Article content (Bloomberg) — Oil advanced as geopolitical tensions ratcheted higher in the Middle East, with prices poised for a second straight weekly gain. Global benchmark Brent rose above $93 a barrel, while West Texas Intermediate neared $91. The US is seeing stepped-up drone attacks in Iraq and Syria, the Pentagon said, while an American […]
Article content (Bloomberg) — Rio Tinto Group is preparing for trials of battery-powered locomotives in Australia, where it uses giant autonomous trains — the world’s largest and longest robots — to transport iron ore across the vast Outback. Converting its 2.5-kilometer (1.6-mile) long trains to electric would help trim the producer’s use of diesel, a […]
Breadcrumb Trail Links PMN Business India is rejecting pressure from Russian oil suppliers to pay for crude imports in the Chinese currency as tensions between New Delhi and Beijing continue to simmer. Author of the article: Bloomberg News Anup Roy, Sudhi Ranjan Sen and Rakesh Sharma Published Oct 19, 2023 • 3 minute read Join […]
Breadcrumb Trail Links PMN Business Delegates from developing nations are leaving meetings in China this week with grand promises of aid for green energy projects, though there are few concrete projects so far. Author of the article: Bloomberg News Bloomberg News Published Oct 19, 2023 • 3 minute read Join the conversation Xi Jinping during […]
Article content (Bloomberg) — The rollback of American sanctions on Venezuelan oil could rob Chinese buyers of one of their cheapest sources of crude. Venezuela’s Merey crude is currently being delivered to China at a discount of as much as $20 a barrel compared to Brent, according to traders. That’s cheaper than sanctioned Iranian oil, […]
Breadcrumb Trail Links PMN Business Asia is emerging as the key catalyst for growth in carbon trading, though the region’s markets currently cover only a fraction of emissions that account for half the world’s total. Author of the article: Bloomberg News Heesu Lee Published Oct 19, 2023 • Last updated 30 minutes ago • 4 minute […]
Article content (Bloomberg) — Russia doesn’t currently have plans to ease remaining restrictions on diesel exports, according to Deputy Prime Minister Alexander Novak, indicating that there won’t be additional relief for the tight fuel market. “There are no decisions yet,” Novak told Bloomberg News in Beijing. “But if there are any problems, they will be […]
Breadcrumb Trail Links PMN Business China’s environment ministry is asking large industrial polluters to tighten up their emissions reporting, as it adopts the procedures necessary to expand its national carbon market and prepare Chinese industry for the European Union’s carbon tax. Author of the article: Bloomberg News Bloomberg News Published Oct 18, 2023 • 3 […]
Article content (Bloomberg) — China’s regulator has asked its biggest state-owned natural gas suppliers to fill up storage facilities heading into the peak winter heating season, underscoring risks from rising geopolitical tensions to the nation’s energy security. The National Energy Administration said China’s demand for gas is increasing and, while the domestic market is “generally […]
Article content (Bloomberg) — Investment in the world’s electricity grids must double to more than $600 billion a year if nations are going to meet their climate targets and maintain energy security. That would pay for adding or refurbishing about 80 million kilometers (49.7 million miles) of power transmission and distribution lines by 2040, the […]