India targets to obtain 500GW non-fossil fuel capacity by 2030

India’s non-fossil energy capacity is projected to reach 500GW by 2030 stated Niti Aayog member VK Saraswat while addressing the Norway-India Business Summit 2022 organised by CII in collaboration with the Embassy of Norway. This will also help India achieve half of its energy requirements by further facilitating a reduction of carbon footprint approximately by

Russian fossil fuel exports increased since Ukraine invasion

A latest report by a Finland-based think tank has revealed that the fossil fuel exports have been one of the key factors in the Russian invasion of Ukraine. The Centre for Research on Energy and Clean Air in its report has delved into the fossil fuel exports by Russia, of which the European Union has

Europe could face a sharp slowdown of growth with Russian gas cut-off

Russia’s suspension of natural gas service to Poland and Bulgaria will not do immediate damage to the European economy, but Europe could face a sharp slowdown of growth if the cutoff spreads to other countries — or if Europe imposes an embargo on Russian gas. Russia’s war on Ukraine is already rippling through Europe, lashing

Germany top buyer of Russian energy

Germany was the biggest buyer of Russian energy during the first two months of the war in Ukraine, an independent research group said. A study published by the Centre for Research on Energy and Clean Air calculates that Russia has earned 63 billion euros ($66.5 billion) from fossil fuel exports since Feb. 24, the date

Russian diesel imports to Europe down

European diesel imports from Russia are set to fall in April but will still exceed those from other regions, highlighting the challenge European governments face as they contemplate new sanctions on Russian oil. Diesel deliveries from Asia, the Middle East and the United States are set to hit their highest in almost three years in

MAN awards ‘no objection’ to cylinder oils

Shell Marine’s Alexia 40 XC cylinder oil, Chevron Marine Lubricants’ Taro Ultra Advanced 40 and ExxonMobil’s Mobilgard 540 AC 40BN marine cylinder oil have all received a no objection letter (NOL) from Man Energy Solutions (MAN ES) for use with the OEM’s marine engines. MAN ES awarded the NOLs after the oils successfully completed MAN’s

Indian crude runs set to increase amid healthy margins

India saw its average refining run rates slowing marginally in March amid volatility in crude oil prices triggered by the Russia-Ukraine conflict, but analysts expect robust margins and a sustained revival in demand for oil products to lift overall year-on-year growth in throughput close to double digits. In addition to a sharp recovery in oil

Bank shareholder proposals to curb new fossil fuel lending get slim support

Shareholder proposals asking banks to take stronger action on climate change by ending new fossil fuel financing activities failed to get much support at investor meetings. Investors at Citigroup and Bank of America gave little backing to proposals essentially asking the banks to stop financing new fossil fuel supplies, with less than 13% of shares

Manufacturers display EV products to Indian Army

India’s leading manufacturers of electric vehicles (EVs) gave a demonstration of their products to Defence Minister Rajnath Singh, Army Chief Gen M M Naravane and senior officials as the world’s second largest army gears up to induct EVs. Representatives of Tata Motors, Perfect Metal Industries and Revolt Motors showcased their EVs and briefed Singh about

Mitsubishi signs MoU with Infinium to accelerate decarbonization

Mitsubishi Heavy Industries, Ltd. (MHI) announced today it has signed a Memorandum of Understanding with Infinium, an Electrofuels™ innovator headquartered in California. The agreement, which builds on MHI’s 2021 investment in Infinium, will focus on exploring the deployment of Infinium’s proprietary Electrofuels™ technology in the Japanese market. According to Infinium, Electrofuels™ are classified as ultra-low