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Coal India production drops 9.7 per cent in April amid rising power demand
State-owned Coal India Ltd reported a 9.7 per cent decline in coal production to 56.1 million tonnes in April, driven by operational challenges across subsidiaries. This shortfall occurs as India faces record peak power demand of 255.85 GW due to severe heatwaves. The drop raises concerns about supply strain for thermal plants and potential increases in imported coal costs, despite coal accounting for over 70 per cent of the nation's electricity generation.
Air Liquide reports renewed demand for hydrogen production services
Air Liquide reported a 3.4% increase in hydrogen-related revenue for Q1 2026, reaching €6,786 million, driven by surging global demand for energy independence. The company is expanding its electrolyzer capacity and recently acquired DIG Airgas to bolster its network. Hydrogen is increasingly viewed as a strategic alternative to fossil fuels, particularly in Europe, the Middle East, and Asia, to decarbonize heavy industry and reduce geopolitical reliance on gas imports. Despite infrastructure challenges, the company projects strong financial health with EBITDA expected to hit €8.0–8.5 billion by 2025.
Pakistan faces up to $50bn economic losses amid rising oil prices and Middle East conflict
Officials informed Pakistan's National Assembly Standing Committee on Finance that the ongoing Middle East conflict and rising global oil prices threaten significant economic strain. With crude prices surpassing $123 per barrel, petroleum product costs have risen by up to 42 percent, adding approximately $70 million daily to the import bill. Annual losses are projected between $10 billion and $12 billion, potentially escalating to $50 billion if prices reach $150 per barrel. The crisis risks exacerbating inflation, slowing remittances, and causing electricity shortages due to import disruptions.
Retail executives say climate change is hitting margins and supply chains
Retail executives from H&M, Zalando, and FMI stated that climate change is directly impacting profit margins, supply chains, and long-term business resilience in the fashion and food sectors. They emphasised that sustainability is now a financial risk management imperative. Adam Karlsson of H&M noted that investment decisions must account for the financial cost of inaction, while Pascal Brun of Zalando linked sustainability to growth and efficiency. The panel called for improved collaboration across shared supply chains to address emissions and inefficiencies through scalable joint investment models.
Octopus Energy Generation signs $500m carbon removal deal
Octopus Energy Generation has signed a $500m deal with Living Carbon to fund afforestation and reforestation projects in the US. The investment aims to remove up to 50 million tonnes of carbon dioxide over 40 years. Octopus also committed $13m to Living Carbon's development business. This partnership supports Octopus's goal to invest $2bn in US clean energy by 2030. Living Carbon targets degraded land for native tree planting. The deal highlights growing corporate demand for carbon removal, though the voluntary market faces scrutiny regarding project integrity and community impact.
UN climate chief says Iran war is supercharging clean energy transition
Simon Stiell, Executive Secretary of the UNFCCC, stated that the conflict between the U.S., Israel, and Iran is accelerating the global shift to renewable energy. The war has disrupted oil and gas supplies, prompting nations to seek alternatives like rooftop solar and electric vehicles. While some countries are increasing coal use to replace Middle Eastern gas, leaders from around 60 governments met in Colombia to discuss phasing out fossil fuels. The IEA meeting in Paris highlighted that renewables offer safer energy less vulnerable to geopolitical conflicts.
Wheat prices rise as US Plains drought damages crops
Chicago wheat futures rose 0.8% to $6.41-3/4 a bushel on Friday, heading for a 4.1% weekly gain, after dry conditions damaged crops in the US Plains. Analysts noted that while rain may stop further damage, yield losses are already occurring, maintaining upward pressure on prices. Year-to-date, CBOT wheat is up 27%. Corn and soybean futures also increased, supported by concerns over fertiliser costs linked to the Iran war and supply disruptions in the Strait of Hormuz.
Lotus Resources faces operational hurdles amid uranium demand
Lotus Resources (ASX:LOT) reported operational challenges at its Kayelekera project in Malawi, citing maintenance issues and processing constraints that slowed production ramp-up. The company revised previously disclosed metrics, introducing uncertainty. Despite these hurdles, mining activities continue with a substantial ore stockpile, and the firm has secured utility contracts. Global uranium demand remains firm due to the clean energy transition, supporting the long-term outlook for the project.
Exxon beats Q1 earnings estimate despite Middle East disruptions
Exxon Mobil reported first-quarter adjusted earnings of $1.16 per share, surpassing the consensus estimate of $1.00, driven by record production in Guyana and growth in the Permian Basin. However, unadjusted net income fell to $4.2 billion, its lowest level in five years, due to a $700 million loss from undelivered cargoes caused by the conflict in the Middle East. The company warned that production could drop further if the Strait of Hormuz remains closed, though it expects output to recover if the waterway reopens. CEO Darren Woods stated the volatile environment does not alter their strategy.
US futures hold steady as oil prices remain high amid US-Iran tensions
US stock futures remained stable on Monday despite oil prices holding near weekly highs. S&P 500 futures rose 0.1%, while Nasdaq futures dipped 0.1% and Dow futures gained 0.2%. Brent crude increased 1% to $111.50 and WTI crude rose 0.5% to $105.63, driven by ongoing disruptions in the Strait of Hormuz and stalled talks between the US and Iran. Markets are reacting to reports that a revised peace proposal from Iran may be sent later, though the ceasefire remains uncertain. Higher energy prices continue to pose risks to the global inflation outlook.
Ukraine power consumption rises amid Russian attacks and outages in five regions
Ukraine's National Energy Company and the Ministry of Energy reported increased electricity consumption due to cloudy weather reducing solar efficiency. Simultaneously, Russian attacks caused temporary power outages for consumers in Donetsk, Mykolaiv, Zaporizhzhia, Sumy, and Kharkiv regions. Authorities stated no load shedding is expected today while restoration efforts continue around the clock. Residents are urged to limit usage of high-power appliances between 18:00 and 22:00.
UAE exit transforms OPEC into ceremonial organisation
Following the United Arab Emirates' departure from OPEC, the Organisation of the Petroleum Exporting Countries is expected to become a ceremonial entity as other members consider similar exits. While the removal of production quotas may improve oil supply, geopolitical conflicts and infrastructure restoration will keep crude prices elevated for the next 12 months. Long-term, increased non-OPEC supply and the global energy transition are projected to soften prices below $60 per barrel. The shift reflects a move towards bilateral trade deals and reduced reliance on the US security umbrella.
Abaxx Exchange launches solar futures in Germany
Abaxx Exchange has introduced Enwex Germany Solar (GSM) futures, expanding its weather derivatives suite to include solar power. Available for trading since April 23rd, 2026, these euro-denominated, financially settled contracts are indexed to the Enwex Solar Germany forecast-based index. The launch aims to provide a centralized, exchange-cleared benchmark for mitigating solar generation risk and basis risk as Germany scales its solar capacity. The product is designed to improve arbitrage and cross-hedging opportunities for market participants.
Colombia president warns suicidal capitalism model threatens war and fascism
Colombia's President Gustavo Petro convened 57 governments in Santa Marta to address the climate crisis, warning that the current fossil fuel-dependent capitalist model leads to war, fascism, and potential human extinction. While France released a roadmap to phase out fossil fuels by 2050, delegates from the global south emphasised that addressing debt is central to any transition. Experts noted that high debt levels and interest rates prevent developing nations from investing in renewables, calling for financial reforms and debt forgiveness to enable a just transition away from fossil fuels.
UN report says critical minerals demand fuels poverty and pollution in vulnerable communities
A report by the UN's UNU-INWEH finds that the global scramble for critical minerals like lithium, cobalt, and nickel is deepening poverty and creating public health crises in vulnerable communities in Africa and Latin America. The study highlights that while demand for these metals, used in batteries and microchips, has surged to support green energy and AI, the environmental and health costs are borne by local populations. Issues include water scarcity, toxic contamination, and agricultural devastation, with the report calling for mandatory international due-diligence standards to prevent the green transition from repeating historical patterns of exploitation.
UAE exit from OPEC signals shift in global oil order
The United Arab Emirates has reportedly decided to leave OPEC and OPEC+, marking a significant shift in the global oil architecture. This move reflects the UAE's national strategy to pursue greater production flexibility and diversify into energy, logistics, and technology hubs, diverging from the collective discipline previously maintained by Gulf states. The departure weakens the perception of OPEC+ unity, potentially increasing supply pressure and price volatility for Asian importers while complicating energy security strategies for major economies like China and India. The event underscores a transition from a producer-led hierarchy to a multipolar system where energy security depends on infrastructure, finance, and geopolitical stability.
UK electrification firms lag on public emissions disclosure and Scope 3 reporting
An industry analysis published Wednesday indicates that while emissions reporting is becoming standard in the UK's electrification supply chain, public transparency and Scope 3 coverage remain insufficient. The study highlights a gap between current practices and the expected level of disclosure in the sector.
EU chief warns billions could be wasted if energy aid is not well targeted as the Iran war bites
European Commission President Ursula von der Leyen warned EU countries must direct energy aid to vulnerable households and industries to avoid wasting billions amid rising costs from the Iran war. The conflict, combined with the U.S.-Israel war, is costing the EU approximately 500 million euros daily. Von der Leyen urged member states to learn from the 2022 fuel crisis and reduce dependency on imported fossil fuels by increasing renewable and nuclear energy use. EU Energy Commissioner Dan Jørgensen described the situation as a serious crisis comparable to 1973 and 2022 combined.
UK manufacturing PMI rises to near four-year high amid surging cost pressures
UK manufacturing PMI finalized at 53.7 in April, the highest level since May 2022, driven by improvements in output, new orders, and employment. However, supply chain disruptions linked to Strait of Hormuz restrictions have lengthened supplier lead times and pushed input price inflation to near a four-year high. Analysts warn that front-loaded demand may cause growth to cool later in the year.
Iran war disrupts global energy system accelerating shift to renewables and nuclear
The war in Iran, launched two months ago by the United States and Israel, has blocked the Strait of Hormuz, causing a global energy crisis with fuel shortages in 25 countries. While some nations temporarily increased coal use, the disruption has accelerated investments in solar, wind, and nuclear power. Solar exports hit records, and countries like Taiwan, South Korea, Japan, and Belgium are restarting or planning new nuclear projects to secure reliable, low-emissions energy. The crisis challenges the long-term dominance of fossil fuels, though experts note challenges in replacing around-the-clock power from oil and gas.