Tag Archives: Energy (inherited)

Brazilian energy company, Omega, buys wind energy assets from Eletrobras | Instant News

BRAZIL, July 30 (Reuters) – Brazilian renewable energy company Omega Geracao SA agreed to buy wind energy assets from Brazilian Eletrobras for 1.5 billion reais ($ 290.98 million), the two companies said in a securities filing on Thursday.

Omega will buy 78% of Eletrobras’s shares in the Santo Vitoria do Palmar complex and 99.9% of its shares will be Hermenegildo 1, 2, 3 and Chui wind power assets. ($ 1 = 5,1550 reais) (Reporting by Jake Spring and Luciano Costa; Editing by Muralikumar Anantharaman)


image source

Germany increases gas imports in January-May, lower prices cut bills | Instant News

FRANKFURT (Reuters) – Germany imported 8.7% more natural gas in the first five months of 2020 than in the previous year’s period but paid almost a third less for supplies, taking advantage of lower prices, official data showed on Thursday.

Gas, electricity and carbon traders follow gas imports because the balance of supply and demand can change prices and trading volumes in all three markets.

Gas statistics also correlate with coal, which competes with gas in electricity production, and permits carbon emissions.

German imports from January to May totaled 2.5 billion Terajoules (TJ), or 72.5 billion cubic meters (bcm), compared to 2.3 billion a year earlier, said the trade statistics office at BAFA, which released data with a lag time.

May imports alone reached 459,347 TJ, up 8% YoY.

Importers cut their bills to 8.4 billion euros (7.5 billion pounds) in five months, paying 31.3% lower than the previous year because oversupply weighed on market prices.

The average price paid at the border in May was 2,446.32 euros per TJ, which is equivalent to 0.88 euro cents per kilowatt hour (kWh), down 42.6% from the same month in 2019.

The average border price during January-May fell 36.2% year-on-year at 3,315.54 euros / TJ.

Germany mainly imports gas from Russia, Norway, the Netherlands, the United Kingdom, and Denmark through pipelines, while imports of liquefied natural gas (LNG) also appear in the region.

German gas stockpiles are at 88% of available storage capacity on Tuesday, the website of the European gas infrastructure group GIE shows, compared to 86% a year earlier.

Reporting by Vera Eckert, edited by Kirsten Donovan


image source

Vale Brasil oversees the expansion of the mine, Samarco restarted amid strong Chinese demand | Instant News

RIO DE JANEIRO (Reuters) – Brazilian iron ore miner Vale SA sent a proposal this month to the council for further expansion in the Northern Systems mining complex, and the company expects to restart operations at its Samarco complex in December, executives said on the day Thursday .

FILE PHOTOS: Brazilian mining company, SA logo and trade symbol displayed on screen on the New York Stock Exchange (NYSE) in New York, USA, December 6, 2017. REUTERS / Brendan McDermid

Speaking to analysts after the release of the company’s second-quarter results, executives hit an optimistic tone, saying it was the only miner capable of delivering an additional 100 million tons of iron ore to meet strong demand from China for major steelmaking materials.

Vale plans to produce 400 million metric tons per year by the end of 2022, a target originally set for last year and postponed after the company’s dam broke in January 2019, killing 270 people and forcing the mine to close.

When production recovered, Vale reached a record new iron ore production at its main S11D complex in northern Brazil, an executive said. He expects his Itabira complex in southeast Brazil, disturbed by new corona virus cases, to resume full production by 2021.

Vale-listed shares in Brazil fell 3% in afternoon trading, as the company missed market consensus for the results and posted a cost increase. The Bovespa benchmark index in Brazil fell 1.3%.

Vale also issued several warnings to investors.

The pandemic will reach iron ore production reaching 10 million tons by 2020, executives said. Additional provisions regarding the New Caledonia nickel project, currently in the block, are also expected.

In addition, they said, restarting Samarco could be delayed a bit, meaning that operations would resume in early 2021.

On Wednesday night, Vale announced it would resume dividend payments, stopped after a dam burst in the Brazilian city of Brumadinho last year.

“The lack of dividends has been a significant relative loss for Vale versus other major iron ore miners,” Jefferies Research analysts Christopher LaFemina and Petar Petrovski said in a note.

Reporting by Sabrina Valle and Gram Slattery in Rio de Janeiro; Additional reporting by Roberto Samora; Editing by Alistair Bell and Matthew Lewis


image source

China’s soybean imports from Brazil rose to a record in June | Instant News

BEIJING (Reuters) – China’s soybean imports in June from Brazil’s main supplier surged to record highs, according to customs data released on Sunday, driven by increased soybean demand as a herd of Chinese pigs recovered after a deadly outbreak of African swine fever.

PHOTO FILE: Imported soybeans are transported at the port in Nantong, Jiangsu province, China August 6, 2018. REUTERS / Stringer / Photo File

The world’s top soybean buyers brought in 10.51 million tons of oil seeds from the South American country in June, up 91% from 5.5 million tons a year earlier, data from the Customs Administration General showed. June’s figure also rose 18.6% from May’s imports from Brazil at 8.86 million tons.

China’s overall soybean imports in June were a record 11.16 million tons because Chinese processors also made most of Brazil’s prices lower because better weather facilitated exports.

China brought 267,553 tons of soybeans from the United States in June, down 56.5% from 614,805 tons in the previous year. Imports fell 45.6% from 491,697 tons in May.

China has increased purchases of US agricultural products including soybeans, and will need to increase purchases dramatically to fulfill its promises under a phase 1 trade agreement signed by both parties in January.

Some Chinese destroyers in the south are struggling with glaring supplies due to the arrival of seeds, while heavy rains and flooding in recent weeks have held back demand from the animal husbandry sector.

Destroying crops in the north has improved thanks to requests from recovered pig herds, according to importers.

Inventories are expected to remain high in the coming months because shipments from Brazil remain large.

China’s weekly national soybean inventory reached 7.39 million tons on July 21, the highest since November 2018, and more than double the record low at the end of March, when soybean arrivals from Brazil fell after bad weather slowed exports.

National soymeal stock also rose to more than 1 million tons earlier this month, up from a record low of 139,000 tons in April.

Reporting by Hallie Gu, Pei Li and Dominique Patton, Writing by Shivani Singh; Editing by William Mallard


image source

Vale Brazil appoints former CEO of Petrobras to be sent to the ‘nomination committee’ | Instant News

July 22 (Reuters) – Brazilian iron ore miner Vale SA has appointed Pedro Parente and Alexandre Gonçalves Silva to the newly formed “nomination committee,” he said in a securities filing on Wednesday.

Parente is a famous Brazilian executive who was previously the CEO of a state-controlled oil company, Petroleo Brasileiro SA and chicken producer BRF SA.

The nominating committee will help Vale improve corporate governance, the company said, and will have a say in the size, composition and structure of the board of directors.

Reporting by Gram Slattery Editing by Chris Reese


image source