France to Reconsider Fourth Terminal at Paris Charles de Gaulle Airport

French Junior Minister for Transport Jean-Baptiste Djebbari arrives to attend the weekly cabinet meeting at the Elysee Palace in Paris, France, July 7, 2020. REUTERS/Benoit Tessier
French Junior Minister for Transport Jean-Baptiste Djebbari arrives to attend the weekly cabinet meeting at the Elysee Palace in Paris, France, July 7, 2020. REUTERS/Benoit Tessier
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France to Reconsider Fourth Terminal at Paris Charles de Gaulle Airport

French Junior Minister for Transport Jean-Baptiste Djebbari arrives to attend the weekly cabinet meeting at the Elysee Palace in Paris, France, July 7, 2020. REUTERS/Benoit Tessier
French Junior Minister for Transport Jean-Baptiste Djebbari arrives to attend the weekly cabinet meeting at the Elysee Palace in Paris, France, July 7, 2020. REUTERS/Benoit Tessier

The French government will reconsider plans to build a fourth terminal at Paris Charles de Gaulle airport because of the coronavirus crisis, Transport Minister Jean-Baptiste Djebbari said.

State-owned airport operator ADP plans to build a fourth terminal at CGG-Roissy with a capacity of 35 to 40 million passengers per year, but green activists and local towns are fighting it and the fall in traffic due to COVID-19 has raised doubts about its viability.

"The project to receive 40 million more passengers by 2030 is probably no longer justified as it was planned," Djebbari said on Europe 1 radio.

He said French airports would still need investment for upgrades and would have to make sure that new types of planes, such as hydrogen-powered planes, can land.

"The problem of T4 will be reviewed in depth, that is the reality," Djebbari said, adding that he has discussed the issue several times with ADP chief Augustin de Romanet.

Djebbari said the virus crisis had cut traffic at French airports to about 40% of pre-crisis levels, with slightly more traffic on domestic lines and a bit less on long-distance lines.

"Traffic is restarting very gradually. We will see in September whether business clients return, that will give an indication for the end of the year and next year," he said.

Djebbari, a former airline pilot, added that depending on this outlook, projects for airports and will have to be adjusted and airlines will have to adapt their offer.

ADP said on Monday passenger traffic could take as long as seven years to recover completely from the crisis.

First-half traffic at CDG and Orly combined fell by 62% to 19.8 million passengers.

French media have estimated terminal 4 would cost 7 to 9 billion euros.

A government-organised citizens' consultation about climate change has advised to ban all new airport construction.



Oil Prices Set to End Week over 3% Lower as Supply Risks Ease

FILE PHOTO: An oil and gas industry worker walks during operations of a drilling rig at Zhetybay field in the Mangystau region, Kazakhstan, November 13, 2023. REUTERS/Turar Kazangapov/File Photo
FILE PHOTO: An oil and gas industry worker walks during operations of a drilling rig at Zhetybay field in the Mangystau region, Kazakhstan, November 13, 2023. REUTERS/Turar Kazangapov/File Photo
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Oil Prices Set to End Week over 3% Lower as Supply Risks Ease

FILE PHOTO: An oil and gas industry worker walks during operations of a drilling rig at Zhetybay field in the Mangystau region, Kazakhstan, November 13, 2023. REUTERS/Turar Kazangapov/File Photo
FILE PHOTO: An oil and gas industry worker walks during operations of a drilling rig at Zhetybay field in the Mangystau region, Kazakhstan, November 13, 2023. REUTERS/Turar Kazangapov/File Photo

Oil prices fell on Friday, heading for a weekly drop of more than 3%, as concerns over supply risks from the Israel-Hezbollah conflict eased, alleviating earlier disruption fears.
Brent crude futures fell 55 cents, or 0.8%, to $72.73 a barrel by 0758 GMT. US West Texas Intermediate crude futures were at $69.52, down 20 cents, or 0.3%, compared with Wednesday's closing price.
On a weekly basis, Brent futures were down 3.3% and the U.S. WTI benchmark was trading 3.8% lower.
Israel and Lebanese armed group Hezbollah traded accusations on Thursday over alleged violations of their ceasefire that came into effect the day before. The deal had at first appeared to alleviate the potential for supply disruption from a broader conflict that had led to a risk premium for oil.
Oil supplies from the Middle East, though, have been largely unaffected during Israel's parallel conflicts with Hezbollah in Lebanon and Hamas in Gaza.
OPEC+, the Organization of the Petroleum Exporting Countries and allies including Russia, delayed its next policy meeting to Dec. 5 from Dec. 1 to avoid a scheduling conflict. OPEC+ is expected to further extend its production cuts at the meeting.
BMI, a unit of Fitch Solutions, downgraded its Brent price forecast on Friday to $76/bbl in 2025 from $78/bbl previously, citing a "bearish fundamental outlook, ongoing weakness in oil market sentiment and the downside pressure on prices we expect to accrue under Trump."
"Although we expect the OPEC+ group will opt to roll-over the existing cuts into the new year, this will not be sufficient to fully erase the production glut we forecast for next year," BMI analysts said in a note.
Also on Thursday, Russia struck Ukrainian energy facilities for the second time this month. ANZ analysts said the attack risked retaliation that could affect Russian oil supply.
Iran told a UN nuclear watchdog it would install more than 6,000 additional uranium-enriching centrifuges at its enrichment plants, a confidential report by the watchdog said on Thursday.
Analysts at Goldman Sachs have said Iranian supply could drop by as much as 1 million barrels per day in the first half of next year if Western powers tighten sanctions enforcement on its crude oil output.