Tag Archives: Bloomberg News Agency

China-based solar sector supplier GCL Technology Holdings Ltd. is in advanced talks with Saudi Arabia about opening its first overseas factory as the nations aim to extend their energy ties beyond oil. The world’s second-largest manufacturer of polysilicon, a key ingredient in solar panels, is looking to build a plant …

A couple of weeks ago, the International Energy Agency reported that global oil demand reached an all-time high of 103mn barrels a day in June. According to the global energy watchdog, robust demand was driven by better than expected economic growth in OECD countries, surging oil consumption in China, particularly …

Sinopec’s first-half profits shrank amid lower oil prices and fuel demand being weighed down by China’s sluggish economic recovery. China Petroleum & Chemical Corp., as it’s officially known, posted net income of 36.12 billion yuan ($4.96 billion), according to international financial reporting standards. That compared with a revised 44.8 billion …

Oil fell for a third day as a hastening downturn in the euro area added to wider worries about economic growth in top importer China. West Texas Intermediate futures for October fell toward US$79 a barrel. The contraction in euro-area private sector activity intensified in August, while manufacturing remained in …

European natural gas prices jumped as workers serving a key export project in Australia prepare for a strike that could put a significant dent in global supplies in the run-up to winter. Disruptions in Australia risk impacting 10% of global liquefied natural gas exports, a prospect that has kept European …

European natural gas futures headed for a third weekly gain as concerns over potential strikes in Australia inject renewed volatility into the market. The possibility of walkouts at three liquefied natural gas facilities operated by Chevron Corp. and Woodside Energy Group Ltd. has taken center stage in recent days, as …

Wheat extended gains after Ukraine used sea drones to cripple a Russian oil tanker and a naval vessel, threatening a key export route for Russian commodities through the Black Sea. Top wheat shipper Russia moves most of its grain through the waterway and is in the midst of a second …

BP Plc raised its dividend by 10% and said it would buy back another $1.5 billion of shares, even as its second-quarter profit fell by more than expected amid weaker oil and gas prices. The results follow the pattern set by Big Oil peers Shell Plc, TotalEnergies SE, ExxonMobil Corp. …

In Stoke-on-Trent, three hours north of London, traditional English potteries were among the businesses hit hard by soaring energy prices last year. Scrambling to protect their key industries, Britain and other parts of Europe quickly devised plans to keep energy-intensive manufacturers afloat, and pledged to push harder to develop alternatives …

India’s imports of Russian oil dropped for a second month and are expected to slip even further as the key OPEC+ producer starts trimming exports in August to help balance the global market. Daily volumes fell to 2.09 million barrels last month, down from 2.11 million barrels a day in …