Latest News
-
US seeks UN sanctions against ships bringing North Korean coal into China
The United States announced on Wednesday that it intends to request U.N. sanction against vessels that are identified as participating in circumventions of United Nations Resolutions to counter North Korea's missile and nuclear programs. Open Source Center, a British organization, released a report Wednesday stating that it had tracked in the last year a number non-Korean-flagged vessels transporting North Korean iron ore and coal to ports in China in violation of U.N. sanction. James Byrne of Open Source Network identified several vessels at a U.N. Security Council meeting, including the Tanzanian flagged Armani and Sophia; the falsely flagged Cartier and Casio; and the unflagged Yi Li 1 & An Yu. Byrne claimed that the vessels were using sophisticated "spoofing techniques", such as presenting digital tracks which indicated they were in another country, even though satellite imagery showed they loaded in North Korea. U.S. Dorothy Camille Shea, the U.N. Ambassador, said that the Security Council will continue to draw attention to sanctions violations in spite of Russia's last-year veto of the mandate for the panel of expert who monitored violations on behalf the U.N. 1718 Committee on North Korea. She said: "In the next few days, we will be submitting nominations for the 1718 Committee vessels that were clearly identified in the Briefing to which Mr. Byrne refered for violations of U.N. sanction restrictions." Shea accused Russia "cynically" obstructing the implementation of sanctions, including through importation of North Korean shells and missiles to be used in its war against Ukraine. She claimed that Chinese authorities "looked the other way" when Chinese companies imported North Korean coal, iron ore and even though Beijing insisted it fully implemented the U.N. Resolutions. Geng Shuang said that China rejects "accusations" and "smearings" from the United States and that Washington is using the North Korea problem as a pretext to deploy strategic military forces that threaten the security of countries in the region, including China. Vasily Nebenzya, the Russian ambassador to the United Nations, dismissed criticisms of Russia's relationship and cooperation with North Korea. He said that it was Moscow’s sovereign right. Russia is "very grateful" to its Korean brothers for their assistance. Kim Song, North Korea's U.N. Ambassador, accused the United States in a statement of "highhandedness and arbitrariness", which should not be tolerated within the international community. (Reporting and editing by Deepa Babyington, with David Brunnstromm)
-
Port Sudan shook by explosions, army claims to have intercepted drones
Sudan's Army said that its anti-aircraft system intercepted drones on Wednesday, which were targeting a Naval Base in Port Sudan, the capital of wartime. There were explosions heard in the city. It was not immediately known if they were near Flamingo's base. Port Sudan was the target of days of attacks, including drone strikes reported by Sudan's paramilitary Rapid Support Forces. These assaults have destroyed the largest fuel depots in the country and damaged its main humanitarian aid gateway. Since the outbreak of the RSF-Army war in April 2023 that led to mass displacements, famine, and ethnically motivated killings, the Red Sea City has enjoyed relative peace. Port Sudan was the new base of the army-aligned regime after the RSF had swept the capital Khartoum during the beginning of the conflict. Drone strikes in Port Sudan have opened up a new front for the army after recent victories in the capital of central Sudan and the country's centre. The momentum has been swaying back and forth, with neither side looking like they will win the conflict. Both sides have drawn support from allies abroad. The war began as a result of a power battle between the RSF, the RSF army and the RSF. (Written by Enas Alashray; edited by Aidan Lewis).
-
Slovakia rejects EU plans to phase out Russian Gas by 2027
Robert Fico, the Prime Minister of Slovakia, said that the Slovak government rejects the European Commission's plans to phase-out Russian gas and other imports. The EU executive announced on Tuesday that it would introduce legal measures in the next month, to gradually phase out EU imports from Russia of gas and liquefied gas by 2027. These plans include measures that target Russian uranium enriched for nuclear power, which would be equivalent to a tax on imports. This move is part and parcel of the EU's commitment to ending its decades-old relations with Russia, its former largest gas supplier after its full-scale attack on Ukraine in February 2022. Fico said that he admired efforts to reduce the EU's energy dependency on third-country sources, but that the Commission’s proposals would hurt the EU by raising prices and reducing its competitiveness. Fico stated that it was "economic suicide" to stop using gas, nuclear energy, oil and all other forms of energy just because a new Iron Curtain between the West and Russia or perhaps other countries is being constructed. He said that Slovakia would strive to change the legislative process. The Commission will submit its legal proposals in June. These must be approved by the European Parliament, and the qualified majority of the member states. This means that one or two countries can't block the plans. Slovakia has received Russian oil and gas supplies. It also argued with Ukraine about its decision to stop gas flowing from the east across its territory at the end last year. Fico stated that there are questions about what would happen to Slovakia if it canceled its long term contract with Russian supplier Gazprom. About 19% of Europe’s gas is still imported from Russia through the TurkStream pipeline, and via LNG shipments. This is down from 45% in 2022. The Slovakian ministry reports that 10 of the 27 member states imported Russian gas in 2013. Due to the opposition of Slovakia and Hungary who receive Russian pipeline supplies, and maintain close ties with Russia, the EU has imposed sanctions against most Russian oil imports.
-
South Korea's MFG bids up to 140,000 t corn, traders claim
European traders reported on Wednesday that the Major Feedmill Group in South Korea (MFG) had issued an international tender for up to 140.000 metric tons animal feed corn from South America and South Africa. The deadline to submit price bids in the tender is May 8, Thursday. In the tender, Cargill Agri Purina, a MFG partner, is said to be involved. South America was asked to ship one consignment by August 30th, and South Africa between July 12 and 31st. Second consignment was requested for arrival on September 10, and shipment from South America between July 13 to August 1, or from South Africa between July 23 and August 11, if coming from South Africa. The tender is seeking price offers both in terms of outright cost per ton and freight included (c&f), or at a higher premium than the Chicago corn contract for September 2025. South Korean importers have continued to purchase heavy corn in the last two weeks, following a drop in Chicago corn prices. South Korean purchasing is usually ahead of world supply and demand for grains and oilseeds. Reportage The U.S. Department of Agriculture's (USDA) report can create market turmoil. The report must be submitted by Monday, May 12th. Reporting by Michael Hogan and editing by Eileen Soreng
-
South Korea's NOFI purchased about 66,000 T of corn in a private deal, traders claim
The leading South Korean feedmaker Nonghyup Feed Inc., (NOFI), purchased approximately 66,000 metric tonnes of animal feed corn on Wednesday in a private transaction without an international bid being issued. The United States, South America, or South Africa were all acceptable sources. The corn was purchased by NOFI's unit NH Feed for an estimated cost of $242.96 per ton, including freight (c&f), plus a $1.25 surcharge per ton for port unloading. NOFI's corn should arrive in South Korea by August 30. Seller is believed to be ADM trading house. Shipping dates for shipments originating from the Pacific Northwest Coast of the United States were between June 20 and august 15. Only 55,000 tonnes are required if the product is sourced from South Africa. The reports reflect the assessments of traders, and it is still possible to estimate prices and volume later. Michael Hogan is reporting.
-
The new carbon credit scheme aims to phase out coal in 60 plants by 2030
After receiving approval for its rulebook, the Rockefeller Foundation announced that it aims to sign 60 projects up by 2030 under a new carbon financing scheme to phase out coal-fired energy in developing countries. The International Energy Agency estimates that 2,000 coal-fired plants will need to be shut down by 2040 to achieve global climate goals, but only 15% of them are covered by pledges. The Rockefeller Foundation’s Coal to Clean Credits Initiative is one of many schemes in development which aim to use carbon financing to help them close them earlier than planned and replace them by renewable energy. Joseph Curtin, the Rockefeller Foundation’s director of "coal to Clean" said, "That target is our overall aim, our ambition." Verra, a carbon standards organisation, launched the CCCI methodology in Singapore on Tuesday. The method will determine which projects are eligible, and calculate emission reductions due to early coal plant closures, allowing for them to earn carbon credits. The South Luzon Thermal Energy Corporation plant (SLTEC) in the Philippines will be the first to implement the new methodology. The transaction is expected to be complete next year. "Obviously, if we close one transaction -- and we're much closer to doing so -- we think that would have a strong impact on the markets and hopefully send a message across the entire region that this was indeed possible." Curtin stated that his team has identified approximately 1,000 coal-fired power plants in developing nations which would be eligible for the method. He said that the 60 projects could bring in $110 billion of public and private investments by 2030. This was based on research commissioned by his foundation. The early retirement is supported by the Philippine energy company ACEN, together with Singapore's clean investment group GenZero and infrastructure conglomerate Keppel. The revenue from carbon credits would be used to pay for energy storage, support renewables, and protect local worker and community interests, according to Eric Francia, ACEN chief executive. CCCI has gone through seven rounds of consultations to determine its methodology. This was done in part to address the concerns of environmental groups who believe that carbon finance shouldn't be used to bailout coal asset owners. The risk is that you might be giving money to a stranded investment that won't be viable in the long run. Jonathan Crook, of Carbon Market Watch a research organization. Curtin said that the criteria for the CCCI initiative will only include projects that are profitable, owned by countries or companies that have committed to "no new coal", and that they also belong to those who have made a firm commitment. Although there is a ban on the construction of new coal-fired power plants in the Philippines for the time being, it's expected that new facilities approved prior to the ban will still be coming online in the next couple of years. Francia, ACEN's Director of Energy Transition, said that the early retirement SLTEC could still lead to progress in the energy transition. He said: "Ofcourse we need to manage perception, which admittedly is not good. But we look at substance and that's really the equation."
-
Spain's Endesa demands improvements to nuclear and power grid investment frameworks
In the wake of the unprecedented blackout last week, the chief of Spanish utility Endesa called on Wednesday for the country's politicians to examine the tax burden placed on nuclear power plants and improve the remuneration paid for investments in electricity grids. The power outage on the Iberian Peninsula that occurred on April 28, has reignited debates about the need to invest more in the grids to handle the increasing solar and wind output. "We need to build a resilient and robust grid. This requires significant investment, as well as fair remuneration," said Chief Executive Jose Bogas. He said that a diverse and competitive mix of generation is important. Bogas stated that "it is important to review the taxation on nuclear power in order to ensure its viability and to provide security of supply over many years." The nuclear lobby asked policymakers on Tuesday to lower taxes because they are making the plants uncompetitive in the market. Endesa stated that with the electricity demand continuing to grow and grid connections increasing, it is necessary to pay more for grid investments. The utility stated that the return on investment for the grid needs to be increased to 7.5%, from the current level of 5.6%. Also, the cap on the amount companies can invest into power grids should be reviewed. These comments come after Endesa released its earnings report, which showed that the company's first-quarter net profits doubled from 292 to 583 millions euros (or $662.00 million), beating expectations.
-
Maguire: Global energy exports slowing as trade concerns mount
The slowdown in the shipment of energy products is a reflection of the global economy which has been slowed by the new tough tariffs that President Donald Trump imposed so far this year. The exports of crude, gasoline, diesel, and thermal coal have all decreased from January to April of 2024 as a result of the increased trade uncertainty. The liquefied gas and chemicals sector has seen export volumes increase so far this season, but they are in danger of slowing down if the malaise that is already cooling the demand for fuels, oil and coal also cools power and manufacturing. Here is a summary of the major energy products markets in 2025. CRUDE CUTS Kpler, a commodity intelligence company, reports that the global export volume of crude oil between January and April was 4,93 billion barrels. This total was 1.3% less than the same period of 2024. The main reason for this was a drop of 9% in China's imports, which is the world's biggest crude importer and user. The United States (-14%) South Korea (-3%) Italy (-12%), and the Netherlands (-1%) are also major crude importers who have seen a drop in their purchases year over year. Imports into India (up by 1%), Japan (5%) and Taiwan (7%) have somewhat offset these declines. Kpler data revealed that India's crude oil imports for the window of January to April were record-breaking, as were those in Malaysia, Lithuania and Myanmar, Oman. The growth of crude sales in these markets is good news for the crude exporters. All those economies will continue to see their crude purchases grow over the next few years. It is not clear whether these growth markets can offset the declines in East Asia (China Japan South Korea and Taiwan). East Asia is the largest crude importer in the world. It has been responsible for 40% of all crude imports from 2019 onwards. East Asia has purchased 37% of the total crude oil exports so far in 2025. This is the lowest share in six years. In order to compensate for the lost East Asia crude volumes, it may be necessary to increase sales to new emerging markets. FUELS AND COAL The demand for gasoline fell by 5% between January and April compared to the same period a year earlier, due to economic concerns combined with the electrification of vehicle fleets. Kpler data show that only Singapore and Pakistan, among the top 10 gasoline importers in 2025 have seen an increase in their import volumes year over year. All major markets including the United States of America, Mexico, Malaysia and the United Arab Emirates as well as Nigeria have seen declines. Diesel, or gasoline, has also seen a decline in sales so far this season as the global trucking miles have been affected by reduced shipping. The total volume of diesel exports between January and April fell by 3% compared to a year earlier, reaching the lowest level for this period since 2022. In France, Turkey and Malaysia, there were steep import contractions, which revealed a wide range of declines in the use of gasoil. Diesel flows will continue to fall as a result of further contractions in the production and movement of goods. Thermal coal exports fell by 6.7% between January and April compared to the same months last year, as all traditional major importers, including China, India Japan, South Korea, and Taiwan, reduced their purchases. Imports increased in Vietnam, Turkey, the Netherlands and Bangladesh. Southeast Asia and North Africa are likely to be growth markets in the near future for coal exporters, owing to the demand for cheap energy in these economies. Total coal shipments are expected to continue to decline in the next few years if China continues to reduce its overall dependence on coal imports. Growth in LNG and Chemicals The export volume of LNG and chemical products has been increasing in contrast to the trend seen for crude oil, refined fuels, and coal so far in the year 2025. The total exports of LNG reached a record from January to April, with a little over 143 millions tons of super-cooled gas being shipped during this period. This volume was just 1% higher than in the same months of 2024. Any sustained drops in LNG shipments in the next few months could easily push the year-to date volumes in reverse. The sharp increase in natural gas prices in Asia, especially in comparison to coal, has slowed the demand for LNG so far in 2025. Any sustained decline in industrial activity in Asia will also further reduce LNG demand. The volume of chemical exports increased by 4%, reaching three-year records, from January to April. This was due to a stronger demand for imports in India, Brazil and South Korea. Any further economic weakness - particularly within manufacturing – would reduce demand for chemicals and ensure that the current pain being felt in the oil industry is spread across the entire energy sector. These are the opinions of the columnist, an author for.
Maguire: Global energy exports slowing as trade concerns mount
The slowdown in the shipment of energy products is in line with the global economic downturn caused by the new tough tariffs that U.S. president Donald Trump has imposed so far this year.
The exports of crude, gasoline, diesel, and thermal coal have all decreased from January to April of 2024 as the economies of the importer countries slow down in response to increased trade uncertainty.
Export volumes of liquefied gas and chemicals have increased so far this season, but they are in danger of slowing down if the malaise that is already cooling the demand for fuels, oil and coal also chills the manufacturing and power sectors.
Here is a summary of the major energy products markets in 2025.
CRUDE CUTTS
Kpler, a commodity intelligence company, reports that the global export volume of crude oil between January and April was 4,93 billion barrels.
This total was 1.3% less than the same period of 2024. The main reason for this was a drop of 9% in China's imports, which is the world's biggest crude importer and user.
The United States (-14%) South Korea (-3%) Italy (-12%), and the Netherlands (-1%) are also major crude importers who have seen a drop in their purchases year over year.
Imports into India (up by 1%), Japan (5%) and Taiwan (7%) have helped to offset these declines.
Kpler data revealed that India's crude oil imports for January to April were record highs, as well as those in Malaysia, Lithuania and Myanmar.
The growth of crude sales in these markets is good news for exporters. All those economies will continue to see their crude purchases grow over the next few years.
It is not clear whether these growth markets can offset the declines in East Asia (China Japan South Korea and Taiwan).
East Asia is the largest crude importer in the world. It has been responsible for 40% of all crude imports over the last few years.
East Asia has purchased 37% of the total crude oil exports so far in 2025. This is the lowest share in six years.
In order to compensate for the lost East Asia crude volumes, it may be necessary to increase sales to new emerging markets.
FUELS AND COAL
The demand for gasoline fell by 5% between January and April compared to the same period a year earlier, due to economic concerns combined with the electrification of fleets. Kpler data show that only Singapore and Pakistan, among the top 10 gasoline importers in 2025 have seen an increase in their import volumes year over year.
All major markets including the United States of America, Mexico, Malaysia and the United Arab Emirates, as well as Nigeria, have seen declines. Diesel, or gasoline, has also seen a decline in the first half of this year, as trucking mileage worldwide was affected by reduced shipment.
Diesel exports fell by 3% between January and April compared to a year earlier, reaching the lowest level for this period since 2022. Imports fell steeply in France, Turkey Malaysia and Mexico. This shows the wide range of declines in gasoil usage.
Diesel flows will continue to fall as a result of further contractions in the production and movement of goods.
Thermal coal exports fell by 6.7% between January and April compared to the same months last year, as major traditional buyers including China, India Japan South Korea, Taiwan, South Korea, and Taiwan reduced their purchases. Imports increased in Vietnam, Turkey, the Netherlands and Bangladesh - the main entry points for bulk commodities to mainland Europe.
Southeast Asia and North Africa are likely to be growth markets in the near future for coal exporters, due to their need for cheap energy.
Total coal shipments are expected to continue to decline in the next few years if China continues to reduce its overall dependence on coal imports.
Growth in LNG and Chemicals
The export volume of LNG and chemical products has been increasing in contrast to the trend seen for crude oil, refined fuels, and coal so far in the year 2025.
The total exports of LNG reached a record from January to April, with just under 143 million tonnes of super-chilled LNG shipped during this period.
This volume was just 1% higher than in the same months of 2024. Any sustained drops in LNG shipments in the next few months could easily push the year-to date volumes in reverse.
The sharp increase in natural gas prices in Asia, especially in comparison to coal, has slowed the demand for LNG so far in 2025. Any sustained decline in industrial activity in Asia will also further reduce LNG demand.
The volume of chemical exports increased by 4%, reaching three-year records, from January to April. This was due to a stronger demand for imports in India, Brazil and South Korea.
Any further economic weakness - particularly within manufacturing – would reduce demand for chemicals and ensure that the current pain being felt in the oil industry is spread across the entire energy sector.
These are the opinions of a columnist who writes for.
(source: Reuters)