2025-09-20 09:25

Sept 20 (Reuters) - China’s Sinopec has begun construction to upgrade its integrated refining and petrochemical project in the oil- and gas-rich Xinjiang region, the world’s largest refiner by capacity said on Saturday. The upgrade plan for the Tahe refining and chemical project includes expanding refining capacity and adding production capabilities for ethylene and paraxylene products, state-owned Sinopec (600028.SS) , opens new tab, said in a statement. Sign up here. The company said it will increase its crude oil refining capacity to 8.5 million tons per year from 5 million tons and build 16 refining and chemical units, including a 2.4-million-ton-per-year hydrocracking unit, a 1.5-million-ton continuous catalytic reforming unit, an 800,000-ton ethylene cracking unit and an 800,000-ton aromatics complex. The upgraded construction is expected to be finished by 2029. Upon completion and commissioning, the project is expected to generate approximately 20.2 billion yuan ($2.8 billion) in additional annual output value, based on a crude oil price of $60 per barrel. Sinopec, which is developing crude oil production capacity in the region, said in its 2025 interim results that 27.6 billion yuan ($3.9 billion), or 63% of first-half capital spending, was for exploration and development, mainly for capacity construction in Tahe and Jiyang in Fujian province. ($1 = 7.1151 Chinese yuan renminbi) https://www.reuters.com/business/energy/chinas-sinopec-upgrading-xinjiang-refining-chemical-project-2025-09-20/

2025-09-20 06:24

JAKARTA, Sept 20 (Reuters) - Two bodies have been recovered in the search for seven Freeport Indonesia workers trapped underground at a major copper mine since September 8 due to heavy mudflows, Indonesian media reported. The team is still looking for the other workers and the identification process will begin when police arrive, media outlets quoted a company spokesperson as saying. Sign up here. Representatives for Freeport Indonesia (FCX.N) , opens new tab and the local police did not immediately respond to a Reuters request for comment. After the incident at Grasberg, one of the world's biggest copper mines, Freeport suspended operations at the mine's main production block, senior Indonesian mining ministry official Tri Winarno said this week. He added that smaller sites were up and running. In addition to five Indonesians, the workers included a Chilean and a South African, Tri said. https://www.reuters.com/world/asia-pacific/two-bodies-found-search-freeport-indonesia-workers-trapped-mine-reports-say-2025-09-20/

2025-09-20 06:05

NEW DELHI, Sept 20 (Reuters) - The central Indian state of Madhya Pradesh has secured India’s lowest-ever price for buying solar power backed by battery storage in a clean energy auction, a top state official said, in a deal that could reshape how states buy power. CEIGALL India (CEIG.NS) , opens new tab and ACME Solar (ACMO.NS) , opens new tab won the tenders to supply clean power to Madhya Pradesh at 2.70 rupees (about 3 U.S. cents) per kWh and 2.764 rupees per kWh, respectively, the official said on Saturday. Sign up here. The lower price at which solar power can be supplied using battery storage could set a precedent for other states, showing them that renewable energy with storage can be cheaper than coal, said Manu Srivastava, a top official at the state's Power and Renewable Energy Department. The project has two units, each delivering 220 megawatts of power during sunny hours using solar panels, and in the evenings drawing power from batteries charged by solar energy. In the mornings, before the sun has charged the panels, the units draw power from those same batteries, which have been recharged with cheaper night-time electricity from the grid. The state is planning longer-duration storage projects and aims to eventually offer 24-hour renewable power at rates comparable to coal power, Srivastava said. The lower prices come as India is rapidly adding to its renewable energy capacity, aiming to expand its non-fossil fuel capacity to 500 GW by 2030. Coal power, however, remains central to the country's energy strategy because of the need for stable power during non-solar hours and the absence of viable, affordable storage projects. ($1 = 88.0950 Indian rupees) https://www.reuters.com/sustainability/climate-energy/central-indian-state-secures-record-low-price-solar-plus-storage-power-project-2025-09-20/

2025-09-20 03:36

BEIJING, Sept 20 (Reuters) - China's exports of rare earth magnets in August jumped for a third straight month to hit a seven-month high, indicating a steady recovery in outflow of the minerals key to electric vehicles after Beijing's curbed shipments in April. August's outbound shipments from the world's largest rare earth magnet supplier climbed 10.2% from July to 6,146 metric tons, up 15.4% from the year before, data from the General Administration of Customs showed on Saturday. Sign up here. The increase follows a series of agreements between Beijing and the United States and Europe to expedite shipments and ease export controls that China had imposed in April in response to U.S. tariffs. By country, however, exports of 590 tons to the United States were down 4.7% from the month before and down 11.8% from August last year. https://www.reuters.com/markets/commodities/chinas-rare-earth-magnet-exports-rise-102-august-july-2025-09-20/

2025-09-20 03:14

Sept 19 (Reuters) - Tesla (TSLA.O) , opens new tab has been approved to start testing autonomous robotaxi vehicles with a safety monitor in Arizona, the state transportation department said in an email to Reuters on Friday. Tesla had applied in June for a permit to begin trials for an autonomous vehicle ride-sharing service, and now plans to test robotaxis in the Phoenix Metro area using safety drivers, the Arizona Department of Transportation said in its email. Sign up here. Tesla did not respond to a Reuters request for comment. It was not immediately clear when the trials would start or how long they would last. Tesla Chief Executive Elon Musk previously stated that Tesla plans to launch an autonomous ride-hailing service to about half of the U.S. population by the end of this year. Tesla rolled out a small test of its robotaxi service in a limited area of Austin, Texas, in June, with about a dozen vehicles, a select group of passengers and many restrictions, including a safety monitor in the front passenger seat. https://www.reuters.com/business/autos-transportation/tesla-wins-approval-test-autonomous-robotaxis-arizona-2025-09-20/

2025-09-19 23:47

Sept 19 (Reuters) - The Trump administration blocked U.S. Steel's plan to shut down production at one of its plants in Illinois, flexing its so-called golden share authority, the Wall Street Journal reported on Friday, citing a person familiar with the matter. U.S. Steel, now owned by Tokyo-based Nippon Steel(5401.T) , opens new tab, said in a statement on Friday that it has reversed its decision to shut down the plant, which employs nearly 800 workers. Sign up here. According to media reports, the company had likely planned to halt production at the plant in November. Commerce Secretary Howard Lutnick told U.S. Steel CEO Dave Burritt that the U.S. president would use his "golden share" authority to ensure operations did not cease, the report added. https://www.reuters.com/business/trump-invokes-golden-share-block-us-steel-plans-illinois-plant-wsj-reports-2025-09-19/