Latest: Energy News
The US warned New Delhi that Russian oil was being exported via high-seas transfers to hide its origin – in violation of US sanctions, a top Indian banker official said on Saturday.
The climate law passed by the US aims to localize the manufacturing of EVs but "adds a steep requirement aimed at weeding out 'foreign entities of concern' from supply chains", it says.
Companies in India use the UAE dirham, the HK dollar, yuan or euro when buying Russian coal, in a bid to avoid the dollar and US sanctions, according to customs data and industry sources
Rare earth mines surged from a small number to "more than 2,700 mining collection pools at almost 300 separate locations over an area the size of Singapore," Global Witness reported.
Thousands of people flooded the streets of Dhaka, demanding gas prices are cut to previous levels within 48 hours.
China and India now account for more than 41% of purchases of Russian crude oil, but there are signs that their buying has maxed out.
Clean energy would reduce the average cost per energy unit by 12%, said the report, meaning 63% lower annual cost.
The news, announced by Investment Affairs Minister Luhut Pandjaitan on Monday, follows a meeting between Tesla chief Elon Musk and President Joko Widodo in Texas in May
Imports from Russia rose by 49% last month, while Chinese exports to Russia jumped by nearly a quarter, the latest customs data revealed
A heatwave spurred power generators in China to ramp up purchases of coal in July by 24% over the previous month, driven by greater use of air conditioners in many cities.
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Energy: The Big Picture
India’s fast-rising Russian oil imports are being matched by its rising oil exports suggesting it may be reselling Russia’s oil to the West.
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Transport InsightsAnglo-American Puts World’s Biggest Hydrogen Truck to WorkMining giant Anglo-American has unveiled a prototype of what it says is the world’s largest hydrogen-powered mining truck
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Energy InsightsWhat is China’s Tokamak Fusion Reactor?The goal of the Experimental Advanced Superconducting Tokamak project is to unlock the secret to clean and limitless energy on earth, with minimal waste products
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Energy InsightsDoes US Warning to India Point to More Russian Oil Restrictions?The US state department says it is aware of talks between Russia and India concerning the purchase of oil. It has no objection to India buying Russian oil, provided it buys at discount
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Market InsightsKazakhstan Unrest Poses Risks for World EconomyHundreds of people have died and thousands have been detained in Kazakhstan during the worst violence seen in the Central Asian nation since it became independent in the early 1990s. The unrest in Kazakhstan poses risks for energy markets, and even cryptocurrencies.
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