ExxonMobil expands interest in biofuels, acquires stake in Biojet

ExxonMobil, one of the largest publicly traded international energy companies, is acquiring a 49.9% stake in Biojet AS, a Norwegian biofuels company.  By doing so, ExxonMobil is expanding its interests in biofuels that can help reduce greenhouse gas emissions in the transportation sector, as Biojet plans to convert forestry and wood-based construction waste into lower-emissions

Carbon offset credits set to soar on net zero ambitions

The price of carbon offsets – widely used by those seeking to counterbalance their pollution – is expected to rise by as much as 4800 per cent by 2050, as major emitters scramble to meet net zero targets. Carbon offsets were in 2020 being sold for about $US2.50 a tonne but with many countries pledging

What does it mean to divest from fossil fuels?

The fossil fuel divestment campaign has become one of the biggest anti-corporate campaigns. The institutions committed to divesting are estimated to be worth $39 trillion, more than the annual GDP of the US and China combined. Fossil fuel divestment is the act of investing in climate solutions and selling stakes in non-renewable energy sources. Divestment

Fossil fuel firms among biggest spenders on Google ads

Fossil fuel companies are among the biggest spenders on Google ads that look like search results, revealed a joint study by The Guardian and InfluenceMap, a think-tank that tracks the lobbying efforts of polluting industries. As part of the study, 78 climate-related terms were searched on Google and it was found that one in five

Tidal Transit reduced fuel usage and emissions with catalytic hydrogen technology

Tidal Transit’s offshore wind energy crew transfer vessel Kitty Petra was fitted with the Ecomotus EcoPro catalytic hydrogen system in 2020, and Commercial Director Leo Hambro believes that the reductions in vessel fuel consumption and CO2 and NOx emissions clearly demonstrate that the system should be widely adopted by the offshore energy marine sector, saying:

HHI Group sets out to create new standard in sea transport with robotics and green fuel

Hyundai Heavy Industries (HHI) Group plans to set new standard in sea transportation through autonomous navigation, liquid hydrogen transport, and intelligent robotics technology. “Hyundai Heavy Industries Group has grown into the world`s biggest shipbuilder over the past 50 years. Now, it will become a “Future Builder,” creating new values for humankind,” said Chung Ki-sun, CEO

Spliethoff group vessels trialling biofuels

Spliethoff Group has announced it is trialling the use of biofuels for its vessels. The first trial took place between June and November last year on BigLift Shipping’s heavy transport vessel (HTV) BigLift Baffin. The vessel was supplied with a blend of 50 per cent FAME-based biofuel – a second generation biofuel, made from waste

LNG propulsion conversion project successfully completes milestone

A conversion project to allow the ferry MS Münsterland to consume liquefied natural gas (LNG) as a bunker fuel which started on 19 May 2020 has recently reached a milestone, according to operator AG EMS. The project is funded by the Federal Ministry of Transport and Digital Infrastructure as part of the implementation of the

South Korea’s move to label LNG as green fuel buys time for energy transition

South Korea’s move to include LNG in its taxonomy for green fuels will buy the country more time to transition to a net zero economy and help allay immediate concerns about energy security given its heavy dependence on gas for power generation. Government officials said that Seoul will prioritize the reduction of coal consumption for

IOCL needs to make consumers aware of ethanol-mixed petrol: Dealers

The Greater Guwahati unit of the North East India Petroleum Dealers’ Association (NEIPDA) has appealed to the Indian Oil Corporation Limited (IOCL) to make consumers aware of ethanol-blended motor spirit (petrol) before distributing such fuel among retail outlets in the city. The association had earlier decided that its member retail outlets, a majority of which