GreenergyDaily
Jun. 24, 2024
1. China's Commerce Minister Wang Wentao and Valdis Dombrovskis, executive vice president of the European Commission, agreed on Saturday to start consultations on the issue of the European Union's anti-subsidy investigation into Chinese electric vehicles during talks via video link, the ministry said in a press release.
2. Beijing wants the European Union to scrap its preliminary tariffs on Chinese electric vehicles by July 4, China's state-controlled Global Times reported, after an agreement by both sides to hold new trade talks. Provisional EU duties of up to 38.1% on imported Chinese-made EVs are set to kick in by July 4 while the bloc investigates what the EU claims are excessive and unfair subsidies to Chinese EV makers.
3. China's largest self-operated offshore oilfield, Suizhong 36-1, has become the country's first offshore oilfield to produce over 100 million tonnes of crude oil, its operator said Sunday. The oilfield located in the Bohai Bay boasts a daily production of over 8,900 tonnes.
4. The China Development Bank issued over 200 billion yuan (about $28 billion) of green loans in the first 5 months of 2024, amid continued support for green industries, with its cumulative issuance of carbon-reduction loans through a carbon-reduction credit facility exceeding 110 billion yuan.
5. Petrobras announced that the FPSO Maria Quitéria is currently en route to a location offshore Brazil. The platform ship departed from China in May and is expected to arrive at in the third quarter of this year. The FPSO is scheduled to begin oil and gas production in the last quarter of 2024, thus advancing the timeline from PE 24-28, initially planned to commence operations in 2025.
6. China and the European Union will consult on the latter's investigation into Chinese electric vehicles after preliminary tariffs are announced. On June 22, China's Commerce Minister Wang Wentao was invited to hold a video talk with Valdis Dombrovskis, executive vice president of the European Commission. The two sides agreed to initiate consultations on the EU's anti-subsidy investigation case against China's EVs, according to a brief statement on China's Ministry of Commerce website.
7. According to data released by the Saudi General Authority for Statistics (GASTAT), Saudi Arabia's merchandise exports decreased by 1% year-on-year in April. Specifically, oil exports dropped by 4.2% year-on-year, while non-oil exports (including re-exports) increased by 12.4% year-on-year. Saudi imports in April also decreased by 1.3% year-on-year.
8. Dongfeng Nissan, the JV of China's Dongfeng Motor Group and Japan's Nissan Motor, said today that the firm is adjusting its production capacity and resources to transform based on its new energy vehicle strategy, after Nissan announced the closure of its car plant in Changzhou, China.
9. Cooperation between Chinese and European solar industries is a "win-win" situation, said experts and business representatives from the photovoltaic (PV) industry during the just-concluded Intersolar Europe exhibition, the largest and most influential PV industry event in Europe.
10. Deutsche Bank expects Nio's vehicle deliveries to decline this month from May's record, in line with a trend hinted at in the electric vehicle maker's previous guidance. In a June 21 research note, analyst Wang Bin's team projected Nio to deliver 18,200 vehicles in June, up 68% year-on-year but down 12% from May. In the first two weeks of June, Nio's domestic retail sales totaled 7,000 units, the team noted.
