid capacity with a renewed focus on clean energy and the construction of natural gas storage. She will also be in charge of policy decisions that will define the role of private-sector investors in the energy sector. Gonzalez will replace Miguel Angel Maciel, appointed following energy minister Rocio Nahle's resignation in October 2023 to pursue the Veracruz gubernatorial election. Nahle, who took office as energy minister in 2018, led efforts to build the Olmeca refinery and has been a strident supporter of Lopez Obrador's energy sovereignty policy that has sought to restrict private-sector investment. Sheinbaum also appointed Jesus Esteva as transport minister, Raquel Buenrostro as civil service minister, David Kershenobich as health minister and Edna Elena Vega as urban and rural development minister. All of the candidates appointed today have either worked with Sheinbaum during her period as Mexico City mayor or in Lopez Obrador's government. By Rebecca Conan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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