India’s oil import bill declines by 35%

India’s oil import bill declined 35.3% during the first four months of FY24 due to easing crude oil prices over the past year. Refiners imported 79.4 million metric tonnes of crude oil for $41.6 billion during April-July, compared to 81.3 MMT for $64.3 billion in the same period of last fiscal, according to the Petroleum

Foundation stones laid for three renewable storage power projects in AP

After laying foundation stone for three renewable pumped storage power projects producing 5,314 MW of power in Nandyal district, chief minister Y S Jagan Mohan Reddy said these projects were environment-friendly and would reduce dependence on fossil fuels. Andhra Pradesh chief minister Y S Jagan Mohan Reddy exuded confidence that the state would become number

Global south countries forced to rely on fossil fuel

Poor countries with heavy debts have been forced to continue to rely on fossil fuels for generating revenue to return the loans taken from richer countries and private lenders to meet various economic exigencies like the pandemic three years ago, a new report said. These countries, mostly in the global south, may find it impossible

Infrastructure Net Zero aligns private-public collaboration

Seven private sector peak bodies and three federal agencies have announced the launch of Infrastructure Net Zero as a joint initiative to co-ordinate, collaborate and report on Australian infrastructure’s pathway to net zero. This collaboration recognises the shared responsibility of decarbonisation and the opportunity to create an aligned and effective use of collective time, resources,

Maersk to introduce 500 EVs for distribution network

A.P. Moller – Maersk (Maersk) has the ambition to be Net Zero across business and provide customers with 100% green solutions by 2040. To achieve this goal, there is a strong need to decarbonise logistics at every stage. It is important not only for Maersk to achieve these sustainability goals but for the customers too,

Railways sanctions work with carbon-neutral growth strategy

In a step towards low carbon transition to adopt a carbon neutral growth strategy, Indian Railways has awarded an ambitious infrastructure project worth Rs 210 crore for creation of 411 washing/pit lines across the country. Indian Railways has implemented provision of 750 volt power supply for maintenance of Linke Hofmann Busch (LHB) rakes at washing/pit

Data is the key to a future of emissions trading

High profile decisions at July’s Marine Environment Protection Committee will accelerate the International Maritime Organization’s decarbonisation ambitions for shipping, but a proposal of apparently smaller consequence could lay down a data marker for global emissions trading. Less convergence is apparent on carbon pricing. Proposals before MEPC 80 aim to incentivise greener fuels, with levy and

Saudi Arabia’s $2.6 bn mining decarbonization deal

At the end of July, a $2.6 billion deal with Brazil’s biggest miner, Vale SA, gave Saudi Arabia a 10 percent interest in mines from Canada to Indonesia that produce copper, nickel and other industrial metals — all critical materials needed to help the world decarbonize. The deal set the stage for a landmark shift

IRS to provide classification services to six Hybrid Electric Catamarans for IWAI

Indian Register of Shipping (IRS), a leading international ship classification society, has secured an order for providing classification services for six hybrid electric catamarans for the Inland Waterways Authority of India (IWAI). The vessels will be constructed at Hooghly Cochin Shipyard Ltd., Kolkata. The six vessels are intended for providing inland ferry services, with a

ClassNK offers necessary preparations for new EU Fuel rules

ClassNK recently released FAQs on the FuelEU Maritime (1st Edition), an overview and necessary preparation for FuelEU Maritime, regulations newly introduced by the European Union (EU) to promote the decarbonization of fuels used on board ships. The EU has set a goal of reducing greenhouse gas (GHG) emissions by at least 55% by 2030, compared