China import surge increases seaborne thermal coal price: Russell
The price recovery is due to a rebound in China's seaborne thermal coal imports, but this boost will only last a short time as the recent surge in coal-fired power generation has slowed. According to commodity analysts Kpler, China is the world's largest coal producer and consumer. It is expected to import 27,41 million metric tonnes of seaborne thermal coke in September.
China import surge increases seaborne thermal coal price: Russell
The price recovery is due to a rebound in China's seaborne thermal coal imports, but this boost will only last a short time as the recent surge in coal-fired power generation has slowed. According to commodity analysts Kpler, China is the world's largest coal producer and consumer. It is expected to import 27,41 million metric tonnes of seaborne thermal coke in September.
German gas storage is at 75%, but operators are keeping an eye on the winter supply
The German gas storage capacity has been filled to the minimum level required by the European Union for November 1 but INES, a national operator's group, says that it will continue to closely monitor supply security because there are still risks. INES stated on Tuesday that the requirement of 81% storage capacity by November 1 has been met.
The IEA reports that the decline rates of global oil and gas fields are increasing.
International Energy Agency reported on Tuesday that the natural rate of decline for oil and gas production is increasing, due to a greater reliance on deep-ocean and shale resources. The International Energy Agency said on Tuesday that companies would need to increase their investment pace to maintain the same output. In a press release…
What is the Abraham Accords?
The Abraham Accords which normalised diplomatic ties between Israel and certain Arab states are in the spotlight following Israel's airstrikes against Hamas that took place on 9 September, angering the U.S. ally who hosted ceasefire negotiations. The leaders of Arab and Islamic countries will meet in Qatar for a summit on Monday, to show their solidarity. Who signed them and what did they achieve?
China's coal production fell 3% in August due to production curbs
China's coal production fell by 3% in August compared to the same month last year, according to data released on Monday by the statistics bureau. Production restrictions continued. The output was 390.5 million metric tonnes, down from the previous year but up from the 380.99 millions tons in July, which was a low for a whole month. China…
Trump is "very disappointed" with Putin about Ukraine
Donald Trump, the U.S. president, said he was "very dissatisfied" with Russian President Vladimir Putin on Tuesday. He added that his administration planned to take certain actions to reduce deaths in Russia's conflict in Ukraine. The Republican leader said that he is not worried about the warm relations between Russia and China. Trump…
EDF will make 6 GW hydropower available as part of a French agreement with EU
The Prime Minister's Office announced on Thursday that EDF, the French state-owned utility, will offer 6 gigawatts in hydroelectric power to third parties as part of an agreement with the European Commission. The office of Prime Minister Francois bayrou said that this virtual capacity would be sold under the supervision and through competitive auctions by the Energy Regulatory Commission.
US Vice President Vance: Russia has made significant concessions to Ukraine peace deal
JD Vance, the U.S. vice president, said that Russia had made "significant concessions," toward a negotiated resolution in its war against Ukraine. He was confident of progress despite the absence of clear signs that the conflict was nearing an ending. Vance, speaking on NBC’s “Meet the Press With Kristen Welker”, said that Russian President Vladimir Putin had made several concessions.
US Vice President Vance: Russia has made significant concessions to Ukraine peace deal
JD Vance, the U.S. vice president, said that Russia had made "significant concessions", towards a negotiated resolution in its war against Ukraine. He was confident that progress was being made even though there were no clear advancements towards the end of the conflict. Vance, speaking on NBC’s “Meet the Press With Kristen Welker”, said that Russian President Vladimir Putin had made several concessions.
Indiana's BP Refinery restarts following severe flooding
IIR, a monitor of the industry, said that BP's Whiting refinery, which produces 440,000 barrels per day, is in the process to restart after flooding disrupted operations earlier in the week. The units will take several days for them to ramp up, IIR added. IIR stated that the facility will be running at full capacity by early next week.
Norway provides $100 million for the purchase of natural gas by Ukraine
The Norwegian government announced on Friday that it would donate 1 billion crowns (98.29 millions dollars) to Ukraine in order to purchase natural gas before winter. After Russian missiles damaged the production facilities to the east of Ukraine, Ukraine was forced to increase its gas imports. Analysts claim that Ukrainian gas reserves have dropped to their lowest level in 12 years.
Mozambique’s illegal miners make money but the land suffers
Farmers say mining activities pollute rivers, soil and water. The risks may be high, but for barefoot miners in Mozambique’s Manica Province, they are well worth it. Manica, which borders Zimbabwe on the west, is a magnet for men desperate to find gold or precious stones. They use picks and shovels to dig. Fernando Massada is one of hundreds of men who are mining in the Mucurumadze area.
India will allow private companies to mine uranium and import it to aid nuclear expansion
Two government sources have confirmed that India wants to allow private companies to mine, import, and process uranium. This is part of a plan to end the decades-old monopoly of the state over the nuclear industry and to bring in billions to boost the sector. The government of Prime Minister Narendra Modi plans to increase nuclear power production by 12 times before 2047.
DTE Energy's weak energy and gas trading revenue causes it to miss its second-quarter profit estimate
DTE Energy, a U.S. utility company, missed Wall Street expectations for its second-quarter profits on Tuesday due to lower income in the gas and energy trading segments. Natural gas prices fell 16.1% during the June 30 quarter, resulting in a 22.5% drop in profit at the energy trading segment. The quarterly profit of its gas unit fell by 50% to $6 Million due to higher operating, maintenance, and rate base costs.
Chevron warns Hess employees to keep safety in mind while they wait for job updates
Two Hess workers who spoke to us said that Chevron leaders had told them to focus on safe operations, and they would hear from the company next week whether they'll still have jobs after the acquisition. Chevron closed the $55 billion purchase of Hess, the second largest U.S. producer of oil, on Friday, after winning a landmark court battle against Exxon Mobil, which had delayed the closing for over a year.
Why China's neighbors are concerned about China's new mega-dam project
China has begun construction on the $170 billion project it claims will be the largest hydropower plant in the world. The project is estimated to cost $170 billion and generate enough electricity per year to power Britain. After Premier Li?Qiang announced the scheme on the weekend, Chinese construction and engineering shares surged. The project will bring clean energy, jobs, and a boost to a slowing Chinese economy.
French farm bill sparks record-breaking petition signatures
The petition, which was against a French Farm Bill that relaxed environmental regulations for farming and included the use of pesticides accused of harming honeybees, set a new record in terms of signatures. This increased pressure on the French government to review the law. The petition, launched by a student aged 23 this month, is a…
Diplomats claim that the EU has again failed to approve new sanctions against Russia
Four EU diplomats said that the European Union had failed to approve new sanctions against Russia for the second time on Wednesday, as Slovakia sought concessions regarding gas supplies. Diplomats who were present at the meeting said that Slovakia had vetoed approval of the sanction during the meeting. Malta was also mentioned by two diplomats.
In administration is the parent company of Prax, which owns UK's Lindsey refinery.
Teneo Management Consulting said that State Oil Limited (parent company of Lindsey Oil Refinery) has been placed under administration and insolvency proceedings by the British High Court. State Oil is owned by Prax Group, which also owns the Lindsey Refinery. Teneo announced on Monday that it has been appointed administrator of State Oil.