Beijing is taking steps to tighten its regulations over China’s coal market amid ongoing concerns over a power shortage and rising factory-gate inflation, reports South China Morning Post. IAC Desk
The deal’s failure underscores a shifting global energy environment, with oil and gas corporations shifting away from fossil fuels and toward renewables. Refining and petrochemical businesses have lost value, particularly after the last COP26 climate conference in Glasgow, according to a second source involved in the negotiations, Trak.in reported. IAC Desk
The COVID-19 pandemic’s impact on maritime trade volumes in 2020 was less severe than initially expected but its knock-on effects will be far-reaching and could transform maritime transport, according to UNCTAD’s Review of Maritime Transport 2021. IAC Desk
The US has finally announced that it will be releasing 50MMbbls of crude oil from its Strategic Petroleum Reserve (SPR) to help lower prices. A handful of other countries have joined the US with this initiative. While releases are clearly bearish in the short term, the big unknown is how OPEC+ will respond, says ING. […]
Inflation has surged in the largest economies of Latin America, prompting large central banks in the region to raise interest rates before economic activity has fully recovered. Soaring food prices are partly driving the surge. They started increasing even before the pandemic and have risen more than 18 percent on average in LA5 countries since January […]
All scenarios that meet climate goals feature a rapid decline in coal use. It is the most carbon-intensive fuel, predominantly used in a sector – electricity generation – where renewable energy options are the most cost-effective new sources in most markets, the International energy Agency (IEA) said. IAC Desk
Despite the increasing macro headwinds and the stock release from China in a bid to tame the market, aluminium prices have remained resilient, and supply disruptions and curbs continue to keep a lid on growth, ING said in a note. IAC Desk
Saudi Arabia slashed the official selling prices (OSPs) for its oil exports to Asia in October more than expected in a move seen as the world’s largest crude exporter trying to keep and boost its market share while Asian fuel demand is recovering from a dip in recent weeks, OilPrice.com reports IAC Desk
As the effects of climate change intensify and paths for limiting global warming narrow, politicians, media and environmental advocates have rallied behind “carbon farming” as a mutually beneficial strategy for society, the environment and farmers, according to theconversation.com. IAC Desk
Battery metal prices recovered strongly in the first half of the year, giving an incentive for new production to come online. China maintained its grip on the battery chemical industry, with the biggest market share for all the five main battery metals, according to Mining Review Africa. IAC Desk
