Energy

Bloomberg State-run Coal India is considering cutting output at some mines, aligning it with a steep drop in demand from power generators amid a countrywide lockdown, according to people with knowledge of the development. The Kolkata-based miner will focus on clearing inventories and reducing production at thermal coal mines that have high stockpiles, said the people, who asked not to ...

Bloomberg The latest victim of the global slump in energy prices is an old Swedish nuclear reactor that will stay offline until at least the end of summer. Electricity prices in the Nordic market were plunging even before the coronavirus began to cripple economies and hurt demand worldwide. That’s because of the build-up of a huge surplus of future supply ...

Bloomberg With jets grounded and cars parked, diesel fuel for trucking is giving some relief to refiners as the coronavirus spread cuts deep into demand. The diesel revenue is sorely needed for the refining industry which has seen plants shut from South Africa to Canada and widepsread production cutbacks due to the pandemic-driven collapse in demand. In Houston, wholesale diesel ...

Bloomberg Bankrupt coal miner Murray Energy Corp could be forced to liquidate unless a federal judge lets it cut healthcare payments to retirees, according to court papers. Murray Energy, the largest private coal miner in the US, is asking the judge overseeing its Chapter 11 bankruptcy to let it shed certain health-care obligations in a bid to stave off a ...

Bloomberg Eskom Holdings SOC Ltd told operators of some independent wind-power plants that it won’t need their power at certain times of day due to lower demand amid a national shutdown. The amount of power generated from wind is at its highest when Eskom’s need is lowest, said Sikonathi Mantshantsha, a spokesman for the state-owned utility. South Africa started a ...

Bloomberg Oil majors and traders are scrambling to book supertankers to try and divert a flood of American crude to Asia, betting the region is the best place to store the surplus while the market waits for a rebound. A dozen very large crude carriers are being sought to load from the US Gulf Coast over a 10-day period from ...

Bloomberg Brazil’s two largest fuel distributors declared force majeure on purchases of ethanol as the coronavirus pandemic hammers demand in Latin America’s largest economy. The Raizen venture owned by Royal Dutch Shell Plc and Cosan SA sent a letter to suppliers invoking the clause for both anhydrous ethanol that’s blended in gasoline and the hydrous variety used directly in cars, ...

Bloomberg Pioneer Natural Resources Co and Parsley Energy Inc are asking Texas oil regulators for an emergency meeting to consider curbs on state output as a collapsing oil market envelops the nation’s biggest crude-producing state. Jointly signed by the chief executives of both companies, the letter seeks a virtual meeting among the three-member Texas Railroad Commission no later than April ...

Bloomberg What was meant to be a year that blew the wind energy industry well past its previous record for installations will more likely pass with gains that are merely solid. Developers are set to boost capacity by 9% this year to 66,422 megawatts, according BloombergNEF. That’s scaled back from the 24% expansion the London-based research arm of Bloomberg LP ...

Bloomberg China is burning more coal in yet another sign that the first country hit by a coronavirus outbreak is returning to a level of normalcy. Daily coal burn at select coastal plants has doubled from early February, at the height of the country’s lockdown to stop the spread of Covid-19. The plants are responding to resurgent electricity demand as ...