GreenergyDaily
May. 6, 2024
1. BYD's new energy vehicle sales rose 49% to 313,200 units last month from a year earlier, with its Dynasty and Ocean marques selling the best. The Chinese EV giant sold 939,500 NEVs in the first four months of the year, up 23% from a year ago.
2. There is huge potential for cooperation between China and France in the field of nuclear energy and other low-carbon energies, and EDF will continue to make more high-quality investments in China, said Fabrice Fourcade, chairman of French energy company EDF's China branch.
3. Zeekr Intelligent Technology, the electric vehicle arm of Chinese automotive giant Geely Holding Group, plans to go public on the New York Stock Exchange under the stock ticker ZK.
4. China's import and export volume of automotive products in March 2024 was US$23.87 billion, up 2.5% YoY. The cumulative import and export of automobile products in China between Jan. to Mar. 2024 was US$68.29 billion, up 5.5% YoY.
5. China's Sinopec is in discussions with Pembina Pipeline Corp for a liquefied natural gas offtake agreement and equity stake in the Canadian company's proposed Cedar LNG project, according to Reuters citing two sources. A joint venture between Haisla First Nation and Pembina, Cedar would be one of Canada's first LNG export terminals, costing roughly $4 billion. Cedar would produce 3 million metric tons of LNG per annum after completion in 2028, pending a final investment decision by mid-2024.
6. Global petrol demand growth could halve in 2024, squeezing 2nd-half refinery margins, analysts said, driven by a shift to electric cars in China and the U.S. and a return to normal consumption after last year's bounce following COVID-19. In the lowest growth since 2020, demand is likely to rise 340,000 barrels per day(bpd), to stand at 26.5 million bpd this year, says consultancy Wood Mackenzie, down from growth of 700,000 bpd last year, as China nears the point of peak transport fuel demand and the U.S. has surpassed it.
7. The European Commission has warned three Chinese electric vehicle makers that they have not supplied sufficient information for its anti-subsidy investigation, according to Reuters citing two people familiar with the case. If the Commission concludes that the provided information from sampled companies BYD, SAIC and Geely is insufficient, it could use evidence available elsewhere to compute tariffs, a move that can inflate them.
8. Saudi Aramco raised June's official selling price for the flagship Arab light crude it sells to Asia, according to an official statement. Differentials for the flagship Arab Light grade were priced at Platts Dubai/DME Oman +$2.90 per barrel, up from +$2 a barrel in April.
9. Shenzhen in China's Guangdong province has become the first Chinese city to have more supercharging stations than gas ones. Shenzhen had 362 electric vehicle supercharging stations as of April 30, according to the latest data released by the city's Development and Reform Commission. The city also became the first in China to have more charging plugs than gas guns.
10. Three Gorges Dam, the world's largest hydropower project, saw a shipping throughput of 2.73 million tonnes and 14,200 tourist trips during the 5-day May Day holiday ending Sunday, up 10.21% and 17.96%, respectively, YoY, according to official data.
