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20 fevereiro 2023

Levmet re-enters steel trading

Monaco-based physical and derivatives commodities trading firm Levmet has re-entered the steel market with the launch of its subsidiary Steelmet International. London-based Steelmet will trade all major products, including hot-rolled and cold-rolled coil, hot-dip galvanised, billet, rebar, wire rod

20 fevereiro 2023

Tokyo Gas sets up JV to supply power to Narita Airport

Japan's largest gas retailer Tokyo Gas and Narita International Airport will establish 50:50 joint venture Green Energy Frontier to supply electricity to the airport in Chiba prefecture. Green Energy Frontier will start operations from April after it takes over Narita Airport's energy supply facili

20 fevereiro 2023

India’s Tamil Nadu eyes $6bn investment in EV output

The southern Indian state of Tamil Nadu aims to generate 500bn rupees ($6.04bn) of investment in electric vehicles (EVs) over a period of five years. The investment target is part of the Tamil Nadu Electric Vehicles Policy 2023, released on 14 February, that aims to transform Tamil Nadu into the "p

20 fevereiro 2023

Australia’s NSW finalises coal reservation policy

Australia's New South Wales (NSW) state government has issued final directions for its thermal coal reservation policy for domestic power generators. Thai firm Banpu's Australian operations have the most proportion of coal reserved, with 100pc of one mine's production, as well as 95pc and 75 pc of

20 fevereiro 2023

Australia’s BlueScope Steel faces carbon woes

Australia-based steel producer BlueScope Steel has warned that the reline of a blast furnace at its 2.1mn t/yr Port Kembla steelworks could depend on favourable emissions legislation. The firm has also been struggling with a hydrogen electrolyser project that underpins a move to green steel. BlueSc

20 fevereiro 2023

Australian beef exporters optimistic about China demand

Australian beef exporters could increase sales to China by more than 100,000t this year to reach 2019 levels, if Beijing-Canberra relations continue to improve and trade returns to normal. Trade tensions have been easing since a meeting between China and Australia's foreign ministers in December 20

17 fevereiro 2023

Crude Summit: Venezuela oil unlikely to compete

Colombian and Brazilian crudes are unlikely to face competition from rising Venezuelan crude volumes in international markets, even if US sanctions continue to ease, according to key Latin American producers. In Asia-Pacific — a top destination for crude from all three countries — independent refin

17 fevereiro 2023

Production will increase in 1H 2023: Tenaris

Global pipemaker Tenaris expects its North American sales and production to continue to increase in the first half of 2023. The company's North American production will continue to ramp up through the first half of the year and it will increase shipments to pipeline projects, according to a 15 Febr

17 fevereiro 2023

Warrior Met Coal union offers return to work

United Mine Workers of America (UMWA) members have offered to return to work at metallurgical coal miner Warrior Met Coal after nearly two years of striking. UMWA international president Cecil Roberts told Warrior Met Coal chief executive Walt Scheller in a letter that striking members would return

17 fevereiro 2023

Crude Summit: US export congestion starts to show

Corpus Christi has become the export hub of choice for many Permian crude producers, but once that outlet becomes too congested, the market is likely to see more crude go inland to Cushing, Oklahoma. "The pipelines going to Corpus Christi are pretty close to filling up," said Epic Midstream chief e

17 fevereiro 2023

US court to revisit $14mn penalty for ExxonMobil

A federal appeals court said it will reconsider a $14.25mn fine against ExxonMobil for thousands of alleged air pollution violations at its 584,000 b/d refinery complex in Baytown, Texas. The 5th US Circuit Court of Appeals agreed to hold an "en banc" rehearing, under which all 16 active judges on

17 fevereiro 2023

Crude Summit: Completion doubts abound for new refining

Nearly 1mn b/d of new US refining capacity is under construction or planned for investment in the coming years, but many of those projects are unlikely to be completed on time or at all. Having faced multiple refinery closures since the start of the Covid-19 pandemic — and with further closures suc

17 fevereiro 2023

Germany, Spain get EU nod for green steel aid: Update

The European Commission has approved a total of more than €500mn of state aid from Germany and Spain to support steelmaker ArcelorMittal as it seeks to decarbonise its processes using renewable hydrogen. The commission has given the nod to the Spanish government to provide a direct grant of €460mn

17 fevereiro 2023

EU's January gas consumption down over 20pc

Gas consumption in EU member states — excluding Cyprus — was 20.9pc lower than a year earlier in January, according to Eurostat data. The drop was driven by reductions in the largest consumers, particularly Spain and Italy, where consumption fell by 29pc and 22pc, respectively ( see January consump

17 fevereiro 2023

Germany gets EU nod for €55mn ArcelorMittal green steel

The European Commission has approved €55mn ($58.8mn) in state aid from Germany to steelmaker ArcelorMittal for a €110mn pilot project testing renewable hydrogen in steel production. The company aims to eventually implement the technology across Europe. ArcelorMittal plans to build a direct reduced

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