China’s economic slowdown worsened in August as coronavirus outbreaks exposed lingering weakness in consumer spending and cast greater doubts over the country’s growth prospects. Retail sales rose just 2.5 percent Continue Reading
China made headlines last week with the news that it was going to release some crude oil from its strategic petroleum reserve and sell it in a move that Bloomberg Continue Reading
Oil prices were choppy last week, but as of this writing, have so far failed to break out of last week’s trading range. Further to that end, the oil market Continue Reading
China is taking a page out of the Keynesian central banking playbook on how to micromanage an entire economy and is now reportedly fining auto chip sales companies for driving Continue Reading
New local COVID-19 infections more than doubled in China’s southeastern province of Fujian, health authorities said on Tuesday, prompting officials to quickly roll out measures including travel restrictions to halt Continue Reading
Chinese data this week will show the damage done from a widespread Covid outbreak last month that partially shut the world’s third-busiest container port and sent parts of the country Continue Reading
The furnaces and cooling towers on Capital Steel Campus in west Beijing used to spew toxic smoke. Today they’re nothing more than quaint paraphernalia decorating an 860-hectare park, which has Continue Reading
China to sell state crude reserves in phases via public auction Top oil importer’s producer price inflation at 13-yr high in Aug Auctions could sell off 10-15 mln bbl of Continue Reading
Remember when China vowed last year to hit peak carbon emissions in 2030 and to reach carbon neutrality in 2060? Maybe it will (spoiler alert: it won’t)… … but long Continue Reading
Mineral Resources Limited revealed that recent drilling activity led to a ‘significant’ gas discovery at the Lockyer Deep 1 project in the onshore Perth Basin, Australia. Mineral Resources Limited (MRL) Continue Reading
In this Aug. 17, 2021, file photo, patient with COVID-19 on breathing support lies in a bed in an intensive care unit at the Willis-Knighton Medical Center in Shreveport, La. Continue Reading
Royal Dutch Shell is considering making it mandatory for workers in some operations to get COVID-19 vaccinations or risk being fired, an internal company document seen by Reuters shows. The Continue Reading
BP Plc (BP.L) said on Tuesday it was conducting a joint feasibility study with Australian lender Macquarie Group (MQG.AX) to produce green hydrogen at the oil giant’s former refinery site Continue Reading
Companies are delaying sending employees back on the road this fall amid another surge in coronavirus cases. Airlines and hotels had hoped that business travel—one of the most lucrative pillars Continue Reading
More than 40 million cases of the coronavirus have been recorded in the United States, according to a New York Times database. The total number of known infections, more than Continue Reading
Gazprom Neft, the oil arm of Russian gas giant Gazprom, is starting to settle payments for the jet fuel it supplies in China in yuan, instead of in U.S. dollars, Continue Reading
In the 20th century, oil became a major geopolitical weapon, most notably during OPEC’s 1973 oil embargo which caused a cataclysm shift in global power relations. OPEC continues to utilize Continue Reading
China and the US have failed to reach a climate agreement after Biden’s climate envoy John Kerry pushed Beijing to make more public pledges before a UN climate summit in Continue Reading
Sydney, the epicentre of Australia’s biggest coronavirus outbreak, is expected to see daily infections peak next week, authorities said on Monday, as they look to speed up immunisations before easing Continue Reading
Japanese automakers Honda Motor (7267.T) , Nissan Motor (7201.T) and Toyota Motor (7203.T) saw their sales in China tumble in August as a chip shortage hit vehicle production in the Continue Reading
Coal will be a major contributor to Australia’s economy well beyond 2030 given growth in global demand, the country’s resources minister said on Monday, a day after a United Nations Continue Reading
U.S. climate envoy John Kerry said political tensions with China affect the outlook for climate cooperation, as top Chinese officials pushed Washington to commit to improvements in their broader relationship. Continue Reading
Australia, struggling to quell its worst wave of COVID-19, reported 1,756 infections on Saturday, another record high, and officials warned that worse is yet to come, urging people to get Continue Reading
Brian Pierce, the coroner in Baldwin County, Ala., thought he had seen the last of the coronavirus months ago as the area’s death count held steady at 318 for most Continue Reading
Iran’s new Oil Minister, Javad Owji, met on Thursday with a top official from the China National Petroleum Corporation (CNPC) in Tehran to discuss cooperation and expansion of bilateral relations. Continue Reading
After recording the worst monthly loss this year in August, the oil markets have kicked off trading in September on a much brighter note on a trifecta of positive developments. Continue Reading
Australia’s conservative government introduced legislation on Thursday that could help clear the way for offshore wind farms to go ahead in a country considered to have massive offshore renewable energy Continue Reading
China’s attempt to curb carbon emissions and conserve electricity while being able to ensure economic growth is wreaking havoc across commodities markets. China’s efforts to thread the needle between an Continue Reading
Trucked LNG prices in southern China, including Guangdong and Fujian provinces, have surged to around Yuan 6,000/mt ($527.66/mt) in the last couple of weeks, a record high for the summer Continue Reading
China is cracking down on its private-sector oil refiners in a bid to close tax loopholes and mitigate pollution. Approximately a quarter of the nation’s mammoth refining capacity comes from Continue Reading
Back in April, in the midst of a contentious trade spat and unofficial coal embargo between China and Australia, Oilprice speculated that the winner of the battle may not be Continue Reading
China’s demand for spot crude appears to be recovering after nearly five months of slower purchases caused by a shortage of import quotas, drawdowns from high inventories and COVID-19 lockdowns Continue Reading
China’s top offshore oil and gas producer, CNOOC, has launched the country’s first offshore carbon capture and storage (CCS) project in South China Sea, which is expected to store more Continue Reading
China’s Sinopec Corp plans to spend 30 billion yuan ($4.6 billion) on hydrogen energy by 2025 as the state oil and gas major pivots to producing natural gas and hydrogen Continue Reading
The daily average for hospitalized Covid-19 patients in the United States is now more than 100,000. That average, calculated over the last seven days, is higher than in any previous Continue Reading
U.S. officials have begun blocking the import of solar panels that they believe could be products of forced labor in China, implementing a recent ban that could slow the construction Continue Reading
PetroChina has targeted increasing its green energy production and utilization capacity by 3.5 million mt standard coal/year in 2021, as part of its effort to meet emission peak by around Continue Reading
Australia reported a record 1,126 coronavirus infectious on Saturday, the vast majority in New South Wales, the epicenter of the Delta-fuelled outbreak. More than half of Australians have been in Continue Reading
Chinese tech stocks’ best weekly rally since January may not be enough to persuade some investors to return to a market still reeling from an unprecedented private-industry assault. JPMorgan Asset Continue Reading
Wealthy countries are finalizing plans to roll out Covid-19 booster programs to counter the threat from waning vaccine immunity, decisions that will further squeeze the supplies available to the developing Continue Reading
PetroChina aims to have oil, gas, and green energies to each account for a third of its portfolio by 2035, it said on Thursday, as the Chinese oil major shifts Continue Reading
Sydney’s outbreak of delta variant cases is worsening, with new daily infections in New South Wales state passing 1,000 for the first time. India recorded the highest daily tally in Continue Reading
China’s state-run energy major Sinopec said on Wednesday it had discovered a new 100-million-tonne oil and gas field in the Shunbei area of the Tarim Basin in the country’s Xinjiang Continue Reading
Approvals for major new coal power plants by China’s local authorities show the tension in the nation’s efforts to meet climate goals, even as the overall total of projects given Continue Reading
China announced on Wednesday the discovery of a major shale oilfield in the Daqing Oilfield cluster with expected reserves of 1.27 billion tons of oil, Chinese Xinhua news agency reported Continue Reading
Seaborne metallurgical coal prices hit an all-time high of $410/mt CFR China for premium hard coking coal Aug. 25. The previous high was reported at $392.50/mt CFR China on Jan. Continue Reading
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast . China’s campaign to clamp down on industries ranging from steel to education to Continue Reading
Labor shortages are materializing across China as young people shun factory jobs and more migrant workers stay home, offering a possible preview of larger challenges ahead as the workforce ages Continue Reading
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
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
