July, 2022

• 16 July

  EU backs $14bn hydrogen project to help cut carbon

  

  Bloomberg The European Union (EU) took a step towards accelerating its deployment of hydrogen across the bloc, by approving a 15-nation project to help produce the fuel seen as critical to decarbonising heavy industry. The EU’s executive gave the green light under state aid rules to an “Important Project of Common European Interest” that will help unlock around $9 billion ...

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• 16 July

  China may end Australia coal ban

    Bloomberg Chinese bureaucrats studying the energy outlook are proposing to end a near two-year ban on Australian coal as tensions begin to ease and on concerns supply may tighten when Western-led sanctions on Russian energy kick in. The proposal will be submitted to senior leaders, with a recommendation Beijing should resume Australian imports. That’s been prompted by fears European-led ...

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• 16 July

  Energy crisis may spur S Africa to allow more private power

  

  Bloomberg South Africa is considering more than doubling the amount private power producers can generate without requiring a license in a bid to reduce blackouts that are hobbling the economy. President Cyril Ramaphosa is racing to make an announcement as soon as Sunday, the people said, asking not to be identified as the matter isn’t public. South Africa last year ...

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• 16 July

  PetroChina H1 profit rises by 50%

  

    Bloomberg China’s biggest oil company said its first-half profits jumped 50% to 60% from a year ago amid a surge in global energy prices. PetroChina Co.’s preliminary net income rose between 26.5 billion to 32 billion yuan ($3.9 billion to $4.7 billion) from last year, it said in an exchange filing. The company earned 53 billion yuan in the ...

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• 16 July

  France’s nuclear troubles worrying UK ahead of winter

  

  Bloomberg Electricite de France SA’s (EDF) nuclear-generation problems are not just a concern at home. They’re causing a headache for the UK too. Britain’s electricity system is facing a repeat of last winter, according to Fintan Slye, director of National Grid Plc’s network operator. That was when the buffer of spare generation capacity tightened, sending prices soaring. The warning is in ...

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• 16 July

  Britain’s aspiring leaders are far too quiet on Brexit

  

  The strangest thing about the turmoil surrounding UK Prime Minister Boris Johnson’s removal is the sustained lack of interest in Britain’s biggest and most pressing problem. Johnson bungled Brexit, and the country could be paying the price for years. His trade agreement with the European Union is broken and in danger of collapsing — threatening severe consequences for an economy ...

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• 16 July

  Going electric need not be complicated

  

  It may not have enough electric vehicles, powerpacks or the capital, but India has found a way towards mass electrification: swap batteries. The solution, where empty batteries can be exchanged for charged-up ones, is still in nascent stages in China, the world’s largest EV market, where it is anchored in strong government policy. Elsewhere, it hasn’t quite taken off. But ...

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• 16 July

  Is China stumbling into its own mortgage crisis?

    It is spreading like wildfire. Homebuyers in China are refusing to pay the mortgage on properties they’ve bought but that their financially strapped developers can’t finish. Some say that they will only resume payments when construction restarts. The protest involved more than 100 delayed projects as of July 13, up from 58 projects just one day earlier. The frustrated ...

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• 16 July

  Is Biden’s China policy delivering outcomes?

    Typically, the most effective foreign policy pairs smart tactical substance to an overarching strategic theme. Framing a foreign policy correctly can sustain domestic political support, attract allies and provide the intellectual guidance for action. Conversely, flawed framing can undercut any good that specific policies may otherwise be doing. When it comes to China, US President Joe Biden’s administration risks ...

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• 16 July

  Boeing needs a win at Farnborough Airshow

  

  Bloomberg As the aerospace world gathers in southern England next week for the first major commercial show since 2019, the stakes are particularly high for one half of the global planemaking duopoly. As ever, the spotlight at the Farnborough International Airshow will focus on the battle between Airbus SE and Boeing Co for orders, with rapid-fire, often last-minute announcements providing ...

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