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Chinese fossil fuels output fell in April from the record levels hit in the prior month, although natural gas, crude oil and coal all delivered increases compared to the previous year as the government continues to prioritize security of supply despite weaker prices. Gas output rose 8.1 percent year-on-year to 21.5 billion cubic meters, while crude oil increased 1.5 pecent to 17.7 million tons, the statistics bureau said on Monday. Coal production rose 3.8 percent to 389 million tons, although that was 51 million tons less than March, offering a hint of relief for miners suffering from a slump in prices to four-year…

WASHINGTON (AP) — For months, American consumers and businesses have been hearing that President Trump’s massive import taxes – tariffs – would drive up prices and hurt the U.S. economy. But the latest economic reports don’t match the doom and gloom: Inflation actually eased last month, and hiring was solid in April.For now, the disconnect has businesses and consumers struggling to reconcile what they were told to expect, what the numbers say and what they are seeing on the ground. Trump and his supporters are quick to point out that the trade wars of his first term didn’t translate into…

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China produced 3.8% more coal this April than a year ago, at 389.31 million tons. This was down from a month earlier when production hit a record but still strong enough to cement coal’s role in the country’s energy mix.Coal imports in April fell by 16% amid weaker prices that stimulated consumption of domestic supply.Production over the first four months of the year stood at 1.58 billion tons, customs data cited by Reuters revealed. The number represented an annual increase of 6.6%.Over the same period, thermal power generation in China declined—as did overall generation. The decline stood at 4.1% to…

Stay informed with free updatesSimply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox.The world’s largest oil companies are braced for a prolonged downturn in crude prices — the third in just over a decade — as they seek to reassure investors that they are prepared for the worst. Executives at ExxonMobil, Chevron, Shell, TotalEnergies and BP have used their quarterly earnings updates to reassure investors that their balance sheets remain strong, and that they will not be rushed into unnecessary reductions in spending and shareholder returns. “We are seeing significant downward pressure…

Economists marked up their forecasts for growth in the US and China after the world’s two-largest economies reached a temporary agreement to reduce tariffs on each other. China’s economy is now seen expanding at least 4.6 per cent this year from as low as 4 per cent previously, according to new estimates from Goldman Sachs Group Inc., JPMorgan Chase & Co., ING Groep NV and Bloomberg Economics. Projections for the US still point to a slowdown, but several economists dropped their recession calls.While tariffs are widely expected to boost inflation, that hasn’t yet shown up in the data. US consumer…

The oil regulator has made it mandatory for companies planning to establish new liquefied natural gas (LNG) import terminals or expand existing ones to obtain prior approval, but dropped the requirement to reserve a portion of the terminal capacity for third-party access.The Petroleum and Natural Gas Regulatory Board (PNGRB) has notified Registration for Establishing and Operating Liquefied Natural Gas Terminals Regulations, 2025.”These regulations lay down a robust framework focused on registration and oversight of LNG terminals, (and) promotion of competition among entities and prevention of infructuous investments,” the regulator said, adding that the rules are a step in alignment with…

A major Australian energy company has acknowledged that carbon offsets do not prevent or undo damage caused by greenhouse gas emissions and apologised to its customers for allegedly misleading marketing.More than 400,000 Australians had signed up to Energy Australia’s “go neutral” carbon offset program that since 2016 had promised to offset emissions released due to their electricity and gas consumption.The advocacy group Parents for Climate launched legal action in the federal court in 2023 alleging the company had engaged in misleading and deceptive conduct by claiming it was reducing emissions on behalf of its customers, including by buying international carbon…

LONDON, Ky. (AP) — More severe storms were expected to roll across the central U.S. this week following the weather-related deaths of more than two dozen people and a devastating Kentucky tornado.The National Weather Service said a “multitude of hazardous weather” would impact the U.S. over the next several days — from thunderstorms and potentially baseball-sized hail on the Plains, to heavy mountain snow in the West and dangerous heat in the South.Areas at risk of thunderstorms include communities in Kentucky and Missouri that were hit by Friday’s tornadoes. In London, Kentucky, people whose houses were destroyed scrambled Sunday to…

The decline in oil prices and the prevailing uncertainty about the economy, trade, and supply chains are accelerating the peak in U.S. oil production despite President Donald Trump’s ‘drill, baby, drill’ slogan.  With the U.S. benchmark WTI crude prices at $60 per barrel, it’s mostly “hold, baby, hold” in the American shale patch, where output in the major basins except the Permian has already started to level off or drop. The U.S.-China 90-day tariff pause and the start of trade talks did little to erase the crash in oil prices from April, and even less to restore confidence or wipe out the…