Latest news with #EIA
The Star
5 hours ago
- Business
- The Star
20% of forest plantation projects in operation
GUA MUSANG: Only about one-fifth of all forest plantation projects approved by the Department of Environment (DOE) since 2020 has begun operations, says the body's Kelantan director Wan Aminordin Wan Kamarudin. These projects have received approval for their Environmental Impact Assessments (EIA), he said, adding that the remaining 80% have yet to begin operations. 'Any development activity carried out in Kelantan forest reserves exceeding 100ha must submit an EIA report,' he said, Bernama reported. An EIA involves studying the socio-economic impact of a project on the surrounding area and is a legal requirement before operations start, Wan Aminordin added. When it comes to forest plantations, the department is concerned about their impact on the Orang Asli community because they bear the direct brunt of these projects, he said. 'The EIA report is important to identify the affected areas, including the impact on water tables, the safety of residents, orchards and other community-related matters following development, whether it is forest plantations or mining,' he said. Wan Aminordin was speaking to reporters at the 4Xplore Explore Nature: Our Legacy on Earth with Environmental Friends programme in conjunction with the state-level World Environment Day 2025 celebration at Pos Pulat here. EIAs, he added, also involved getting comments and views from various agencies, including the Forestry Department, Land and Mines Office and the state Health Department. 'We set conditions that must be adhered to, including that developers must provide control measures such as sediment trap ponds and install infrastructure that can prevent erosion in the project area,' he said. Last year, the DOE issued a prohibition order on a mining company in Gua Musang and ordered it to cease operations immediately. On Dec 18 last year, the Natural Resources and Environmental Sustainability Ministry issued a stop-work order to two companies suspected of polluting Sungai Kelaik, Pos Blau, based on DOE's investigation into the two companies' compliance with the Environmental Quality Act 1974 (Act 127). A news portal revealed how Sungai Kelaik's water had turned red after contamination from an upstream iron ore mine.
Yahoo
11 hours ago
- Business
- Yahoo
Nat-Gas Prices Surge in Anticipation of Hot US Weather
August Nymex natural gas (NGQ25) on Friday closed sharply higher by +0.213 (+6.04%). Aug nat-gas prices on Friday rallied sharply in anticipation of hotter US weather boosting nat-gas demand from electricity providers to power increased air-conditioning usage. Forecaster Atmospheric G2 said Friday that forecasts shifted warmer for most of the US for July 7-11, except for the southern tier and West Coast. Crude Oil Prices Climb on Positive Trade News Nat-Gas Prices Surge in Anticipation of Hot US Weather Crude Oil Settles Higher on US-China Trade Optimism Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Nat-gas prices sank to a 1-month nearest-futures low Thursday on a larger-than-expected build in weekly EIA inventories. As of June 20, nat-gas inventories were +6.6% above their 5-year seasonal average, signaling adequate nat-gas supplies. The easing of geopolitical risks also undercut nat-gas prices this week due to the Israel-Iran ceasefire. The ceasefire reduces the likelihood that Iran will close the Strait of Hormuz and disrupt LNG shipments through that Strait, which accounts for approximately 20% of global LNG trade. Lower-48 state dry gas production on Friday was 105.2 bcf/day (+1.7% y/y), according to BNEF. Lower-48 state gas demand on Friday was 74.3 bcf/day (+1.0% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Friday were 14.8 bcf/day (+7.4% w/w), according to BNEF. A decline in US electricity output is negative for nat-gas demand from utility providers. The Edison Electric Institute reported Wednesday that total US (lower-48) electricity output in the week ended June 21 fell -3.1% y/y to 91,334 GWh (gigawatt hours), although US electricity output in the 52-week period ending June 21 rose +2.6% y/y to 4,243,923 GWh. Thursday's weekly EIA report was bearish for nat-gas prices since nat-gas inventories for the week ended June 20 rose +96 bcf, above the consensus of +88 bcf and the 5-year average for the week of +79 bcf. As of June 20, nat-gas inventories were down -6.6% y/y, but were +6.6% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of June 23, gas storage in Europe was 57% full, compared to the 5-year seasonal average of 66% full for this time of year. Baker Hughes reported Friday that the number of active US nat-gas drilling rigs in the week ending June 27 fell by -2 to 109 rigs, slightly below the 15-month high of 114 rigs from June 6. In the past nine months, gas rigs have risen from the 4-year low of 94 rigs posted in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Time of India
12 hours ago
- Business
- Time of India
UT to hire consultant to get green nod for mkt
Chandigarh: The Chandigarh administration is set to appoint a consultant to obtain environment clearance for the much-delayed bulk market in Sector 56. This clearance is required from the ministry of environment. The total area of the project may necessitate environmental clearance, which will also require holding a public hearing. "As per the rules related to the environment, the clearance is necessary for projects where the built-up area is 20,000 square metres or more. For this, work on the project cannot start without approval as per the guidelines of the Environment Impact Assessment (EIA) on the instructions of the ministry of environment, forest and climate change. Therefore, it is imperative for the administration to obtain this approval for the market," said an official. In the bulk market to be built in Sector 56, the Dhanas marble market and furniture market businesses are to be rehabilitated. The estate office plans to auction booths and other properties in this market. There are one-kanal 200 plots and 55 booths in the market. tnn The market has been in the works for several years now. Last year, the administration finalised the plan to develop the market in Sector 56. The proposed market will offer an opportunity for operators from the marble and furniture markets to purchase plots or booths in the bulk market. Consequently, these illegal markets will be shifted to the new market. The administration planned to demolish both markets after the start of the bulk market.
Mint
12 hours ago
- Business
- Mint
US oil/gas rig count falls for 4th month to Oct 2021 low, Baker Hughes says
June 27 (Reuters) - U.S. energy firms cut the number of oil and natural gas rigs operating for a fourth month in a row to the lowest since October 2021, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by seven to 547 in the week to June 27. Baker Hughes said oil rigs fell by six to 432 this week, also their lowest since October 2021, while gas rigs decreased by two to 109. In June, drillers cut 16 oil and gas rigs, putting the total count down for a fourth month in a row for the first time since June 2024. The oil and gas rig count declined by about 5% in 2024 and 20% in 2023 as lower U.S. oil and gas prices over the past couple of years prompted energy firms to focus more on boosting shareholder returns and paying down debt rather than increasing output. The independent exploration and production (E&P) companies tracked by U.S. financial services firm TD Cowen said they planned to cut capital expenditures by around 3% in 2025 from levels seen in 2024. That compares with roughly flat year-over-year spending in 2024, and increases of 27% in 2023, 40% in 2022 and 4% in 2021. Even though analysts forecast U.S. spot crude prices would decline for a third year in a row in 2025, the U.S. Energy Information Administration (EIA) projected crude output would rise from a record 13.2 million barrels per day (bpd) in 2024 to around 13.4 million bpd in 2025. On the gas side, the EIA projected an 84% increase in spot gas prices in 2025 would prompt producers to boost drilling activity this year after a 14% price drop in 2024 caused several energy firms to cut output for the first time since the COVID-19 pandemic reduced demand for the fuel in 2020. The EIA projected gas output would rise to 105.9 billion cubic feet per day (bcfd) in 2025, up from 103.2 bcfd in 2024 and a record 103.6 bcfd in 2023. (Reporting by Scott DiSavino Editing by Marguerita Choy)
Yahoo
14 hours ago
- Business
- Yahoo
Crude Oil Prices Climb on Positive Trade News
August WTI crude oil (CLQ25) today is up +0.73 (+1.12%), and August RBOB gasoline (RBQ25) is down -0.94 (-0.35%). Crude oil and gasoline prices today are mixed. Crude is climbing today on signs of easing trade tensions as the US moves closer to trade deals with China and other trading partners. Also, uncertainty over Iran gave crude prices a boost after US Energy Secretary Wright said that sanctions against Iran will remain in place for now. In addition, today's rally in the S&P 500 to a new record high shows confidence in the economic outlook, which is supportive of energy demand and crude prices. Gains in crude oil are limited, and gasoline prices fell due to a stronger dollar. Also, the crude crack spread today slid to a 1-1/2 week low, discouraging refiners from buying crude and refining it into gasoline and distillates. How High Can Middle East Turmoil Drive Crude Oil Prices? Nat-Gas Prices Fall to 6-month Low on Bearish EIA Report and Cooler Temps Dollar Weakness and Stock Strength Push Crude Oil Prices Higher Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Crude prices rallied today after US Commerce Secretary Lutnick said that the US and China had finalized a trade understanding reached last month in Geneva. Also, Commerce Secretary Lutnick said the White House has imminent plans to reach agreements with a set of 10 major trading partners ahead of a July 9 deadline for reciprocal tariffs. Crude oil prices have underlying support from US and European intelligence reports suggesting that Iran may still have most of its stockpile of 60% enriched uranium even after the Israeli and US bombing runs, which means that sanctions will likely remain in place until Iran agrees to nuclear inspections. Concern about a global oil glut is negative for crude prices. On Wednesday, Russia stated that it is open to another output hike for OPEC+ crude production in August, when the group meets on July 6. On May 31, OPEC+ agreed to a 411,000 bpd crude production hike for July after raising output by the same amount for June. Saudi Arabia has signaled that additional similar-sized increases in crude output could follow, which is viewed as a strategy to reduce oil prices and punish overproducing OPEC+ members, such as Kazakhstan and Iraq. OPEC+ is boosting output to reverse the 2-year-long production cut, gradually restoring a total of 2.2 million bpd of production. OPEC+ had previously planned to restore production between January and late 2025, but now that production cut won't be fully restored until September 2026. OPEC May crude production rose +200,000 bpd to 27.54 million bpd. Gasoline prices have support from the American Automobile Association (AAA) projection that a record 61.6 million people will travel by car this Fourth of July holiday (June 28 to July 6), up +2.2% from last year and a sign of stronger gasoline demand. Oil prices continue to be undercut by tariff concerns, as President Trump recently stated that he intends to send letters to dozens of US trading partners within one to two weeks, setting unilateral tariffs ahead of the July 9 deadline that followed his 90-day pause. A decline in crude oil held worldwide on tankers is bullish for oil prices. Vortexa reported Monday that crude oil stored on tankers that have been stationary for at least seven days fell by -13% w/w to 79.66 million bbl in the week ended June 20. Wednesday's EIA report showed that (1) US crude oil inventories as of June 20 were -10.9% below the seasonal 5-year average, (2) gasoline inventories were -2.8% below the seasonal 5-year average, and (3) distillate inventories were -20.3% below the 5-year seasonal average. US crude oil production in the week ending June 20 was unchanged w/w at 13.435 million bpd, modestly below the record high of 13.631 million bpd from the week of December 6. Baker Hughes reported last Friday that active US oil rigs in the week ending June 20 fell by -1 to a 3-3/4 year low of 438 rigs. Over the past 2-1/2 years, the number of US oil rigs has fallen from the 5-1/4 year high of 627 rigs posted in December 2022. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
