Fire at southern Russian oil depot extinguished after nearly a week, governor says
MOSCOW (Reuters) - A fire at an oil depot in southern Russia's Krasnodar region after a suspected Ukrainian drone attack has been extinguished nearly a week after it started, region governor Veniamin Kondratiev said on Tuesday.
The Kavkazskaya depot is located only a few kilometres from the Kropotkinskaya pumping station of the Caspian Pipeline Consortium (CPC), which was also hit by a drone last month, sparking fears of a drop in oil supplies in global markets.
The depot is key for Russia's oil exports via the CPC, which mainly transports Kazakhstan's oil exports.
Kondratiev said on the Telegram messaging app that two reservoirs at the facility were completely burnt out. More than 470 firefighters tackled the blaze, he added.
The oil complex includes a railway loading rack and a pipeline to the Kropotkinskaya pumping station.
Suppliers delivered at least 130,000 metric tons of oil per month via Kavkazskaya last year, CPC says, with volumes totalling around 1.51 million tons for the year as a whole.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
37 minutes ago
- Business Insider
South Africa's Ramaphosa makes fresh demands as Trump's tariff deadline approaches
As the July 9 deadline for the implementation of President Trump's tariffs approaches, South Africa's President Cyril Ramaphosa has renewed calls for extended negotiations with the United States. South African President Cyril Ramaphosa advocated for continued negotiations with the United States regarding looming tariffs. The current tariff proposal includes a 31% rate on U.S. imports from South Africa, prompting Pretoria to request a reduction to 10%. The Trump administration asserts that these measures address trade imbalances and protect domestic industries. Pretoria's Department of Trade, Industry and Competition confirmed on Tuesday that South Africa has formally requested more time to finalize a trade agreement before the 31% tariff on U.S. imports from South Africa takes full effect. According to a statement from South Africa's Department of Trade, Industry and Competition, the country is pushing for a worst-case tariff cap of 10% as negotiations with the United States continue. Reuters reports that South African officials recently met with Assistant U.S. Trade Representative for Africa, Connie Hamilton, in Luanda, where they were informed that Washington is developing a standardized template for its trade engagements with African nations. ' In view of this development... African countries, including South Africa, have advocated for the extension of the 90-day deadline to enable countries to prepare their proposed deals in accordance with the new template,' the department said. Trump's trade tariff Recall that U.S. President Donald Trump issued a decree imposing tariffs that range from 10% for countries such as Kenya, Ghana, and Ethiopia, to as high as 30% for South Africa and 50% for Lesotho, as part of his administration's broader recalibration of trade relations with Africa. The tariff, initially announced in April as part of Trump's broader ' reciprocal trade ' policy, was temporarily paused for 90 days to allow room for negotiations. However, with the grace period nearing its end, pressure is mounting on both sides to reach a compromise that preserves South Africa's preferential access to the U.S. market under frameworks like the African Growth and Opportunity Act (AGOA). Ramaphosa's administration argues that the tariffs disproportionately harm South African manufacturers and exporters, many of whom rely on the U.S. as a key market. The South African government has emphasized its long-standing economic and diplomatic ties with Washington, positioning the current dispute as a test of mutual cooperation under changing global trade dynamics. The Trump administration, however, maintains that the tariffs are necessary to correct what it sees as imbalanced trade practices and to protect American industries from unfair competition.
USA Today
an hour ago
- USA Today
Trump imposes tougher US policy toward Cuba, enforces ban on US tourism
WASHINGTON, June 30 (Reuters) - President Donald Trump on Monday signed a memorandum imposing a hard-line U.S. policy toward communist-run Cuba and reversing measures put in place by former President Joe Biden, the White House said. The directive will enforce a statutory ban on U.S. tourism to Cuba while supporting an economic embargo of the country, the White House said in a fact sheet. While Americans cannot visit Cuba for leisure, travel has been allowed for activities including educational or humanitarian trips. As one of his first acts after taking office in January, Trump, a harsh Cuba critic, revoked the Biden administration's last-minute decision to remove the country from the U.S. list of state sponsors of terrorism. He has also partially restricted the entry of people from Cuba. More: Top Cuban official accuses Trump admin of escalating tensions, raises concerns of conflict Under Monday's memorandum, Trump renewed a ban on direct or indirect financial transactions with entities controlled by the Cuban military, such as Grupo de Administracion Empresarial S.A. (GAESA), and its affiliates, with exceptions for transactions that advance U.S. policy goals or support the Cuban people. Biden had revoked a 2017 Trump order that restricted financial transactions with some military and government-linked Cuban entities. The new memorandum "enforces the statutory ban on U.S. tourism to Cuba and ensures compliance through regular audits and mandatory record-keeping of all travel-related transactions for at least five years," the White House fact sheet said. It also supports the economic embargo of Cuba and opposes calls in the United Nations and other international forums for its termination, the fact sheet said. Cuban Foreign Minister Bruno Rodriguez posted on social media platform X that "the Presidential Memorandum against Cuba made public today by the US government reinforces the aggression and economic blockade that punishes the entire Cuban people and is the main obstacle to our development." "It is a criminal act and a violation of the human rights of an entire nation. The main obstacle to our development," he said. (Reporting By Steve Holland; additional reporting by Marc Frank in Havana; Editing by Franklin Paul and Chris Reese)
Yahoo
an hour ago
- Yahoo
Euro zone factory orders stabilise for first time in 3 years, PMI shows
LONDON (Reuters) -Euro zone manufacturing activity showed further signs of recovery in June as new orders stopped falling for the first time in more than three years, suggesting a tentative stabilisation in the bloc's struggling factory sector, a survey showed. The HCOB Manufacturing Purchasing Managers' Index, compiled by S&P Global, edged up to 49.5 in June from 49.4 in May, its highest level since August 2022, but remaining below the 50 mark for the 29th consecutive month. A preliminary estimate came in at 49.4. PMI readings above 50 indicate growth in activity while those below point to a contraction. "There are signs of some stabilisation in the manufacturing sector. Companies have now expanded production slightly for the fourth month in a row, order intake has ceased to fall, and slightly longer delivery times also indicate that demand is picking up a bit," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank. The manufacturing output index, however, declined to 50.8 from 51.5 in May, marking a three-month low but remaining in expansion territory. A sub-index measuring new orders nudged up to 50.0, ending a 37-month period of decline, and export orders stopped falling for the first time since March 2022, a positive sign for future production. Despite the improvement in order books, manufacturers continued to reduce their workforces. The employment index has been sub-50 for two years. The survey revealed stark differences across the euro zone. Ireland recorded the highest PMI at 53.7, a 37-month high, while Greece, Spain, and the Netherlands also posted readings above 50. Meanwhile, Germany's manufacturing PMI reached 49.0, its highest in nearly three years though still indicating contraction. France, Italy and Austria registered faster declines in manufacturing sector conditions, weighing on the bloc's overall performance. "If Germany enters the growth zone, which we believe is likely given the new government's growth package, among other things, these countries could receive a positive boost, as Germany is their most important export destination," de la Rubia added. Business confidence continued to improve, reaching its highest level since February 2022, with German manufacturers particularly optimistic about future production prospects. Purchasing costs decreased for the third consecutive month, contributing to another slight reduction in factory gate prices. The European Central Bank is expected to conclude a year-long interest rate-cutting campaign with one more move in September, according to a slight majority of economists in a Reuters poll published last week who in May were at odds over where rates would end the year.
