Top Australian banks restrict lending to carbon intensive projects
By slowing down lending for carbon-intensive projects, leading Australian banks are increasing their efforts to reduce carbon emissions and align themselves with global climate goals. Commonwealth Bank of Australia, the country's largest lender, announced on…
What Glencore-Tohoku Coal talk Impass Means for Market
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan's Tohoku Electric and Glencore to agree on an annual thermal coal contract that is used to set prices for the region. Tohoku Electric…
Oil Steady as Tighter U.S. Market Balances OPEC Supply
U.S. reports record gasoline demand, falling crude stocks. Oil prices rose steadied on Thursday, supported by signs of a tightening U.S. market but weighed down by ample supplies from OPEC producers. Benchmark Brent crude was up 5 cents at $52.41 a barrel by 1145 GMT. U.S. light crude was 5 cents higher at $49.64.
Beach Acquires $ 530 Mln Financing Facility
Beach Energy Limited has entered into a $530 million senior secured syndicated corporate debt facility to replace existing lending arrangements. The new facility will initially be drawn to $170 million to refinance current borrowings and letters of credit,…
Glencore Scouts for Coal as Prices Sink
Glencore hunting for more coal mines; sees opportunity while sector over-supplied. Glencore Plc is looking to buy more coal mines to take advantage of a soft market and position itself for future growth, the head of the firm's global coal division said. While…
Oil Falls Towards $61 on Supply Outlook
Saudi's Naimi says kingdom could increase output; technical support seen as low as $40, resistance around $70. Oil fell towards $61 a barrel on Monday, reversing gains after Saudi Arabia indicated it could increase its output. Saudi Arabia is prepared to increase…
Global LNG Prices Steady, Demand Remains Weak
Asian spot liquefied natural gas (LNG) prices stabilised on Friday, taking a breather from the steady decline seen since September, as demand remained weak in an oversupplied market. The spot price for January was slightly higher at around $9.80 per million British thermal units (mmBtu) on Friday…
Brent Crude Falls Below US$98
Brent crude dropped below $98 a barrel on Thursday, falling for the sixth straight session, as worries about ample supply and weak demand, which have dragged prices to 17-month lows, outweighed geopolitical concerns in the Middle East. The market was concerned about the impact of the expansion of U.S.
Oil Below $104 on Supply, Weak Data
Ample supplies keep pressure on oil prices. First oil exports in a year leave Libya's Ras Lanuf port. Brent crude oil fell below $104 a barrel on Thursday as a contraction in the German economy underscored sluggish demand in Europe while supply remained strong despite conflict in key exporting countries Iraq and Libya.
Brent Crude Falls Below US$104
Brent crude fell below $104 a barrel on Thursday, after briefly bouncing off a 13-month low the previous day, on ample supplies and concerns about weak demand despite the ongoing political turmoil in Iraq and Ukraine. * Coming up: U.S. Oil exports from Libya's…
High-cost Australia May Miss LNG Expansion
Stung by soaring costs, the gas industry paints a gloomy outlook for new liquefied natural gas (LNG) projects in Australia, putting at risk $180 billion of developments from 2018 onwards. While Australia enjoys political stability and is close to Asian customers…
