Global hydrocarbons companies and traders are bracing for higher volatility in fuel markets as they expect refiners to process more light crude oil in the lead-up to new rules aimed at slashing the use of dirty high-sulfur fuel oil in global shipping.
Eleven Asia-Pacific countries have just signed the trade pact formerly known as the Trans-Pacific Partnership. Although the US pulled out last year, the deal was salvaged by the remaining members, who signed it at a ceremony in the Chilean city of Santiago.
European Commission has written to the UK government saying the UK owes €2.7bn (£2.4bn) in customs duties on shoes and textiles imported from China. The UK is accused of doing too little to prevent fraud after it was warned about the problem by the EU's watchdog Olaf in 2017. It begins a legal process which could end at the European Court of Justice.
Brazil’s Senate on Wednesday approved an Open Skies agreement between Brazil and the United States that clears the way for a partnership between American Airlines Group Inc and LATAM Airlines Group. The treaty will be sent to President Michel Temer, who is expected to sign it into law.
“The UK has sold out Falklands fishing for a Brexit era deal,” fishing company Fortuna Ltd Director James Wallace told Penguin News this week. He was replying to much general speculation as to why a Falkland Islands company with a long history of participation in the South Georgia toothfish fishery was refused licenses this season.
Heavy sea ice conditions have thwarted a science mission from reaching the Larsen C Ice Shelf in Antarctica from which a large iceberg broke off in July 2017. A team of scientists, led by British Antarctic Survey (BAS), are travelling on board the RRS James Clark Ross. Sea ice, up to 4-5 meters thick, has made progress for the ship very slow and on 28 February) the ship’s captain made the difficult decision not to continue.
The Director of Aviation at Aviation Economics Joanna Hunt commenting on the progress of a second commercial air-link to the Falkland Islands has confirmed there has been interest from airlines.
Venezuela's National Assembly, with opposition majority, denounced on Wednesday the “undue” use of electoral material, noting that official papers that belongs to the National Electoral Council (CNE) was found in gambling centers to print bet vouchers and presented its final report about the investigation into the case of the ex-rebel agent, Oscar Pérez.
Reynaldo Bignone, the last military president from Argentina's 1976-1983 dictatorship, died on Wednesday at age 90, the country's state news agency said. Bignone had been serving life sentence under house arrest for multiple human rights crimes.
Donald Tusk has insisted the EU does not want to build a wall, but Brexit means we will be drifting apart. The EU Council president said Theresa May wanted to demonstrate at any price that Brexit could be a success, but that was not the EU's objective. He was unveiling draft guidelines for the EU side of Brexit trade talks.