Adura urges UK government approval for Jackdaw gas production to avert winter shortages. Environmentalists oppose it due to climate change concerns. The project faces regulatory hurdles after a court ruling.
Owners of the Jackdaw gas platform in the North Sea are pressing the UK government for approval to start production by October 1st, warning of potential winter supply shortages. Environmental groups oppose the project, citing climate change concerns.
Russia has banned diesel exports until July 31 to address domestic shortages exacerbated by Ukrainian drone attacks. The move is expected to impact European diesel prices and global fuel markets.
US rare earths producers, backed by billions in government support, are exporting products to Japan and South Korea due to underdeveloped domestic demand and larger magnet manufacturing scales in Asia. Despite national security concerns over China's dominance, American companies are still building their supply chains.
India's DRDO successfully completed final development trials for its ULPGM-V3 precision guided missile, designed for UAVs in air-to-ground and air-to-air modes. Developed with a fully domestic supply chain, the missile is ready for mass production, boosting India's self-reliance in defense.
The US seeks to reduce dependence on China for rare-earth elements, crucial for electronics, EVs, and military tech, with a Wyoming mine offering potential for domestic supply.
South Korea will launch an evaluation system in July to subsidize EV manufacturers based on their contributions to domestic supply chains, technology, sustainability, and safety, requiring at least 60 out of 100 points for eligibility.
For RBI the situation is clear: The resilience of the global economy, already inflicted with trade tensions, is being tested by the conflict in West Asia. The biggest takeaway from the RBI bulletin is that India’s domestic supply chains may come under risk from a prolonged war scenario, though strong macroeconomic fundamentals provide a buffer.
