The global semiconductor shortage has finally started to bite at Toyota TM -4.09% Motor Corp., highlighting how a resurgence in Covid-19 infections from the Delta variant is now stifling chip manufacturing in Southeast Asia, worsening Continue Reading
A semiconductor supply crunch is forcing world-leading car manufacturers Volkswagen and Toyota to slash vehicle production. Toyota, the world’s largest carmaker, announced it will cut production by 40 percent in Continue Reading
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
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
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
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
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
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
Governments across Central Asia appear as stunned as the rest of the international community in the face of the rapid disintegration of order in neighboring Afghanistan. Some leaders have held Continue Reading
India has begun selling oil from its Strategic Petroleum Reserve (SPR) to state-run refiners as it implements a new policy to commercialize its federal storage by leasing out space, three Continue Reading
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
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
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
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
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 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
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
As apocalyptic wildfires raged in Greece, California and Turkey last week, the latest report from the Intergovernmental Panel on Climate Change (IPCC) offered a sobering assessment of the damage inflicted Continue Reading
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’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
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
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
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 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
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
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
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
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’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
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
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’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
Despite a slowdown in fuel demand due to the Delta variant, Asian refiners have booked more crude oil from the United States for the fourth quarter, taking advantage of the Continue Reading
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
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 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
Expectations are growing that BHP Group Ltd (BHP.AX) (BHPB.L) will deliver a verdict on the future of its petroleum business at its results next week, as it comes under increasing Continue Reading
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 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 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
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
Some Asian refiners have nominated lower than usual volumes of crude oil from Saudi Arabia in September as authorities in China and the rest of Asia have re-imposed restrictions to Continue Reading
India’s biggest automaker has warned that strict European-style emissions rules due to start next year will force up car prices, dealing another blow to an industry that was in a Continue Reading
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
The production of green hydrogen and green ammonia is technically feasible at scale in Australia, but will require a major investment in port, electricity and water services, BP said on Continue Reading
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
China’s crude imports fell 19.6% year on year to 9.75 million b/d in July, General Administration of Customs preliminary data released Aug. 7 showed. Receive daily email alerts, subscriber notes Continue Reading
China’s biggest oil refiner is scaling back operations as Beijing’s aggressive response to the delta virus variant saps demand for road and aviation fuel, according to an analyst. State-owned China Continue Reading
China’s newest oil refiners are thriving by aligning themselves with President Xi Jinping’s vision, expanding even as their older rivals and several other private businesses have been reined in by Continue Reading
China’s worst coronavirus outbreak since the virus first emerged in Wuhan is adding to concerns about the quality of its domestically developed vaccines amid a dearth of data on the Continue Reading
