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July 5, 2022

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S.Korea to lift nuclear power share of energy mix to 30% by 2030

Reuters
SEOUL, July 5 (Reuters) – South Korea plans to increase the contribution of nuclear power in the country’s power source mix to 30% or more by 2030 from 27.4% in 2021, the industry ministry said on Tuesday. South Korea’s new president, Yoon Suk-yeol, has rejected the idea of phasing out......

Germany’s Scholz revives 1960s-style meets with unions, bosses on inflation

Reuters
Scholz calls tackling soaring inflation “historic challenge” Kicks off meets with unions, employers to build consensus Seeks to avoid wage-price spiral, social unrest BERLIN, July 4 (Reuters) – German Chancellor Olaf Scholz met trade union and employers association leaders on Monday for the first of a series of meetings aimed......

Norway oil and gas workers to strike on Tuesday, cutting output

Reuters
Strike to start midnight local time (2200 GMT on Monday) Gas output could be cut by near 25% by Saturday, oil by 15% Government can intervene in special circumstances Union workers want higher pay rise than in negotiated deal OSLO, July 4 (Reuters) – Norwegian offshore workers will likely go......

Germany to overhaul law to bail out energy firms stricken by Russia woes – draft

Reuters
The logo of German energy utility company Uniper SE is pictured in the company’s headquarters in Duesseldorf, Germany, March 10, 2020. REUTERS/Thilo Schmuelgen Register now for FREE unlimited access to Reuters.com Register Government could present proposals to parliament this week Government may acquire stake in Uniper: sources Possible Uniper bailout......

Norway strike could cut gas output by 13% next week, oil lobby says

Reuters
OSLO, July 3 (Reuters) – A planned strike next week by Norwegian petroleum workers could cut the country’s gas output by 292,000 barrels of oil equivalent per day, corresponding to 13% of output, employers’ group Norwegian Oil and Gas Association (NOG) said on Sunday. Oil output could be cut by......

Strike ends at Exxon refinery in France

Reuters
Cars are seen at an Exxon gas station in Brooklyn, New York City, U.S., November 23, 2021. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register PARIS, July 3 (Reuters) – A workers’ strike at Exxon Mobil’s (XOM.N) Esso refinery in Fos-sur-Mer in southern France stopped on Saturday......

Factbox: The legitimacy crisis in Libya’s political institutions

Reuters
July 3 (Reuters) – Libyan protesters want the political authorities to quit and hold elections after previous transitional periods created institutions that clung on long after their mandates expired. Here are Libya’s main political institutions that have so far failed to overcome entrenched differences between rival authorities in the east......

Fire extinguished at Norway’s Mongstad refinery

Reuters
The greenhouse of CO2Bio is seen in front of the oil refinery in Mongstad, Norway, July 31, 2018. REUTERS/Clodagh Kilcoyne Register now for FREE unlimited access to Reuters.com Register OSLO, July 3 (Reuters) – A fire that broke out at Equinor’s (EQNR.OL) Mongstad oil refinery on Norway’s west coast early......

Iranian-flagged tanker in Greece tugged to Piraeus port

Reuters
The Liberian-flagged oil tanker Ice Energy transfers crude oil from the Iranian-flagged oil tanker Lana (former Pegas), off the shore of Karystos, on the Island of Evia, Greece, May 26, 2022. REUTERS/Costas Baltas Register now for FREE unlimited access to Reuters.com Register ATHENS, July 2 (Reuters) – An Iranian-flagged tanker......

Petroperu requests emergency declaration after pipeline attack

Reuters
LIMA, July 1 (Reuters) – State-owned Petroperu asked the government to declare a state of emergency for a major crude oil pipeline late on Friday, after it suffered a series of cuts in an Amazonian region of the country that it described as “an unprecedented attack.” Petroperu confirmed an oil......

Exxon signals operating profits could double over the first quarter

Reuters
People pump gas at an Exxon gas station in Brooklyn, New York City, U.S., November 23, 2021. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register HOUSTON, July 1 (Reuters) – Exxon Mobil Corp (XOM.N) on Friday signaled that skyrocketing margins from fuel and crude sales could generate......

Muted start to new quarter for European equities as recession worries weigh

Reuters
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 29, 2022. REUTERS/Staff Register now for FREE unlimited access to Reuters.com Register Euro zone inflation hits another record, tops estimates Micron’s bleak outlook weighs on chip stocks Italy, Spain’s factory activity growth slows......

Asia spot prices jump amid stronger demand, concerns over Russia

Reuters
A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. REUTERS/Issei Kato Register now for FREE unlimited access to Reuters.com Register LONDON, July 1 (Reuters) – Asian spot liquefied natural gas (LNG) prices continued to rise this week......

Column: Global business cycle starts to turn down: Kemp

Reuters
An aerial view shows containers and cargo vessels at the Qingdao port in Shandong province, China May 9, 2022. China Daily via REUTERS Register now for FREE unlimited access to Reuters.com Register LONDON, June 30 (Reuters) – Global manufacturing activity and freight movements have begun to decelerate as the major......

Germany in bailout talks with Uniper amid gas crisis

Reuters
First German company to raise alarm over scarce gas, prices Gas stocks lowest since early 2017 Fortum says will help but crisis requires big efforts Works council wants German government to step in FRANKFURT/DUESSELDORF/BERLIN, June 30 (Reuters) – Germany’s Uniper (UN01.DE) is in talks about a possible government bailout as......

Gazprom shares dive after dividend cancelled for first time since 1998

Reuters
Logo of the Russian energy company Gazprom is seen on а station in Sofia, Bulgaria, April 27, 2022. REUTERS/Spasiyana Sergieva Register now for FREE unlimited access to Reuters.com Register This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine MOSCOW, June 30 (Reuters)......

Indian shares suffer worst quarter since pandemic-hit start of 2020

Reuters
A general view of the Bombay Stock Exchange (BSE) in Mumbai, India, January 21, 2021. REUTERS/Francis Mascarenhas Register now for FREE unlimited access to Reuters.com Register BENGALURU, June 30 (Reuters) – Indian shares on Thursday ended lower and clocked their worst quarter since the early days of the pandemic, beset......

Oil rises as supply concerns outweigh U.S. fuel stocks build

Reuters
Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo Register now for FREE unlimited access to Reuters.com Register SINGAPORE, June 30 (Reuters) – Oil prices edged higher on Thursday after dipping in......

Column: Oil market confronts U.S. and EU policymakers with unpalatable choices: Kemp

Reuters
LONDON, June 29 (Reuters) – With global inventories steadily falling and spare capacity eroding, the oil market resembles a geological fault line in which stress is quietly accumulating and will eventually be relieved by an earthquake of as yet unknown magnitude. The most likely stress relief will come from a......

U.S. power companies face supply-chain crisis this summer

Reuters
June 29 (Reuters) – U.S. power companies are facing supply crunches that may hamper their ability to keep the lights on as the nation heads into the heat of summer and the peak hurricane season. Extreme weather events such as storms, wildfires and drought are becoming more common in the......

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