Airbus says A320neo delivery goal is tough but within reach

Airbus said the company still expects to deliver “around 200” A320neo aircraft in 2017. (Reuters)
Updated 19 October 2017
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Airbus says A320neo delivery goal is tough but within reach

TOULOUSE, France: Airbus planemaking chief Fabrice Bregier said the company still expects to deliver “around 200” A320neo aircraft in 2017, but added that reaching this existing target would be “tough” in the wake of delayed engine deliveries.
Bregier said Pratt & Whitney, whose industrial problems have delayed deliveries of jets at Airbus plants, was testing re-designed parts for its engines and expected to start delivering the improved versions at the end of this year.
Bregier was speaking to reporters after the maiden take-off of the A330neo, an upgraded version of the company’s most profitable wide-body jet that is aimed at challenging the latest version of Boeing’s 787 Dreamliner.
Airbus has decided to improve the plane’s maximum take-off weight by around 4 percent to 251 tons so that the A330neo can serve longer routes like Kuala Lumpur to London, he added.


Oil prices rise on signs Iranian oil exports are falling further

Updated 11 min 28 sec ago
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Oil prices rise on signs Iranian oil exports are falling further

SEOUL: Oil prices rose on Tuesday on signs Iranian oil exports this month have fallen from September ahead of US sanctions against Tehran that are set to start in November.
International benchmark Brent crude for December delivery rose 27 cents, or 0.33 percent, to $81.05 per barrel by 0325 GMT.
US West Texas Intermediate crude for November delivery was up 12 cents at $71.90 a barrel.
Iran has exported 1.33 million barrels per day (bpd) to countries including India, China and Turkey in the first two weeks of October, according to Refinitiv Eikon data. That was down from 1.6 million bpd in September, the data showed.
The October exports are a sharp drop from the 2.5 million bpd exported in April before US President Donald Trump withdrew from a multi-lateral nuclear deal with Iran in May and ordered the re-imposition of economic sanctions on the country, the third-largest producer among the members of the Organization of the Petroleum Exporting Countries (OPEC).
The sanctions on Iran’s petroleum sector will go into effect on November 4.
“Uncertainties will remain until Nov. 4 when it would be clear whether the United States would want to cut Iran oil exports to zero or grant waivers,” said Vincent Hwang, commodity analyst at NH Investment & Securities in Seoul.
“Brent prices are likely stay in the range of $80 a barrel or slightly higher, while WTI prices are likely to be $70-$75 a barrel,” Hwang added.
With the world’s only sizable spare oil output capacity, Saudi Arabia is expected to export more to offset the loss of Iranian oil supply from the sanctions.
Saudi Arabia’s Energy Minister Khalid Al-Falih said on Monday at a conference in New Delhi that the kingdom is committed to meeting India’s rising oil demand and is the “shock absorber” for supply disruptions in the oil market.
US crude stockpiles were forecast to have risen for the fourth straight week by about 1.1 million barrels in the week ended October 12, according to a Reuters poll ahead of reports from the American Petroleum Institute (API) and the US Department of Energy’s Energy Information Administration (EIA).
The API’s data is due for publication at 4:30pm on Tuesday, and the EIA report is due at 10:30am on Wednesday.