While the debate about the effectiveness of the Western-led sanctions on Russians continues, China’s imports of Urals-grade Russian crude oil could hit an 11-month high, Reuters said on Monday. China, so far in April, has purchased 265,000 barrels per day of Russian Urals grade crude oil. This is a 36% …
Read More »The World won’t Decarbonise Fast enough unless Renewables make Real Money
Amid the misery of war in Ukraine and the global energy crisis, there is a glimmer of good news. The green transition has speeded up. True, a spike in natural-gas prices fuelled greater demand for coal, the dirtiest of fossil fuels. But it also led consumers to use energy more …
Read More »India and China Snap up Russian Oil in April above Price cap
India and China have snapped up the vast majority of Russian oil so far in April at prices above the Western price cap of $60 per barrel, according to traders and Reuters calculations. That means the Kremlin is enjoying stronger revenues despite the West’s attempts to curb funds for Russia’s …
Read More »Oil Edges up as China’s Economy Gathers Pace
Oil prices firmed slightly early on Tuesday, after falling 2 per cent in the previous session, as stronger economic data from the world’s largest crude importer China underpinned demand outlook. Brent crude climbed 23 cents to $84.99 a barrel at 0416 GMT, while U.S. West Texas Intermediate rose 21 cents …
Read More »China’s Sinopec to Take Stake in Qatar’s North Field East
China’s Sinopec will take a stake in the eastern expansion of Qatar’s North Field liquefied natural gas (LNG) project, state energy company QatarEnergy said on Wednesday. The state-owned Chinese gas giant will take a 5 percent stake in the equivalent of one North Field East LNG train with a capacity …
Read More »China Speeds up Digital, Green Transformation in Coal Industry
Riding on a driverless, rubber-tired vehicle to the coalface at a depth of 150 meters has become part of the daily routine for miners in Shangwan Coal Mine in the city of Ordos, north China’s Inner Mongolia Autonomous Region. Thanks to the digitization of the coal industry, miners no longer …
Read More »China’s Highest Geothermal Power Station Produces over 500 mln kWh of Electricity
China’s highest geothermal power station in terms of elevation, located in southwest China’s Tibet Autonomous Region, has generated more than 500 million kWh of electricity since it was put into operation in 2018. Yangyi geothermal power station in Damxung County, in the regional capital of Lhasa, is China’s only geothermal …
Read More »China’s Top Oil Companies to Invest $14.5 Billion in Renewable Energy
China, the world’s largest emitter of greenhouse gases, has committed to net-zero carbon dioxide emissions by 2060. The move is a significant change in direction for the country, which has heavily relied on coal-fired power plants for much of its energy needs. In response, state-owned energy majors have started ramping …
Read More »China’s Coal Boom is Undermining Global Phase-out Efforts
China is building or planning to build some 366 GW in new coal generation capacity, accounting for some 68% of global planned new coal capacity as of 2022. This is according to a new report by climate think tank Global Energy Monitor, which also found that China accounted for more …
Read More »China and Russia Look to Challenge the Petrodollar
The increasingly closer relations between China and Russia and the Chinese push to make its currency more relevant on the global markets are challenging the dominance of the petrodollar. The U.S. dollar, which has been the currency of choice in oil trade since the 1970s, is still the dominant currency …
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