Latest news with #Israeli-owned
Memri
2 days ago
- Politics
- Memri
British Rapper Lowkey: MEMRI's Balochistan Project Is an Israeli Intelligence Op; Israel 'Siphons' Military Intelligence Alumni into Private Companies and State Functions Worldwide, Including London W
In a June 19, 2025 episode of the YouTube podcast Palestine Deep Dive, British hip-hop artist Lowkey claimed that Israeli Prime Minister Netanyahu has implemented a policy of systematically 'siphoning' alumni of military intelligence Unit 8200 into private companies, and they are 'now inserted into all manner of state function around the world.' He asserted that MEMRI (Middle East Media Research Institute), which he described as a 'key Israeli intelligence op,' launched a project supporting Balochistan's independence on the same day Pakistan made a 'pronouncement.' Lowkey was likely referring to a June 15, 2025 statement by former IRGC commander Mohsen Rezaee, in which Rezaee claimed that Pakistan had said it would launch a nuclear strike against Israel if Israel used a nuclear weapon on Iran. Lowkey also claimed that London's water system is managed by an Israeli-owned company staffed entirely by former Talpiot Unit members, who provide water flow data to Thames Water before the utility itself receives it. He questioned what impact such foreign military-trained personnel have on a nation's sovereignty. Finally, he claimed that Israelis are deeply involved in the Uighur issue in China, using it as leverage and a network of pressure points across various states.
The Herald Scotland
3 days ago
- Business
- The Herald Scotland
Crude price volatile as Middle East developments rock market
The fall reflects relief that Iran appears to have decided against making an attempt to cut off exports of crude from Gulf states in response to the actions of the US and Israel. Traders feared that Iran would try to block the Strait of Hormuz through which around 20% of global production is shipped, including output from Iran. Ashley Kelty, oil and gas analyst at Panmure Liberum investment bank, noted the market took Iran's decision to fire rockets at a US base in Qatar instead as a face-saving move that was intended to de-escalate the situation. 'There was around a $10 per barrel Middle East risk premium over the last week that has been slashed,' said Mr Kelty. He noted that China may have pressed Iran to show restraint. China has provided a key market for sales of Iranian crude, which are subject to extensive sanctions. READ MORE: Israeli-owned firm takes control of UK's biggest gas field However, Mr Kelty noted traders' fears that the ceasefire could fall apart. Israel and Iran accused each other yesterday of breaching it. 'The chances of a long-term deal still look pretty remote,' said Mr Kelty. 'The market is waiting to see if the ceasefire holds and what terms each side will agree to.' Mr Kelty cautioned: 'The chances of the Strait of Hormuz being blocked are greatly reduced but they have not gone away.' He noted that the impact of renewed hostilities could be offset by the fact that leading producers such as Saudi Arabia have agreed to ease curbs on production that were imposed to support prices. 'On fundamentals we are still looking at oversupply this year,' said Mr Kelty. Against that backdrop, a key factor will be the scale of production increases that members of the Opec + group maintain. READ MORE: SNP Government oil hypocrisy shocking amid Scottish jobs cull A fall in oil prices could boost the global economy and fuel demand. But Saudi Arabia requires a $90/bbl price to balance its budget. If oil prices drop below $50/bbl US producers would cut production. Mr Kelty thinks supply and demand will come back into balance next year. Brent is likely to sell for between $60/bbl and $70/bbl this year. Alan Gelder, SVP refining, chemicals and oil markets at the Wood Mackenzie energy consultancy said the Brent crude price could increase by $5/bbl to $10/bbl if hostilities between Israel and Iran resumed. Closure of the Strait of Hormuz would result in a more significant increase in prices but the effect would likely prove short-lived. The US and its allies would probably intervene to clear the Strait. Mr Gelder noted the possibility that demand for crude could fall after US president Donald Trump decides whether to impose the tariffs he put on hold for 90 days after the publication of his plans for them in April. The pause is due to end on July 8. Mr Trump's proposals sparked concern around the world. READ MORE: North Sea drilling curb plans look mad amid Trump trade threats Mukhesh Sahdev, global head of commodity markets oil at the Rystad Energy consultancy noted the possibility that oil prices could range from the low $60s per barrel towards the mid $70s. 'A correction in supply is likely to be the main theme until demand recovery takes a turn for the better,' he said. However, Mr Sahdev cautioned: 'Ceasefire agreements need to be robust and provide a clear signal to market participants for trading to return to previous levels. 'For now, signals remain uncertain, and geopolitical risks persist, keeping volatility high, even as some progress towards peace is made.' Brent crude sold for around $65/bbl early this month before Israel launched attacks on Iran on June 13. On the outlook for stock markets, Chris Beauchamp, Chief Market Analyst at the IG trading platform, said: 'The pause in the fighting [between Israel and Iran] removes a key worry for investors and puts a sustained rally in equities back on the table. 'There are still hurdles to navigate, most notably the 8 July deadline for trade deals, but for the moment the market thinks that there will be some kind of fresh extension.'
The Herald Scotland
3 days ago
- Automotive
- The Herald Scotland
Crude prices tumble amid ceasefire between Iran and Israel
READ MORE: Oil price tumbles as ceasefire between Israel and Iran holds The outlook remains uncertain and oil prices could rise again if hostilities between the two countries resume. However, the dynamics of the oil market mean it would require a significant rise in the price of crude before motorists notice a big increase in the cost of filling a fuel tank. The impact may not be felt for some time. On its website the RAC notes: 'Fuel retailers base pump prices on the wholesale cost of petrol and diesel, but there is typically a two-week 'lag' between pump prices moving to reflect any change in the wholesale price as this is the time it takes for fuel to work its way through the supply chain to the forecourt.' The motoring organisation adds: 'The total retail price paid at the pump also includes a significant amount of tax – 57.95p per litre in fuel duty and 20% VAT.' The RAC's latest estimate of the average price of a litre of unleaded petrol is 133.59p. The price of diesel is estimated to average 140.15 per litre. READ MORE: Israeli-owned firm takes control of UK's biggest gas field The price at the pump will also be influenced by factors such as transportation costs and the profit margins that firms in the supply and distribution chain aim to achieve. These include the refineries that process crude into petrol and the retailers that sell it to motorists. The RAC notes: 'Local prices are very often driven by the presence of supermarkets keen to compete on price or an independent forecourt retailer that is determined to offer the cheapest fuel.'
The Herald Scotland
17-06-2025
- Business
- The Herald Scotland
North Sea output to hit 50-year low amid slump in investment
'The latest medium-term forecast sees a comfortably supplied oil market through 2030,' said the watchdog in its closely-watched annual review of market trends. The report notes that strong production growth is expected in a range of countries including the USA, Canada and Brazil but reckons the UK will be an exception - unless more firms commit to field developments. The IEA warned that UK North Sea production could hit a 50-year low by 2030 'without a robust queue of new projects to be sanctioned'. The comments could lead to the Labour Government facing increased pressure to cut the windfall tax on North Sea profits, which industry leaders say has led firms to slash investment in the area. READ MORE: SNP Government renewables fixation absurd as windfarm swich off bill soars However, the IEA said there remains significant uncertainty about the short-term outlook for oil and gas prices, as it highlighted factors that could result in prices rising or falling. 'With conflicts in the Middle East region at risk of intensifying and trade negotiations ongoing, uncertainties surrounding our forecasts are substantial,' said the agency. The Wood Mackenzie energy consultancy said the fighting between Iraq and Israel had potentially wide-ranging implications for global oil and gas markets. 'The key risk of greater impacts, for both oil and gas, would emerge if Iran decided to attack shipping in the Gulf or the Strait of Hormuz,' noted the Edinburgh-based specialist. 'The impact of that on oil prices would be significant. Brent crude could move towards US$90 to US$100/bbl.' READ MORE: Israeli-owned firm takes control of UK's biggest gas field Brent crude sold for $75.04/bbl in afternoon trading, up $1.81/bbl on the day. The price surged in the wake of Israel launching attacks on Iran, from around $65 per barrel in early June to $78/bbl on Monday. Brent has given up some gains since then as traders concluded that Iran was unlikely to risk an attack on the Strait of Hormuz which separates Iran from Oman and through which millions of barrels of crude oil are shipped daily. The crude comes from a range of countries including Saudi Arabia and Qatar as well as Iran, which may have decided that an attack on the strait could risk military intervention by the USA. Reuters reported that two tankers collided near the strait today but there were no injuries to crew or spillage. While an attack on the Strait of Hormuz or facilities in the region could trigger a significant rise in prices the impact may be short-lived. The price rise could lead to a reduction in demand which would weigh on the market. The IEA cautioned: 'Heightened geopolitical risks, unresolved trade tensions, and policy shifts have added myriad uncertainties to the oil market outlook.' READ MORE: North Sea oil giant plans $500m investor payouts as it cuts jobs However, the agency's prediction that supplies of oil and gas will exceed demand in coming years reflects trends that it seems to think are firmly established. Demand is expected to come under pressure with experts forecasting that global economic growth will slow in response to factors such as the tariff wars started by US president Donald Trump. The IEA said: 'China – which has driven the growth in global oil demand for well over a decade – is set to see its consumption peak in 2027, following a surge in electric vehicle sales and the continued deployment of high-speed rail and trucks running on natural gas.' At the same time, the IEA noted, the decision by the OPEC+ producer group to start unwinding oil production curbs in May would reset oil supply trajectories over its 2024-30 forecast period. The group is led by Saudi Arabia and includes Russia. The IEA noted that the anticipated output increase from OPEC+ and the impact of higher tariffs on trade pushed oil prices to four-year lows in April and early May. It said oil executives have been recalibrating their investment plans in response to the price fall. The agency reckons the North Sea is facing a watershed as firms grapple with political and regulatory pressures. The Labour Government increased the rate of the windfall tax in the Budget. It is conducting a review of the regulatory regime concerning field developments and has said it will not issue exploration licences covering new areas. READ MORE: North Sea drilling curb plan looks mad amid Trump trade threats The IEA said firms operating in the UK North Sea appeared to be focused on maximising the returns generated on existing assets rather than investing in new ones. By contrast Norway has seen more project approvals and field developments in recent years. Production may hold steady in the UK North Sea in 2025, following years of decline. This reflects the impact of a small number of big developments sanctioned in recent years, including BP and Shell's Clair Ridge project West of Shetland. The IEA warned that these would only be sufficient to slow the decline in production temporarily following years of weak investment. The IEA has predicted that global oil demand will increase by 2.5 million barrels per day (mb/d) between 2024 and 2030, reaching a plateau of around 105.5 mb/d by the end of the decade. Global oil production capacity is forecast to rise by more than 5 mb/d to 114.7 mb/d by 2030.
The Herald Scotland
17-06-2025
- Business
- The Herald Scotland
Energy bills swollen by Scottish windfarm switch off costs
However, critics focused on the revelation that the Westminster administration planned to use £2.5bn allocated to the fledgling Great British Energy operation to fund work on a new generation of small modular nuclear reactors. SNP supporters slammed the move which they claimed would leave a big hole in the £8.3bn budget that GB Energy had promised would be used to support the development of technologies such as floating offshore wind and tidal energy. Keir Starmer decided to put the official headquarters of GB Energy in Aberdeen to mollify critics of his cabinet's decision to curb oil and gas activity. But the SNP Government has opposed North Sea field developments that could create thousands of jobs. It has pinned its hopes on the expansion of wind power, which acting climate change minister Alasdair Allan claimed recently could create thousands of high-quality jobs in support of a just transition from dependence on oil and gas. The number of renewables jobs created in Scotland, however, has fallen below expectations for years. READ MORE: Just transition furore reignited as SNP Government flounders Mr Allan put the onus on the UK Government to help accelerate windfarm development in Scotland by improving the support provided for developers under the flagship Contracts for Difference programme. Energy secretary Ed Miliband has held out the prospect that the budget for the forthcoming CfD allocation round will be much bigger than the £1.6bn set for the last one. The costs will be added to the bills of householders regardless of their income. But figures from the body that regulates the national energy system show bill payers have reason to be concerned about the wisdom of accelerating a programme that imposes costs on them that many can't afford. The National Energy System Operator revealed that the size of the bill it has to pay to deal with supply issues stemming from the fact that output from renewables such as windfarms is intermittent soared to £2.7bn in the latest year from £2.5bn in the preceding period. The balancing payments include amounts that NESO pays to compensate windfarm operators that are asked to constrain generation when there is insufficient demand. They also include payments made to operators of gas fired power stations to increase output when there is not enough wind power to meet energy requirements. READ MORE: Israeli-owned firm takes control of UK's biggest gas field NESO said the increase was driven by a rise in constraint costs and made clear that this was largely due to the fact that so much windfarm capacity has been added in Scotland although demand is much higher south of the border. 'Whilst payments to generators are distributed throughout the country the cause of cost is concentrated in Scotland,' it said. The organisation underlined the absurdity of the situation we find ourselves in after rushing to develop windfarms without ensuring the required infrastructure was in place to transport the power produced to where it is needed or to store it. The Seagreen windfarm off the Angus coast became fully operational in 2023 (Image: SSE) Noting that wind curtailment is currently a major driver of balancing costs, NESO said: 'This is because a large proportion of wind capacity in GB is connected in Scotland, which at present is a constrained region of the network. 'This means that when wind generation is high we must take actions to turn down wind output and turn on replacement energy in unconstrained regions to keep the system balanced.' The NESO report emphasises that the costs resulting from this situation fall on householders. In 2024/25 balancing charges added around £3 a month to a typical domestic electricity bill. That may not sound much but household bills are also inflated by other charges such as those related to CfDs and the Climate Change Levy. NESO's analysis indicates that developing more windfarms will make things worse for the time being. It warned: 'Balancing costs are expected to rise in the short term, reaching a peak of ~£8bn in 2030.' Part of the solution will involve a massive expansion of electricity transportation networks in the face of potential opposition from locals in areas affected and of storage facilities. However, energy giants such as SSE and Drax have made clear they will only make the hefty investment required to develop hydro storage facilities if the UK Government provides enough support for revenues to ensure they can generate strong returns. READ MORE: Scottish hydropower hopes fade amid threats to bumper projects This all means that power generation assets that can ensure the country can keep the lights on irrespective of weather conditions will be required for years. The case for SSE to be allowed to develop a new gas fired power station at Peterhead has been strengthened after the UK Government agreed to provide £200m initial development funding for the Acorn carbon capture scheme. This will take emissions from the plant for storage in depleted reservoirs in the North Sea. Friends of the Earth Scotland insists the Peterhead plant would be a climate disaster and has berated the Scottish Government for failing to properly interrogate SSE's assurances about related emissions. The organisation is bitterly opposed to plans for the Scottish carbon capture cluster which it reckons could be used to excuse continued production of oil and gas. The SNP Government, however, has spent years pressing UK ministers to fund the Scottish cluster, which could cost around £12bn to develop in full. Scottish Gas owner Centrica recently underlined the scale of expected demand for gas by agreeing a £20 billion deal to secure supplies from Norway until 2035. That deal may have been timely as oil and gas prices have soared in the wake of Israel launching attacks on Iran last week. READ MORE: SNP Government oil hypocrisy shocking amid Scottish jobs cull Against that backdrop it makes sense for the UK to maximise production of its own oil and gas. The case for investing in nuclear plants that can provide baseload power is also reinforced by concerns about the UK's dependence on imports of oil and gas. Nuclear plants take years to develop but could remain operational for decades. Add in the fact that work on a plant could create thousands of construction jobs and many more in the supply chain and it is little wonder the SNP Government is under pressure from trades unions to abandon its opposition to the development of nuclear power stations in Scotland.
