International

In a significant rebound, Russia’s oil and gas revenues for June are projected to increase by over 50% year-on-year, reaching $9.4 billion, according to new Reuters calculations. This surge comes after a reduction in refinery subsidies, highlighting Russia’s resilience in the face of Western sanctions aimed at its energy sector. …

The Lufthansa Group, the biggest airline group in Europe, is introducing a so-called Environmental Cost Surcharge of up to $77.20 (72 euros) per flight to cover part of the costs for using additional volumes of sustainable aviation fuel (SAF), the Germany-based airline said on Tuesday. The surcharge of between $1.07 …

Canada may follow the example of the EU and the U.S., and impose import tariffs on Chinese electric vehicles, Reuters has reported, citing finance minister Chrystia Freeland. “Chinese producers are quite intentionally generating a global oversupply that undermines EV producers around the world, including here in Canada,” Freeland said, adding …

Coal imports into Asia this month are expected to remain strong despite a slight decline in coal demand from China and India—the biggest importers. Japan, the third-biggest, is the only one of the top coal importers in Asia set to see an increase in imports this month. Reuters’ Clyde Russell …

Copper demand continues to surge globally. And as the rest of the world struggles with the rising price of copper and the ever-changing copper market, guess who is sitting pretty? Hint: it’s China. Despite fears of a worldwide copper shortage driving copper prices to new highs, the world’s largest producer …

Eskom, the state-owned utility of South Africa, has received government approval to keep five of its old polluting coal power plants operational for five years after the country implements a limit on plants’ emissions in 2025. Eskom’s five coal-fired power plants – Hendrina, Grootvlei, Arnot, Camden, and Kriel – exceed …

India expects to add as much as 15.4 gigawatts (GW) of new coal-fired power capacity this year, the most in nearly a decade, anonymous sources with knowledge of the matter told Bloomberg on Wednesday. India, the world’s second-largest coal consumer, looks to boost baseload capacity amid surging power demand and …

Europe has been looking for ways to accelerate its rare earth metals production to diversify its supply chain and reduce reliance on China as its main supplier. Several minerals will be crucial for the development of the global renewable energy industry, helping energy companies to produce batteries, solar and wind …

The European Union is proposing to sanction Russia’s oil-shipping giant Sovcomflot PJSC (FLOT.MM) in a move to limit the Kremlin’s ability to finance its war against Ukraine, Bloomberg News reported this week, citing a document seen by it. The move would follow similar punitive measures imposed on the leading Russian …

Since 2008, the shale boom has grown U.S. oil production by about 9 million barrels per day. In the early days of the shale boom, when it wasn’t clear whether this development would have a significant impact, it was largely ignored by OPEC. By late 2014, as U.S. oil production …