Oil was up Wednesday morning in Asia, holding gains as the latest U.S. crude oil supply data showed a bigger-than-expected draw. Trading volumes are also thinning out as the holiday period approaches. Brent oil futures edged up 0.18% to $74.11 by 11:13 PM ET (4:13 AM GMT) and WTI futures …
Read More »China, Russia Forge Close Ties in Energy Cooperation under BRI
China’s oil giant Sinopec on Tuesday released a report about the company’s participation and growth in Russia which deepens ties with China on energy cooperation, a key sector following global energy crunch in tandem with climate change crisis. The report focuses on sustainable development of Sinopec in Russia and its …
Read More »India Overstretches in Trying to Counter China’s Solar Industry
India’s leading renewable energy developer, ReNew Energy Global PLC, has reportedly planned to switch its strategy, from growth based on China’s raw material supply to seek independent development, which has been viewed as India’s move to “counter China” in the sector. Until recently, ReNew Energy and other Indian renewable energy …
Read More »Coal Use is Reaching Record Levels in India and China
The International Energy Agency has called on China and India to reduce coal power generation and put their climate pledges into action, describing both countries as “holding the key to future coal demand”. The world’s two largest coal producers – with economies that account for nearly three billion people combined …
Read More »Covid-Zero Policies and Pollution Curbs Stunt China’s Oil Demand
China, the world’s biggest buyer of crude, is set to start 2022 with a subdued appetite for oil. For that, you can blame — or thank — Beijing’s increasingly tough line on the virus, pollution, and rule-breakers. The winter months are usually the time when refiners buy crude to replenish …
Read More »Japan’s Automakers Look to Catch up as China Market Adopts New Energy Vehicles
Japanese automakers are looking for ways to catch up with European and U.S. competitors in China, which has grown to become the world’s largest car market. Around 2 million vehicles were sold in China in 2000, before the country joined the World Trade Organization. Sales have since grown over tenfold …
Read More »China Presents Plan to Reduce Heavy Metal Emissions by 5% by 2025
Chinese authorities recently presented a draft plan to reduce heavy metal emissions by 5% by 2025. As noted previously here, the move comes after Beijing moved to stabilize surging coal prices. The government moved to increase both coal imports and domestic output. The Dalian coking coal price surged to $694 …
Read More »China to Ease Energy Use Curbs to Relieve Economic Pressures
China will loosen blanket restrictions on energy consumption in order to ensure environmental and climate targets do not erode future economic growth, according to a policy document issued after an agenda-setting meeting of the country’s top leaders. The country will also move towards capping carbon dioxide emissions from overall energy …
Read More »China to Dominate New Petrochemicals Projects in Asia through 2025
China is likely to commence the operations of 412 petrochemicals projects between 2021 and 2025, accounting for about 50% of the total upcoming petrochemicals project starts in Asia by 2025, according to GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘Global Petrochemicals New-Build and Expansion Projects Outlook, 2021-2025’ …
Read More »QatarEnergy in 10-Year LNG Supply Deal with China Group
QatarEnergy said that its LNG producing affiliate, Ras Laffan Liquefied Natural Gas Company, has entered into a long-term Sale and Purchase Agreement (SPA) with China’s Guangdong Energy Group Natural Gas Company. The SPA is for the supply of one million tons per annum of LNG to China over a 10-year …
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