Tag Archives: Change in Production Status

EUROPEAN POWER – Friday prices rose due to lower German winds, solar power output | Instant News

PARIS, February 25 (Reuters) – European spot electricity prices for delivery on Friday rose on Thursday due to lower forecasts for wind and solar power generation in Germany.

* Over-the-counter baseload prices for Friday delivery in Germany rose 6.2% to 48.30 euros per megawatt hour (MWh) at 1009 GMT.

* France’s future contract added 6.2% to 48.25 euros / MWh.

* Power generation from German wind turbines is expected to fall 1.8 gigawatts (GW) day-on-day to 13.4 GW, while solar generation is expected to drop 2.2 GW to 3.6 GW, Refinitiv data show.

* “We expect wind power output to fall in the first half of the day, and increase in the latter half of tomorrow,” Refinitiv analysts said.

* French wind power supply is expected to increase by 1 GW to 3.6 GW, data show.

* Refinitiv forecast shows the average daily German wind power supply will fall to around 3 GW early next week before rising to 8 GW next Friday.

* France’s nuclear capacity reaches 75% of the total installed.

* More than half of EDF’s nuclear reactors could be operational for a decade longer than planned after maintenance work was carried out, French nuclear security watchdog ASN said on Thursday.

* French electricity demand on Friday is expected to rise 700 megawatts (MW) to 56.9 GW and fall in Germany by 390 MW to 64.2 GW, Refinitiv data show.

* Further along the curve, German Cal ’22 baseload power edged up 0.1% to 53.20 euros / MWh, following higher fuel prices.

* France 2022 contract added 0.2% to 54.25 euros / MWh.

* European CO2 allowances expiring December 2021 edged down 0.1% to 39.10 euros per tonne.

* Coal for northern European delivery in 2022 rose 0.9% to $ 69.1 a tonne, after hitting the highest level since February 1 at $ 69.20 earlier in the session. (Reporting by Forrest Crellin; Editing by Emelia Sithole-Matarise)


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UPDATE 1-Bahia Mineracao Brazil begins production in iron ore mine – CEO | Instant News

(Added more chief executive comments)

RIO DE JANEIRO, February 2 (Reuters) – Brazilian miner Bahia Mineracao, a subsidiary of Kazakhstan’s Eurasian Resources Group, started production at a mine in northeastern Brazil with an estimated 2021 production of 1 million tonnes of iron ore, its chief executive said on Tuesday.

Bahia Mineracao plans to double production at the Pedra de Ferro mine in the state of Bahia to 2 million tonnes of iron ore next year, CEO Eduardo Ledsham said in an interview.

The mine delivered its first ore cargo in January, with first-quarter sales to the domestic market only, Ledsham said. Foreign deliveries are expected to start in April, he said.

The company plans to invest 4 billion reais ($ 746.41 million) to increase its annual production capacity to 18 million tonnes in five years, he said.

“I see that we are heading for a new cycle of high iron ore,” Ledsham said of the demand for the metal, especially from China.

As part of the planned capacity expansion, the company will rely on the first segment of the East-West Integration Railway (Fiol), which is not yet operational. On April 8, the government plans to auction off a 35-year concession to operate a railroad linking to the coast.

Ledsham said Bahia Mineracao planned to participate in the auction in partnership with other investors, but declined to elaborate.

Fiol will be connected to a port in the coastal city of Ilheus which is under construction and will be jointly operated by Bahia Mineracao and the state government of Bahia.

Early shipments of iron ore were shipped by road.

The Pedra de Ferro mine has reserves of around 550 million tonnes of ore, about one-third of which is hematite which contains about 65% iron content. ($ 1 = 5,3590 reais) (Reporting by Marta Nogueira Writing by Jake Spring; Editing by Richard Chang)


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Chevron said Australia’s Wheatstone LNG production was below capacity due to repairs | Instant News

FILE PHOTOS: Chevron gas station sign seen in Del Mar, California, April 25, 2013. Chevron will report revenue on April 26. REUTERS / Mike Blake

SINGAPORE (Reuters) – Big US oil company Chevron Corp is operating a Wheatstone LNG plant in Western Australia at under capacity due to repairing inlet dividers, a senior company executive said.

“At Wheatstone, production is slightly below capacity while we are fixing the inlet separator,” Chief Financial Officer Pierre Breber said during an earnings conference call on Friday.

“We don’t expect a production impact in the second quarter.”

For the remainder of the year, the plant is expected to return to full capacity until maintenance is planned to begin at the end of the third quarter and continue into the fourth quarter, Chief Executive Officer Mike Wirth said in the same call.

Chevron temporarily shut down a unit separating natural gas and associated liquids at its Wheatstone offshore processing platform late last year after encountering problems during routine maintenance.

Meanwhile, refurbishment of Production Plant 1 at Chevron’s Gorgon LNG plant in Western Australia is nearing completion, with production units expected to be back online in March, Breber said.

“After Train 1 is back online, Train 3 will be terminated for propane ship inspection, repair and planned turnaround,” he added.

Maintenance on Train 3 is expected to occur in the second quarter, said Wirth.

Chevron agreed with regulators last August to gradually shut down Plants 1 and 3 at Australia’s second largest LNG plant for inspection after cracks were found in the propane kettles at Train 2.

Reporting by Jessica Jaganathan in Singapore and Sonali Paul in Melbourne; Edited by Rashmi Aich


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Australian tyro fell after short-sellers targeted payment terminal problems | Instant News

January 15 (Reuters) – Australian Tyro Payments Ltd shares plunged more than 12% on Friday after a short seller said the company was under-reporting the level of outages at its payment terminals over the past week.

Tyro on Wednesday said 30% of its 32,000 customers – mostly using a single terminal – faced outages caused by software problems, and it collects 2,000 terminals daily for repair and return.

Short seller Viceroy Research on Friday said it estimated around 50% of Tyro’s terminals were offline based on “extensive” checks with anonymous customers of Tyro.

Tyro shares, the largest payment terminal provider outside of Australia’s so-called ‘Big Four’ banks, have lost nearly a third of their value since the company first disclosed the outage last Thursday.

Tyro did not immediately respond to a Reuters request for comment on the report and trading in its shares was suspended on Friday after a sharp decline awaiting the announcement.

The stock was last down 11.8% before being stopped at A $ 2.32.

“Many of the stores we have contacted and checked have switched providers,” Viceroy said in his report, adding that the impact on Tyro’s reputation and finances is likely to be “severe and long-lasting.”

In Tyro’s announcement on Wednesday, it said the outages faced by most customers would be fixed by the end of the week while the rest would be operational next week. (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Christopher Cushing)


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BHP resumed operations in Samarco five years after the Brazilian dam disaster | Instant News

FILE PHOTOS: View of the Samarco mine in Mariana, Brazil, April 12, 2016. REUTERS / Washington Alves

(Reuters) – BHP Group Ltd said on Thursday it had met licensing requirements to restart operations and had started production of iron ore pellets in the Samarco joint venture with Brazil’s Vale SA, five years after the deadly dam disaster.

The resumption of iron ore mining comes just as commodity prices have surged in recent weeks amid expectations of bullish demand in 2021, as China’s main consumer recovers from the coronavirus while Brazil’s supply shortages continue.

Independent tests have been carried out on Samarco’s preparations for a safe restart and its initial operations are expected to produce about 8 million tonnes of iron ore pellets per year, the miner said.

In a 2015 incident, a mining waste dam exploded at the Samarco site in the city of Mariana, releasing a mudflow that killed 19 people and led to the suspension of operations and numerous legal cases against the miners.

The collapse is considered Brazil’s worst environmental disaster, polluting rivers hundreds of miles out to sea.

Brazil’s federal prosecutors filed a lawsuit in October against the miner’s compensation package for victims, arguing that the package was too low.

Reporting by Rashmi Ashok in Bengaluru; Edited by Forward Samuel


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