Chinese copper smelters are struggling with margin collapse
Industry insiders say that major copper smelters in China, the world's largest consumer, have started equipment maintenance during March, traditionally peak demand season, to try and stem the losses caused by a worsening shortage of feedstock, which is hurting margins. The fact that plants are being shut down during one of the busiest periods of the year shows how much refiners suffer from the lack of copper concentrate.
A letter from the industry says that over $13 billion worth of solar and wind investments are at risk in Vietnam.
Adani Green Energy, as well as more than two dozen other foreign and Vietnamese investors have warned that Vietnam's plans for retroactively changing rules on subsidised wind and solar prices could impact over $13 billion in investments. Investors expressed "deep concern" in a letter dated 5 March and reviewed by that the end of the favourable energy tariffs could threaten financial stability. They also noted…
Vitol signs 10-year LNG contract for delivery to Philippines
Vitol, a global energy trading company, announced that it had signed a long term deal with a Philippine-based entity to supply LNG to the country starting in 2025. It is the first long-term LNG supply agreement signed in the Philippines. The country only started importing super-chilled fuels in 2023. In a 10-year deal with LNGPH, Vitol has agreed to supply LNG up to 0.8 millions tons annually. The trading house announced this in a late-Tuesday statement.
Ambassador to Washington: Philippines-US defense arrangements will remain intact
Manila's ambassador in the United States, who spoke on Monday, said that existing defence agreements between the Philippines and United States would remain intact under Donald Trump. Jose Manuel Romualdez, a reporter at a forum for foreign media in Manila, said that Ferdinand Marcos Jr., the Philippine president, is willing to travel if Trump can meet him. This could happen in the northern spring. Romualdez responded that "all of this will remain" when asked about U.S. support for security in the Philippines.
PacificLight Power builds a hydrogen-ready gas powered plant in Singapore
PacificLight Power said that it received approval on Friday from the Singapore Government to build a hydrogen-fueled gas power plant at Jurong Island. The project is part of the city's plan to decarbonise their power grid which relies mainly on natural gas for generation. PLP said that it had received approval from Singapore’s Energy Market Authority to build, own and operate a combined cycle gas turbine facility (CCGT) capable of supplying at least 600 Megawatts (MW). This will begin in January 2029.
Philippines communities challenge dash for fossil gas
The government claims that LNG is an alternative to coal, and the capacity to generate it is required to meet the energy demands of Luzon Island, which is also home to Manila, the capital city, located 110 km (68 mi) north. Many people in Santa Clara, an area adjacent to the port's terminal, claim that respiratory illness has increased dramatically, even among children as young five years old. They attribute this to the LNG plants. Welita Abanil is a 69-year-old Santa Clara healthcare worker.
Mooreast Appoints Ellingsen as CEO
Mooreast Holdings Ltd. announced today it will appoint Mr Eirik Ellingsen, a Norwegian with deep experience in the offshore and marine sector, as Chief Executive Officer (“CEO”) amid growing adoption of floating wind energy projects worldwide.Mr Ellingsen will assume the role of CEO at Mooreast on 1 January 2025. He will be taking over from Mr Sim Koon Lam, the founder, who will continue to serve as Executive…
As it roars through the Philippines, super typhoon Man Yi is expected to weaken.
The Philippines' main island, Luzon, was ravaged by the super typhoon Man Yi on Sunday. It brought heavy rain to the capital, Metro Manila. More than one million people were evacuated and buildings damaged in various areas. Weather officials reported that the storm, which had winds of 185 km/h (115mph) when it hit land in Panganiban town in Catanduanes Province on Saturday night, weakened slightly before reaching the coast of Camarines Norte by 8 am.
Philippines urges residents in the affected areas to evacuate as the super typhoon Man Yi intensifies on its approach
The Philippine authorities made an urgent call on Saturday to residents of coastal towns and low-lying areas to evacuate as the super typhoon Man Yi gained strength in its approach to the main island of Luzon. Man-Yi intensified, with sustained maximum winds of 195 kph and gusts reaching up to 240kph. It was prompted to increase its alert level to the highest for the provinces Catanduanes Sur and Camarines Sur, located in central Bicol.
Philippines evacuates thousands of people as super typhoon Man Yi approaches
On Saturday, the Philippines evacuated thousands of people and cancelled dozens flights as a super-typhoon threatened heavy rains and strong winds that could cause floods and storm waves. The storm Man-Yi, which was packing winds of up to 185 kph 115 mph, was headed for the eastern portion of Luzon's main island. This prompted the weather agency of the Philippines to issue its second highest alert for Catanduanes province and Camarines Sur province.
COP29: Which are the main issues at the UN Climate Summit in Baku
The U.N. Climate Summit COP29, which will take place in Baku on November 15th, has been called the "climate financing COP" because its main goal is to decide how much money each year should be allocated to help developing countries deal with climate-related expenses. This discussion may be difficult following the reelection of Donald Trump as former U.S. president on Tuesday. A climate denier, Trump's campaign…
GIC and Macquarie are interested in selling a $2 billion stake in EDC Philippines, according to sources
Two sources familiar with the matter have confirmed that Macquarie and GIC are considering selling their roughly 30% stake in Energy Development Corp. (EDC) of the Philippines, a deal which could bring in $2 billion. Sources who declined to identify themselves because the discussions are private said that they were in preliminary discussions with advisors, and that no decisions had been taken. EDC is the Philippines largest renewable energy company with a capacity installed of 1,480.19 Megawatts.
Malaysian PM: Petronas exploration in South China Sea to continue
Anwar Ibrahim, Malaysia's prime minister, reiterated on Tuesday that the state-owned energy company Petronas would continue to conduct oil exploration in Malaysia's Exclusive Economic Zone (EEZ) of the South China Sea despite China's objections. He told the parliament that this includes exploration activities for Petronas Kasawari Gas Development off Sarawak State on Borneo. Anwar stated, "We will continue to discuss with all countries.
Sources say that India's Adani Group is planning 10 GW of overseas hydroelectric projects
Four sources familiar with Adani Group's plans said that the group plans to build ten gigawatts worth of hydroelectric projects overseas in the next few years. This will help the conglomerate achieve its goal of achieving net zero carbon emission by 2050. The billionaire Gautam Adani announced that his group, which includes businesses ranging from rice to concrete, would invest $100 Billion over the next decade in developing green energy capabilities…
Southeast Asia is expected to increase coal trade as China nears its peak
Industry officials predict that Southeast Asian countries like Vietnam and Philippines will boost coal consumption and trade in this decade even as China, the top consumer, is approaching its peak demand. In a speech at the Coaltrans Asia Conference, Priyadi, the Chairman of the Indonesian Coal Miners Association, said that the Association expects China and India's coal imports to reach a peak in 2025. This will end the growth in the global seaborne trade volume for the polluting fuel.
Southeast Asia is expected to increase coal trade as China nears its peak
Industry officials predict that Southeast Asian countries like Vietnam and Philippines will boost coal consumption and trade in this decade even as China, the top coal consumer, is approaching its peak demand. In a speech at the Coaltrans Asia Conference, Priyadi, the Chairman of the Indonesian Coal Miners Association, said that the Association expects China and India's coal imports to reach a peak in 2025. This will end the growth in the global seaborne trade volume for the polluting fuel.
Malaysia won't stop South China Sea exploration, despite China protests says PM
Anwar Ibrahim, Malaysia's Prime Minister, said that the country would not stop oil and gas exploration on the South China Sea in spite of Beijing's claims that Malaysia had infringed on its territory. Anwar, who is currently in Russia on an official visit, stated that Malaysia's exploration was within its own territory, and it wasn't meant to be provocative towards China. Anwar stated in a Vladivostok televised…
Sources say that the Philippines' largest oil import storage company is seeking a strategic investor.
Two people familiar with the matter have confirmed that the owners of Philippine Tank Storage International want to bring in a strategic investor for the company, which runs the largest petroleum import storage facility of the country. One person said that Singapore's Keppel infrastructure Trust and the Philippine conglomerate Metro Pacific Investments Corp. (MPIC) were weighing a deal which could value the asset up to $500,000,000. Keppel Infrastructure Trust declined to comment. MPIC declined to comment.
Philippines fishermen fear solar farm on lake could hurt their income
Alcones, a member of a group that opposes the government's plans to install solar panels on top of Laguna de Bay, the largest source of freshwater fish in the country, to meet the growing demand for electricity, is opposed to this plan. "Laguna Lake provides income and life to fishermen who have not finished school, like us. "It also provides many displaced workers with an alternative source of income by fishing," said Alcones a 55-year old father of two, who lives near Laguna Lake.
Jordan LNG terminal awarded to AG&P consortium
A company statement said that the Singapore-based Atlantic, Gulf and Pacific, as part of a group, was awarded a contract for building an LNG terminal onshore in Jordan. The onshore Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah terminal will be constructed at the Port of Aqaba and will have a capacity of 720 millions standard cubic feet per daily (mmscfd). AG&P sent a statement on Wednesday evening stating that the terminal would be finished, delivered, and commissioned within 22 months.
