Three of India’s most industrialized states plan to import 10.5 million tonnes of coal in coming months as officials scramble to arrest widespread power cuts, a move that could push Continue Reading
The carbon emissions of JBS, the world’s largest meatpacking company, soared more than 50 per cent in the past five years, according to new research that lays bare the challenge Continue Reading
Shanghai authorities said on Thursday that tough restrictions would remain in place for now even in districts that managed to cut COVID-19 transmission to zero, prolonging the agony for many Continue Reading
China’s economic activity took a dramatic hit in April, according to a survey of sales managers that offered an early indication of how badly expansive Covid lockdowns weighed on the Continue Reading
Lu Muying died on April 1 in a government quarantine facility in Shanghai, with her family on the phone as doctors tried to resuscitate her. She had tested positive for Continue Reading
China’s credit card processor has refused to work with banks in Russia for fear of being targeted by sanctions over its war on Ukraine, cutting off a possible alternative after Continue Reading
Demand for soybeans from China — the world’s biggest importer of soybeans — is forecast to fall 3.5%-6.1% year on year in 2022 due to lower demand from the downstream Continue Reading
The U.S. Transportation Department said on Thursday it would award $6.4 billion over five years to states to fund projects to reduce greenhouse gas emissions. The funding, part of a Continue Reading
U.S. shale producers have exercised astonishing capital discipline in recent years. Despite calls on U.S. oil firms to ramp up production, many producers are being plagued by rising costs and Continue Reading
Five years after the United States became a net exporter of natural gas on an annual basis , the country’s natural gas exports both by pipeline and as liquefied natural Continue Reading
Refiners are planning to spend the summer increasing jet fuel and diesel production instead of gasoline, traders and analysts said, favoring what have historically been the least profitable parts of Continue Reading
European Union countries are edging towards a deal on how to share the burden of cutting greenhouse gas emissions within the EU, with states poised to accept national targets proposed Continue Reading
The United States on Wednesday imposed sanctions on dozens of people and entities, including a Russian commercial bank and a virtual currency mining company, hoping to target Moscow’s evasion of Continue Reading
Russia is inching closer to a default on its sovereign debts after an industry body overseeing the credit-default swaps market ruled Wednesday that the Kremlin failed to meet its obligations Continue Reading
Russian President Vladimir Putin announced Wednesday that his military successfully test-launched an intercontinental ballistic missile with the potential to carry a large nuclear payload, but the Pentagon said it was Continue Reading
Even before Russia’s invasion of Ukraine, the global energy market was struggling with supply and governments were pushing for an energy transition. As oil and gas prices continue to soar Continue Reading
In 2022, for the first time ever, Europe is set to install more than four gigawatts of offshore wind capacity in a single year. The previous record, set in 2019, Continue Reading
U.S. Banks are facing massive write-offs following their exit from Russia. Citigroup is one of the banks with the largest disclosed exposure to Russia. Some banks have performed well despite Continue Reading
In a concerted move to move away from its heavy reliance on Russia amid the Ukraine crisis, Germany authorities have finally given in and allowed gas drilling to proceed in Continue Reading
In Germany’s most definitive statement yet regarding Russian oil and gas imports, the German Foreign Minister has pledged that the country will cease importing Russian oil entirely by the end Continue Reading
The European Commission has been considering an embargo on Russian oil. It’s not clear yet when the sixth package would be proposed by the European Commission. EU in talks with Continue Reading
U.S. crude stocks fell by 4.5 mln bbls last week – API IMF cuts global growth forecast by nearly 1 pct point OPEC+ supply gap widens in March as sanctions-hit Continue Reading
Oil rebounded as industrial activity in virus-hit China picked up, and a report pointed to a decline in U.S. crude stockpiles. West Texas Intermediate rose toward $104 a barrel after Continue Reading
Oil prices could shoot up to a record $185 per barrel if the European Union acts to impose a full immediate ban on imports of Russian oil, JPMorgan says. The Continue Reading
Oil Sinks on IMF Global Growth Forecast Oil extended losses after the International Monetary Fund downgraded its global growth forecast, intensifying market concerns of an economic slowdown in the wake Continue Reading
The International Monetary Fund on Tuesday downgraded the outlook for the world economy this year and next, blaming Russia’s war in Ukraine for disrupting global commerce, pushing up oil prices Continue Reading
Global gas demand is set to turn negative in 2022 as a result of high prices and market uncertainty, with demand expected to fall by 0.3% this year, the International Continue Reading
Iran said it needs tens of billions of dollars of investment in its natural gas sector, underscoring how it would struggle to ramp up production even if the U.S. lifts Continue Reading
Saudi Crown Prince Mohammed bin Salman, wearing shorts at his seaside palace, sought a relaxed tone for his first meeting with President Biden’s national security adviser, Jake Sullivan, last September. The Continue Reading
This could have been Algeria’s moment: Europe’s efforts to wean itself off Russian gas should have provided the north African country with a golden opportunity to maximise exports and carve Continue Reading
The IMF is targeting 7.6% growth for the Saudi economy this year, raising its forecast by 2.8%. The increase in oil production and export revenues fuel the Saudi economy. High Continue Reading
Iraq pumped 4.34 million b/d in March, just under cap: S&P Global survey OPEC+ production fell in March for the first time in a year: survey OPEC+ supply constraints have Continue Reading
Brega’s closure follows that of Zueitina on April 18 Libya’s largest field Sharara is also shut-in Around 400,000 b/d output is lost due to closures Libya has called force majeure Continue Reading
Kazakhstan expects to resume full operations on its main oil-export route via Russia in the coming days, after storms curtailed shipments. The Central Asian country was forced to reduce deliveries Continue Reading
Guyana considers creation of state-run oil company. Guyana President: diversifying Guyana’s economy is crucial. Guyana will look for a “strategic partner” to run a state-run oil company. The world’s newest Continue Reading
Xi Says China Has ‘No Limits’ Partnership With Russia China will continue strengthening strategic ties with Russia, a senior diplomat said, showing the relationship remains solid despite growing concerns over Continue Reading
Japan raised its gasoline subsidy for oil distributors to the maximum figure of 25 yen ($0.1944) a litre for the seven days from April 21, up from 20.3 yen a Continue Reading
China imported 321,380 tonnes of liquefied natural gas from Russia in March, steady from the same month last year, despite a steep fall in the country’s total imports of the Continue Reading
Saudi Arabia exported nearly 13% less oil to China in March than a year earlier but retained its top supplier spot, while shipments from second-ranking Russia slipped 14%, Reuters’ calculations Continue Reading
China’s commercial capital of Shanghai reported no new COVID-19 infections outside quarantine areas in two districts on Wednesday, fanning hopes that the tide is turning in its pandemic battle, as Continue Reading
China more than doubled imports of steel-making coal from Russia in March, procuring the fuel at a discount as other nations move to ban deliveries due to the war in Continue Reading
Shanghai allowed 4 million more people out of their homes Wednesday as anti-virus controls that shut down China’s biggest city eased, while the International Monetary Fund cut its forecast of Continue Reading
Automobile makers face production hurdles amid pandemic Raw material, auto parts shortages reported The automobile manufacturers in Shanghai are likely to restart production in the week ending April 23, although Continue Reading
None of the world’s largest asset managers has definitively called on fossil-fuel companies to stop the development of new oil and gas projects. Surely, one would think, given all the Continue Reading
Europe is desperate to replace Russian gas, which has driven the U.S. to export as much LNG as it possibly can. 12 new LNG projects in the U.S. have already Continue Reading
As calls for new oil supply around the world grow louder, U.S. shale production is climbing slowly as producers refuse to throw caution to the wind. Drilled but uncompleted wells, Continue Reading
The Biden administration on Tuesday opened applications for a $6 billion program to help nuclear power plants struggling with rising costs as it seeks to stop the generators from shutting Continue Reading
Seaborne flows of Russian crude oil declined by a quarter in the seven days to April 15. Volumes heading to Asia from ports on the Black Sea, Baltic and Arctic Continue Reading
European natural gas futures rose amid lower flows from Russia and Norway, the continent’s largest suppliers. Russian shipments via Ukraine were expected to be below capacity on Wednesday, after orders Continue Reading
Here in the dirt of one of the world’s most radioactive places, Russian soldiers dug trenches. Ukrainian officials worry they were, in effect, digging their own graves. Thousands of tanks Continue Reading
