Highlights On track to completely phase out Russian oil purchases Refiners maintain high runs to help ease Asia’s diesel shortages South Korea to mainly rely on US, Middle Eastern crude Continue Reading
Highlights May manufacturing production index lower on year Steel demand in vehicle industry continues improving in June Demand from home appliance, construction sectors remains poor China’s manufacturing production index for Continue Reading
U.S. President Joe Biden is considering scrapping tariffs on a range of Chinese goods to curb inflation, but no decision is likely before next week’s Group of Seven summit, people Continue Reading
Australia’s biggest building materials manufacturers are cutting back operations, hiking prices and considering moving production offshore to manage a spike in power and gas bills, adding to pressure on the Continue Reading
China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on Continue Reading
Power consumption surged in large Chinese provinces north of the Yangtze river amid warmer-than-normal weather, with regions like Henan, China’s third-most populous province, challenged by record electricity demand. The maximum Continue Reading
North Korea has dispatched medical crews and epidemiological investigators to a province battling the outbreak of an intestinal disease, state media reported on Sunday. At least 800 families suffering from Continue Reading
A fire that ripped through a New South Wales power station on the weekend will not affect electricity supply, the Australian Energy Market Operator (AEMO) said on Sunday, ruling out Continue Reading
Chinese state-owned energy companies are negotiating investments in the expansion of Qatar’s North Field and are ready to close long-term supply contracts, Reuters has reported , citing unnamed sources. The Continue Reading
China’s May gasoline exports fell 45.5% from a year earlier and diesel exports plunged 92.7% despite stalling domestic demand, as companies ran short of export quotas, Chinese customs data showed Continue Reading
Residents queue for a Covid-19 test in the Hongkou district of Shanghai, China, on June 11. Bloomberg News China’s biggest cities are doubling down on Covid-19 testing in a bid Continue Reading
Chinese refining rates have dropped significantly since last May despite soaring fuel prices in the region. Officially, China is limiting the export quotas to discourage refiners from producing excessive amounts Continue Reading
Highlights Traders see new China export quotas just drop in bucket China to focus on exporting more gasoline than gasoil China unlikely to inject more jet fuel supplies into Asia Continue Reading
European countries are experiencing a surge in Covid-19 hospitalisations driven by sub-variants of the highly infectious Omicron strain, threatening a fresh global wave of the disease as immunity levels wane Continue Reading
Australia, the world’s top exporter of coal and liquefied natural gas, is battling a power crunch, posing major challenges for the country’s new Labor government that wants to speed up Continue Reading
Sydney residents were urged on Thursday to conserve power in the evening as much as possible to avert blackouts, one day after Australia suspended its spot electricity market due to Continue Reading
South Korea will expand the role of nuclear energy in order to meet its climate target. President Yoon Suk Yeol’s new government will increase the portion of atomic power in Continue Reading
China, India importing 1 mil b/d more Russian crude Urals trading at almost $40/b discount to Dated Brent EU looks to US, Norway, Egypt to fill crude supply gap Russian Continue Reading
Indonesia is facing an uphill battle in its push to transition away from coal. As the world’s top coal exporter, kicking the fossil fuel will potentially cost billions. Further complicating Continue Reading
Western Australia plans to switch off its coal-fired generators by 2030 and invest A$3.8 billion ($2.63 billion) in renewables, citing an “overwhelming uptake” in rooftop solar as driving the move. Continue Reading
China has reduced air pollution nearly as much in seven years as the US did in three decades, helping to bring down average global smog levels in the process. The Continue Reading
China claims to have set two world records in deep-sea energy exploration this weekend. The country has been working hard to ensure its energy security by developing its own oil Continue Reading
Feedstock consumption at Shandong’s independent refineries rebounded to a four-month high of 8.18 million mt, or 1.93 million b/d, in May amid restarts from maintenances, with the level expected to Continue Reading
The measure is part of broader legislation to bolster U.S. competitiveness with China. Congress is pressing ahead with legislation that could rewrite the rules for American companies investing abroad, proposing Continue Reading
Saudi Arabia will provide some Chinese buyers with less crude than they asked for next month, while fulfilling requests from many other customers in Asia after OPEC+ pledged to speed Continue Reading
India and other Asian nations are becoming an increasingly vital source of oil revenues for Moscow despite strong pressure from the U.S. not to increase their purchases, as the European Continue Reading
Outages at coal-fired power plants, coupled with a cold-weather snap, have caused supply problems. Residents in Australia’s Queensland state faced the risk of blackouts on Monday night as the nation’s Continue Reading
David Fong made his way from a poor village in central China to the southern boomtown of Shenzhen as a young man in 1997. Over the next 25 years he Continue Reading
China’s capital Beijing is experiencing an “explosive” COVID-19 outbreak connected to a bar, a government spokesman said on Saturday, as the commercial hub, Shanghai,conducted mass testing to contain a jump Continue Reading
Saudi Arabia will ship lower-than-nominated crude oil volumes to some of its Chinese buyers next month. Many buyers in Asia have asked for more Saudi crude oil for July. This Continue Reading
Beijing and Shanghai both resumed mass testing for Covid-19 as new community outbreaks of the virus emerged just days after the two key Chinese cities eased social curbs that had Continue Reading
US defence secretary Lloyd Austin accused China of stepping up coercive behaviour towards Taiwan as he stressed that Washington would maintain its military capacity to resist any force that threatened Continue Reading
More than half of Shanghai’s 25 million residents will undergo Covid-19 testing this weekend, raising the prospect of extended periods of home confinement for any who test positive, a rude Continue Reading
China is building hundreds of thousands of permanent coronavirus testing facilities and expanding quarantine centres across many of its biggest cities as part of its zero-Covid policy, despite the economic Continue Reading
Oil prices gave up early gains on Thursday after parts of Shanghai imposed new COVID-19 lockdown measures, outweighing news of China’s stronger-than-expected exports in May. Brent crude futures for August Continue Reading
May crude oil imports around 10.79 mln bpd, up 11.8% on yr Jan-May crude oil imports down 1.7% yr/yr May refined oil product exports down 40% yr/yr Jan-May natural gas Continue Reading
Thousands of Tesla Inc. workers in Shanghai will be able to return to their homes from Friday, exiting a factory bubble set up to maintain operations during the city’s recent Continue Reading
China’s appetite for many of its key commodities remained subdued in May as a cocktail of surging international prices and domestic virus restrictions, including the city-wide shutdown of Shanghai, sapped Continue Reading
Chinese exports to the rest of the world surged in May as Covid-19 restrictions eased, adding to signs of recovery in the world’s second-largest economy after months of punishing pandemic Continue Reading
Tough restrictions in scores of cities have driven the country to the edge of recession for just the second time in three decades. But even though measures have been eased Continue Reading
China’s crude oil imports in May extended the continuous monthly recovery and gained 3.1% from April to 10.84 million b/d, data from the General Administration of Customs showed June 9. Continue Reading
Thousands of truck drivers in South Korea have gone on strike at some ports and container depots in the country, threatening to slow the export of goods from the Asian Continue Reading
Western Gas said on Monday its Sasanof-1 exploration well off Western Australia found no hydrocarbons, in a big disappointment for one of the most closely watched drilling campaigns in Australia Continue Reading
Australia, one of the world’s largest wheat exporters, is forecast to produce another huge harvest this season as favorable conditions encourage growers to ramp up planting of winter crops to Continue Reading
China has issued 4.5 million tonnes of quotas for refined fuel exports, sources told Reuters on Tuesday, a top-up to the first issue for 2022 to ease high domestic inventories Continue Reading
Officials in a Chinese city on the border with North Korea say they can’t figure out where persistent new Covid-19 infections are coming from — and suspect the wind blowing Continue Reading
China has devised a new incentive to boost elderly vaccinations to levels that could finally allow the country to relax its zero-Covid strategy and revive the economy: insurance packages for Continue Reading
Dreams are unrealistic, impractical, demanding – but absolutely essential to living a rich and fulfilling life, Ralph Marston once said. But what if a dream is too good to be Continue Reading
China’s independent refining sector’s feedstock imports in May tumbled to a 34-month low as the prolonged lockdown in major cities capped crude buying. Inflows could improve in June as COVID-19 Continue Reading
Since Monday, the national average for a gallon of regular gasoline has increased by nine cents to $4.71. According to new data from the Energy Information Administration (EIA), total domestic Continue Reading
