AGL 37.90 Increased By ▲ 0.33 (0.88%)
AIRLINK 132.00 Decreased By ▼ -0.50 (-0.38%)
BOP 5.64 No Change ▼ 0.00 (0%)
CNERGY 3.79 Increased By ▲ 0.02 (0.53%)
DCL 8.70 Decreased By ▼ -0.17 (-1.92%)
DFML 40.89 Decreased By ▼ -0.11 (-0.27%)
DGKC 88.65 Decreased By ▼ -1.51 (-1.67%)
FCCL 35.25 Increased By ▲ 0.17 (0.48%)
FFBL 66.20 Decreased By ▼ -0.30 (-0.45%)
FFL 10.37 Increased By ▲ 0.22 (2.17%)
HUBC 109.20 Increased By ▲ 2.80 (2.63%)
HUMNL 14.20 Increased By ▲ 0.80 (5.97%)
KEL 4.85 Decreased By ▼ -0.01 (-0.21%)
KOSM 7.03 Increased By ▲ 0.18 (2.63%)
MLCF 42.10 Increased By ▲ 0.30 (0.72%)
NBP 59.80 Increased By ▲ 1.22 (2.08%)
OGDC 184.93 Increased By ▲ 3.68 (2.03%)
PAEL 25.60 Decreased By ▼ -0.10 (-0.39%)
PIBTL 5.88 Increased By ▲ 0.05 (0.86%)
PPL 148.10 Decreased By ▼ -0.30 (-0.2%)
PRL 23.12 Decreased By ▼ -0.10 (-0.43%)
PTC 16.33 Increased By ▲ 1.09 (7.15%)
SEARL 68.20 Decreased By ▼ -0.59 (-0.86%)
TELE 7.26 Increased By ▲ 0.02 (0.28%)
TOMCL 35.85 Decreased By ▼ -0.15 (-0.42%)
TPLP 7.55 Increased By ▲ 0.15 (2.03%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.90 Increased By ▲ 0.05 (0.1%)
UNITY 26.38 Decreased By ▼ -0.02 (-0.08%)
WTL 1.22 Increased By ▲ 0.01 (0.83%)
BR100 9,773 Increased By 5.4 (0.06%)
BR30 29,763 Increased By 362.6 (1.23%)
KSE100 92,058 Increased By 120.4 (0.13%)
KSE30 28,708 Decreased By -35.8 (-0.12%)

BEIJING: China said it has increased daily coal production by over one million tonnes, easing its energy shortage as world leaders gather in Britain for climate talks billed as one of the last chances to avert catastrophic global warming.

The world's biggest coal importer has battled widespread power cuts in recent months that have disrupted supply chains, due to strict emissions targets and record prices for the fossil fuel.

But the crisis is now winding down thanks to a boost in domestic coal output, according to a statement from China's top economic planning body late Sunday.

The National Development and Reform Commission said average daily coal production has risen to above 11.5 million tonnes since the middle of October, up by 1.1 million tonnes compared with the end of September.

The production surge comes as world leaders -- but not Chinese president Xi Jinping -- convene in Glasgow for COP26 talks to secure more ambitious global greenhouse gas emissions.

Xi, whose country is the world's largest emitter of planet-heating gases, has instead submitted a written statement to the summit.

In recent months, several Chinese factories were forced to halt operations due to power outages, raising concern about global supply chains.

The squeeze had also been exacerbated by Beijing's zero-tolerance Covid-19 policy that saw it all but close its borders to the outside world, hindering shipments of raw materials from overseas.

A trade tiff with Australia also heightened the drop in coal imports.

But at one point in late October daily output hit 11.72 million tonnes, a record in recent years.

Spot prices for the fuel are also "falling fast" with the main contract for thermal coal halving to 970 yuan per tonne over the previous eight days.

"Levels of coal storage have also risen rapidly with the gradual improvement of the supply-demand situation," the agency said.

China generates about 60 percent of its energy from burning coal.

Comments

Comments are closed.