International News 21 July 2025
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Chevron Secures Guyana Oil Stake with $55 Billion Hess Acquisition
Chevron Corp has officially completed its US$55 billion acquisition of Hess Corporation’s stake in the Stabroek Block offshore Guyana. This strategic move grants Chevron access to one of the largest oil discoveries in recent decades, with an estimated reserve of 11 billion barrels. The deal also marks a significant win over rival ExxonMobil, which had initially opposed the transaction due to its joint venture with Hess and China’s CNOOC Ltd in the same block. The acquisition is seen as a long-term strategy to strengthen Chevron’s free cash flow through the 2030s. Investors responded positively, viewing the deal as an entry into one of the fastest-growing, low-cost oil developments in the world. Despite earlier legal hurdles and regulatory scrutiny from the U.S. Federal Trade Commission, the deal was finalized ahead of schedule. The move is expected to enhance Chevron’s financial stability and dividend outlook amid ongoing global energy market uncertainties.
China’s Coal Imports from Indonesia Plunge 30% in June Amid Shift to Higher-Calorie Fuel
China’s coal imports from Indonesia dropped by 30% year-on-year in June 2025, falling to 11.62 million metric tons, according to customs data. This decline outpaced the overall reduction in China’s total coal imports and reflects a strategic shift by Chinese buyers toward higher-calorie coal, which produces more energy per ton and has become more economically attractive due to falling global prices. In the first half of 2025, China imported a total of 90.98 million tons of coal from Indonesia, marking a 12% decrease compared to the same period in 2024. The move away from low-calorie Indonesian coal comes as Chinese power producers prioritize fuel efficiency and cost-effectiveness. Meanwhile, total coal imports from all sources fell 26% year-on-year in June to 33.04 million tons, the lowest monthly figure in more than two years. For the January–June period, China’s total coal imports dropped 11% to 221.7 million tons, also driven by a rise in domestic coal output.
https://internasional.kontan.co.id/news/impor-batubara-china-dari-indonesia-turun-30-pada-juni-2025
Trump May Visit China Ahead of APEC Summit Amid Hopes to Ease Trade Tensions
U.S. President Donald Trump is reportedly considering a visit to China before the Asia-Pacific Economic Cooperation (APEC) Summit scheduled for October 30–November 1, 2025, in South Korea, according to sources cited by the South China Morning Post on Sunday (July 20). Alternatively, Trump may meet Chinese President Xi Jinping on the sidelines of the forum. This potential high-level meeting is seen as part of broader efforts to ease the ongoing tariff war that has disrupted global trade and supply chains. While discussions about the meeting are ongoing, no official date or venue has been confirmed. Trump recently proposed a 10% universal base tariff on all imports and higher tariffs on so-called “problematic” nations, with Chinese goods currently facing the highest rate at 55%. A deadline of August 12 has been set for the U.S. and China to finalize a long-term tariff agreement. The last high-level contact between the two nations occurred on July 11, when U.S. Secretary of State Marco Rubio met with Chinese Foreign Minister Wang Yi in Malaysia. The talks were described as “productive and positive,” and Rubio confirmed Trump had received a formal invitation from Xi for a visit. Meanwhile, Chinese Commerce Minister Wang Wentao reiterated China’s intention to restore stable trade relations with the U.S., noting recent European discussions showed there is no urgency to prolong the tariff conflict.