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U.S. crude stocks down, fuel inventories rise - EIA


By Reuters Staff
2 Min Read
FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo
(Reuters) - U.S. crude stocks fell for the 11th straight week as refiners ramped up output, but fuel inventories grew sharply due to weak consumer demand, the Energy Information Administration said on Wednesday.
Crude inventories fell by 5.2 million barrels in the week to June 4 to 474 million barrels, the 11th straight weekly inventory decline as refiners have boosted output as the economy recovers after the COVID-19 pandemic and in anticipation of more summer driving. ....

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EBRD to extend 60 mln euros loan to Bulgarian Eurohold


By Reuters Staff
1 Min Read
SOFIA, June 9 (Reuters) - The European Bank for Reconstruction and Development (EBRD) said on Wednesday it would extend up to 60 million euros ($73.10 million) in a five-year senior loan to Eurohold for its acquisition of Czech CEZ’s Bulgarian assets.
Bulgarian financial and insurance group Eurohold will use the proceeds from the EBRD loan, along with a planned capital increase and other senior loans to complete its 335 million euro deal with CEZ by the end of June.
Eurohold has mandated JP Morgan to structure the debt financing for the overall acquisition, which it sees at about 490 million euros. The EBRD estimated the total costs at 525 million euros. ....

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Clean energy investment needed to avert emissions surge in developing world, says IEA


5 Min Read
BARCELONA (Thomson Reuters Foundation) - Investment in clean energy in emerging and developing economies needs to rise by more than seven times, topping $1 trillion per year by 2030, to put the world on track for net-zero emissions by 2050, the International Energy Agency (IEA) said on Wednesday.
In a report carried out with the World Bank and the World Economic Forum, the IEA said that, without far stronger action, energy-related carbon dioxide emissions from those economies – mostly in Asia, Africa and Latin America – would grow by 5 billion tonnes over the next two decades.
By contrast, carbon emissions are projected to fall by 2 billion tonnes in advanced economies and plateau in China. ....

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