Costs in India for green hydrogen could fall remarkably

Green hydrogen costs in India could potentially fall by half to as low as ₹160-170 per kg by 2030, bringing parity with grey hydrogen and other fossil fuels, says a KPMG study. Current green hydrogen production costs range anywhere between ₹320 and ₹330 per kilogram in India. KPMG in India estimates, current grey hydrogen (hydrogen

Top finance firms offered fossil fuel industry $740bn of funding

A damning new analysis of the energy investments of the world’s 30 biggest listed financial firms has revealed that they collectively provided $740bn to the fossil fuel industry in 2020 and 2021 – often with limited requirements on climate. Promisingly, 29 of the 30 companies have committed to achieving net-zero financed emissions by 2050 or

Anticipating food deficiencies, Biden creates fossil fuel task force

“With regards to food shortages, it’s going to be real,” President Biden declared after meeting with NATO allies in Brussels, saying both Russia and Ukraine have been the breadbasket of Europe. “The price of these sanctions is not just imposed on Russia, it is imposed on an awful lot of countries as well, including European

Wartsila offers tech support to Salamanca vessel

Wartsila will provide technical support via a 10-year service agreement for its solutions installed on Brittany Ferries’ LNG-fuelled RoPax vessel, the Salamanca. The Salamanca – which will be inaugurated on 25 March and make its first commercial sailing from Portsmouth to Bilbao on 27 March – is the first LNG-fuelled passenger ferry to operate from

US refiners import Middle East fuel oil

The United States last year imported about 700,000 barrels per day (bpd) of different types of fuel oil and other feedstocks that mostly went to U.S. Gulf Coast refineries to supplement heavy crude oil, according to market research data. Russia last year accounted for just under half of U.S. fuel oil imports, Mexico for 20%

Green hydrogen project construction to begin soon in Saudi Arabia

Work is to begin this month on a $5bn project to produce green hydrogen at Saudi Arabia’s futuristic Neom mega-development. When complete in 2026, the plant will be the world’s biggest producer of hydrogen from renewable sources. The plant is being built by Pennsylvanian company Air Products, which agreed a deal for the scheme in

RIX Industries develops technology to switch to green fuel propulsion

A Californian company has debuted technology that requires no major retrofit to make today’s bunker fuel guzzling generation of ships switch to hydrogen. RIX Industries is touting its methanol-to-hydrogen solution as a way to future proof existing vessels from incoming green legislation. With RIX technology, hydrogen is not stored but rather created as needed through

Fossil fuel suppliers in the US link bank credit to climate targets

American fossil-fuel suppliers are moving to tie their bank credit lines to sustainability goals, including slashing their carbon footprint. DCP Midstream LP, which operates natural gas pipelines, unveiled Tuesday that interest and fees paid on its $1.4 billion revolving credit facility with banks such as Mizuho Financial Group and JPMorgan Chase & Co. are now

Wartsila presents various options for energy’s decarbonised future

The technology group Wärtsilä has published an important paper on the role of sustainable fuels in the energy sector’s transition towards decarbonised power generation. Future carbon-neutral fuels and the use of flexible engine power plants capable of utilising such fuels, will be central to this transition. Along with the growing need to decarbonise engine power

Why mining industry should support carbon taxation?

As governments try to navigate a path to a safe climate in the 21st century, the public debate has focused on net zero, carbon taxes, electrification and renewable energy. Mining is rarely an anchor point of the discussion, even though renewable energy infrastructure and low-carbon technology require vast amounts of metals and minerals. Nickel, for