Climate change protesters in London have targeted insurance underwriting house Lloyd’s of London for its role in enabling fossil fuel projects. The City of London Police said they were aware Continue Reading
Multinational companies continue to pay almost 200,000 employees based in Russia despite pledges to suspend or end activities in the country, raising fears of mass sackings or nationalisations as hopes Continue Reading
Oil prices see-sawed on Tuesday as investors fretted over tight global supplies after Libya halted some exports and as factories in Shanghai prepared to reopen post a COVID-19 shutdown, easing Continue Reading
Oil erased earlier gains as traders weighed hawkish comments from U.S. Federal Reserve officials and China’s promise to repair the economic damage caused by a spate of lockdowns. Global benchmark Continue Reading
Corn extended a rally from a decade high on concern over dwindling supplies amid the war in Ukraine and slower planting in the U.S. Futures in Chicago rose as much Continue Reading
OPEC+ produced 1.45 mln barrels per day (bpd) below its production targets in March, as Russian output began to decline following sanctions imposed by the West, a report from the Continue Reading
Highlights Cash prices leap 50-90 cents higher in April 18 trading NYMEX Henry Hub May settles at high of $7.82/MMBtu CAPP Rail coal-to-gas switching is around $9/MMBtu: Analytics US cash Continue Reading
During its 1979 Islamic Revolution, Iran embraced the protest cry of “neither East nor West,” rejecting both the U.S. and the Soviet Union, then locked in the Cold War. The Continue Reading
The Emir of Qatar’s visit to Washinton at the start of this year did a lot to relieve fears that one of the world’s largest natural gas producers was moving Continue Reading
Iraq’s federal government and Kurdistan region produced a combined 4.591 million barrels per day (bpd) of crude oil in March, a modest month-on-month increase. According to field-by-field data compiled by Continue Reading
Tunisian authorities said they are working to prevent an “environmental disaster” after the Equatorial Guinea-flagged ship sank. A ship carrying 750 tons of fuel sank off Tunisia’s southeastern coast on Continue Reading
The OPEC Monthly Oil Market Report (MOMR) for April 2022 was published last week. The last month reported in each of the charts that follow is March 2022 and output Continue Reading
Soaring prices of liquefied natural gas (LNG) and coal on the international markets have left Pakistan, the world’s fifth-most populous nation, with having to cut electricity supply to households and Continue Reading
Few cargoes of Russian coal traded to India: sources Russian 5,500 kcal/kg NAR FOB at $60/mt discount to Newcastle coal Indian stockpiles dwindling, sufficient for 8 days of burn Payment Continue Reading
China’s economic growth accelerated in the first quarter. Still, retail sales contracted and new-home sales fell in March. John Liu reports. Bloomberg News Sign up for the New Economy Daily Continue Reading
For many leaders, mounting public anger and a rapidly worsening economic outlook would be cause for worry and a policy rethink. But Chinese President Xi Jinping, who doubtless would prefer Continue Reading
Investors aren’t buying the Chinese government’s bullish rhetoric and promises of support for an economy paying the price for its stringent Covid Zero strategy. China reported the biggest contraction in retail sales Continue Reading
Rising installations of solar and wind power mean efforts to shift workers from coal mines to renewable energy are speeding up. Follow us at @BloombergAU on Twitter and BloombergAsia on Continue Reading
China’s severe Covid-19 restrictions, which for two years aided the country’s pandemic rebound by keeping the virus outside its borders, are now emerging as the largest threat to its growth. Continue Reading
Asia forecast to need 1.2 million b/d additional crude in 2022 Dependence of leading Asian oil buyers on Libyan crude flows relatively small Thailand one of the most prominent buyers Continue Reading
Crude steel apparent consumption falls 3.8% on year in March Demand may fall further amid the cash-strapped property sector China’s steel demand is expected to continue declining in April as Continue Reading
Container and bulk ships are skipping Asia’s largest refueling hub in Singapore as delays at ports in China and elsewhere prompt vessels to reschedule their stops to save time. A Continue Reading
Chevron Corp (CVX.N) and the United Steelworkers union (USW) rejected each other’s proposals to end a month-long strike at the company’s Richmond, California, refinery, a union official said on Monday. Continue Reading
Buyers around the world are lining up to purchase electric vehicles this year even with sticker prices surging, flipping the script on a decade and a half of conventional auto Continue Reading
The U.S. has provided the equivalent of 7.6 billion euros ($8.2 billion) to Ukraine since the outbreak of war, making it the country’s biggest supporter, according to the Kiel Institute Continue Reading
The robots will take the most tedious, most dangerous jobs first, in most things. Trucking is no exception. Autonomous driving engineers are squarely focused on long-haul freight, the interstate runs Continue Reading
There is growing fear these days that the move to electric vehicles spells certain doom for a lot of low-skilled factory work. It mostly comes from the prediction, proffered by Continue Reading
Wind and solar energy are booming in the United States. The country’s power grid, however, may not be ready for the transition. America’s dated electric grid is in desperate need Continue Reading
Gasoline prices in the United States have dropped to a national average of $4.087 per gallon, down from $4.114 a week ago, but with oil prices rising again on the Continue Reading
The number of Drilled but Uncompleted Wells sank to its lowest level ever recorded, according to the Energy Information’s latest Drilling Productivity Report published on Monday. The number of Drilled Continue Reading
U.S. Shale production in the seven most prolific shale basins is set to increase 132,000 bpd in May to 8.649 million bpd, according to the Energy Information Administration’s latest Drilling Continue Reading
Stumbling gas production averages 13.8 Bcf/d in 2022 Rig count, new drilling, well completions accelerating Pipelines, local demand support growth to 17-18 Bcf/d Long-haul natural gas pipelines from the Permian Continue Reading
Horizontal drilling permits for new wells in the Permian hit an all-time high in March, with 904 total permit awards, Rystad Energy said. Horizontal drilling permits for new wells in Continue Reading
French Finance Minister Bruno Le Maire said on Tuesday that an embargo on Russian oil at a European Union level was in the works, adding that France’s President Emmanuel Macron Continue Reading
A Rolls-Royce (RR.L) design for a small modular nuclear reactor (SMR) will likely receive UK regulatory approval by mid-2024 and be able to produce grid power by 2029, Paul Stein, Continue Reading
Carmaker Stellantis (STLA.MI) said on Tuesday it was suspending production at its Russian plant due to logistical difficulties and sanctions imposed on Moscow. The world’s fourth-largest automaker, which produced and Continue Reading
Denmark wants to temporarily increase its output of natural gas to help Europe wean itself off Russian energy. The Nordic country, which has pledged to stop the production of fossil Continue Reading
Britain’s economy will shrink in the second quarter as the squeeze on living standards, the end of free Covid testing and an extra public holiday hit activity, according to new Continue Reading
The European Union can diversify away from Russia in natural gas faster than previously believed, the Prime Minister of Italy, Mario Draghi, said this weekend. In an interview with Corriere Continue Reading
Everything can be politicized, except food. This holds more relevance amid widespread protest and collective boycott calls against Russia’s invasion of Ukraine since Feb. 24 . With hundreds of multinational Continue Reading
Oil edged lower on Monday as worries over slowing demand in China balanced support from concern over tight global supply and the deepening Ukraine crisis. China’s economy slowed in March Continue Reading
Oil climbed as supplies from Libya were interrupted and Russia warned of the potential for record prices if more nations ban its energy. West Texas Intermediate traded above $107 a Continue Reading
The war in Ukraine is making it tougher for many emerging-market governments to make debt payments to foreign creditors, fueling concerns of potential crises that could shake markets and weaken the global Continue Reading
Libya halted oil production from its El Feel oilfield on Sunday and two sources at Zueitina oil port said exports there had been suspended after protesters calling for Tripoli-based Prime Continue Reading
The IEA and OPEC have both revised their oil demand projections, hinting that prices could see a meaningful decline in the coming months. China’s latest COVID lockdowns are also adding Continue Reading
The odds of a new nuclear deal with Iran are shrinking. The Iranian position on several key issues is preventing a breakthrough. Without addressing the future role of Iran in Continue Reading
Few cargoes of Russian coal traded to India: sources Russian 5,500 kcal/kg NAR FOB at $60/mt discount to Newcastle coal Indian stockpiles dwindling, sufficient for 8 days of the burn Continue Reading
China’s economic growth accelerated in the first quarter. Still, retail sales contracted and new-home sales fell in March. John Liu reports. Bloomberg News Sign up for the New Economy Daily Continue Reading
China refined 2% less oil in March than a year earlier, with throughput falling to its lowest level since October as a surge in crude oil prices squeezed margins and Continue Reading
China’s coal output rose 15% in March from the same month a year ago, with daily production climbing to a record, as Beijing urged miners to crank up operations to Continue Reading
