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Indian trains invest over $22 billion on modernisation
Staterun Indian Railways has spent more than $22 billion so far in the present fiscal year, concentrating on jobs to broaden capacity and provide faster and much safer travel to guests, the government stated on Wednesday. The federal government is pressing to open new lines and expand electrification as part of efforts to accomplish net zero carbon emissions on the railways by 2030. By Jan. 5, the railways had actually spent 1.92 trillion rupees ($ 22.37 billion) of its 2.65 trillion rupees general budget plan for the , which runs from April to March. This included 344.12 billion rupees ($ 4 billion) invested in safety-related works and 403.67 billion rupees ($ 4.7 billion) on rolling stock, the government said in a statement. Finance Minister Nirmala Sitharaman, who will present her yearly budget plan for 2025/26 early next month, is expected to announce an increase in allotment for trains from the 2.52 trillion rupees allocated for the present . The train, which runs a network of over 68,000 km ( 42,000 miles), is predicted to earn 2.8 trillion rupees in 2024/25 from traveler and freight traffic, an 8% boost from the previous. It is targeting 2.76 trillion rupees in operational spending. The fruits of consistent capital expenditure over the past years appear in the form of 136 Vande Bharat trains, 97%. electrification of broad-gauge lines, and significant upgrades to. facilities, including brand-new lines, gauge conversion, and track. doubling, the declaration stated. The Vande Bharat sleeper trains, presently undergoing speed. and safety certification, are anticipated to come into service this. year, enhancing long-distance rail travel. Indian Trains carries approximately 23 million. passengers daily, intending to construct a future-ready system for. India's 1.4 billion population, the train ministry said. Critics say the railways face numerous challenges, consisting of. competitors from an expanding roadway network and growing air. traffic coupled with issues like sluggish train speeds and. overcrowding.
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United States gas-fired power boom reveals key emissions reward in 2024: Maguire
For the first time, over 1 billion metric tons of co2 (CO2) was discharged from U.S. gasfired power stations in a single year during 2024, marking a new contamination limit for the world's. largest gas producer and consumer. The 1.003 billion ton emissions figure is 3.6% up from 2023,. and marks a 40% dive in gas-fired power generation emissions. considering that 2015, according to information from Coal. Those numbers look big, however lack important context. Discharge from the U.S. fleet of coal-fired power stations was. simply under 620 million loads last year, a record low due to the. tiniest coal-fired power generation level on record. And as U.S. coal plants discharge 77% more CO2 per unit of. electricity than gas-fired plants, the lower coal generation. overalls expose that the U.S. power system has in fact made steep. cuts to total contamination even as gas emissions have actually climbed up. COAL VS CLEAN Thanks to the cuts to coal usage, overall U.S. power emissions. from all nonrenewable fuel sources were up just 0.5% in 2024 from 2023 to. 1.64 billion heaps, and were down 19% since 2015. What's more, that emissions load has decreased regardless of overall. electricity generation climbing to all-time highs in 2024. A fast climb in electrical power generation from tidy power -. including from solar, wind, hydro and nuclear properties - has. helped fulfill much of the increase in usage recently. Overall clean electricity generation was 35% greater in 2024. than in 2015, thanks mainly to a nearly eightfold increase in solar. generation and a more than doubling in output from wind farms. during that period. But fossil fuels stay the foundation of the U.S. generation. system, providing just over 58% of all electrical energy last year. Gas accounted for a record 73% of that fossil share,. while coal plants provided the remaining 26% approximately. Power companies prepare to make more cuts to coal use over the. remainder of this years, while including more renewables to the. generation mix to make sure total electrical energy materials continue to. climb in line with need. However power suppliers are also set to become much more dependent. on gas, specifically for system-balancing needs whenever. periodic output from renewable resource sources disappoints. general demand requirements. GAS FIX Over 30 U.S. states depend on natural gas for 30% or more of. their electrical power requires, according to Coal. Thirteen of those states count on gas for 50% or more of. their electricity, while an extra 9 states use gas for. between 15% and 30% of their electrical energy. Nearly 50 gas-fired plants are in. pre-construction or are under building across the U.S.,. according to Global Energy Monitor, with a combined capability of. near 30,000 megawatts. That heavy dependence on legacy and new power plants and. pipelines suggests that gas will remain essential to the. U.S. power system for decades, even as renewable generation. totals continue to climb up. That in turn indicates that total emissions from natural gas. usage in the U.S. will also continue to climb. However a few of those gas plants will be utilized to change. retiring coal power stations, which usually have currently been. operating for 45 years according to the U.S. Energy Details. Administration. That indicates even as more gas capacity comes on line, some of. the highest-polluting U.S. coal plants will be shuttered over. roughly the same period, which should assist cap general fossil. fuel pollution even as the U.S. power system gets ever gassier. The viewpoints revealed here are those of the author, a market. expert .
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Financial Times - Jan. 8
The following are the top stories in the Financial Times. Reuters has not validated these stories and does not vouch for their accuracy. Headings - Fujitsu's UK goodwill eliminated in wake of Post Office scandal - Apple steps up growth of its News platform - Shein implicated of 'not respecting' UK MPs in grilling on labour practices - Thames Water junior lenders implicate rivals of 'predatory'. loan conditions Summary - Fujitsu's choice to limit bidding for UK. government agreements following the Post Workplace Horizon scandal. has actually resulted in a total write-off of goodwill worth on the balance. sheet of its UK company. - Apple plans to broaden its News app to new. countries, boost UK-focused news protection, and present its. puzzles area in the UK, intending to boost its influence in the. releasing industry, sources state. - Shein has come under fire from UK MPs for not appreciating. a cross-party parliamentary committee as the online fast-fashion. seller dealt with examination over its labour practices and strategies to. list on the London stock exchange. - Thames Water's junior bondholders have actually accused the. having a hard time utility's senior financial institutions of imposing predatory. conditions to a 3 billion pounds
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British Grid warns about tight supply of electricity on Wednesday evening
The National Energy System Operator in Britain (NESO) warned on Wednesday night of a shortage of electricity and urged the utilities to increase their power supply. The NESO has a number of measures to make sure there is enough power to meet the demand. On Tuesday evening, as the cold weather gripped much of Britain, the government issued an electricity margin notification asking generators to provide more power on Wednesday night. It said that at 1200 GMT there was still a possible system margin of 1,120 Megawatts short of what it wanted to have available. The notice was also withdrawn shortly afterwards. The capacity market scheme pays generators to ensure that power is available when the demand is high. In an emailed message, a NESO spokeswoman said that "these notices do NOT mean that the electricity supply is at risk or there is not enough to meet demand." Both of these notifications are part of NESO’s operational toolkit, and are routinely used during winters. Reporting by Susanna Twidale, Editing by Bernadettebaum and Kevin Liffey
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South Korea's KFA Busan purchased 65,000 T of corn in a private deal, traders claim
According to European traders, the Korea Feed Association in South Korea bought an estimated 65,000 tons of animal feed grain in a private transaction on Wednesday. There was no international tender. The corn was purchased by KFA Busan and believed to have come from United Grain Corporation for an estimated cost and freight of $238.40 per ton plus a $1.50 surcharge per ton for port unloading. Arrival in South Korea was expected around March 20. If the shipment originated from the U.S. Pacific Northwest Coast, it was made between February 5 and March 5, 2019. The reports reflect the assessments of traders. Further estimates on prices and volume are possible in the future. The deal was made amid concerns that Argentina's corn crop may be damaged by dryness and in advance of the U.S. Department of Agriculture's (USDA) monthly estimates of world agricultural demand and supply on Friday. Michael Hogan is reporting.
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South Korea's MFG purchases 132,000 T of corn in a private deal, traders claim
Major Feedmill Group of South Korea (MFG) bought an estimated 132,000 tons of animal feed in a private transaction on Wednesday, without holding an international tender. Two consignments of 66,000 tons were purchased. The origins could be anywhere in the world. Both were purchased at an estimated cost and freight of $238.33 per ton (c&f), plus an extra $1.25 per ton for port unloading. Both consignments were believed to have been sold by ADM, a trading house. They arrived in South Korea on March 30th for one and April 12th for the other. The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later. The purchase followed a previous purchase of 140,000 tons animal feed corn by South Korean animal food maker NOFI in an international auction on Wednesday. Michael Hogan reports.
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Maguire: US gas-fired energy boom will have major emissions benefits in 2024.
In 2024, the United States' gas-fired electricity stations released over 1 billion tons of CO2 in one year. This is a record for the largest gas consumer and producer in the world. According to Ember, the 1.003 billion tons of emissions is a 3.6% increase from 2023 and a 40% increase in emissions from gas-fired electricity generation since 2015. These numbers are large but they lack context. The discharge from the U.S. coal-fired stations last year was just over 620 million tonnes, a new record low because of the lowest coal-fired electricity generation ever recorded. The lower coal production totals show that the U.S. electricity system has made significant reductions in overall pollution, even though gas emissions are on the rise. COAL VS CLEAN The reduction in coal usage has resulted in a total increase of only 0.5% from 2023, to 1.64 billion tonnes, but a decrease of 19% from 2015. This is despite the fact that total electricity production will reach a record high in 2024. The rapid growth in clean energy generation, including solar, wind and hydro assets, has helped to meet most of the increase in consumption over recent years. The total clean electricity production was 35% greater in 2024 than it was in 2015. This is primarily due to the nearly eightfold increase in solar power and a more-than-doubling of output from wind farms. Fossil fuels are still the mainstay of U.S. electricity generation, providing just over 58% last year. The fossil fuel share was 73% natural gas, and 26% coal. The power companies plan to further reduce coal consumption over the rest of the decade while adding renewables to their generation mix in order to keep up with the demand for electricity. Power suppliers will also become more dependent on natural gas in the future, especially to balance systems when intermittent energy production from renewable sources is not enough to meet overall demand. GAS FIX Ember reports that over 30 U.S. States rely on gas to meet 30% or more their electricity requirements. Gas is used in 13 of these states to generate 50% or more electricity. Nine additional states rely between 15% and 30% on gas. According to Global Energy Monitor's report, there are also nearly 50 gas-fired power plants in the U.S. that are either under construction or pre-construction, with a total capacity of around 30,000 megawatts. Natural gas is a major component of the U.S. energy system, and will continue to be so for many decades to come. This means that the overall emissions of natural gas in the U.S. are also expected to continue increasing. Some of these gas plants are being used to replace coal power stations that have been in operation for an average of 45 years, according to the U.S. Energy Information Administration. This means that even though more gas capacity is coming online, some of the most polluting coal plants in the U.S. will be shut down over the same period. This should help to cap overall fossil fuel emissions even as the U.S. energy system becomes ever gassier. These are the opinions of the author who is a market analyst at.
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Guyana's oil exports increase, gaining a market share of Europe in 2024
Guyana's oil output increased 54% to 582,000 barrels a day last year, fueled by European refiners who wanted to replace Middle Eastern crude grades with sweet crudes that were easy to process. The burgeoning oil country has become the fifth largest Latin American crude oil exporter since it began exporting oil early in 2020. It is now behind Brazil, Mexico and Venezuela. Guyana's lighter, sweeter crude grades are gaining market share in Europe. Most refineries there aren't as complicated as those on the Gulf Coast and Latin America, which typically offer heavy, sour oils. A trader for Latin American grades who was not authorized by the media to speak said that Europe is the best market for Guyana crude. He added that Europe was the fastest to adopt and test Guyana's crude grades, Liza, Unity Gold, and Payara Gold, due to their proximity, high quality, and ease of access to suppliers. Shipping data shows that in 2024, Guyana exported 66% or 388,000 bpd of its crude oil to Europe compared to 62% last year. Guyana's crude oil gained popularity in Europe after the Russian invasion of Ukraine 2022. Many refiners avoided sanctioned Russian oil and sought alternative supplies. Homayoun Falikshahi is a senior analyst at Kpler, who specializes in data analytics. He said that last year, the attacks in the Red Sea affected the oil flows coming from the Middle East. This gave crudes from Guyana, Brazil and other countries a better chance of finding buyers in Europe. He added that the higher freight costs for moving oil from the Persian Gulf into the Mediterranean or Northwest Europe made Guyanese Crude more attractive to European refiners. OPENING ROUTES The LSEG data also showed that exports from Guyana to the United States almost doubled last year, to 23,000 bpd. Exports to Asia increased by a smaller amount, to 139,000 bpd. The sales to Latin America and Caribbean remained almost the same at 32,000 bpd. Exports have increased due to the expansion of three floating production units led by U.S. oil giant Exxon Mobil. A fourth facility is expected to add 250,000 bpd capacity in this year. According to Kpler, Exxon Fawley refinery is the largest buyer of Guyanese oil in Europe. Exxon Hess, CNOOC and Exxon Hess, who control the entire oil and gas production in Guyana sell their barrels individually, whereas the Guyanese Government awards each year a marketing contract for its share of the output. BB Energy, a European trading firm, and JE Energy, a global energy company won the contract in 2025 for a second consecutive year. The auction was held in a highly competitive environment with other producers from around the world. In October, the government announced that it had secured a higher premium than market prices this time. Guyana's Energy Minister Vickram Bharrat said that since the two trading companies are based in Britain, they were expected to market the crude oil in Europe successfully. "However there is no preferential market," he said in reference to the markets that the government would most like to see its oil reach. Exxon's consortium currently has three projects in operation - Liza 1 & 2, and Payara. These were producing around 675 000 bpd by the end of last year after upgrades. Exxon will receive a fourth production vessel within the next few months and begin work on Yellowtail this year. Exxon has not commented on its Guyanese crude oil marketing efforts. However, last month it said that 60% of the company's upstream production will come from its "advantaged asset" which includes Guyana.
Hong Kong airport operator prepares HK dollar and yuan bond offer, sources state
Airport Authority Hong Kong is aiming to raise approximately HK$ 22 billion ($ 2.8 billion) in Hong Kong dollar bonds and approximately 4 billion yuan ($ 546.3 million) in Chinese yuan bonds, according to 2 sources with direct understanding of the matter.
The operator of Hong Kong airport is planning the offer including 3-, 5-, 10- and 30-year Hong Kong dollar bonds and 10- and 30-year Chinese yuan bonds, according to a term sheet evaluated on Tuesday.
The size of the Hong Kong dollar tranche is expected to be HK$ 15 to HK$ 22 billion and the Chinese yuan tranche is 3 to 4 billion yuan, the sources stated.
The sources asked for privacy due to the personal nature of the conversations.
Airport Authority Hong Kong did not right away respond to an emailed request for comment from Reuters.
(source: Reuters)