Grain traders have imported one million tons of Ukrainian wheat to Romania this season. This makes Romania the second largest export market for Ukrainian wheat after Spain (3.3 million tons), reports the Romanian business portal Economica.net, citing data from the Ukrainian customs authorities. In contrast, MEP Enikő Győri (Fidesz) emphasized that “we cannot be in…
Chicago corn and soybean futures edged higher on Friday, with bargain-buying lifting prices after both markets dropped to their lowest levels in three years, although plentiful supplies are likely to limit gains. Wheat rose for a second session on supply concerns as potential U.S. sanctions against top global wheat exporter Russia could hit flows. “As…
Warren Buffett-backed Occidental Petroleum is predicting an oil supply shortage by 2025 due to global failure to replace crude reserves at a fast enough pace. “We’re in a situation now where in a couple of years’ time we’re going to be very short on supply,” Occidental CEO Vicki Hollub told CNBC at the Smead Investor…
Having independently resumed operations of its major maritime ports on the Black Sea, Ukraine is forecast to increase grain exports for the remainder of the 2023-24 marketing year, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. FAS’ Global Agricultural Information Network shows that, after an initial dip…
Global coal-fired power generation reached a record-high level in 2023, per data from environmental think tank Ember reported by Reuters columnist Gavin Maguire. As countries, especially in Asia, looked to meet growing electricity demand and ensure their energy security, coal use in power generation hit record highs. Per Ember data, global electricity generation from coal…
India was one of the advocates for holding a global stocktake exercise and has offered to host the second global stocktake, COP33. In the preparation of next Nationally Determined Contributions 2025-2030, India should conduct a national stocktake and go granular in its planning for meeting its own renewable and energy efficiency goals. State-level commitments are…
Traders are still investing in oil by-products despite the price cap in oil markets. Bloomberg data released on Tuesday 6th of February, showed that the open interest in primary oil futures contracts has peaked since March 2022. Oil derivatives of almost 660 million barrels have been added this year, yet…
Shell has projected that liquefied natural gas (LNG) will replace coal as a leading driver of Chinese and other Asian economies. According to the firm’s LNG Outlook published today, demand will rise by 50 percent by 2040 and global LNG trade will grow to around 625-685m tonnes per year, up from the 404m tonnes traded…
In the U.K., the government is investing in the assessment of the potential for old coal mine sites to be converted into renewable energy hubs. As many governments around the globe aim to phase out the use of coal, researchers are exploring the potential for old mining sites. Rather than be left abandoned, ex-coal production…
Poland’s new government signaled on Monday it would be looking to set an end date for using coal for power generation, a senior government official said. “Only with an end date we can plan and only with an end date industry can plan, people can plan. So yes, absolutely, we will be looking to set…