The United Arab Emirates (UAE) is slashing exports of its Upper Zakum grade as it is diverting more volumes of the medium sour crude to a huge domestic refinery, traders and analysts have told Reuters.
ADNOC, the state oil and gas firm of one of OPEC’s top producers and exporters, is estimated to have shipped around 650,000 barrels per day (bpd) of Upper Zakum crude in March, compared to a monthly average of around 940,000 bpd throughout 2023, according to Rystad Energy data cited by Reuters.
At the same time, ADNOC has exported more volumes of the lighter and sweeter grade Murban to replace lower volumes of Upper Zakum, according to traders and analysts.
More Upper Zakum crude is now being run at ADNOC’s refurbished Ruwais refinery, which has a capacity to process 837,000 bpd of crude.
Back in 2018, ADNOC said it would invest $3.1 billion to introduce crude processing flexibility at its Ruwais oil refinery. Since then, the refinery has been modified to enable ADNOC’s Ruwais Refinery-West complex to process up to 420,000 bpd of Upper Zakum crude or similar crude types. This has freed more volumes of the UAE’s Murban crude, which fetches a higher price on the global oil markets, to be utilized for export sales.
Commenting on the refinery modification at the time, ADNOC said that “we can maximise the benefit of price differentials to enhance refinery margins, improve the middle distillate products and release valuable Murban crude into the market.”
ADNOC began using Upper Zakum at its domestic refinery in September last year, traders told Reuters.
Later in the autumn of 2023, sources familiar with ADNOC’s plans told Reuters that the Abu Dhabi firm had already notified some of its term customers that it would reduce the volume of Upper Zakum supply in 2024.
On the other hand, the UAE has said it would boost supply of the more expensive Murban crude, especially as the Middle Eastern producer won a higher quota under the OPEC+ agreement for 2024.
“Barrel-for-barrel, Murban brings more revenue for equal compliance,” Adi Imsirovic, director of Surrey Clean Energy, told Reuters.
Importers of the UAE’s medium sour grade Upper Zakum, most of all China, will now have to scour the market for other sources of heavier crude.
U.S. natural gas producers are slashing production in response to multi-year low prices. But they are also looking beyond the current slump, preparing to turn on more output by flexible operation of their inventory of wells.
“Natural gas is currently pricing at or below costs of production,” an executive at an exploration and production company said in comments in the quarterly Dallas Fed Energy Survey released this week.
Prices are historically low due to weak winter demand amid milder weather, record output at the end of 2023, and higher-than-average natural gas stocks.
Working natural gas stocks in the week to March 22 were 41% more than the five-year average and 23% higher than last year at this time, per the latest EIA data.
The oversupply and low prices have prompted many producers to start reducing production. But some are also stocking up inventories of wells ready to start pumping – or to be turned in line – as soon as prices rebound. Producers expect natural gas prices to recover next year amid growing demand for LNG exports and new LNG export plants that are slated to begin operations in 2025.
“All of us in the natural gas business are pinching as many pennies as we can right now,” Josh Viets, Executive Vice President and Chief Operating Officer at Chesapeake Energy, told the audience at Hart Energy’s DUG GAS+ Conference & Exhibition 2024 in Louisiana this week. Related: Against All Odds American Oil Soars Under Biden
But Chesapeake Energy, set to become the top U.S. natural gas producer after the planned merger with Southwestern Energy, is also deferring production from around 80 wells this year, which would give it up to 1.0 bcf/d of productive capacity available from deferred turn in line wells (TILs) by the end of 2024.
“The way I like to think about it is we’re using the reservoir as storage,” Viets told the conference, as carried by Bloomberg.
“When the market says, ‘hey, I need more gas,’ we’ll be in a position to quickly restore that to help meet the needs of consumers.”
In the Q4 2023 earnings release in February, Chesapeake Energy said it would be building productive capacity to align with consumer demand. By year-end, the company plans to have deferred around 35 drilled but uncompleted wells (DUCs) and about 80 TILs. A measured approach to production activation would be responsive to market demand, Chesapeake noted.
Other U.S. natural gas drillers, including the current top producer EQT Corporation, have also reduced output in response to the low domestic prices.
“The low prices we are experiencing now are causing us to tuck it in and keep our powder dry,” an executive at an E&P company said in comments to the Dallas Energy Survey.
“While companies are certainly protective of cash flow, they all want to be ready to service the next wave of LNG projects coming online in 2025,” Erin Faulkner at Enverus wrote this week.
Despite multi-year low natural gas prices in the United States, domestic producers continue to be optimistic about the long-term prospects of gas as a fuel, both in America and abroad.
Recent deals for LNG supply and midstream expansion point to an optimistic view in the industry about global gas demand and the role the U.S. could play in meeting said demand, despite the halt to LNG permit reviews.
Chesapeake, for example, signed in February its first LNG Sale and Purchase Agreements to buy around 0.5 million tonnes per annum of LNG from Delfin LNG at a Henry Hub-linked price with a targeted contract start date in 2028. Chesapeake will then deliver the LNG to commodity trader Gunvor on an FOB basis with the sales price linked to the Japan Korea Marker (JKM) for a period of 20 years.
Pipeline giant Enbridge announced this week a joint venture to build and operate natural gas pipelines connecting gas supply from the Permian to the U.S. Gulf Coast to tap into growing LNG export demand.
Henry Hub prices are set to rise by the end of 2024, and further still in the medium term, according to executives polled in the Dallas Fed Energy Survey.
Survey participants expect a Henry Hub natural gas price of $2.59 per million British thermal units (MMBtu) at year-end, compared to an average price of $1.44 per MMBtu through most of March when the survey responses were collected. Executives see Henry Hub prices at $3.18 per MMBtu two years from now, and at $3.94 per MMBtu five years from now.
Following a great dinner at home recently, Cindy asked, “So, Doug, if you were preparing tomorrow night’s meal, what would you make?” Hmn…My response, “Remember that time I made a baloney omelet?” I was immediately disqualified. Producing a meal requires skill, planning, experience, and common sense — just like producing crops. No baloney about that!
Recent price activity for CBOT wheat has been extremely disappointing. During the first half of December 2023, July CBOT rallied to $6.66 in the midst of a 3-day buying spree when China bought 41 million bushels of US wheat. Fast forward to the week of March 11. Disappointment was plentiful when in 3 successive days China announced several cancelations of U.S. wheat purchases totaling 18 million bushels. That same week China was also canceling wheat purchases from Australia and France. Corn, soybeans, and wheat all took huge price declines from December into February. While corn and soybeans reached contract lows the week of Feb. 26, wheat continued to move lower into the first half of March when July CBOT reached its most recent contract low at $5.37 ¾. It made multiple new contract lows in both February and March.
U.S. wheat producers last fall were obviously optimistic on prices as total acres estimated by USDA for 2023-2024 were expected to reach 49.6 million acres, up 3.8 million acres or 8% from 2022-2023. While many producers were applying nitrogen the last half of March and into early April, some producers were at least contemplating destroying wheat due to the price declines since December. Instead, they would plant corn or soybeans.
There continues to be growing confusion on world soybean imports into China. On one hand, the March USDA WASDE Report detailed China would be importing 105 million tons, a furious appetite of world soybeans for the current marketing year which ends August 31. That is an increase of 3 million tons from the Feb. 8 WASDE Report. The 105 million tons of soybean import is a monstrous number, the equivalent of 3.858 billion bushels, using nearly 93% of U.S. soybean production from 2023 if China imported exclusively U.S. soybeans. Of course, that will never happen but the comparison is mentioned only to highlight the vast import number. Here’s the confusion. To date, China has been buying very little of Brazil soybeans, while the latest U.S. soybean sale of 11 million bushels was on Jan. 19.
Into early March, Brazil farmers were extremely disappointed with the snail-like pace of soybean sales to China. Noticeably absent from the headlines has been any mention of Brazil soybean sales to China, which weeks earlier accounted for only 3 to 8 cargoes, roughly 2 million bushels per cargo, each week on several instances in January and February. Brazil’s soybean harvest to date was progressing faster than normal. It proved to be frustrating that soybean prices were declining along with the basis also widening as harvest progressed.
May 2024 CBOT soybeans reached a recent high at $12.17 ½ on March 14 up 20 cents on the day. That morning, Brazil farmers were heavy sellers of soybeans, putting an end to the mid-morning rally, as soybeans were down one penny on the close. Evidently, the 2-week rally of nearly 90 cents caught lots of attention when it was recognized for the steep climb in just two short weeks from its contract low of $11.28 ½ on Feb. 29.
Why is there a big spread between USDA and Conab, Brazil’s food agency on Brazil’s production numbers for soybeans and corn? USDA projected Brazil’s soybean production at 155 million tons and the Brazil corn production at 124 million tons. Conab has projected the Brazil soybean production at 146.8 million tons with the Brazil corn production at million 112.7 tons. You would think the numbers would be much closer.
Last month I was with a group from the Fairfield Soil & Water Conservation District touring two solar farm projects in Ross County. We were able to see their construction methods which included racking systems and panel placements that followed the contour of the topography. Their use eliminated the need for moving huge amounts of soil to have table top consistency across the project. In addition, the projects utilized a special mix of grasses grown onsite before the project started, then baled for future seeding efforts. This eliminates the need for straw to be imported from outside the project area, preventing plant species not already present at the project sites.
Thought for the day, “When you don’t know what you’re talking about, it’s hard to know when you’re finished.” – Tom Smothers.
Malaysian state-run oil company Petronas has set the official selling price of March-loading Malaysian crude oil (MCO) grades (OSP/MY) at $94.78, up by $1.65 from the previous month, according to a price document issued on Monday.
MCO grades include Labuan, Miri, Kikeh and Kimanis.
OSPs for the Malaysian grades in dollars per barrel:
Oil production in Ohio hit a record 27.8 million barrels in 2023, up 41% from 2022, according to researchers at the Levin College of Public Affairs and Education at Cleveland State University who have tracked production since 2011. In December alone, eastern Ohio oil wells pumped 93,000 barrels of crude, up one third from December 2022, according to federal data.
Ohio has become one of the top 10 oil producers in the country. It already was one of the biggest producers of natural gas.
“We always thought it was a gas play,” said Mike Chadsey, spokesman for the Ohio Oil & Gas Association. “Now it may very well become an oil play.’’
Utica shale investment tops $100 billion
It’s been more than a decade since drilling took off in eastern Ohio, driven by a controversial technique known as hydraulic fracturing, or “fracking” that environmentalists have criticized.
The number of producing oil and gas wells in Ohio now tops 3,100, according to the Cleveland State researchers. Investment has been estimated at least at $105 billion.
Most of the money has been spent on drilling while the rest has been spent on such things as pipelines, transportation, storage, processing and natural gas-fired power plants.
Production has been concentrated in 18 eastern counties, but it has been the strongest in a handful of counties near the Ohio River − Belmont, Harrison, Jefferson, Monroe, Carroll, Guernsey, Columbiana and Noble, according to Cleveland State’s reporting.
Even with the surge of oil production, the Utica continues to be a region dominated by natural gas, where 2.2 trillion cubic feet of gas was produced last year.
Crude made up about 7% of the state’s energy production last year, the researchers said.
What is driving oil growth?
Price and technology are key factors why more oil is being produced in Ohio.
Higher oil prices are making investments in the region profitable with oil prices climbing above $80 a barrel recently. Meanwhile, the warm winter hurt demand for natural gas and has been a drag on prices.
Natural gas produced in the Utica also trades at a discount because it’s hard to transport it from the region to market.
“Oil is more appealing,” said Mark Henning, research supervisor at the Energy Policy Center at the Levin School. “There’s a greater return on capital.”
Meanwhile, improved technology is allowing companies to access areas that in the past may have not been seen as productive as they are today, said Andrew Thomas, executive in residence at the Levin College.
“They can produce in places where they couldn’t produce 15 years ago with the technology they’ve developed,” he said.
The biggest jumps in oil productions are in Carroll and Guernsey counties. Jefferson, Belmont and Columbiana counties have also seen strong gains.
Carroll County had the most oil production last year in Ohio with 9.7 million barrels, Henning said. Guernsey County was second with 9.3 million barrels and Harrison County was third at 6.5 million barrels.
“There’s a lot more oil in Carroll than originally thought,” Thomas said.
Oil company EOG Resources, a newer company in the region, has told investors that it has accumulated leases on about 430,000 acres in the region.
“Now, just a reminder to the group, we’re investing at a $40 oil price,” EOG President Billy Helms said at a conference in January. “So we’re very comfortable with our investments and being able to generate the returns we’re wanting. And in today’s prices (about $81 a barrel Wednesday), those are monstrous returns. And that’s gone to help improve the financial performance of the company. So overall, that’s kind of how we think about it.”
EOG produced 1.3 million barrels of oil in 2023 in Ohio, with the highest producing wells in Harrison and Carroll counties, Henning said.
Encino Energy, Ascent Resources, Gulfport Energy, Rice Drilling, Southwestern Energy and Antero Resources account for 91% of the oil and gas production in the Utica in 2023, according to Cleveland State.
How long will it last?
Production of oil and gas in the Utica is still in the early stages and could go on for decades, Thomas said.
Even areas where oil and gas companies have fracked can in theory be fracked again to reach additional supplies of oil and gas, he said.
“We really haven’t developed the oil part yet,” he said.
EOG’s Helms said the company continues to be excited about the results the wells are getting.
“As a company, we’ve collected a lot of technology and a lot of data, the ability to analyze wells in the past and the future, apply EOG’s technology to those productive metrics … and to understand what’s the uplift we could get from applying those new technologies and these new plays,” he said at the conference.
“And the Utica is a textbook example where we took a look at some of the older wells in that play, analyzed it with our approach, and determined what the uplift could be.”
Gold price for April 5 delivery is trading higher on Thursday, March 28, by 0.24 per cent at 66,525. The price of gold stands at Rs 6,170 per gram for 22 karat gold and Rs 6,731 per gram for 24 karat gold (999 gold).
Gold prices steadied as investors digested comments from Federal Reserve Governor Christopher Waller on interest rate cuts and looked forward to more U.S. economic data for policy clues.
Meanwhile, spot gold was up 0.1 per cent at $2,195.59 per ounce. U.S. gold futures edged 0.2 per cent higher to $2,195.10.
“The Fed signalled they want to be cutting rates and there’s a geopolitical risk concern that continues to linger in the markets around these wars, both in Ukraine and in the Middle East, which is gold supportive,” said Ilya Spivak, head of global macro at Tastylive, said to Reuters.
“Gold prices are rangebound for most of the time this month and a break above current resistance level around $2,225 per ounce could see prices heading towards the $2,300 mark.”
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.
In Chennai, the price of gold has surged to over Rs. 50,000 per sovereign, reflecting a significant increase in demand for the precious metal. The price of gold jewelry has risen by Rs. 35 per gram, reaching Rs. 6,250 per gram in certain areas.
This rise in gold prices has led to an uptick in sales, with consumers flocking to purchase gold jewelry and ornaments. In response to the heightened demand, jewelry stores and dealers have adjusted their prices accordingly, with some offering competitive rates to attract customers.
The surge in gold prices can be attributed to various factors, including economic uncertainty, inflationary pressures, and geopolitical tensions. Gold has long been considered a safe haven asset during times of economic turmoil, making it an attractive investment option for individuals seeking to safeguard their wealth.
In Chennai, where gold holds cultural and traditional significance, the rise in gold prices has sparked renewed interest among consumers. From weddings to religious ceremonies, gold jewelry plays a central role in various cultural celebrations and rituals, further driving demand for the precious metal.
The price of 24-carat gold saw an uptick of Rs 10 in early trade on Thursday, with ten grams of the precious metal trading at Rs 66,940, according to the GoodReturns website. The price of silver rose Rs 100, with one kilogram of the precious metal selling at Rs 77,100.
The price of 22-carat gold rose Rs 10 with the yellow metal selling at Rs 61,360.
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 66,940.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 67,580, Rs 67,430, and Rs 68,030, respectively.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 61,360.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 61,510, Rs 61,360, and Rs 62,160, respectively.
The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 77,100.
The price of one kilogram of silver in Chennai stood at Rs 80,100.
US gold prices eased today as dollar and bond yields ticked higher after comments from a Federal Reserve official on interest rate cuts. Investors looked forward to more economic data for policy clues including core personal consumption expenditure (PCE) price index report which is due on Friday.
Moreover, India’s gold imports are set to plunge by more than 90 per cent in March from the previous month to hit the lowest level since the Covid pandemic, as banks cut imports after record-high prices hit demand.
Spot gold was down 0.2 per cent at $2,189.29 per ounce, as of 0139 GMT.
Spot silver slipped 0.4 per cent to $24.56 per ounce, platinum rose 0.4 per cent to $897.10 and palladium gained 0.4 per cent to $987.66.
VETS, GOLD STAR FAMILIES GET FREE ACCESS TO STATE PARKS AND LANDS
STATEWIDE — GOVERNOR HOCHUL ON WEDNESDAY ANNOUNCED THAT thanks to legislation passed in September 2023, beginning on Monday, April 1, all New York veterans and many Gold Star families will be able to apply to join New York’s Lifetime Liberty Pass program, which was previously open only to disabled veterans and gives holders free access and discounts at state parks, historic sites and other state lands. Benefits for passholders include free vehicle entry to state parks, campgrounds, boat launches, historic sites and arboretums; free greens fees at state golf courses; free swimming pool entrance at state pools; and discounts on some cabin and campsite rentals.
Veterans can access these benefits at parks with a state ID with Veteran status designation or apply for the free Lifetime Liberty Pass online on the state Parks Department’s website; Gold Star parents, spouses or children will need to submit applications for the Pass online.
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GOWANUS OVERSIGHT TASK FORCE MEETING
GOWANUS — THE FIFTH AVENUE COMMITTEE’S GOWANUS OVERSIGHT Task Force is holding its quarterly meeting on Thursday, open to the public. The task force is community-led and focused on collaborating with city government and tracking progress on the neighborhood’s rezoning and improvement goals. The meeting will feature presentations from the city Department of Housing Preservation and Development and Department of Conservation on the Gowanus Green sustainable affordable housing plan, which aims to construct 940 units of housing surrounded by parks, gardens and commercial and community spaces; the NYC School Construction Authority and Department of Parks and Recreation will also present on related plans for a public school and park attached to the project.
The meeting will be held on Thursday, March 28, from 5 p.m. to 8 p.m. at P.S. 133 on Baltic Street; attendees are asked to RSVP online on EventBrite.
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ALLEGED BKLYN MIRAGE KIDNAP CHARGES DROPPED
WILLIAMSBURG — CHARGES AGAINST TWO MEN SUSPECTED OF KIDNAPPING A CONNECTICUT doctor from the Brooklyn Mirage nightclub last year will be dropped after the doctor stopped cooperating with prosecutors,reports the New York Post. The case against Anthony Benjamin, 42, and Steve Daley, 50, reportedly hinged on opthalmologist Michael Bautista’s testimony. The Mirage was at the center of a possible crime spike last summer including the suspicious deaths of at least two people; in Bautista’s case, he was allegedly tricked by Benjamin and Daley into entering a fake taxi before being held at gunpoint and forced to purchase items and withdraw cash from an ATM for the pair.
The club is notorious for its controversies: an investigation by Gothamist in September revealed that the 2021 death of a customer by drug overdose in one of its bathrooms had gone unreported to state authorities, in addition to two prior similar deaths known to the state.
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FRAUDSTER GETS UP TO 7 YEARS FOR STEALING ALMOST $1M IN REAL ESTATE AUCTION SCHEME
DOWNTOWN BROOKLYN — A WOMAN HAS BEEN SENTENCED TO 3½ TO 7 YEARS IN PRISON FOR STEALING ALMOST A MILLION DOLLARS IN A FRAUDULENT REAL ESTATE INVESTMENT SCHEME involving more than a dozen Brooklyn properties. Brooklyn Supreme Court Justice Danny Chun presided at the sentencing of Regine Norman, a.k.a., Regine Ellis, 69, as identified by Brooklyn District Attorney Eric Gonzalez. Ellis pleaded guilty on Jan. 31 to six counts of second-degree grand larceny and three counts of third-degree grand larceny, for stealing approximately $959,000 from nine victims, falsely representing herself as a member of a private real estate auction with access to buy discounted properties in Brooklyn. She then convinced her victims to wire her money for down payments on the properties; however, no properties were ever purchased. After obtaining the down payment, the defendant provided her victims with fraudulent contracts of sale, which often included the forged signature of the actual property owners.
As part of her sentence, Ellis is ordered to pay restitution totaling $842,000.
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REVITALIZATION OF S. BROOKLYN MARINE TERMINAL MOVES FORWARD WITH PROJECT LABOR AGREEMENT
SUNSET PARK WATERFRONT — A NEW PROJECT LABOR AGREEMENT SIGNED ON WEDNESDAY WILL MOVE FORWARD CONSTRUCTION for a revitalized South Brooklyn Marine Terminal and New York City’s first offshore wind hub. Empire Wind and the Building & Construction Trades Council of Greater New York and Vicinity signed the Project Labor Agreement, which covers contracts with Skanska, GE-BOND and Nexans. The agreement is the first-of-its-kind PLA for Equinor, and a commitment to building the South Brooklyn Marine Terminal responsibly, with the help of New York’s highly skilled union construction workforce. The agreement will establish working standards, industry-leading safety practices, and equity in the construction of the terminal, creating over 1,000 union construction jobs and apprenticeships in local New York communities, as well as thousands of indirect jobs in manufacturing, shipping and logistics.
Construction is expected to begin as early as next week, starting with the demolition of existing outbuildings, excavation of the site, and bulkhead preparation work.
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ASSEMBLY REPUBLICANS PROPOSE THAT CRIMINAL TRESPASSING LAW INCLUDE SQUATTERS
ALBANY STATEHOUSE — A NEW PROPOSAL WITHIN THE NEW YORK STATE ASSEMBLY WOULD REDEFINE CRIMINAL TRESPASSING TO INCLUDE “SQUATTING,” the practice that allows a person to enter and take shelter in a home to which they have no legal rights or permission. Assemblyman Michael Tannousis (R,C/-64-Brooklyn and Staten Island) and his colleagues in the Assembly Minority Conference on Wednesday, March 27, announced the bill (which fellow Brooklyn Assemblymember Alec Brook-Krasny /R-46) is cosponsoring), has moved to committees in both houses of state legislature. New York laws currently allow a person to enter and reside in a home they do not own without the owner’s permission, paying rent or utility bills for 30 days. The homeowner must then take that individual to landlord-tenant court to have that person removed to evict him/her, a lengthy process.
Tannousis reported that recent social media videos show migrants instructing each other on how to take possession of vacant homes to which they have no rights including homes for sale or homes from which the owners are away for a short period.
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MTA GIVES OFFICIAL GREEN LIGHT TO ITS CONGESTION PRICING PLAN
CITYWIDE — THE MTA BOARD ON WEDNESDAY, MARCH 27, GAVE ITS FINAL OFFICIAL APPROVAL OF CONGESTION PRICING, the latest step in the transit agency’s plan to charge drivers a $15 daytime toll to enter Manhattan south of 60th Street, reports Gothamist. The approval process, which stretched five years from the original proposal, incorporated exemptions granted earlier this week to school buses, certain commuter buses and city-owned fleet vehicles. The MTA’s goal is to fund needed repairs and upgrades to the subway system, but the plan still faces hurdles, including some active class-action lawsuits, one of which the NAACP filed just last week.
Taxi drivers objected to the tolls during the meeting as they face a $1.25 surcharge that the board approved on taxi trips entering the congestion zone; however, yellow and green cab drivers won’t have to pay the $15 toll, an issue that MTA Chair Janno Lieber addressed in a press conference following the vote, according to Spectrum News New York 1.
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CITY LAUNCHES ENGLISH LEARNING AND SUPPORT CENTER PROGRAM FOR IMMIGRANTS
CITYWIDE — THE MAYOR’S OFFICE OF IMMIGRANT AFFAIRS on Wednesday, March 27, launched its (MOIA) English Learning and Support Centers located across the city to support longtime and recently arrived immigrant New Yorkers to learn English and get connected to city resources. More than 60 library branches — including the Brooklyn Public Library — and other non-profit organizations will receive more than $1 million in city funding to launch the centers. The MOIA English Learning and Support Centers (including Life of Hope in East Flatbush and Mixteca in southern Park Slope) will connect immigrant New Yorkers to beginner and intermediate-level English classes, using “We Speak NYC,” an award-winning curriculum that the city developed as a tool to teach English and educate New Yorkers on city resources and services.
MOIA has also provided subtitles for We Speak NYC episodes in the following languages: Arabic, Bengali, French, Haitian Creole, Korean, Nepali, Polish, Russian, Simplified/Traditional Chinese, Spanish, Urdu, and Wolof.
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BIPARTISAN BILL WOULD FACILITATE CO-OP HOME PURCHASES FOR VETERANS
CAPITOL HILL — A BIPARTISAN BILL IN CONGRESS AIMS TO MAKE IT EASIER FOR VETERANS IN NEW YORK CITY AND ACROSS THE NATION to purchase co-ops. The Fair Access to Co-Ops for Veterans Act (H.R.7703), which Reps. Nicole Malliotakis (R-11) and Grace Meng (D-06) introduced on Wednesday, March 27, would expand the Veterans Home Loan Guarantee program to include co-ops, allowing the U.S. Department of Veteran Affairs (VA) to guarantee co-op loans to eligible veterans. The bill would also direct the VA to advertise this co-op program to eligible veterans, participating lenders, and interested realtors. Rep. Malliotakis pointed out that co-ops account for roughly a quarter of NYC’s housing market.
In 2006, Congress passed a bill creating a five-year pilot program allowing veterans to purchase cooperative housing. Prior to this legislation, the VA Home Loans program could not be used for co-ops. However, the pilot program expired in 2011 and was never renewed.
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CITY AUTHORIZES E-CARGO BIKES, EXPANDING SAFETY RULESFOR STREETS
CITYWIDE — THE NYC DEPARTMENT OF TRANSPORTATION HAS AUTHORIZED THE USE OF E-CARGO BIKES ON CITY STREETS and has established key safety standards. New rules that DOT Commissioner Ydanis Rodriguez announced on Wednesday, March 27, are designed to make deliveries safer and more sustainable by reducing the number of large delivery trucks on New York City streets. The rules expand the legal definition of “bicycle” to include “pedal-assist bicycle” and define “commercial bicycle” as a bicycle used to transport commercial goods, and they establish a “Commercial Bicycle Loading Only” zone — dedicated space at the curb for pedestrian safety. The e-cargo bike speed limit was reduced from the proposed 20 miles per hour to 15 mph, and e-cargo bikes must not be parked or be left unattended on a sidewalk for any reason — even temporarily.
The finalized rules also increase low- or no-emission options for freight deliveries — including packages and groceries — by allowing the use of pedal-assist electric cargo bicycles that may be up to 48 inches wide and have up to four wheels.
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NYC IS GIVING PREPAID DEBIT CARDS TO MIGRANT FAMILIES
CITYWIDE — NEW YORK CITY HAS STARTED handing out prepaid debit cards to migrant families as a pilot program, NY1 reports. Giving migrants the funds for food and baby supplies directly makes it cheaper to feed them and generates income for local businesses, the city said. A family of four with two children under five will receive about $350 each week. The program is expected to expand to roughly 115 families.
Adams fended off accusations published in the New York Post that he had a prior relationship with the founder of Mobility Capital Finance (MoCaFi), the company that got the $50-plus million contract for the debit cards. “There’s no relationship. We don’t hang out and go [to] the Hamptons together. We don’t go to the baseball game together,” Adams said, according to Politico.
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POLICE SEEK STABBING SUSPECT
SUNSET PARK — POLICE ARE ASKING FOR HELP IDENTIFYING AN UNKNOWN MAN, WHO in the early morning hours of Monday, March 18, approached a 27-year-old male victim on 4th Avenue near Green-Wood Cemetery and stabbed him in the chest multiple times with an unknown object. The victim was transported to NYU Langone Hospital in stable condition. The suspect is described as around 5’9”, with a light complexion and a neck tattoo, and was last seen wearing a black North Face jacket with a logo on the back and front; photos released by police show him wearing a metal cross necklace, ripped jeans and a ballcap with the letter B on it.
Anyone with information regarding this incident is asked to call the NYPD’s Crime Stoppers Hotline at 1-800-577-TIPS (8477), or for Spanish, 1-888-57-PISTA (74782). The public can also submit their tips by logging onto the Crime Stoppers website or on X (Twitter) @NYPDTips.
The unknown man suspected of a stabbing in Sunset Park on Monday. All calls are confidential.
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NEW YORK OFFERS TO ASSIST COMMERCE FLOW AFTER BALTIMORE BRIDGE COLLAPSE
EAST COAST — NEW YORK STATE STANDS READY to assist the flow of commerce following the collapse of the Francis Scott Key Bridge in Baltimore, Maryland early Tuesday morning, Gov. Kathy Hochul said. The shocking near-total collapse followed the collision of an out-of-control containership with a bridge support. Video shows a nearly instantaneous collapse, with vehicles plunging into the water. “New York Harbor stands ready to assist any way we can [to] continue the flow of commerce, so it’s not disrupted. We have over 66 bridges in our harbor area, so we know the vulnerability of what can happen when one is down,” Hochul told Mika Brzezinski on MSNBC’s Morning Joe broadcast Tuesday. According to the New York Times, the massive vessel issued a Mayday alert before the crash, allowing some construction workers to escape in time.
The bridge, part of Interstate 695, is a major Baltimore traffic route, and the main artery used to travel from New York City to Washington, according to Bloomberg Daybreak’s U.S. podcast.
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MIKE TYSON’S CANNABIS GUMMIES, SHAPED LIKE EARS MISSING A CHUNK, LAUNCH IN BROOKLYN
BROOKLYN — CANNABIS-INFUSED GUMMIES LAUNCHED BY BROOKLYN-BORN BOXING GREAT MIKE TYSON go on sale today, and he is bringing them to his native borough. “Mike’s Bites” are available at Grow Together, one of the few legal weed shops in King’s County, along with the Housing Works cannabis store in Manhattan. The gummies are shaped like an ear with a bite taken out of them, recreating Tyson’s notorious 1997 boxing match with Evander Holyfield during which he bit off a chunk of Holyfield’s ear and started a near riot, ESPN reported. “Growing up in Brooklyn, I could have never imagined a time when cannabis would be legally utilized to enhance both mental and physical well-being. Yet, here we are,” Tyson said in a statement Tuesday.
Tyson, 57, has been much in the news lately as he is slated to fight Jake Paul, 27, in a controversial match to be streamed on Netflix on July 20. Tyson has not fought professionally since 2005, while Paul, 30 years his junior, has a height and reach advantage. Still, numerous boxing analysts give former world champ Tyson the odds.
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SMORGASBURG AND BROOKLYN FLEA SET TO REOPEN IN APRIL
BOROUGH-WIDE — FROM ETHIOPIAN STEWS TO KOREAN MEDICINE COOKIES, Montreal potato puff poutine, Colombian hot dogs and French-American pastries — food and drink from around the world will be available as Smorgasburg’s 14th season gets underway. Of the nearly 20 newcomers joining Smorgasburg’s returning roster of 60 vendors, six are first-generation immigrant-owned businesses and 11 are husband-and-wife- or family-run, Smorgasbord said in a release Tuesday. All markets return the first weekend of April: Saturdays in Williamsburg, Sundays at Prospect Park and Fridays at World Trade Center.
On a related note, the Brooklyn Flea antique and vintage market will reopen in DUMBO under and adjacent to the Manhattan Bridge Archway on weekends starting April 6.
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16-YEAR-OLD BOY ATTACKED, ROBBED NEAR BARCLAYS CENTER
PROSPECT HEIGHTS — A 16-YEAR-OLD BOY WAS WALKING NEAR BARCLAYS CENTER on Tuesday, March 12 at roughly 4:45 p.m. when four strangers approached him and attacked, punching and kicking him. The attackers forcefully removed the victim’s Moose Knuckle jacket and stole his wallet, Metrocard, cash app card and a charger, police said. The robbers fled towards Flatbush Avenue to parts unknown. EMS responded and transported the victim to Brooklyn Hospital in stable condition with a laceration to the top of his head.
Anyone with information is asked to call the NYPD’s Crime Stoppers Hotline at 1-800-577-TIPS (8477) or visit the Crime Stoppers website at https://crimestoppers.nypdonline.org/
Photo: NYPD
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LITHIUM-ION BATTERY SAFETY BILL GETS BIPARTISAN SUPPORT IN SENATE
CAPITOL HILL —The Setting Consumer Standards for Lithium-Ion Batteries Act now has bipartisan support in the Senate, with two Republican Senators becoming co-sponsors of this safety-focused legislation, Senate Majority Leader Chuck Schumer and Sen. Kirsten Gillibrand, announced on Tuesday, March 26. Schumer and Gillibrand, both Democrats from New York, said that Senators Marsha Blackburn (R-TN) and Mike Braun (R-IN) as cosponsors. The bill would require the Consumer Product Safety Commission to decree a final consumer product safety standard for rechargeable lithium-ion batteries used in e-bikes and other micromobility devices to protect against the risk of fires caused by such batteries. The FDNY reports that in New York City alone, rechargeable lithium-ion batteries have caused more than 600 fires since 2021. Last year saw 268 e-bike and e-mobility device battery fires in NYC, a dramatic increase from three years earlier.
The bill, which also has bipartisan support in the House, passed committee unanimously, 42-0. Among the House members from Brooklyn who also support this bill are Reps. Yvette Clarke (D-9), Dan Goldman (D-10 and Nicole Malliotakis (R-11/southwestern Brooklyn).
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LOCAL LEADERS DELIVER TO CITY HALL 52K-SIGNATURE PETITIONS AGAINST MEN’S SHELTER
GRAVESEND TO CITY HALL —AS PART OF A MONTHS-LONG CAMPAIGN TO STOP A GRAVESEND SITE FROM BECOMING A HOMELESS SHELTER, Assemblymember William Colton (D-47) and City Councilmember Susan Zhuang (D-43) deliveredpetitions containing approximately 52,000 signatures in opposition to a planned homeless shelter in their districts. Colton had already pre-empted a shelter on Bath Avenue whose developer, Tejpal Sandhu of 86th Street NY LLC, is the same as for the proposed men’s homeless shelter at 86th St. and 25th Avenue in Gravesend. Colton alleges that the Sandhu Group makes a practice of building so-called hotels in unexpected locations then leases them to the city at a cost of thousands of dollars per resident per month, all financed from taxpayer dollars.
Calling the proposed shelter a “human warehouse,” Colton and Zhuang said the city must find permanent ways of addressing homelessness: through sustainable-wage jobs and permanent housing for low-income and senior persons.
Councilmember Susan Zhuang, Assemblyman William Colton and a group of neighborhood advocates displayed the petitions on the steps of City Hall before bringing them inside to deliver them to the mayor’s office. Photo courtesy of Assemblymember Colton’s office
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FT GREENE PARK TO HOLD NAT’L POETRY MONTH WORKSHOP
FORT GREENE – THE FORT GREENE PARK CONSERVANCY WILL BE HOLDING A National Poetry Month celebration next month, featuring an open mic, performances from local poets, a book giveaway and a blackout poetry activity with the Brooklyn Public Library. Dedicated wordsmiths can also join the free (Nothing but) Flowers workshop session led by Brooklyn-based poet Najee Omar, focusing on drawing artistic inspiration from great poets of the past and from the natural world.
The Fort Greene Poetry in the Park event will take place on Saturday, April 13 from 11:30 a.m. to 3:30 p.m.; seats for the workshop are limited, so the conservancy strongly advises RSVPing online on Classy.
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MENTAL HEALTH WORKERS PLACED IN PROSPECT PARK, IN NYC PILOT PROGRAM
PROSPECT PARK — MENTAL HEALTH WORKERS WILL BE PLACED AT KEY LOCATIONS around Prospect Park and at park events as part of a pilot program launched by the Prospect Park Alliance and the NYC Department of Health, the park announced on Tuesday. The pilot program, Open Air Care Connections, seeks to remove the stigma around mental health care through community health outreach, events and educational programs. Health workers and referrals will be provided by the nonprofit Neighborhood Housing Services of Brooklyn (NHS Brooklyn).
According to the NYC DOH, nearly 25% of all New Yorkers experience anxiety, and nearly 18% depression. The pilot will run through June 30.
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REAL ESTATE’S ‘FUTURE OF NEW YORK’ CONFERENCE THURSDAY
CITYWIDE — DOWNTOWN BROOKLYN PARTNERSHIP’S REGINA MYER and other Brooklyn real estate-connected figures will be speaking at REBNY and Commercial Observer’s Future of New York event on Thursday, March 28. Future of New York, dubbed the real estate industry’s “State of the Union,” takes place on Thursday, March 28 in Manhattan at 5 Times Square, 29th Floor.
“The Future of NY event will provide visibility for the work that is being done behind the scenes to continuously reinforce and strengthen NYC’s economic resilience and global position,” event organizers said in a release.Register online.
New York City’s most populous borough, Brooklyn, is home to nearly 2.6 million residents. If Brooklyn were an independent city it would be the fourth largest city in the United States. While Brooklyn has become the epitome of ‘cool and hip’ in recent years, for those that were born here, raised families here and improved communities over the years, Brooklyn has never been ‘uncool’.
