GreenergyDaily
Jun. 3, 2024
1. BYD sold over 1.27 new energy vehicles in the first five months of the year, up 27% from a year earlier, the Chinese automaker said yesterday. BYD's NEV export reached 37,500 units in May.
2. Russia's attempts to conclude a major gas pipeline deal with China have run aground over what Moscow sees as Beijing's unreasonable demands on price and supply levels, the Financial Times reported on Sunday citing three people familiar with the matter. China had asked to pay close to Russia's heavily subsidized domestic prices and would only commit to buying a small fraction of the pipeline's planned annual capacity of 50 billion cubic meters of gas according to the report.
3. Saudi Arabia added four more banks for its secondary share offering of oil giant Aramco, as the advisers began taking orders on Sunday for the sale that could eventually raise up to $13.1 billion, 4-1/2 years after its record initial public offering. The Saudi government may sell up to a 0.7% stake in the world's top oil exporter. The banks on the deal will take orders through Thursday and it will price the following day, with the shares expected to start trading next Sunday on Riyadh's Saudi Exchange.
4. The Organization of the Petroleum Exporting Countries (OPEC) and its allies on Sunday extended their current output cuts into the third quarter of this year to maintain the stability of oil prices.
5. China's 1st heavy-haul railway hydrogen refueling station started commercial operation Sunday in N China's Inner Mongolia. The power station, equipped with homegrown automatic robots that can work at -25°C, can refuel a hydrogen-powered locomotive in 30 mins for 8-hr operation.
6. China allocated CNY6.4 billion (USD883 million) worth of subsidies to support the replacement of automobiles, including fuel-powered cars and new energy vehicles, as this year's central government fiscal appropriation, according to the Ministry of Finance.
7. Higher tariffs on China could end up making American inflation worse and hurt U.S. economic growth, according to the latest analysis from S&P Global. President Biden announced increased tariffs on electric vehicles and other products imported from China on May 14, while U.S. inflation moved "sideways" in April, with the PCE index increasing slightly to 2.7%.
8. BYD announced the opening of its first Caribbean dealership in Trinidad and Tobago. With a range of NEV models introduced, BYD is strengthening its presence in the region, including Jamaica.
9. Sinopec and PETRONAS recently signed in Kuala Lumpur an MoU to strengthen strategic cooperation between the two sides, to promote holistic growth and explore new frontiers of the energy industry. According to the MoU, both sides expect to seek joint opportunities and converging areas, including the investment in upstream, refinery and chemicals, new energy and carbon capture, utilization and storage (CCUS), the technical and engineering services, as well as tradings of LNG, crude and refined products, specialty chemicals and non-fuel products.
10. BYD's EXPLORER NO.1, a state-of-the-art roll-on/roll-off carrier, docked at Brazil's Port of Suape after a 27-day transcontinental voyage from China. With a length of 199.9m, it can carry up to 7,000 vehicles. Embark with us on our commitment to eco-friendly, intelligent global logistics and support the green transformation.
