Tag: coal

Global primary energy consumption grew strongly in 2017, led by natural gas and renewables, with coal’s share of the energy mix continuing to decline. The vast majority of the increase came from the developing world, accounting for nearly 80% of the expansion, according to BP's statistical review of world energy for 2017.

HSBC, Europe's biggest bank, announced that it will no longer provide project finance for new coal power plants, arctic drilling, as well as new tar sands projects, including the construction of any pipelines, becoming the latest in a series of international financiers to have distanced themselves from North American pipelines.

Terminal operator OBA will clear part of its coal-handling site this year in order to maker room for other dry-bulk commodities. This decision is driven by the reduced demand for coal storage. The two partners agreed for OBA to clear more than 20% of its site to accommodate new operations, starting in the first quarter of 2018.

In its final editorial of peak oil demand series, Wood Mackenzie looks at the consequences of peak oil demand on gas, noting that it sees an 1.6% growth to 2035. As explained, many oil majors are talking about reshaping their supply portfolio towards gas, in response to concerns about peak oil demand.

The Port of Newcastle has already accepted investments for the new cruise terminal and non-coal freight facilities. This is important, but a further development of the port is necessary for it to keep up with Hunter and NSW economy.