It takes a lot to shake confidence in Reliance Industries Ltd, 500325 0.80%▲ India’s most valuable company. An unprecedented windfall tax on fuel exports, which pushed the stock down by as much as 9% on Continue Reading
India’s windfall tax on oil companies and refiners, introduced last week, could stay for a very long time, as the government plans to withdraw it only when oil prices drop Continue Reading
Hundreds of homes have been inundated in and around Australia’s largest city in a flood emergency that was causing trouble for 50,000 people, officials said Tuesday. Emergency response teams made Continue Reading
South Korea’s newly-elected president Yoon Suk-yeol unveiled his new energy plan July 5 focused on reducing the country’s reliance on fossil fuels and increasing oil and LNG stockpiles with a Continue Reading
:Yellen and Chinese Vice Premier Liu discussed US economic sanctions and tariffs. Bruce Einhorn reports. Bloomberg News Senior US and Chinese officials discussed US economic sanctions and tariffs Tuesday amid Continue Reading
The Pakistani government has asked its refineries to provide feedback on importing attractively-priced Russian crude in an effort to soften the blow from a ballooning import bill, joining a list Continue Reading
Sri Lanka’s energy minister has issued a stark warning over the country’s fuel stocks as it faces its worst economic crisis in more than 70 years. On Sunday, Kanchana Wijesekera Continue Reading
Highlights Output cut of around 20 million-30 million mt expected Annual steel demand may drop faster than supply China is likely to announce a 20 million-30 million mt, or 2-3% Continue Reading
WASHINGTON—by competing policy aims: addressing inflation and maintaining economic pressure on Beijing. People familiar with the situation say what comes next has been pending with Mr. Biden in recent weeks Continue Reading
Pakistan’s headline inflation accelerated in June amid higher food and fuel costs even as the nation closes in on a International Monetary Fund bailout. Consumer prices rose 21.32% last month Continue Reading
Oil barrels and a metro train in Faridabad, India. Watch out Iraq and Saudi Arabia, Russia is making huge inroads into the Indian oil market and has quite possibly become Continue Reading
India’s diesel exports in May posted a growth of 15.2% compared with the previous month and are set to rise further, as the arrival of monsoon rains is expected to Continue Reading
Japan’s electricity grid creaked on Thursday under the strain of Tokyo’s hottest June since records began, but a power crunch that could have deprived tens of millions of electricity was Continue Reading
It’s official: Chinese equities are once again in vogue, after months of regulatory crackdowns, deleveraging and stringent virus curbs wiped trillions of dollars off benchmark gauges. A Bloomberg survey of Continue Reading
Australia’s biggest grid has released a multibillion-dollar plan to ease its transition away from coal and avoid pitfalls that earlier this month led to the unprecedented step of temporarily taking Continue Reading
People walk past a China Energy coal-fired power plant in Shenyang, Liaoning province, China September 29, 2021. REUTERS/Tingshu Wang SHANGHAI, June 29 (Reuters) – China will reduce its industrial energy Continue Reading
Bloomberg News Travelers wanting to get into China will still need to contend with the intricate web of testing and bureaucratic requirements that underpin Covid Zero, tempering optimism that its Continue Reading
Russia’s invasion of Ukraine has driven up food prices around the world, but the situation is less grim in Asia. Thank rice. Following successive bumper crops, rice has emerged as Continue Reading
Sri Lankan citizens were put on a virtual lockdown amid a crippling sovereign debt crisis that’s left the South Asian nation with no fresh fuel supplies. The island nation’s cabinet Continue Reading
Authorities in northeastern India are airdropping water packets, sending kerosene supplies and racing to restore power after heavy rains drowned the city of Silchar, in the state of Assam. It’s Continue Reading
President Joe Biden and G7 leaders are ramping up efforts to counter China’s Belt and Road initiative. The leaders have pledged $600 billion to a new global infrastructure project for Continue Reading
Power consumption in several Chinese regions rose to record highs over the weekend, as persisting heatwaves spurred the use of air conditioners to help people cool off. Monitoring data from Continue Reading
India’s flood-hit areas are forecast to receive heavy rains this week, with 532 people losing their lives so far across the nation during the monsoon season and hundreds of thousands Continue Reading
WATCH: China’s economy showed some improvement although there are still a lot of questions about the recovery. Enda Curran reports. Bloomberg News Sign up for the New Economy Daily newsletter, Continue Reading
Japan is asking Tokyo residents to conserve power, with unusually hot weather stretching the city’s grid as fears increase that the heat could last for longer. Electricity supply in the Continue Reading
For decades, China’s expanding middle class had but one option to get ahead:neijuan, or joining the rat race of relentless competition. Then, a surprising strain of resistance sprouted among the Continue Reading
Leaders of the G7, including US President Joe Biden (L) and UK Prime Minister Boris Johnson (R), proposed a plan geared towards competing with China’s Belt and Road Initiative G7 Continue Reading
Chinese imports of LNG from the U.S. plunged by 95% between February and April. Most U.S. LNG spot cargoes were headed to Europe at the beginning of 2022. Russia could Continue Reading
Asia-Pacific economies are facing an energy crisis that threatens to worsen in coming months and reach historic proportions if the Russia-Ukraine war continues. The magnitude of the crisis varies in Continue Reading
China’s capital city is offering subsidies for purchases of new-energy vehicles to replace old cars, the latest attempt by local authorities to boost consumption in a slowing economy. The financial Continue Reading
India’s intake of Russian crude oil has soared 50-fold since April and, to date, makes up a tenth of the subcontinent’s imported oil, the Economic Times reported today, citing a Continue Reading
Highlights State Grid says northern grids hit peak power loads multiple times High temperature alert issued for 12 provinces and regions Li Keqiang stresses on maximizing coal production A heat Continue Reading
Pakistan is facing an escalation of its power crisis after it failed to agree a deal for natural gas supply next month. State-owned Pakistan LNG Ltd. scrapped a purchase tender Continue Reading
Ant Group headquarters in Hangzhou. Regulators scrapped Ant’s IPO plans in 2020. Photographer: Qilai Shen/Bloomberg On trading floors in New York and Hong Kong, the brightening mood toward Chinese technology Continue Reading
China may bar solar developers from building panels on farmland as the government weighs the importance of food security against its clean energy goals. Three ministries including the National Energy Continue Reading
The 500-mile drive across Guinea to the Simandou mountains takes three days. Videographer: Jason Florio for Bloomberg Green Guinea’s Simandou mountains hold the largest untapped iron-ore deposit on the planet. Continue Reading
Highlights State Grid says northern grids hit peak power loads multiple times High temperature alert issued for 12 provinces and regions Li Keqiang stresses on maximizing coal production A heat Continue Reading
A new battery from Contemporary Amperex Technology Co Ltd promises to resolve one of the chief complaints that drivers have with electric vehicles: battery range. The next-generation Qilin battery—named after Continue Reading
CATL launched Qilin, the third generation of its CTP (cell-to-pack) technology. With a record-breaking volume utilization efficiency of 72% and an energy density of up to 255 Wh/kg, it achieves Continue Reading
Companies in China are cutting back on digital-ad spending as the economy slows and recurring Covid-19 outbreaks weigh on consumption, another sign of waning business confidence in the world’s most Continue Reading
Tensions between Kazakhstan and Russia are reaching a boiling point. Awkward exchanges between leaders highlight weakness in the two countries’ alliance. Russia’s unprovoked war in Ukraine has left Kazakhstan and Continue Reading
The Indian government has asked state oil companies to scoop up huge volumes of cheap crude from Russia, according to industry executives, strengthening commercial ties with the country even as Continue Reading
Turkmenistan is scrambling to diversify its export markets. The problem, however, is that China is the only major customer of Turkmenistan’s natural gas. Other Eurasian countries could emerge as larger Continue Reading
Scientists say that climate change was likely to have made the rains that unleashed catastrophic flooding across Bangladesh worse. While South Asia’s monsoon rains follow natural atmospheric patterns, the rains Continue Reading
For the first time since 1976, the U.S. economy might grow faster this year than China’s economy. China’s “zero-Covid” strategy has had a detrimental impact on the demand recovery for Continue Reading
Beijing’s caution in challenging U.S. supremacy around the globe might be dissipating. Practical ramifications for the global oil sector from China’s geopolitical shift would be enormous. President Xi has signed Continue Reading
Highlights METI requests exception for Sakhalin 1, 2 equity oil liftings No Japanese refiner imports Russian crude currently: PAJ chief Japan’s Ministry of Economy, Trade and Industry has requested the Continue Reading
Russia overtakes Saudi as top supplier after 19-month gap Russian imports nearly 2 mln bpd in May Imports from Malaysia more than doubled in May yr/yr Customs reports 3rd Iranian Continue Reading
China’s gasoil, gasoline and jet fuel exports in May dropped to a four-month low of 1.77 million mt or 465.580 b/d, data released by the General Administration of Customs June Continue Reading
China imported 2.12 million mt of LPG, comprising both propane and butane, in May, up 7.1% month on month, mainly supported by a strong rebound in butane imports due to Continue Reading
