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Market News: Trump welcomed Netanyahu and expressed optimism about reaching an Israel-Hamas agreement "this week."On July 7, the 27th Senate election of the Japanese Diet was scheduled for voting on the 20th. The latest opinion poll conducted by Kyodo News from the 5th to the 6th showed that the opposition camp was more popular than the ruling coalition, and nearly half of the respondents hoped that the ruling coalition composed of the Liberal Democratic Party and the Komeito Party would not achieve the goal of more than half of the seats. The Japanese Senate is responsible for legislative review and government supervision. It has 248 seats. The term of office of members is six years, and half of them are re-elected every three years. This election will focus on 125 seats. In addition to 74 constituency seats and 50 proportional representation seats, there is also 1 by-election seat. According to Japanese media, the results of this Senate election will determine the fate of Shigeru Ishibas cabinet. If the ruling coalition wins less than 50 seats, Japanese Prime Minister Shigeru Ishiba may resign or reorganize the ruling coalition.On July 7, Goldman Sachs said it expects the eight OPEC+ members to increase their oil production quotas by 550,000 barrels per day in September, thereby completely canceling the voluntary production cuts of 2.2 million barrels per day. OPEC+ hopes to restore idle production capacity to normal as global oil demand shows resilience. Goldman Sachs said: "The decision to accelerate the pace of production increases announced on Saturday strengthens our confidence. We have pointed out since last summer that OPEC+ will shift to a more long-term balanced strategy, focusing on normalizing idle production capacity and market share, supporting internal cohesion, and strategically restricting US shale oil supply." Goldman Sachs expects that the crude oil production of the eight OPEC+ members will increase by 1.67 million barrels per day from March to September to 33.2 million barrels per day, of which Saudi Arabia accounts for more than 60% of the increase.Jianpeng Holdings (01722.HK) rose more than 105%.Both U.S. and Brent crude oil prices fell by more than 1% during the day, and are now trading at $64.93 per barrel and $67.2 per barrel respectively.

Airbus And Qantas Are Nearing Their First Sustainable Aircraft Fuel Investment

Aria Thomas

Feb 27, 2023 14:02

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Airbus SE (OTC:EADSY) and Qantas Airways Ltd plan to disclose the first investment from a $200 million fund to develop a sustainable aviation fuel (SAF) industry in Australia within the next month, according to an Airbus executive.


The companies established the fund after Qantas committed to incorporating 10% SAF into its fuel blend by 2030 and placed a multibillion-dollar order for narrowbody and wide body Airbus aircraft.


Australia lacks a SAF industry, so Qantas must purchase the petroleum at international airports.


Stephen Forshaw, Airbus' chief representative for Australia, New Zealand, and the Pacific, stated that the manufacturer and Qantas met weekly to discuss investments of more than $1 million in early-stage SAF initiatives in Australia.


"The first investment has been made, but it has not yet been finalized," he said in an interview prior to Tuesday's opening of the Australia International Airshow. "We've both consented to it, and I believe we'll make an announcement about its completion within the next month or so."


Qantas declined to comment.


According to Forshaw, the majority of investments under consideration involve seed financing, in which the partners may take a minority equity stake.


"Some of them could even predate Series A. It may afford us the opportunity or right of first refusal to invest in Series A, Series B, or beyond "he said. "The pace will then determine if we wish to do so or if we believe it is time to offer it up to other investors."


Given the limited availability of feedstock such as oils and fats, he deferred to specify the type of project that would receive the initial investment. However, he stated that Australia had a great deal of long-term potential to use solar energy for projects that would help meet demand.


Andrew Parker, the chief sustainability officer for Qantas, told analysts last week that the airline could achieve its 2030 goal of 10% SAF through purchases in London and California alone, if necessary, but noted that 70% of the airline's total fuel was sourced from Australia.


"We recognize we must play a leading position in developing a domestic industry," he said, adding that domestic production could begin in the latter half of the decade.


Qantas anticipates that by 2050, approximately 60 percent of its fuel will be SAF in order to satisfy its target of net zero emissions.