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Deals above the $60-a-barrel cap were allowed by the US, as Japan relied heavily on energy imports; they were "relatively small" and came mainly from the Sakhalin-2 project
Increasing oil deals between the two countries have already begun to corrode the US dollar’s long-running dominance in energy trade
China's long-term battle to reduce the dollar's dominance in world trade took two steps forward this week, with the first LNG trade in yuan, plus Brazil agreeing to trade via local currencies
China and Brazil have struck a deal to trade in their own currencies instead of the US dollar, the Brazilian government said on Wednesday, in another hit to US economic influence
The Chinese electric vehicle maker is pushing to make battery swapping a viable alternative to rivals' rapid-charging technology
The deal aims to strengthen their battery supply chains, by reducing dependence on China, and help Japanese carmakers access to a new tax credit for electric vehicles in the US.
The batteries will have greater energy density and perform better than lithium-ion phosphate batteries, the company's chairman said
Analysts fear China's renewable power generators may have to shoulder the costs of keeping under-utilised and loss-making coal power plants humming
Australia accounts for nearly half of the world's lithium supply and is ideally positioned to reap the benefits from the booming battery sector, if it acts fast
Analysts say original target was China importing 38 bcm of Russia gas by 2025 – that has now jumped to 98 bcm by 2030
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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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