Yangtze shrinks as China’s drought disrupts industry
Ships crept down the middle of the Yangtze on Friday after China’s driest summer in six decades left one of the mightiest rivers barely half its normal width and set Continue Reading
Stories of Climate Adaptation From a Simmering Subcontinent
Commuters brave a heat wave in Allahabad in India’s Uttar Pradesh state on June 7. Air conditioners in the Himalayas and fans for the cows: How communities in India and Continue Reading
Yangtze tributary runs dry as China faces another month of drought
Residents living near a tributary of the Yangtze river in the southwestern region of Chongqing clambered along the dry riverbed on Thursday amid an unprecedented drought across the region that Continue Reading
Xi Highlights Drought Risk in China as Power Supplies Threatened
An exposed riverbed, due to low water levels caused by drought, along the Jialing River, Aug. 17. Bloomberg News Chinese President Xi Jinping called on local authorities to work to Continue Reading
China’s largest property group Country Garden warns of 70% plunge in profit
The company, in a filing on Thursday, said core profit was between about Rmb4-5bn and Rmb5bn ($6634mn and $736mn) in the first six months of 2022, down from Rmb15.2bn a Continue Reading
China’s Heat Wave Strains Its Economy
Faced with China’s most searing heat wave in six decades, factories in the country’s southwest are being forced to close. A severe drought has shrunk rivers, disrupting the region’s supply Continue Reading
China’s power shortages disrupt nonferrous operations
Highlights Several parts of China face unprecedented heatwaves Authorities order industrial production restrictions amid power crunch Sichuan industry most affected due to power supply issues Authorities in several parts of Continue Reading
Toyota, CATL Shut Plants in Sichuan as Power Crisis Worsens
Toyota Motor Corp. and Contemporary Amperex Technology Co. , the world’s top battery maker, are closing plants in China’s Sichuan province as a drought-induced power crisis worsens. The Japanese automaker Continue Reading
Disappointing Chinese Demand Takes Toll On Oil Prices
Uncertainty about the Iran nuclear deal and disappointing Chinese crude demand and refinery throughput are creating headwinds for crude. Chart of the Week Can the German Economy Fall by the Continue Reading
Kazakhstan’s Kashagan oil field still pumping at reduced rates amid pipe leak probe
Kashagan producing around 100,000 b/d, quarter of normal rate Ruptured pipe sent for checks as corrosion fears resurface Ongoing disruption limiting CPC Blend exports Production at Kazakhstan’s second-highest producing oil Continue Reading
Column: China stockpiled oil in July despite weak imports, refinery runs
China’s refinery processing and crude imports were unambiguously weak in July, but the world’s largest oil importer still added to stockpiles, maintaining a trend of building inventories. China added about Continue Reading
China’s Measures to Boost Economy Don’t Match Past Efforts
For the past two decades, China has conditioned global companies and markets to anticipate big government spending at any hint of an economic slowdown. Now, as growth sputters, Beijing is Continue Reading
Hydropower In China Struggles Amid Worst Heatwave In Decades
The southwestern Chinese province of Sichuan is baking in the worst heatwave in six decades, with hydropower generation from the Yangtze River falling and factories closing to ease the pressure Continue Reading
China races to alleviate drought, power cuts amid record heatwave
China is scrambling to alleviate power shortages and bring more water to the drought-hit basin of the Yangtze river as it battles a record-breaking heatwave by deploying relief funds, seeding Continue Reading
China’s Sichuan limits power to homes, offices amid extreme heat
China’s southwestern province Sichuan began limiting electricity supply to homes, offices and malls on Wednesday, due to a severe power crunch driven by extreme heat waves and drought, according to Continue Reading
China’s Growth Slowed Across All Fronts in July, Prompting Unexpected Rate Cut
China’s economy stumbled in July as a two-month boost from easing lockdowns faded, prompting the country’s central bank to unexpectedly cut two key interest rates in an effort to shore Continue Reading
China to discourage abortions to boost low birth rate
China will discourage abortions and take steps to make fertility treatment more accessible as part of efforts to boost one of the world’s lowest birth rates, its National Health Authority Continue Reading
No China Stimulus Good Enough for Stocks Fixated on Covid Curbs
Delivery drivers pass through a security checkpoint as several city blocks are sealed off due to Covid-19 in the Meilong township of Shanghai, China, on Aug. 15. Photographer: Qilai Shen/Bloomberg Continue Reading
China’s Crude Processing Dips To Lowest Since March 2020
Crude throughput at Chinese refineries slumped in July to the lowest level since the height of the pandemic in March 2020, amid unplanned facility outages and lower processing rates at Continue Reading
Even With Biggest-Ever Climate Bill, US Lags China’s Green Spending
The historic US climate deal that has now passed both chambers of Congress is being touted as one of the most ambitious decarbonization commitments made by any government to date. Continue Reading
China And The West Both Want To Keep Kazakh Oil Flowing
Since the beginning of the war in Ukraine, Russia has cut off oil exports from Kazakhstan through its territory twice. The Chinese government has signaled that it will not tolerate Continue Reading
China to lift Aug fuel exports but 2022 shipments to drop to 7-year lows
Diesel, gasoline, jet fuel shipments to drop 30%-40% from 2021 August exports of diesel to top 1 mln T for first time in a year Full-year fuel export volumes to Continue Reading
Gloomy China Economic Outlook Cools Stocks Rally: Markets Wrap
BlackRock’s Wei Li says equity markets are not “appropriately” pricing in a growth slowdown in the US and Europe. U.S. equity-index futures slipped, stocks were mixed and commodities from oil Continue Reading
‘No One Immune’ Amid China Property Turmoil, JPMorgan Says
Chinese developers may report a 30% year-on-year decline in first-half earnings due this month, which will likely weigh on sentiment, according to JPMorgan Chase & Co. analysts. “No one is Continue Reading
China Growth Slows Across All Fronts in July, Prompting Unexpected Rate Cut
China’s economy stumbled in July as a two-month boost from easing lockdowns faded, prompting the country’s central bank to unexpectedly cut two key interest rates in an effort to shore Continue Reading
The Burgeoning Energy Partnership Between Azerbaijan And The EU
As the European Union continues to pursue new sources of energy to replace Russian oil and gas, it is expanding its energy partnership with Azerbaijan. On the 18th of July, Continue Reading
Kazakhstan To Reroute Oil Flow From Caspian Pipeline
Kazakhstan will re-route some of its export oil to a pipeline in Azerbaijan as the Caspian Pipeline Consortium channel remains at risk of further suspensions, Reuters has reported , citing Continue Reading
Exclusive: Kazakhstan to start oil sales via Azeri pipeline to bypass Russia
Kazakhstan is expected to sell some of its crude oil through Azerbaijan’s biggest oil pipeline from September, as the nation seeks alternatives to a route Russia threatened to shut, three Continue Reading
The Bursting Chinese Housing Bubble Compounds Beijing’s Economic Woes
China’s deflating property bubble is imperiling the world’s second-largest economy with effects that could ripple for years. Home prices are dropping in many cities after a long period of increase, Continue Reading
China Heralds Another Major Oil Discovery
China’s state-run China Petrochemical Group, Sinopec, says it has discovered a massive oilfield in the Tarim Basin, containing 1.7 billion tons of oil reserves. The discovery is the result of Continue Reading
CHINA DATA: Independent refineries boost discounted crudes imports 33% on month in July
China’s independent refineries boosted imports of discounted crudes from Venezuela, Iran, and Russia by 32.8% month on month to 8.3 million mt, or 1.96 million b/d, in July via the Continue Reading
China’s Mounting Risks Set Stage for PBOC to Rein In Stimulus
Bloomberg News China may be ready to curb some of the excess liquidity sloshing in the banking system as it turns its focus to mitigating risks in the financial industry. Continue Reading
Indian companies swapping dollar for Asian currencies to buy Russian coal
India has ramped up imports of Russian coal since Ukraine war June customs data shows non-dollar payments now common Chinese yuan, Emirati dirham trades becoming more popular Banks and traders Continue Reading
The US-China Rift Moves Climate Politics Into an Era of Competition
This month’s biggest climate milestones happened over one weekend. On Sunday, the US Senate approved hundreds of billions of dollars in climate and clean-energy spending. Just two days before, climate Continue Reading
Tesla Faces Crowded Field in China as New-Energy Car Market Booms
China’s homegrown new-energy vehicle makers are booming as demand surges, with sales now forecast to hit a record six million this year in the world’s largest auto market. Warren Buffett-backed Continue Reading
South Korea Suffers Worst Rainfall in Eight Decades
South Korea’s heaviest rainfall since World War II submerged cars on the streets, flooded subway stations and left at least eight people dead. The downpours also hit neighboring North Korea, Continue Reading
China’s suspension of dialogue with US may further delay climate agenda
Highlights Bilateral climate agenda moves from collaboration to competition COP27 outcomes could be impacted Green hydrogen, CCUS, methane reduction likely to be hit China’s suspension of climate dialogue with the Continue Reading
China’s commodity imports mixed with weak crude, improving metals
China’s imports of major commodities presented a mixed picture in July, with crude oil undeniably weak, but some signs of life in industrial metals such as copper and iron ore. Continue Reading
Two Chinese Cities Approve Baidu’s Unmanned Self-Driving Taxis
China took a notable regulatory step in the field of driverless taxis, with two cities giving Baidu Inc. BIDU -1.61%▼ approval to operate ride-hailing services without a driver or a Continue Reading
CHINA DATA: July crude imports rise 1% from June’s 47-month low to 8.8 mil b/d
China’s crude oil imports remained weak, as expected, in July, edging up a mere 0.9% to 8.83 million b/d from the 47-month low in June amid destocking activity and slow Continue Reading
Sanctions Are Making It Difficult For Afghanistan To Pay Its Energy Debts
Afghanistan has struggled to pay its energy debts due to sanctions on the Taliban government. While the country has been able to settle outstanding debts owed to Uzbekistan, it is Continue Reading
China’s exports gain steam but outlook cloudy as global growth cools
China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its struggles to recover from a COVID-induced slump, but weakening global demand could Continue Reading
China Eases Rules for International Covid Flight Suspensions
China shortened the length of suspensions for inbound airline flights that carry passengers infected with Covid-19, the latest sign the nation may be ready to ease virus-control measures for international Continue Reading
China’s Export Growth Stays Unexpectedly Robust, Offsetting Broader Weakness
China’s export machine remained surprisingly resilient in July following a strong bounceback from the spring’s harsh Covid-19 restrictions, defying again predictions of softening global demand for Chinese-made goods. Chinese shipments Continue Reading
Kazakhstan’s 300,000-Bpd Kashagan Oilfield Halts Output
Kazakhstan’s Kashagan field was shut down after a gas leak was detected on Thursday. No people were harmed, and no excessive pollution was detected following the gas leak detected on Continue Reading
China Starts Construction Of $22B Expansion Of Transmission Line Network
China’s largest utility will soon begin the construction of some $22 billion of new long-distance, ultra-high-voltage transmission lines to connect more wind and solar installations to the grid. State Grid Continue Reading
China’s soy crushing rates hit year-to-date low in August as negative margins force run cuts
Soy crushing plants reduce operations amid sharp losses China’s soybean demand projections revised down for August But soybean oil entering stronger demand season in the month The operating rate at Continue Reading
Europe and Asia intensify battle to secure gas supplies
The battle between Asia and Europe to lock in gas supplies is stepping up a gear, heightening the risks of a further surge in prices that would add fresh fuel Continue Reading
Chinese Top Battery Maker Halts N. American Plans After Pelosi Visit To Taiwan
Note: According to Reuters’ sources, CATL is pressing ahead with plans to deliver lower-cost lithium iron batteries to Ford Motor Co. and with plans for battery production in North America Continue Reading
Russia sees largest COVID cases daily increase since April
Russia registered 17,126 new cases of coronavirus in the last 24 hours, the highest daily increase since April 2, the country’s anti-pandemic taskforce said in a statement. The taskforce said Continue Reading