2025-07-22 07:44

EU sanctions disrupt Nayara's refined product exports BP releases tanker for charter in India or Middle East Nayara condemns EU sanctions, India opposes unilateral sanctions SINGAPORE/NEW DELHI, July 22 (Reuters) - A tanker chartered by energy major BP left a port run by newly sanctioned Indian refiner Nayara Energy without loading, according to five industry sources and LSEG shipping data, a sign fresh European Union curbs on Russia are beginning to bite. The vessel Talara was supposed to load 60,000 metric tons (447,000 barrels) of ultra-low sulphur diesel on July 21 at Nayara's Vadinar port in western India, with the cargo bound for Africa, LSEG data showed. Sign up here. Nayara, partly-owned by Russia's largest oil producer Rosneft (ROSN.MM) , opens new tab, and BP (BP.L) , opens new tab did not immediately respond to requests for comment. The sources declined to be named as they were not authorised to speak to the media. The change in loading plan suggests that EU sanctions imposed on Nayara on Friday are disrupting refined products exports from the Russia-backed refiner, one of the two private fuel exporters in India. The Talara did not load the cargo after the EU imposed the sanctions, one of the sources said. The sanctions package against Russia over its war in Ukraine is aimed at dealing further blows to Russia's oil and energy industry. BP subsequently released the ship, making it available for charter within India or the Middle East region, two of the sources said. On Monday, Nayara said in a statement that it condemned the EU's "unjust and unilateral" decision to impose sanctions on the company, while India said on Friday it did not support the EU's "unilateral sanctions". Following the EU sanctions, Nayara Energy amended the terms of a naphtha tender issued on Monday to obtain payment in advance, a tender document seen by Reuters showed. Another vessel, Panamax-sized tanker Pacific Martina, chartered by Shell (SHEL.L) , opens new tab, arrived at Vadinar on July 18 to load jet fuel, LSEG and Kpler data showed. After loading jet fuel from Nayara, the partially loaded Pacific Martina has been anchored off the port next to Talara, LSEG data showed on Tuesday. PetroChina has also provisionally chartered medium-ranged tanker Chang Hang Xing Yun to load 35,000 tons of gasoil on July 29-31 from Vadinar port with the option to discharge the cargo at Singapore or Chittagong, Bangladesh, shipping fixtures from shipbrokers showed. Shell and PetroChina did not immediately respond to a request for comment. https://www.reuters.com/business/energy/bp-chartered-tanker-leaves-port-sanctioned-nayara-without-loading-sources-say-2025-07-22/

2025-07-22 07:40

BEIJING, July 22 (Reuters) - Prices of coking coal futures in China hit their ceiling for a second successive session on Tuesday, amid market chatter about potential government inspections in China's major coal production hubs that might lead to supply disruptions. The most active China coking coal contract on the Dalian Commodity Exchange jumped nearly 8% to its highest price since March 19 at 1,048.5 yuan ($146.19) a metric ton. Sign up here. A document purported to be from the National Bureau of Energy calling for inspections at coal mines in eight provinces to determine whether production exceeded licensed capacity played a part in the price rise, said Simon Wu, a senior consultant at Wood Mackenzie. "This could potentially reduce the effective supply to the market," he said. Reuters could not verify the authenticity of a document circulating on social media from the Henan provincial government which contained inspection orders from the NBE. A phone call to a number in the document was answered by someone who said they were following instructions from the NBE and not to call again. The NBE did not immediately respond to a request for comment. Coking coal prices have gained 28% so far in July after a visit to Shanxi, China's top coal production hub, by President Xi Jinping earlier this month sparked speculation about a fresh wave of supply reform. ($1 = 7.1723 Chinese yuan) https://www.reuters.com/business/energy/chinas-coking-coal-prices-hit-daily-limit-again-chatter-about-government-mine-2025-07-22/

2025-07-22 07:37

BEIJING, July 22 (Reuters) - China's foreign exchange regulator said on Tuesday that it has not seen "irrational" trading activities for now. Li Bin, the deputy head of the State Administration of Foreign Exchange (SAFE), said that the yuan has been trading basically stable at reasonable and balanced levels so far this year. Sign up here. Overseas investors in general have increased their net holdings of onshore equities and bonds in the second quarter of this year, Li told a press conference in Beijing. He added that supply and demand in the foreign exchange market are basically stable. https://www.reuters.com/sustainability/boards-policy-regulation/china-does-not-see-irrational-trading-activities-yuan-stable-fx-regulator-says-2025-07-22/

2025-07-22 07:32

MADRID, July 22 (Reuters) - Spain has increased the amount of gas it burns to produce electricity as its power grids rely more on conventional gas-fired plants since a major blackout on April 28, gas grid operator Enagas (ENAG.MC) , opens new tab said on Tuesday. Conventional power plants like gas-fired combined cycle plants provide more stability to the grid's voltage than renewable sources such as wind farms and photovoltaic panels. Sign up here. As a result, overall national gas demand rose 5.6% in the first half of the year, boosted by a 41.2% increase in demand to generate electricity, Enagas said. Gas exports also rose in the period, in particular flows to France to fill its underground storage. Spain does not produce natural gas but re-exports gas shipped from producers such as the United States, Qatar and Russia to other European countries. "Gas infrastructure plays a critical role in ensuring the security of the energy and electricity system and enabling the energy transition in Spain and Europe," Enagas Chief Executive Arturo Gonzalo said on Tuesday. Spain's own underground gas storage facilities are over 75% full, he said, adding that this is above the 64% minimum the European Commission set for July 2025. https://www.reuters.com/sustainability/boards-policy-regulation/spains-gas-demand-soars-power-plants-burn-more-since-blackout-2025-07-22/

2025-07-22 07:25

22 luglio (Reuters) - Il dollaro si muove in stretto range, dopo un breve calo all'inizio della settimana, con gli investitori in attesa di eventuali progressi nei colloqui in vista della scadenza del 1° agosto, che impone ai paesi di raggiungere accordi commerciali con gli Stati Uniti, pena l'imposizione di dazi doganali elevati. ** Lo yen mantiene per lo più i guadagni della sessione precedente, dopo che l'esito delle elezioni giapponesi per la Camera non si è rivelato peggiore di quanto già scontato. Sign up here. ** La valuta nipponica si è leggermente indebolita a 147,57 dollari, dopo essere salita dell'1% ieri. ** L'euro si è leggermente indebolito a 1,1689 dollari, con l'attenzione rivolta anche alla decisione sui tassi da parte della Banca Centrale Europea, prevista per giovedì, quando i policymaker dovrebbero lasciare i tassi invariati. ** Rispetto a un paniere delle principali divise, il biglietto verde è in modesto progresso a quota 97,882, dopo essere sceso dello 0,6% ieri. https://www.reuters.com/world/africa/dollaro-cerca-di-direzione-attende-maggiore-chiarezza-su-dazi-2025-07-22/

2025-07-22 07:20

Shares rise 3.5% on core profit beat Hydro slashes 2025 spending by NOK 1.5 bln Plans to cut 100 jobs at Hydro Extrusions July 22 (Reuters) - Norwegian aluminium producer Norsk Hydro (NHY.OL) , opens new tab cut its 2025 capital spending guidance by 1.5 billion crowns ($147.5 million) and froze external white-collar hiring on Tuesday, as input costs are volatile and demand uncertain due to U.S. tariffs. U.S. tariffs on aluminium have roiled trade flows and pushed physical market premiums to record highs, amplifying cost pressures for American buyers and redrawing global supply lines. Sign up here. The Norwegian firm plans to cut more than 100 jobs at its Hydro Extrusions division by 2025, prioritising operational efficiency and cost control. "We have so far not seen big changes to our operations from tariffs and potential trade wars. Our main concern is whether the uncertainty will lead to a global economic downturn," CEO Eivind Kallevik said in a statement. Hydro reported a 33.4% rise in second-quarter core profit, helped by higher aluminium and energy prices, and despite cost pressures from pricier raw materials, notably alumina, as well as forex rate impact. Its shares were up 3.5% in early trading in the pan-European 600 index (.STOXX) , opens new tab. Order bookings for some business areas showed early signs of improvement, especially for domestic producers benefiting from lower imports, the company said. The results beat expectations despite weakness at the bauxite and alumina and aluminium metal divisions, as the so-called other and eliminations segment bolstered earnings, analysts said. The U.S. remains heavily reliant on imports, with Canada alone supplying over two-thirds of its aluminium. The new 50% levies have made it costlier to bring in foreign metal into the world's largest economy. With Chinese smelters churning out record volumes of aluminium and looking to offload surplus abroad, barriers in the West have offered short-term relief to companies like Hydro by lifting regional premiums and curbing low-cost competition. Hydro's adjusted earnings before interest, taxes, depreciation and amortisation rose to 7.79 billion Norwegian crowns in April-June from 5.84 billion crowns a year earlier. Analysts on average had expected it to report a core profit of 7.30 billion crowns, according to a company-compiled consensus , opens new tab. The company's 2025 capital spending guidance now stands at 13.5 billion crowns. ($1 = 10.1730 Norwegian crowns) https://www.reuters.com/markets/commodities/aluminium-producer-norsk-hydro-trims-2025-spending-amid-global-trade-risks-2025-07-22/