Indian companies swapping dollar for Asian currencies to buy Russian coal
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the U.S. dollar and cutting the risk of breaching Western sanctions against Moscow.
U.S. power companies face supply-chain crisis this summer
U.S. power companies are facing supply crunches that may hamper their ability to keep the lights on as the nation heads into the heat of summer and the peak hurricane season.
Exclusive: India’s Tata Steel bought 75,000 tonnes of Russian coal in May
India’s top steelmaker Tata Steel (TISC.NS) imported about 75,000 tonnes of coal from Russia in the second half of May, two trade sources and one government source said, weeks after pledging to stop doing business with Russia.
EXCLUSIVE German parties agree on 2030 coal phase-out in coalition talks -sources
Germany’s Social Democrats (SPD), Greens and Free Democrats, who are negotiating to form a new government, have agreed to commit to a coal phase-out by 2030 in a coalition deal, sources involved in the talks told Reuters on Tuesday.
Sweden’s Vattenfall raises emission targets, eyes 2040 net zero goal
Swedish energy company Vattenfall (VATN.UL) said on Monday it increased its emission reduction goals for 2030 and brought forward its net zero target by 10 years to 2040, by phasing out coal and increasing wind and solar capacity.
Indonesia Aug exports, imports seen staying strong on resources boom
Indonesia’s exports and imports likely continued to surge in August, driven by high prices of the country’s main commodities like coal and palm oil, a Reuters poll showed on Tuesday.
The Rising Demand for Coal raises stakes of the Thermal Coal Commodity by 106% !
Soaring electricity demand, infrastructural issues, and a rise in worldwide gas costs have sparked an unusual rally for the world’s least popular commodity. According to the latest weekly assessment by commodities price supplier Argus, Australian thermal coal at Newcastle Port, the benchmark for the enormous Asian market, has risen 106 % this year to more […]
Japan goes nuclear in bid to stay cool during Summer Olympics
Japan has rebooted extra power plants, including a long-dormant nuclear reactor, and taken other steps to avoid a power crisis as temperatures soar and demand for cooling surges, especially in Tokyo, where the Olympics begin on Friday.
EXCLUSIVE Energy trader Mercuria posts record profit for volatile 2020
Mercuria Energy Group had a boom year in 2020, buoyed by the extreme volatility seen in oil markets caused by the COVID-19 pandemic, as well as very strong returns across its portfolio, particularly gas and power.
Explainer: Mystery behind slump in India’s Adani Group company shares
Shares of companies controlled by Indian billionaire Gautam Adani recorded their biggest weekly losses ever. The six stocks cumulatively lost 1.91 trillion Indian rupees ($25.83 billion) of value over five days through Friday.
