HSFO demand lifts Singapore’s 2021 bunker fuel sales

Singapore’s bunker fuel sales in 2021 rose by 0.3% on the year to 49.99mn t in response to strong high-sulphur fuel oil (HSFO) demand and record container throughput, according to the city-state’s Maritime and Port Authority (MPA). This is the second-highest total on record after the port of Singapore, the world’s largest bunkering hub, achieved

Exxon pledges to cut emissions – but not from its oil

Oil giant Exxon Mobil announced that it aims to achieve net-zero greenhouse gas emissions by 2050. More specifically, it has the “ambition” to reach net-zero emission from its operations within the next 28 years. “We’ve got a line of sight,” Exxon’s chief executive, Darren Woods, said in an interview with the New York Times. “By

Fossil-fuel billionaire Ambani boosts green energy ambitions

The conglomerate led by Mukesh Ambani, Asia’s richest man, announced plans to invest $76 billion toward clean energy projects, dwarfing an earlier commitment of $10 billion by the world’s biggest fossil-fuel billionaire. Reliance Industries Ltd., controlled by Ambani, has signed pacts with the state government of Gujarat for a total investment of 5.96 trillion rupees

How to accelerate the net-zero transition in transport

The role of transport was front and center at COP26 in Glasgow, Scotland. Leaders from nations, cities, international organizations, NGOs – and notably the private sector – zeroed in on the role of transport as one of three critical sources of carbon emissions as well as the only sector still increasing in its greenhouse gas

Global energy transition to cause short-term economic pain

The transition to clean energy required to prevent temperatures from rising swiftly could shave 2% off global GDP by 2050 but is likely recoverable before the end of the century, a report by natural resources consultancy Wood Mackenzie said on Thursday. While investments in technologies like solar and wind farms, advanced batteries will generate jobs,

Why it matters to go beyond net-zero plan

’Net-zero’ pledges have been made globally over the past few years, committing organisations to manage greenhouse gases emissions. In 2021, more firms and governments committed themselves to becoming net-zero before 2050 with the aim of fighting climate change. Net-zero targets are a critical tool to fight climate change and stakeholders are pushing companies to make

Drop fossil fuel clients, over 450 scientists urge ad agencies

More than 450 scientists from across the world but mostly from the US, have together called on the executives of major advertising and public relations firms to drop their fossil fuel clients to help stop spread of disinformation around climate change. Stating that climate actions are hugely and negatively impacted by such publicity, the scientists,

‘A lot of climate tech start-ups will fail’ : Bill Gates

Bill Gates is excited about how many new climate tech start-ups have popped up in recent years. He also thinks that plenty of them won’t last. “The number of companies working on these things is very exciting,” Gates said in a virtual session of the World Economic Forum. “Some of them will fail. A lot

India’s affinity for US shale plays fading slowly but surely

The move by state-run explorer Oil India Ltd to exit the US shale business months after Reliance Industries divested all its US shale assets signals the intent of India’s oil companies to reduce their overseas footprint and focus at home where the energy landscape is expected to change at breakneck speed, analysts told S&P Global

India’s oil production continues to slip, down 2% in December

India’s production of crude oil, which is refined to produce petrol and diesel, continued to decline in December 2021, with lower output from state-owned ONGC leading to a near 2 per cent drop, official data showed on Wednesday. Oil production in December 2021 was 2.51 million tonnes, down from 2.55 million tonnes a year earlier