2024-04-02 18:55

WASHINGTON, April 2 (Reuters) - The U.S. Transportation Department's Federal Railroad Administration (FRA) said Tuesday it will require major railroads to have at least two crew members for most trips. The final rule creates a special approval process for railroads seeking to initiate new one-person train crew operations and requires trains carrying some hazardous waste to have two-person crew. The Association of American Railroads, an industry trade group, criticized the rule, saying the agency "is doubling down on an unfounded and unnecessary regulation that has no proven connection to rail safety." Transportation Secretary Pete Buttigieg rejected the criticism. "I would also appeal to common sense - the simple idea that a moving object that is more than two miles long ought to have at least two human beings on it," Buttigieg said. "I don't know what problems the railroads could possibly hope to solve by reducing it to one other than to take their profits from ridiculous to stupendously ridiculous." In 2019, the administration of then President Donald Trump withdrew a proposed regulation on crew staffing, saying "no regulation of train crew staffing is necessary or appropriate for railroad operations to be conducted safely at this time." Greg Regan, President of the Transportation Trades Department (TTD) of the AFL-CIO union federation, praised the Biden administration rule, saying it "acknowledges that crew size is fundamentally a safety issue at its core .... Two-person crews are inherently necessary to ensure the safe operation of our rail systems." The issue of rail safety has garnered new attention since the February 2023 derailment of a Norfolk Southern (NSC.N) , opens new tab operated train in East Palestine, Ohio. The train caught fire and released over a million gallons of hazardous materials and pollutants. Legislation in Congress to strengthen rail safety rules has stalled in the face of industry opposition. FRA Administrator Amit Bose said in June the agency was conducting safety assessments of all major U.S. railroads and issued a critical review of Norfolk Southern. On Tuesday, Bose said the agency has completed a review of BNSF, owned by Berkshire Hathaway (BRKa.N) , opens new tab, and would complete remaining ones this year including of Union Pacific (UNP.N) , opens new tab and CSX (CSX.O) , opens new tab. Get weekly news and analysis on the U.S. elections and how it matters to the world with the newsletter On the Campaign Trail. Sign up here. https://www.reuters.com/world/us/us-require-two-person-crews-most-train-operations-2024-04-02/

2024-04-02 12:19

BEIJING, April 2 (Reuters) - China's commerce ministry said on Tuesday it firmly opposes a United States' report on foreign trade barriers, which it said "listed China as a country of primary concern". The U.S. National Trade Estimate Report on Foreign Trade Barriers released on March 29 "did not provide any evidence to prove that China's relevant policies and practices violated WTO rules, but arbitrarily accused China of having so-called 'non-market' policies and practices and barriers in agricultural products and data policies", a ministry spokesperson said in a statement. The U.S. should stop making "false accusations" against other countries, abide by WTO rules and maintain a fair and just international trade order, the spokesperson added. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. https://www.reuters.com/world/china-opposes-us-trade-barriers-report-listing-it-primary-concern-2024-04-02/

2024-04-02 12:01

ALMATY, April 2 (Reuters) - The operator of Kazakhstan's giant offshore Kashagan oilfield denied reports of an oil spill near the field and said on Tuesday its facilities were working normally. Globus, an ecological organisation in the Central Asian nation, said earlier on Tuesday that satellite imagery had captured a large oil spill in the northern Caspian Sea near Kashagan. Globus director Galina Chernova posted on Facebook that a slick of around 7 square km (2.7 square miles) had formed, citing images from Sentinel-1A, a European satellite. But NCOC, largely owned by Western oil majors which operate the field, said those satellite images showed some different, natural phenomenon, and subsequent shots of the same location showed nothing unusual. The company said it had studied the area and found no irregularities. Kashagan, one of Kazakhstan's largest oil fields, is being developed by the North Caspian Operating Company (NCOC) consortium, which includes Shell (SHEL.L) , opens new tab, Eni (ENI.MI) , opens new tab, TotalEnergies (TTEF.PA) , opens new tab and Exxon Mobil (XOM.N) , opens new tab. The ecology department of Kazakhstan's Atyrau region, which borders the Caspian, has also said it would conduct a visual inspection and take samples at the oil production site. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. https://www.reuters.com/world/ecologists-report-oil-spill-near-kazakhstans-giant-kashagan-oil-field-caspian-2024-04-02/

2024-04-02 12:00

LAUNCESTON, Australia, April 2 (Reuters) - China and India lifted imports of seaborne thermal coal to three-month highs in March as the world's two biggest buyers took advantage of lower international prices of the fuel to meet strong domestic power demand. China, the world's biggest coal producer and importer, saw arrivals of seaborne thermal coal of 29.7 million metric tons in March, according to data compiled by commodity analysts Kpler. This was up from 23.03 million tons in February and was also higher than the 28.62 million in March 2023. For the first quarter, China's seaborne imports of the grade of coal used mainly to generate electricity were 80.64 million tons, up 17.2% from the 68.82 million recorded in the same period in 2023. The strength in China's imports is being driven by a combination of strong growth in power demand and by seaborne prices being competitive with domestic coal. Official data showed China's power consumption was 11% higher in January and February this year compared to the same months in 2023, and power generation rose 6.9% in 2023, outpacing the 5.2% growth rate for the economy as a whole. China's electricity demand is being boosted by a variety of factors, including increasing electrification of the vehicle fleet, higher demand from air conditioners and appliances, and increased electrification of industrial processes, such as some types of smelting. A drop in hydropower output amid drought has also boosted fossil fuel generation, predominantly coal-fired, further lifting demand for the fuel. China's domestic coal prices have also remained relatively high with thermal coal at Qinhuangdao ending at 825 yuan ($114) a ton on Monday. While this is down from a recent peak of 940 yuan on Feb. 27, the prices of seaborne grades popular in China have also been declining. Australian coal with an energy content of 5,500 kilocalories per kilogram (kcal/kg) , as assessed by commodity price reporting agency Argus, slipped to $87.37 a ton in the week to March 28, down from the recent high of $96.66 in the seven days to March 1. Indonesian coal with an energy content of 4,200 kcal/kg ended last week at $55.70 a ton, down from the recent high of $58.17 from the week to March 8. Even allowing for freight costs, Chinese import duties and differences in energy content, imported seaborne grades are currently slightly cheaper than domestic supplies, especially for utilities in China's southeast. The competitiveness of seaborne grades can be seen in China's imports, with arrivals of 20.24 million tons of Indonesian thermal coal in March, up from 16.96 million in February. Imports of Australian thermal coal hit a three-month high of 5.08 million tons in March, up from 3.45 million in February. INDIA STRENGTH It's a similar story for India, where robust growth in power demand is fuelling coal imports, which reached 15.21 million tons in March, up from 14.09 million in February and 13.41 million in March 2023, according to Kpler. First quarter thermal coal imports were 42.79 million tons, up 23.8% from the 34.57 million in the same period a year earlier. Coal demand is likely to remain elevated in India as the South Asian nation braces for more heatwave days than normal between April and June. In the second quarter, various parts of the country could record 10 to 20 heatwave days compared to the normal four to eight days, Mrutyunjay Mohapatra, director-general of the India Meteorological Department, told a virtual news conference on Monday. India's top supplier of seaborne thermal coal is Indonesia with March arrivals of 10.23 million tons being the highest in four months. Australia isn't a major supplier of thermal coal to India, with most of the coal trade between the two countries being metallurgical coal, which is used to make steel. However, it's worth noting that U.S. supplies to India have been increasing, with March imports at a three-month high of 1.10 million tons and an estimated 1.62 million expected to arrive in April, which would be a record high. At the same time, India's imports of Russian thermal coal have been slipping, with March arrivals of 730,000 tons being the lowest since November. A combination of Western sanctions on shipping and concerns over the safety of transiting the Red Sea has boosted the landed price of Russian coal in India. The opinions expressed here are those of the author, a columnist for Reuters. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. https://www.reuters.com/markets/commodities/china-india-boost-seaborne-thermal-coal-imports-power-demand-surges-russell-2024-04-02/

2024-04-02 12:00

LITTLETON, Colorado, April 2 (Reuters) - France's power generators boosted nuclear output during the first quarter of 2024 to the highest level for that period since 2021, helping the country re-establish itself as mainland Europe's most important clean electricity producer and exporter. Utilities produced just over 4 million kilowatt hours (KWh) of electricity from nuclear plants in the first three months of 2024, up 13.4% from the same period in 2023, according to data compiled by LSEG. That tally was the highest for the first quarter of the year since 2021's 4.11 million KWh, and indicates that France's power producers have substantially recovered from the series of issues that curbed nuclear generation in recent years. However, given that France gets around 70% of its electricity from nuclear facilities, and that France is mainland Europe's largest clean power exporter, it is critical that the country's fleet of creaky reactors remain in operational shape and not suffer any fresh production setbacks. NUCLEAR RECOVERY France's nuclear reactor fleet faced a swath of output issues since 2022, including extended maintenance issues at aged reactors, hotter-than-normal river temperatures which curtailed cooling operations, and protracted labour negotiations with energy sector workers. The production issues were most acute in 2022, when nuclear electricity generation dropped by over 22% from the year before to the lowest in 30 years. As nuclear power accounts for roughly 70% of France's electricity supply, such a sharp plunge in nuclear generation forced French utilities to boost use of natural gas and other power fuels in 2022, just as regional gas markets were upended by Russia's invasion of Ukraine. This jump in France's use of natural gas exacerbated the gas shortages seen in Europe in 2022, and helped propel regional power prices to their record highs that year. Nuclear output increased by around 14% in 2023 from 2022's lows, but remains below previous peaks as maintenance work progresses across the country's reactor fleet, data from energy think tank Ember shows. The average age of France's operational nuclear power plants is around 36 years, and no new ones have been brought online this century, data from International Atomic Energy Agency shows. CLEAN HELP While the advanced age of the nuclear fleet underscores how important reactor maintenance and repair will be for the country going forward, French power firms have been able to deploy growing volumes of renewable energy in recent years. In 2023, output from solar and wind farms increased by 18% and 26% respectively from the year before to record highs. Output from hydro plants also increased sharply last year, by 17% from 2022's levels, which helped push the country's total clean electricity generation to the highest since 2021 and account for a record 24.3% share of total electricity output. That combination of record renewables output alongside higher nuclear and hydro production helped drive the carbon intensity of France's electricity generation to just 45 grams of carbon dioxide per kilowatt hour in 2023, according to electricitymaps.com. That total was 37.5% less than the 72 grams of CO2 per KWh generated in 2022, when French utilities were forced to use more natural gas to compensate for the reduced nuclear output. The low intensity of French electricity production has rendered France a key exporter of clean electricity to neighbouring nations, especially to countries with far higher electricity carbon intensity such as Germany (423 grams of CO2 per KWh), Italy (375g CO2/KWh) and Spain (160g of CO28/KWh). Surplus nuclear power output has also pushed France's wholesale power costs to the lowest level since early 2021, and well below the power price of Germany, Europe's largest power consumer and a large importer. Additional expansions in solar and wind capacity are expected in 2024 and beyond which could help further reduce France's carbon intensity and boost volumes of exportable clean power. However, it is clear that nuclear power will remain the main pillar of France's electricity generation system for the next several years. As such, continuing progress in terms of reactor maintenance and repair will be critical, as France can only play the role of key regional clean power supplier with a fully operational nuclear fleet. Any setbacks for French nuclear output could have regional consequences, and undermine all of Europe's efforts to transition energy systems away from dirtier fuels. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. https://www.reuters.com/markets/commodities/france-boosts-nuclear-output-3-year-highs-during-q1-2024-2024-04-02/

2024-04-02 11:41

LONDON, April 2 (Reuters) - A Dutch court on Tuesday heard Shell's (SHEL.L) , opens new tab appeal against a landmark climate ruling which ordered it to drastically deepen planned greenhouse gas emission cuts. Here are key points about the ruling and the appeal process: WHAT WAS THE RULING? The district court in The Hague ordered Shell in 2021 to cut its absolute carbon emissions by 45% by 2030 compared to 2019 levels. The reduction includes emissions from the use of fuels sold to customers, which account for around 95% of Shell's emissions. WHAT IS THE TIME FRAME FOR THE APPEAL? The court will hear from Shell and Friends of the Earth Netherlands, which brought the case, for four days this month. A verdict is expected in the second half of the year. A further appeal to the country's Supreme Court is widely expected regardless of the outcome of this appeal. WHAT DOES THE APPEAL MEAN FOR SHELL? Shell said implementing the ruling would force it to shrink its business and would simply lead customers to shift to other suppliers of fuel. WHAT ARE SHELL'S CURRENT CLIMATE TARGETS? Shell aims to reduce the carbon intensity of products it sells by 15-20% by 2030 from a 2016 baseline after watering down the target in March. Shell has an "ambition" to reduce customer emissions from the use of its oil products by 15-20% by 2030 compared with 2021. Shell also aims to become a "net zero" emissions company by 2050. DOES THE RULING AFFECT SHELL'S GLOBAL OPERATIONS? Yes. The reduction relates to Shell's global operations and is not limited to the Netherlands, the court ruling said. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. https://www.reuters.com/sustainability/shell-appeals-against-dutch-courts-landmark-climate-ruling-2024-04-02/