Day: October 13, 2021

The European Union’s green bond debut was a great hit, drawing record demand, according to Bloomberg. The EU received orders worth 135 billion euros on Tuesday, ultimately selling $13.9 billion in securities that will mature in 2037. It outshone the U.K.’s green bond debut from September. The green bond was just the first batch of 250-billion-euros in green bond sales set to take place in the next couple of years. But the next batch may not go on sale until sometime next year. Green bonds are poised to play an…

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Crude oil imports into China fell by 6.8 percent over the first nine months of the year, to 387 million tons, according to customs data cited by Reuters. Natural gas imports, on the other hand, jumped by more than 22 percent over the period, to 89.85 million tons, the data also showed. In September alone, crude oil imports fell by more than 15 percent from a year ago. Gas imports went up to the highest since the start of the year at 10.62 million tons, Reuters also reported, citing the…

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One of Mexico’s largest oil refineries has been shuttered for weeks—only we are just now finding out about it. And oil products are now building up at the site. Mexico’s Tula oil refinery has been closed since late September, Reuters sources close to operations reported on Tuesday, as teachers protesting delayed salary and pension payments went on strike and blocked roads that the refinery uses to transport the refinery’s product—including fuel for Mexico City—away from the facility. Tula, located 90 kilometers from Mexico City, has a capacity of 315,000 bpd,…

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Beijing said on Tuesday it would allow price fluctuations of power derived from coal-fired plants to improve the country’s power market as shortfalls in power generation have sparked an energy crisis. According to a notice from National Development and Reform Commission (NDRC), electricity prices generated by coal-fired plants will be permitted to rise and fall by 20%. That compares with the prior upside limit of 10% and the lower limit of 15%. The reform would take effect from Oct. 15 NDRC requested provincial governments to require industrial and commercial users…

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Mergers and acquisitions in the oil and gas space in the U.S. declined in the third quarter after hitting a two-year high in the second quarter, according to data analytics firm Enverus. Enverus analysts said that the total value of M&A deals during the third quarter was 44 percent lower than the total value of second-quarter deals. However, it was still higher than the five-year average for the third quarter, at $18.5 billion versus $16 billion, excluding the Occidental/Anadarko tie-up. The biggest deal during the last quarter was Conoco’s purchase…

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