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02 maio 2023

Brazil seeks alternatives to stuck power bill

A lengthy wait for Brazil's congress to pass a key power modernization bill is forcing market participants to consider distributing its components into other laws and ordinances. The Brazilian power market has long been awaiting approval of the bill — known as PL 414/2021 — as a first step to refor

02 maio 2023

South African bitumen imports surge on rising activity

Imports of bitumen cargoes to South Africa have risen dramatically this year, because of a lack of domestic production and a buoyant road paving season. Several international trading and supply firms are engaged in intense competition to win business into the growing import market, resulting in nea

02 maio 2023

ICGB to test interest in gas capacity expansion in 2H23

ICGB, operator of the 3bn m³/yr Interconnector Greece-Bulgaria (IGB), plans to hold a market test for an expansion of the line to 5bn m³/yr in the second half of this year, chief executive Teodora Georgieva told Argus . The war in Ukraine has led to "significant changes" to the energy sector in the

02 maio 2023

Late $100bn/yr climate goal likely hit in 2023: Germany

Developed countries are "on track" to deliver on a missed $100bn/yr climate finance target for developing countries this year, Germany's foreign minister Annalena Baerbock said today as over 40 countries take part in key climate talks in Bonn in preparation for the UN Cop 28 climate summit. "The go

02 maio 2023

CVB's 2023 wheat crop to add to already-high stocks

Romania and Bulgaria could struggle to translate high beginning stocks into high exports in the 2023-24 marketing year (July-June) due to low demand from the region's typical buyers, according to market participants at an industry conference in Bucharest on 28 April. Romania and Bulgaria are both e

02 maio 2023

Ukraine 2023 wheat crop pegged at 16.34mn t

Argus' agriculture analytics arm Agritel has revised up its estimate for Ukraine's 2023-24 wheat production owing to higher estimates for harvested acreages but still expects next season's output to fall to its lowest since the 2012-13 marketing year. Agritel pegs Ukraine's 2023-24 wheat production

02 maio 2023

BP's 1Q profit supported by strong oil and gas trading

A strong contribution from oil and gas trading supported BP's profit in the first quarter. The company said today that its replacement cost profit, which excludes inventory valuation effects, rose to $8.7bn in January-March from an impairment-driven loss of $23bn a year earlier. Its underlying repl

02 maio 2023

India’s NMDC cuts iron ore prices for May

Indian state-controlled iron ore producer NMDC has reduced its iron ore prices for May, in line with lower international iron ore prices. NMDC cut its domestic prices by 300 rupees/t ($3.70/t) from 21 March to Rs4,200/t for lump with 65.5pc Fe, and by Rs100/t to Rs4,010/t for 10mm fines with 64pc F

02 maio 2023

SK E&S, Plug Power to build H2 gigafactory in Korea

South Korea refiner SK E&S and US fuel cell firm Plug Power will jointly invest 1 trillion won ($746mn) to build a hydrogen gigafactory in South Korea. The investment will be made through the two companies' joint venture SK Plug Hyverse, SK E&S said on 2 May. SK E&S will invest W510bn and Plug Powe

02 maio 2023

Thailand’s urea imports rise in January-March

Thailand's urea imports totalled 392,000t in January-March, rising by 55pc on the year, according to the latest GTT data. The rise in imports in the first quarter of the year was driven by higher deliveries from Malaysia, Saudi Arabia, and Oman. Deliveries from Malaysia rose by 61pc to 149,400t in

02 maio 2023

India’s RIL, BP offer gas from KG-D6 basin

Indian private-sector refiner Reliance Industries (RIL) and BP are set to auction 6mn m³/d of gas from "difficult fields" located in the KG basin off India's east coast in an e-auction on 19 May, according to a tender notice published on 28 April. The government considers deepwater, ultra-deepwater

02 maio 2023

Coal India raises April output on steady demand

State-controlled producer Coal India (CIL) raised its output and supplies in April from a year earlier, because of steady demand from utilities ahead of peak summer power consumption. CIL — which meets more than 80pc of India's coal needs — produced 57.6mn t of coal in April, up by 7.7pc or 4.10mn

02 maio 2023

Woodside gas project faces new scrutiny: Clarification

Australian independent Woodside Energy's Scarborough gas project will face greater scrutiny over its impact on the World Heritage-listed Great Barrier Reef, after the Federal Court of Australia dismissed the company's attempt to have a legal challenge dismissed. The Australian Conservation Foundati

02 maio 2023

Australian Dartbrook coal mine eyes restart by end 2023

Australian Pacific Coal (AQC) expects to restart the 5mn t/yr Dartbrook thermal coal mine in the Hunter Valley region by the end of this year, after it rejigged the joint venture and found an alternate offtake partner. The mine, which has approval to operate until 2027 , has been scheduled to resta

01 maio 2023

US court is urged to fast-track sale of Citgo: Update

The US federal court in Delaware should launch the sale of US refiner Citgo's parent company in September to take advantage of the rebounding profits in the refining industry, a court official tasked with the auction said. The US District Court for the District of Delaware has already approved the

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