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Brazil faces dirtier energy future as oil flaring hits 15-year high and thermal power set to expand
Brazil is on course to become a more carbon-intensive energy producer, with natural gas flaring on offshore platforms hitting its highest level in 15 years and the share of fossil fuel-based thermal power set to nearly double by 2040.
Brazil's pre-salt Social Fund failed to deliver on inequality promise, report finds
Brazil's Pre-Salt Social Fund has spent most of its 15-year existence without proper governance, failing to fulfil its mission of reducing inequality and financing social development, said a report by the Institute of Socioeconomic Studies (Inesc).
Petrobras signs first free-market natural gas contract in Brazil's Northeast
Brazil’s state-owned oil company Petrobras has signed its first natural gas supply contract in the free market in Brazil's Northeast region to supply ceramics company Cerbras, based in the state of Ceará, with deliveries set to begin on March 1.
Brazil's Lula signs free cooking gas law for 15mn families as critics flag electoral motives and fiscal risks
Brazilian President Luiz Inácio Lula da Silva has signed into law a programme providing LPG refills to around 15mn vulnerable households, a measure his critics have labelled an electoral subsidy carrying long-term fiscal risks.
Indonesian coal company RMKE reports surge in transport and trading volumes
PT RMK Energy Tbk (RMKE) has recorded a sharp improvement in performance at the start of the year, driven by strong growth in both its coal transport services and coal trading divisions, despite the period traditionally being a low season
Japan to build marine hydrogen engine plant by 2029
Yanmar Power Solutions, part of Yanmar Holdings, has announced plans to establish a dedicated facility focused on testing hydrogen-powered marine engines
South Korea nuclear phase-out may cost $3.6bn
A government blueprint designed to curb atomic power and scale up renewables may result in cumulative economic losses of roughly KRW5.3 trillion (approximately $3.6bn), according to new academic research.
Cuba's private sector creates new elite as 89% live in extreme poverty, rights group says
Latin America splits over Cuba aid as Mexico leads with 814 tonnes, Guatemala ends medical pact
Hungary cuts fuel supply to Ukraine, accuses Kyiv of political blackmail by delaying resumption of crude deliveries
Hungary has accused Ukraine of trying to create an oil crisis by deliberately delaying the restart of Druzhba pipeline deliveries, a move Budapest claims is direct interference in Hungary's upcoming general election.
India begins easing five-year curbs on Chinese power, coal equipment imports
India has begun relaxing restrictions imposed on Chinese equipment imports following the 2020 border clash, permitting state-run power and coal companies to undertake limited procurement from China as shortages and project delays intensify
Renewables to contribute 26% of India’s power generation by end-FY2026
Renewable energy is expected to account for 26% of India’s total electricity generation by the end of FY2026, even as demand conditions remain relatively subdued
India, UK constitute offshore wind taskforce
Mongolia’s coal and lignite exports calculated as higher by 73.5% y/y in January
Mongolia’s coal and lignite exports surged 73.5% y/y to 10.12mn tonnes in January, Mysteel Global has calculated based on data from Mongolia's Customs General Administration.
US-controlled Venezuelan oil sales could top $10bn a year, Wright says
Wright said about $1bn in oil has already been sold, with contracts in place to market an additional $5bn in the coming months
Venezuela’s oil reset spurs cautious optimism under Washington’s watch
Any recovery, however, is set to advance slowly and on Washington’s terms. Analysts say the US is likely to oversee as much as 70% of Venezuela’s oil-related cash flow, closely tracking how revenues move through the economy
Venezuela bond prices signal uneven recovery ahead of restructuring
A report from Bank of America says the focus is shifting from the overall recovery value to how losses and gains are apportioned among bondholders, depending on legal terms, litigation risks and, above all, unpaid interest
Venezuela reclaims fifth spot among US crude suppliers
Shipments averaged 153,000 barrels per day (bpd), down 13% from the previous week but still sufficient to overtake rival suppliers and restore the country’s ranking among Washington’s key energy partners
ADB backs Thai solar and storage scheme with $350mn in financing
The two hybrid solar-plus-storage facilities will have a combined contracted capacity of 126MW and 151MWh of battery energy storage.
Thai firms develop hotels at fuel hubs
PTT Oil and Retail Business Public Company Limited (OR) and Central Plaza Hotel Public Company Limited (Centel), both listed on the Thai stock exchange, have unveiled plans to establish a joint venture aimed at developing and operating budget hotels
Russian coal exports to India jump 63% in January
Russian coking coal supplies recover in India and China amid disruptions in Indonesian exports
Montenegro grants environmental permit for €200mn Bijela wind farm
COMMENT: US strike on Iran is all but inevitable with Trump backed into a corner
As the Iranians continue to make military threats while blocking off the crucial oil transit point of the Strait of Hormuz, it appears that US President Donald Trump will inevitably launch an attack on Iran.
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