Russell: The seaborne thermal coal markets in Asia are shrinking slowly.
In the next few years, the market for seaborne coal thermal is in a slow race as a slight decline in demand competes with?an equally mild decline in supply. The longer-term price outlook will be largely determined by which of the two factors dips slightly faster than the other. In recent years, Asia has dominated the seaborne trade of the coal type most commonly used for generating?electricity.
Spain, Portugal, and Luxembourg press for 2040 EU Renewable Energy Target
In a letter that was seen on Tuesday by, Spain, Portugal, and Luxembourg urged the European Union (EU) to set a target for 2040 to expand renewable energy. This has led to a conflict with other EU nations who want to include nuclear power in the goal. The European Commission has been preparing new EU energy policies that will guide the bloc's strategy for energy after 2030.
California allows the sale of fuels with higher ethanol content to reduce gasoline prices
California Governor Gavin Newsom has signed legislation that allows?the?immediate?sale of a higher ethanol fuel blend. This is to curb the skyrocketing prices at the gas pump in America's biggest auto market. On Saturday, the signing of Senate Bill 795 removed the last regulatory hurdle to the sale of E15 gasoline, a blend of gasoline containing 15% of ethanol.
Sources say that the Mexican president has reprimanded top officials for decreasing Pemex production this summer.
Sources say that President Claudia Sheinbaum, a former energy minister who spent months praising Mexico's "energy sovereignty" by increasing domestic fuel production, reacted this summer to the declining output of state oil company Pemex. Sheinbaum confronted her top energy and finance officials in a tense meeting at the National Palace on July 30. Pemex's?gasoline?
South Korea's electricity demand is set to rise on the back of AI boom, as nation considers expanding nuclear energy
According to the energy minister, South Korea's demand for 'power' in the future will surge due to plans by Samsung Electronics and SK Hynix of expanding production 'and building new AI data centers'. Kim Sung Whan, Minister of Climate, Energy and Environment, said that the AI-driven power requirements?alone? will increase South Korea's power demand by 25-30 gigawatts.
Limits on foreign reactor technology may limit India's nuclear ambitions
Experts say that a new draft framework could dilute India's largest?nuclear?reform in decades, by adding additional approval requirements for foreign reactors. This would force companies to choose domestic technology and imports over the latter, and restrict the flow of new capital and expertise. The draft framework is a follow-up to 'New Delhi's' new nuclear law passed last year.
Fire at Russian chemical gas complex causes three deaths and 150 injuries
The plant's press office reported that three people died and?150 were injured after a fire broke out at a complex of gas chemicals under construction in Russia’s Far East on Tuesday. Two Chinese and one Russian were among the dead, while 24 of the injured were hospitalized. The complex, which is one of the largest polyethylene and polypropylene producers in the world…
China's coal production in July falls to levels seen during the pandemic era after a deadly accident
China's coal production in July fell to levels seen during the pandemic, according to data released by the statistics bureau on Monday. The drop was due to a heightened safety check after a fatal mining accident. The National Bureau of Statistics reported on Monday that the coal production in China, which is the world's biggest producer, dropped 10.1% in July from the previous year to 343.21 millions metric tons.
US offers 81 million acres of Gulf of Mexico oil leases
The Trump Administration will on Wednesday offer oil and gas drilling companies more than 81 million acres (32,8 million hectares), in the Gulf of Mexico. This is part of a plan to boost domestic energy production by establishing regular offshore lease sales. This is the second sale since the U.S. and Israeli war against Iran disrupted global oil flows, sending oil prices to four year highs.
As El Nino threatens, hydropower plants in the south of Brazil prepare for heavy rainfall
Generators are reviewing their plans to deal with large volumes of water. Scientists believe that a severe El Nino will occur in the next few months. The Brazilian units of China Three Gorges and French Engie, two of the largest dam operators in Brazil, have said that they are preparing for a number of things, including spillway testing to ensure that dams operate safely…
French and Benelux stocks - Factors to watch on Friday, July 31
Here are some company news and stories that could have an impact on markets in France and Benelux or individual stocks. Credit Agricole, a French bank, posted better-than expected second-quarter earnings?Friday. This was due to growth in its retail, asset-management and investment banking businesses. The net income attributable shareholders increased 1.4% on a yearly basis to EUR2.05billion ($2.36billion)…
Technip Energies falls as Mideast strike forces margin cuts for project delivery unit
Technip Energies, a French engineering company, cut its '2026 margin forecast for its Project Delivery Division on Thursday as Middle East disruptions and provisions drove quarterly core earnings far below market expectations. This sent its shares plummeting more than 15%. The adjusted recurring earnings prior to interest, taxes and depreciation fell 60%…
Technip Energys reduces margin outlook as Middle East hits deepens
Technip Energies, a French engineering and technology firm, cut its 2026 outlook on Thursday due to disruptions at Middle Eastern projects. These disruptions - along with related provisions - drove the second quarter core earnings below expectations. This was despite record orders. The adjusted recurring earnings, before interest, taxes…
The Australian oil refinery's re-orientation will have to overcome several obstacles
The proposal by Australia to build its first oil refinery for 60 years is hampered by a lack of crude supplies, an uncertain fuel demand in the future, and a builder who has little experience refining. The Prime Minister Anthony Albanese, and the Resources Minister Madeleine King announced a pre-feasibility study worth A$4,000,000 ($2.8million) for a new refinery that will be built by Perdaman.
Russell: The imports of thermal coal from Asia continue to rise, except in India
Asia increased thermal coal imports for the third consecutive month in July as major buyers like China, Japan and South Korea purchased more fuel to meet 'peak summer demand. According to Kpler, commodity analysts, Asia is expected to import about 73.16 millions metric tons of seaborne thermal coal in July. This is up from 70.31 in June, and above the 71.04 in July of last year.
Russell: The imports of thermal coal from Asia continue to rise, except in India
Asia increased thermal coal imports for the third consecutive month in July as major buyers like China, Japan and South Korea purchased more fuel to meet the 'peak summer demand. According to Kpler, commodity analysts, Asia is expected to import about 73.16 millions metric tons of seaborne thermal coal in July. This is up from 70.31 in June, and above the 71.04 in July last year.
Union urges investors and BP to put pressure on BP to end US Midwest refinery locksout
The union representing 800 workers at BP Whiting, Indiana refinery urged investors to put pressure on the British 'oil major, BP, to end a four-month lockout. They argued that the dispute highlights broader governance and safety risks within the company. United Steelworkers cited BP's executive rotation and past safety incidents as concerns. "... "...
Pollution from Musk’s unpermitted xAI project is worst in Black Communities
Elon Musk's artificial-intelligence company xAI installed 59 natural-gas turbines in Tennessee for its Colossus 2 project without obtaining federal clean air permits. This was according to communication between regulators, xAI representatives and the EPA. The potential emissions from these turbines would exceed the federal threshold for a permit and would be released in predominantly Black communities…
Vietnam plans to build more coal-fired power plants, as the Iran War complicates LNG plans
The government of Vietnam said that it is looking at building more coal-fired power plants to meet its energy needs. This comes as the 'Iran war' complicates the?slow growth of LNG facilities. Southeast Asia's manufacturing hub seeks to increase its power generation capacity in order to support the fast-growing economy. It is focusing on renewables, LNG and other sources of energy.
Sources say that the US is working on a ban against Chinese energy inverters.
Five?people familiar with the situation' say that the Trump administration is working on a ban of imports of foreign inverters which connect solar panels and batteries to the power grid. They are concerned China may use them to disrupt the supply of electricity. Sources say that the rule?being drafted? by the U.S. Federal Communications…