GreenergyDaily
Jun. 17, 2024
1. Oil prices slipped in early Asian trading on Monday after a survey on Friday showed weaker U.S. consumer demand and as traders awaited the release of key economic data from China, the world's biggest crude importer. Global benchmark Brent crude futures were down 15 cents, or 0.18%, at $82.47 per barrel at 0034 GMT. U.S. West Texas Intermediate crude futures were down 16 cents, or 0.2%, at $78.29 a barrel.
2. China has completed delivering Kyrgyzstan's largest bus purchase order of 1,000 new energy buses as the last 30 buses left northwest China's Torugart Port recently for Bishkek, Kyrgyzstan, which will help reduce urban traffic pollution in the Central Asian country.
3. China's auto sales rose by 8.3% year on year to nearly 11.5 million units in the first five months of 2024, data from the China Association of Automobile Manufacturers showed Friday.
4. The US is as many as 15 years behind China on developing high-tech nuclear power as Beijing's state-backed technology approach and extensive financing give it the edge, a report said on Monday. China has 27 nuclear reactors under construction with average construction timelines of about seven years, far faster than other countries, said the study by the Information Technology & Innovation Foundation, a Washington-based nonpartisan research institute.
5. The power generation of China's major electricity production enterprises totaled 717.9 billion kWh in May, up 2.3% YoY. The output of solar power and hydropower soared 29.1% YoY and 38.6% YoY, respectively, during the same period, according to the National Bureau of Statistics of China on Monday.
6. According to the National Bureau of Statistics of China, in May, industrial crude oil production in China reached 18.15 million tons, up 0.6% YoY, with an average daily output of 585,000 tons. Additionally, the amount of imported crude oil was 46.97 million tons, showing an 8.7% decrease YoY. From January to May, industrial crude oil output in China totaled 89.1 million tons, reflecting a 1.8% year-on-year increase, while the imported crude oil amounted to 229.03 million tons, indicating a 0.4% year-on-year decrease.
7. The China-built Suki Kinari Hydropower project in Pakistan started wet testing of its 1st unit Sunday, marking a big step closer to its operation. The project under China-Pakistan Economic Corridor (CPEC) is expected to generate 3.21 billion kWh of clean electricity annually.
8. Chinese battery giant CATL issued a notice to ask employees to work hard for 100 days from June 12, implementing an 8 a.m.-9 p.m. working schedule for six days a week, Sohu Finance reported today. Foreign employees can but are not forced to follow the new schedule.
9. Beijing WeLion New Energy Technology, a supplier of semi-solid batteries to Nio, saw a roughly 31% increase in battery installations last month, the latest data showed. In May, China saw 482.9 MWh of semi-solid batteries installed, up 30.9% from 369.0 MWh in April, with WeLion the sole contributor, according to data released on June 14 by the China Automotive Battery Innovation Alliance. In the January-May period, China's semi-solid battery installations amounted to 1,621.8 MWh, with WeLion also being the sole contributor, according to CABIA.
10. China's May industrial output lagged expectations and a slowdown in the property sector showed no signs of easing despite policy support, adding pressure on Beijing to shore up growth. Apart from retail sales that beat forecasts due to a holiday boost, the flurry of data on Monday was largely downbeat, underscoring a bumpy recovery for the world's second-largest economy. May industrial output grew 5.6% from a year earlier, National Bureau of Statistics (NBS) data showed, slowing from the 6.7% pace in April and below expectations for a 6.0% increase in a Reuters poll of analysts.
