China Claims First Offshore Shale Oil And Gas Discovery
In a first for Chinese offshore shale, state-run oil giant CNOOC has announced what it claims to be a commercial discovery in the Beibu Gulf in the South China Sea Continue Reading
Japan urges regions to mount COVID fight as variant spreads
Japan is encouraging regional authorities to take steps to contain a new coronavirus variant that has sent cases to record levels, but there is no plan for sweeping national measures. Continue Reading
Keep calm and cut the air con – Japan’s energy saving is model for Europe
As Europe braces for energy shortages from Russian gas cuts, Japan’s own energy crisis a decade ago offers survival lessons to households and businesses – such as dimming the lights Continue Reading
Covid in China: Million in lockdown in Wuhan after four cases
Image caption, A recent study suggested a strong association between the outbreak and animals at Wuhan’s Huanan wildlife market Almost one million people in a suburb of Wuhan – China’s Continue Reading
China’s Blistering Heat Strains Power Grids and Disrupts Farming
A woman shields from the sun in Beijing’s central business district. Photographer: Mark Schiefelbein/AP Photo Bloomberg News Scorching temperatures across China are straining power grids as the country tries to Continue Reading
China’s Slowdown Spills Over to Major Economies Through Imports
China’s economic slowdown is spilling over to major exporting nations in Europe and East Asia through falling demand for manufactured goods, causing Germany and South Korea to post rare deficits Continue Reading
China And India Are Buying Less Russian Crude
Asian nations are letting up on discounted Russian oil exports, with Bloomberg data showing a 13% decline over the past four weeks as Chinese and Indian demand ease, chipping away Continue Reading
Why China’s economic measures may not be enough to drive up consumer demand
China’s economic activity has started to recover from the late-May COVID-19 resurgence, while the government has also been stepping up fiscal and monetary stimuli to support the recovery. However, recovery Continue Reading
CHINA DATA: July crude throughputs seen lower amid heavy maintenance
China’s crude throughput is likely to edge lower in July, weighed down by maintenance at state-owned refineries amid uneven oil product demand recovery and limited exports , S&P Global Commodity Continue Reading
China’s Rural Banking Smash-Up
More trouble for China’s rural commercial banks is more or less inevitable unless the property market turns around soon. A protest by bank depositors in the province of Henan has Continue Reading
China plans ‘great efforts’ to consolidate economic recovery
BEIJING, July 22 (Reuters) – China will make great efforts to consolidate its economic recovery particularly in the crucial third quarter, putting a priority on stabilising employment and prices, state Continue Reading
Honda to cut output by up to 30% at Japan plants on supply snag
Honda Motor Co (7267.T) said it would slash production by up to 30% in Japan next month against original plans due to persistent supply chain and logistical issues. Two lines Continue Reading
China Is Preparing to Step In to Curb Soaring Solar Prices
Photovoltaic modules at a solar power plant near Golmud, Qinghai province, China. Photographer: Qilai Shen/Bloomberg Bloomberg News China’s government is preparing to intervene to halt soaring polysilicon prices that have Continue Reading
Singaporeans Need a Record $82,000 for the Right to Buy a Car
Vehicles travel along the Pan Island Expressway in Singapore. The cost for the right to buy a car in Singapore has reached a record high for large automobiles and risen Continue Reading
CHINA DATA: H1 fuel oil exports slip 7% on year to 9.09 mil mt
China’s fuel oil exports over January-June slumped 7.3% year on year to 9.09 million mt (318,982 b/d), pressured by a sharp rise in domestically produced barrels amid ambitious plans to Continue Reading
Japan’s Russian crude oil imports fall to zero in June
Top two refiners suspend purchase of Russian crude Russian coal imports plunge 60%, LNG imports hike 26% in June Japan’s Russian crude oil imports fell to zero in June, while Continue Reading
Australia battles fresh Omicron outbreak as COVID deaths rise
Customers queue outside a Western Sydney chemist to purchase Rapid Antigen Test kits in the wake of the coronavirus disease (COVID-19) pandemic in Sydney, Australia, January 5, 2022. REUTERS/Jaimi Joy Continue Reading
Coal’s Dominance in China Will Endure for a Decade or More
Bloomberg News For those dismayed at the searing heat afflicting much of the planet, some sobering news from the world’s biggest coal industry: the dirtiest fossil fuel will remain China’s Continue Reading
China May See An Unprecedented Drop In LNG Imports Next Year
High LNG prices have made the commodity significantly less popular in China. Coal-supportive policies are making coal-fired power more attractive. Lower power demand as a result of China’s strict covid Continue Reading
Russia’s Cheap Oil Gains Market Share In China
ESPO crude grade gains popularity in China. ESPO goes for around $1-$2 discount per barrel to the international benchmark Brent. High demand for the cheaper Russian crude relative to rival Continue Reading
How China Could Trigger The Next Sharp Selloff In Crude
China’s very-strict covid policies continue to be a major risk for crude markets. China was almost single-handedly responsible for the commodities pricing super-cycle that occurred between 2000 and 2014. Any Continue Reading
CHINA DATA: Russian June crude supplies fall 11% from May’s record to 1.78 mil b/d
China’s imports of Russian crude oil fell 10.6% from a record high in May to 1.78 million b/d, or 7.29 million mt, in June, but the producer remained the biggest Continue Reading
Russia is China’s top oil supplier for 2nd month, Saudi volumes tumble – data
June Russian oil imports 1.77 mln bpd, +9.5% y/y Saudi No.1 supplier for H1 at 1.75 mln bpd; Russian 1.67 mln bpd H1 imports from Angola -14% y/y, Brazil -23% Continue Reading
Shanghai enforces new COVID testing, some areas in China extend lockdowns
Several large Chinese cities including Shanghai are rolling out new mass testing or extending lockdowns on millions of residents to counter new clusters of COVID-19 infections, with some measures being Continue Reading
Searing Heat Tests China’s Ability to Keep Its Factories Running
A persistent heatwave is hobbling China’s ability to keep its factories operating as virus curbs disrupt the supply of coal and inventories of the fuel run low. The government’s pledge Continue Reading
China’s Fuel Exports Plunge
Gasoline exports slumped by 42 percent annually in the first half of this year compared to the same period of 2021. Chinese authorities continue to reduce export quota. Combined with Continue Reading
Covid Rises Across U.S. Amid Muted Warnings and Murky Data
Covid-19 is surging around the United States again in what experts consider the most transmissible variant of the pandemic yet. But something is different this time: The public health authorities are holding Continue Reading
Chinese Export Hubs Order Mass Covid-19 Testing, Raising Risk of Lockdowns
Two of China’s biggest cities ordered residents to undergo mass Covid-19 tests this week, highlighting the risk that fresh outbreaks could trigger new and economically costly lockdowns. Authorities in Tianjin, Continue Reading
CHINA DATA: Key oil product exports slump to 7-year low of 1.58 mil mt in June
China’s gasoil, gasoline and jet fuel exports in June dropped to a seven-year low of 1.58 million mt, or 426,000 b/d, data released by the General Administration of Customs July Continue Reading
Japan hopes to restart four more nuclear reactors by winter
Japan hopes to restart four more nuclear reactors in time to avert any power crunch over the winter, industry minister Koichi Hagiuda said on Friday, a week after the pro-nuclear Continue Reading
China Mortgage Boycott Data Erased by Censors as Crisis Spreads
Bloomberg News China is censoring crowd-sourced documents tallying the number of mortgage boycotts spreading across the country, potentially hampering a key source of data for global investors and researchers tracking Continue Reading
China’s Economic Comeback From Covid-19 Shutdowns Likely to Be Slow and Bumpy
Two years ago, China’s economy bounced back briskly after suffering its worst contraction in decades when authorities locked down the metropolis of Wuhan to keep the coronavirus at bay. China Continue Reading
China Covid Cases Climb in New Risk to Economic Activity
Office workers line up at a Covid-19 testing booth in downtown Shanghai on July 13. China’s daily tally of Covid-19 cases rose to the highest level in more than seven Continue Reading
China’s Property Sector Remains Biggest Drag on Economy
China’s property downturn showed little signs of improvement in the three months through June, with its output contracting for the fourth straight quarter and clouding the growth outlook for the Continue Reading
Most of U.S. Population Now in Areas With High Covid-19 Levels as BA.5 Subvariant Spreads
Los Angeles County may reinstate an indoor mask mandate. More than half the U.S. population lives in counties where Covid-19 cases and hospitalizations are high enough that people should wear Continue Reading
Extreme heat propels more Chinese provinces’ peak power loads to record highs
Highlights Record temperatures logged by 71 national weather stations Power loads in Zhejiang, Jiangxi, Jiangsu hit record highs China’s power consumption to grow 5%-6% in 2022 Extreme heat is sweeping Continue Reading
China Growth Slows Sharply, Putting GDP Target Out of Reach
China’s economy grew at the slowest pace since the country was first hit by the coronavirus outbreak two years ago, making Beijing’s growth target for the year increasingly unattainable as Continue Reading
Japan Utilities Rise as PM Calls for Restarting Nuclear Reactors
Japanese Prime Minister Fumio Kishida’s new push to restart nuclear reactors probably won’t be enough to avert a looming power crunch later this year that will bring new risks of Continue Reading
China Property Market Shudders as Buyers Threaten to Stop Mortgage Payments
Aggregate new home sales at China’s 100 largest developers have fallen every month on a year-on-year basis since last July. Global investors and home buyers in China are losing confidence Continue Reading
China’s Economy Hits a Slump as Covid Policy Takes a Toll
When countries around the world have stumbled in the face of pandemic headwinds, China has often stood apart, seemingly impervious to financial pressures that undermined growth. But now, dragged down Continue Reading
CHINA DATA: H1 crude throughput falls 6% on year to 13.45 mil b/d amid lockdowns
China’s crude throughput fell 6% year on year to 332.22 million mt, or 12.75 million b/d, over January-June, National Bureau of Statistics data showed July 15, as GDP growth in Continue Reading
Heatwaves hammer megacities in China’s Yangtze River basin
Searing heatwaves swept across China’s vast Yangtze River basin on Wednesday, hammering densely populated megacities from Shanghai on the coast to Chengdu deep in the heartlands. More than 90 red Continue Reading
BP aims to start producing green jet fuel in Australia by 2025
BP Plc (BP.L) is aiming to start producing sustainable aviation fuel (SAF) in Australia by 2025 after converting its oil refinery near Perth to produce renewable fuels, a senior executive Continue Reading
Holiday driving, cooling demand prompt China’s independent refineries to boost runs
China’s independent refiners are set to push their runs even higher in July, extending the trend seen in June when throughput rose to five-month highs, as strong driving demand during Continue Reading
World’s Second-Largest LNG Importer Calls On U.S. To Increase Supply
Japan, the world’s second-largest LNG importer, urged the United States and Australia on Tuesday to boost production and deliveries to ensure enough supply of the hottest energy commodity. “ I Continue Reading
China’s surging hydropower a boon for its climate goals, energy bills
A surge in hydropower output in China this year, boosted by record-breaking rainfall, is helping the world’s biggest polluter meet green targets as well as cut liquefied natural gas imports Continue Reading
China’s exports pick up speed, but global risks darken trade outlook
China June export grows at fastest pace in 5 months June import growth slows, misses f’cast Overall export outlook still faces uncertainty Darkening global economic backdrop, Ukraine war add to Continue Reading
China’s Plunging Markets Flash Fresh Warning Signs on Economy
Chinese financial markets are flashing warning signs that another round of Covid shutdowns could create more turmoil for the economy. The Hang Seng China Enterprises Index of stocks has lost Continue Reading
China’s Economy Stumbles in the Fog of Covid War
China’s economic engine has shuddered in recent months, hurt by lockdowns imposed to curb the spread of Covid. Housing sales sagged. Many shops and restaurants in some cities shuttered, some maybe for Continue Reading
Oil Sinks as China’s Covid Resurgence Overshadows Tight Market
: Shanghai reported its first case of the BA.5 sub-variant. Emma O’Brien reports. Bloomberg News Oil declined as the prospect of more demand-sapping virus restrictions in China overshadowed signs of Continue Reading