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Asia Pacific

China admits Australian coal as energy crisis grows and factories shut down | Source: The New Daily

In a humiliating loss of face, energy-starved China’s ban on Australian coal has been unofficially rescinded as the country grapples with blackouts and shuttered factories. China’s tough talk about punishing Australia did not survive the first of the coming winter’s chills and related economic impact. Already a handful of Australian cargoes waiting outside Chinese ports were allowed to berth and discharge their cargoes.

Source: The New Daily


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Asia Pacific

China strengthens financial support for coal, electricity production | Source: People´s Daily Online

China’s top banking and insurance regulator has released a circular on strengthening financial support for coal and electricity production and maintaining order in the commodity market. Measures should also be taken to prevent speculation on high-end consumer goods using business and consumer loans; illegal inflows of bank and insurance funds into stock, bond and futures markets; and behaviors inducing consumers to borrow blindly and spend excessively.

Source: People´s Daily Online


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China turns to stranded Australian coal to combat power crunch | Source: ABC

China is releasing Australian coal from bonded storage, despite a nearly year-long unofficial import ban on the fuel. It comes as the nation scrambles to ease a power crunch stemming from a coal shortage. The power crisis in the world’s top consumer of coal is due to strong demand from manufacturers, industry and households, which has pushed prices to record highs and triggered widespread curbs.

Source: ABC


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Latin America

China Is Desperate To Secure Latin American Oil And Coal | SOURCE: Oil Price

State-controlled Chinese energy companies and miners are boosting their regional presence investing heavily in a wide range of operations, notably in Colombia, Ecuador, and Venezuela. Fiscally weak governments, resource-rich terrain, and a deep economic malaise exacerbated by the COVID-19 pandemic have created the ideal opportunity for Beijing to build greater regional influence. Moreover, former President Trump’s decision to ignore Latin America coupled with Washington’s crumbling regional hegemony is amplifying China’s ability to expand its regional footprint and influence.

SOURCE: Oil Price


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Asia Pacific

China to stop financing overseas coal power projects | Source: Argus

China has pledged to stop building overseas coal-fired power plants, potentially ending a major source of financing for the sector. Beijing will also step up support for green and low-carbon projects in other developing countries. China is a major backer of coal power projects in the global market. Indonesia was the single-largest recipient of China-backed coal-fired power projects, followed by Vietnam and India.

Source: Argus


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Global Energy Stategic Resources

Eurasia

EURASIA

  • CHINA: China approves four coal mine projects in western Xinjiang region to ensure energy supply.

SOURCE: REUTERS

 

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