Why Pfizer’s FDA Approval Has Been A Boon For Oil Prices
The recent resurgence in Covid-19 infections in many parts of the world led not just to a slump in oil prices but growing pessimism about the prospects of oil demand. Continue Reading
China Reopens Terminal at World’s Third-Busiest Port
The Meishan terminal at China’s second-busiest port reopened Wednesday following a two-week shutdown that further snarled already stressed shipping routes in Asia. The terminal will start the resumption of normal Continue Reading
China’s LNG import surge to cool in winter as high prices bite
China’s liquefied natural gas (LNG) imports are expected to increase at a slower pace in the second half of the year after blistering growth over the first six months, but Continue Reading
BOJ Sees Delta Variant Delaying Recovery More Than Expected
Japan’s economic recovery will be delayed more than previously expected as the delta variant pushes up infections to record levels, according to a Bank of Japan board member. “The current Continue Reading
Biden to Receive Report on Covid-19 Origins, but Challenges Persist in How to Deal With China
A new assessment by U.S. spy agencies of the origins of Covid-19 that was delivered to the White House Tuesday didn’t yield a definitive conclusion on whether the new coronavirus Continue Reading
Oil Sector Imposing Vaccine, Mask Mandates at Rigs, Refineries
Pioneer Natural Resources Co. , the largest oil producer in the Permian Basin, is requiring new hires to be vaccinated against Covid-19 as inoculation and mask mandates proliferate across the Continue Reading
Vaccine Passports Keep Europe Flying While China and the U.S. Slow
The delta variant of Covid-19 is scything through aviation just as key markets were getting back on their feet. In the U.S., Southwest Airlines Co. is blaming the delta strain Continue Reading
COVID jab protection wanes within six months – UK researchers
Protection against COVID-19 offered by two doses of the Pfizer/BioNTech and the Oxford/AstraZeneca coronavirus vaccines begins to fade within six months, underscoring the need for booster shots, according to researchers Continue Reading
Israel’s COVID-19 vaccine boosters show signs of taming Delta
Less than a month into a COVID-19 vaccine booster drive, Israel is seeing signs of an impact on the country’s high infection and severe illness rates fuelled by the fast-spreading Continue Reading
Iron-Ore Prices Tank as China’s Steel Output Slows
One of this year’s hottest commodities is flaming out. The price of iron ore has fallen roughly 40% since mid-July on concerns about demand from China, which makes more than Continue Reading
U.S. Economy Likely to Outgrow China’s Due to Contrast in Pandemic Responses
The U.S. and China are trading places in the economic growth race. U.S. gross domestic product rose 12.2% in the second quarter of this year from a year earlier, outpacing China’s Continue Reading
‘Distressed’ Crude From Venezuela, Iran Stacks Up Off Singapore
Oil stored in ships has been stacking up off key Asian ports as a crackdown in China on private crude oil processors has blunted purchases and disrupted flows, including some Continue Reading
Ships Resume Docking at Ningbo Port After Two-Week Shutdown
Ships have resumed berthing operations at a halted container terminal in Ningbo, China, adding to optimism that full activity at one of the world’s busiest ports will be restored shortly Continue Reading
Chinese Cities Aren’t Ready for Climate Disasters
Climate change is making China’s annual summer floods worse, and cities housing millions of people aren’t prepared to handle the damage. Record-breaking rainfall in the central province of Henan killed Continue Reading
FDA Gives Pfizer-BioNTech Covid-19 Vaccine Full Approval
The U.S. gave full approval for use of the Covid-19 vaccine from Pfizer Inc. PFE 2.48% and partner BioNTech SE BNTX 9.58% Monday, a move quickly followed by announcements from the Pentagon, the New York City school district and others that Continue Reading
Israel finds COVID-19 vaccine booster significantly lowers infection risk
A third dose of Pfizer (PFE.N) ‘s COVID-19 vaccine has significantly improved protection from infection and serious illness among people aged 60 and older in Israel compared with those who Continue Reading
Investors See Green Hydrogen Advancing as China Signals Support
Chinese investors see potential for further gains in companies making equipment needed to produce or use green hydrogen, a clean energy source most governments are betting will help them meet Continue Reading
Gasoline exports to Singapore hit 13-month low in July
China almost halved its gasoline exports in July from the previous month to 741,000 mt, with Singapore still the top destination at 443,000 mt, detailed data released by the General Continue Reading
British study shows COVID-19 vaccine efficacy wanes under Delta
A British public health study has found that protection from either of the two most commonly used COVID-19 vaccines against the now prevalent Delta variant of the coronavirus weakens within Continue Reading
Iran’s LPG exports near 2-year high in July, Aug on China demand
Deep discounts for Iran’s LPG attract Chinese buyers Pakistan, Bangladesh also take small amounts from Iran Iran’s LPG exports are set to stay near two-year peaks of around 500,000 mt Continue Reading
New Wave Of COVID Is Nightmare For Gulf Oil Producers
The resurgence of COVID in China could not have happened at a worse time for Middle Eastern producers. Saudi Arabia brought back all its 1 mbpd voluntary production cut and Continue Reading
China Approves Renewable Mega-Project for Green Hydrogen
The Chinese region of Inner Mongolia has approved a massive power project that will use solar and wind to produce green hydrogen. Inner Mongolia’s Energy Administration has given the go Continue Reading
China’s Oil Product Exports Plunge As Quotas Are Slashed
Chinese exports of gasoline and diesel plunged in July compared to June, after China slashed the quotas of authorized exports of refined petroleum products, according to data from the General Continue Reading
China Has Thousands of Hydropower Projects It Doesn’t Want
As President Xi Jinping calls for greater environmental protection, officials are eager to demolish badly-planned dams. But the country will need vast amounts of clean hydroelectric power to meet its Continue Reading
China Continues To Tap Crude Reserves Despite Plunge In Refining Activity
The world’s largest oil importer, China, is estimated to have drawn some crude from its oil reserves in July, although its refining throughput fell to the lowest level in over Continue Reading
Rising COVID-19 Case Count Disrupt Oil Ports In China
The rising Covid-19 case count in China has begun disrupting crude oil trade as it shutters some of the world’s busiest ports. Bloomberg reported earlier this week that the Ningbo-Zhoushan Continue Reading
China Port Congestion Worsens as Ningbo Shuts for a Week
The partial closure of the world’s third-busiest container port is worsening congestion at other major Chinese ports, as ships divert away from Ningbo amid uncertainty over how long virus control Continue Reading
Escalating U.S.-China Solar Rift Threatens Biden Green Goals
The first big test of Joe Biden’s lofty clean-power ambitions may not be sweeping climate legislation that needs congressional approval, but managing a solar supply chain that’s being shaken by Continue Reading
CHINA DATA: Jan-July key oil products exports hit 29 mil mt, leaving 7.5 mil mt quota for Aug-Dec
China exported a total 29.09 million mt of gasoline, gasoil and jet fuel in January-July, leaving just 7.54 million mt of export quota available for the rest of the year Continue Reading
U.S. reports more than 1,000 COVID deaths in single day
The United States reported more than 1,000 COVID-19 deaths on Tuesday, equating to around 42 fatalities an hour, according to a Reuters tally, as the Delta variant continues to ravage Continue Reading
China’s crude runs likely to retreat in Q3 after record highs
New refining capacity in Q4 could help throughput to rebound China’s crude throughput in July took a breather after hitting record highs in the previous month, with analysts saying high Continue Reading
China Oil Refining Tumbles to 14-Month Low
China’s oil refining slumped to the lowest level in 14-months as private processors scaled back operations amid a crackdown by authorities. Daily crude processing fell below 14 million barrels a Continue Reading
China Port Congestion Worsens as Ningbo Shuts for Seventh Day
The partial closure of the world’s third-busiest container port is worsening congestion at other major Chinese ports, as ships divert away from Ningbo amid uncertainty over how long virus control Continue Reading
CHINA DATA: Shandong refiners’ throughput hits 16-month low in July on maintenance, slim margins
Highlights Refining margins fall on rocketing crude prices Monthly throughput forecast to fall below 10 million mt Bitumen blend, fuel oil remain in demand Feedstock throughput at China’s independent refineries Continue Reading
China Is Preparing For Life After Fossil Fuels
The green energy revolution is redrawing the lines of the global geopolitical map and China is fighting to come out on top. While other energy superpowers such as the United Continue Reading
China economy under pressure as factory output, retail sales growth slow sharply
Industrial output +6.4% y/y vs June’s +8.3%, Reuters poll +7.8% Retail sales +8.5% y/y vs June’s +12.1%, Reuters poll +11.5% Fixed asset investment +10.3% in Jan-July, Reuters poll +11.3% Analysts Continue Reading
Sydney records deadliest day of COVID-19 pandemic, Melbourne lockdown extended
Australia’s biggest city of Sydney recorded its deadliest day of the COVID-19 pandemic on Monday as troops and police set up roadblocks to limit the movement of people, while Melbourne Continue Reading
China refinery output falls to lowest in 14 mths as teapots cut runs
China’s daily crude throuhgput last month fell to the lowest since May 2020 as independent plants slashed production amid a tighter quotas, high inventories and weakening profits. Last month’s processing Continue Reading
Delta variant and floods spark anxiety over Chinese growth
China’s economy sharply underperformed in July, with widespread flooding and an outbreak of the coronavirus Delta variant exacerbating concerns that the country’s growth trajectory would continue to lose momentum. Official Continue Reading
China’s crude runs likely to retreat in Q3 after record highs
Highlights Throughput could retreat to 14.6 mil b/d in Q3: Platts Analytics Pandemic-related restrictions could keep demand under check New refining capacity in Q4 could help throughput to rebound China’s Continue Reading
Russia releases worst pandemic death numbers to date
Russia’s daily COVID-19 deaths hit a new record of 819 on Saturday, a day after Moscow’s health department reported the highest number of monthly deaths in the city since the Continue Reading
Shippers await clarity on impact of shutdown at China’s Ningbo
Highlights Carriers omit sailings at the terminal, warn of delays Shippers fear booking cancellations Lockdowns, delays in Vietnam may exacerbate problems The shutdown of the Meidong terminal at China’s Ningbo Continue Reading
China’s Port Shutdown Raises Fears of Closures Worldwide
A Covid outbreak that has partially shut one of the world’s busiest container ports is heightening concerns that the rapid spread of the delta variant will lead to a repeat of last Continue Reading
China’s Producer Prices Jump Despite Efforts to Cool Commodities Costs
China’s factory-gate prices rose at an unexpectedly fast clip in July, matching the highest level in more than 12 years as crude oil and coal prices soared—though economists say the Continue Reading
China’s Port Shutdown Raises Fears of Closures Worldwide
A Covid outbreak that has partially shut one of the world’s busiest container ports is heightening concerns that the rapid spread of the delta variant will lead to a repeat of last Continue Reading
China puts growth ahead of climate with surge in coal-powered steel mills
China’s expansion of coal-powered steel mills accelerated sharply in the first half of 2021, exposing the government’s reluctance to sacrifice industry-fuelled growth to achieve its climate goals. Analysis of Chinese Continue Reading
China’s July oil product exports fall on quota shortages
China’s oil product exports fell 28% month on month to 4.64 million mt in July — a five-month low — as oil companies cut exports due to quota shortages. China Continue Reading
Chinese Oil Demand To Crash By 1 Million Bpd On Covid Surge
China’s oil demand is expected to be 1 million barrels per day (bpd) lower in the next two months than previously expected due to the rising number of COVID cases Continue Reading
China is Redrawing the World’s Energy Map
China’s outsize energy needs and its reliance on overseas suppliers have underpinned its foreign policy for decades. Now those needs are changing. The planet’s largest oil and coal importer wants to become Continue Reading
Can Anything Replace China As Demand Driver For Oil?
That the oil-producing world is highly reliant on China’s appetite is a fact we are reminded of from time to time. Last year, Chinese buyers dragged oil prices out of Continue Reading