BHP Quits Oil, Piles Into Potash in Overhaul for CEO Henry
BHP Group unveiled the most sweeping change to its business since the world’s biggest miner was created two decades ago, as it plans an escape away from fossil fuels to 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
Indian Fuel Sales Recovery Largely Intact as Delta Ravages Asia
Indian fuel consumption recovery largely held up in the first half of August, a rare positive for oil demand as the delta virus variant led to curbs on movement in Continue Reading
BHP Considers Sale of $15 Billion-Valued Petroleum Business
The world’s biggest mining company is plotting a new future. It wants to focus solely on mining. BHP Group Ltd. said it is considering selling its oil-and-gas business in what 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