Energy

  Bloomberg US natural gas futures extended declines below $3 amid mild winter weather that’s helped spark the worst selloff among country’s commodities. Gas for February delivery traded as low as $2.857 per million British thermal units on the New York Mercantile Exchange. Prices are at lowest levels since May 2021 after dipping below $3. Doomsday fears that suppliers wouldn’t ...

Bloomberg National Grid Plc again requested that coal-fired power units prepare for service to bolster the network’s spare capacity, then called off the notice as it has done previously. The grid asked three coal stations to warm in the early hours, before cancelling the request for Electricite de France SA’s unit at West Burton shortly after 5 am local time ...

  Bloomberg South Africa’s Richards Bay Coal Terminal, the continent’s biggest export facility for the fuel, increased shipments to Europe last year to meet increasing demand even as the project struggled with infrastructure disruptions. Security issues, a wage strike and equipment shortages for state-owned rail operator Transnet SOC Ltd. cut coal deliveries from mines to the port, contributing to overall ...

Bloomberg South Africa’s worst ever power blackouts are threatening platinum and palladium supplies in the top miner, both now and in the years ahead. Outages last year curbed output of the metals, and the power crisis that’s crimping the economy has worsened in recent months. The nation’s platinum-group metals production will likely fall this year, according to Impala Platinum Holdings ...

Bloomberg Germany is still years from substituting Russian pipeline gas imports with liquefied natural gas (LNG) capacities, according to estimates by the country’s Economy Ministry. Chancellor Olaf Scholz told Bloomberg last week that the country had learned its lesson from being too dependent on Russia. The goal now was to build capacity that gives Germany the chance to have as ...

  Bloomberg BHP Group struck a deal to look for copper in Serbia as the world’s biggest mining company expands efforts to find new deposits of the metal essential for the green revolution. The top miners are bullish on the outlook for copper, which is used in wind turbines, grids and electric vehicles. And with demand expected to outstrip supply, ...

  Bloomberg The value of the voluntary carbon market that allows polluters to buy credits to offset emissions is set to grow fivefold by 2030, after expanding at a record pace over the past two years, according to Shell Plc. The global voluntary market is expected to increase from an estimated value of $2 billion in 2021, Shell said in ...

  Bloomberg BHP Group Ltd., the world’s biggest miner, reported record iron ore production for its fiscal first half, predicting China would drive commodity demand in 2023 as the country opens up. The Melbourne-based miner produced 132 million tons of the steelmaking material in the six months to December 31, 2022. The record was achieved through a strong supply-chain performance, ...

  Bloomberg Companies hoping to build wind farms off the coast of the UK have started to pay the more than $1 billion in annual fees for access to sections of empty sea, starting a race to build the projects as quickly as possible and generate clean electricity. The Crown Estate, which manages the seabed around England and Wales, signed ...

  Bloomberg European natural gas prices declined as ample inventories and tanker-borne fuel help offset lower supplies from Russia. Benchmark futures fell as much 5.6% after gaining as much as 6.3%. Russian flows via Ukraine slumped further while cold weather swept across the continent, boosting demand for the fuel used in heating and accelerating withdrawals from storage sites. The region ...