Indian industry may get impacted by EU carbon tax

Indian industry must understand the diverse impact of the tax and prepare trade and low carbon production strategies to promote exports. The highest tax is on developing countries like India. Steel and aluminium sectors have high emission intensity and hence would attract high taxes. The estimated tax for steel made from the blast furnace route

Netzero target needs reduction in energy intensity

India’s goal of achieving the net zero target by 2070 would require an accelerated reduction in the energy intensity of GDP by around 5 per cent annually and a significant improvement in its energy-mix in favour of renewables to around 80 per cent by 2070-71, a report released by the Reserve Bank of India (RBI)

Nel Hydrogen invests in Michigan

Governor Gretchen Whitmer announced that Norwegian hydrogen company Nel Hydrogen is establishing an automated gigawatt electrolyzer manufacturing facility in Michigan. The project is expected to generate a total capital investment of up to $400 million and create more than 500 good-paying clean energy manufacturing jobs that build on Michigan’s leadership in the hydrogen space. Governor

Fratelli Cosulich along with IPLOM completes first biofuel supply

Fratelli Cosulich, in partnership with IPLOM (Piedmont Industry Processing Mineral Oils), has begun producing and supplying its own bio VLSFO to reduce the GHG intensity of marine fuels and meet the EU requirements. Fratelli, an Italian maritime transportation group, delivered bio VLSFO in collaboration with Genoa-based barge company Ottavio Novella in February 2023, becoming the

Sulzer’s flow technology selected for biofuel production

Sulzer was recently selected by a major energy producer in Canada that is using local canola (rapeseed) oil to produce renewable diesel at industrial scale. The innovative process will rely on a range of Sulzer flow equipment, including specially designed centrifugal pumps. The biofuel will be used to power vehicles, trains and industrial boilers, realising

New York to ban use of fossil fuel equipment

New York state is poised to phase in a ban on fossil fuel equipment in new construction starting in 2026, part of the state’s effort to switch to cleaner energy sources and reduce carbon emissions. The governor’s office said New York would be the first state in the U.S. to advance such a ban via

A.P. Moller-Maersk to celebrate first green methanol vessel

To celebrate the world’s first container vessel sailing on green methanol, A.P. Moller – Maersk will host a week of festivities, including the name-giving event and other activities September 18-21 in Copenhagen, Denmark. The 2,100 TEU feeder vessel is a small piece of history in the shipping industry. The dual-fuel engine vessel will pause in

Coal ministry aims to produce dry fuel in 2023-24

Indian coal ministry aims to produce 1,012 million tonnes of dry fuel in the current financial year. According to the action plan prepared by the ministry, 25 new reserves for commercial mining would be allocated during the current fiscal. Capacity expansion target for 2023-24 is Rs 21,030 crore, while the overall projected target of assets

Natural gas consumption in India likely to rise

Natural gas consumption in India is expected to rise in 2023 due to softening in LNG (liquefied natural gas) prices amid milder-than-expected winters in Europe, and muted demand in China, according to analysts. In the benchmark NYMEX platform, natural gas prices have fallen to $2.50 per mmBtu (metric million British thermal units) in April 2023,

Russian crude oil to India may end amid Western sanctions

The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis — after Washington’s warning to transgressors. Shipments from Russia to India have averaged over 1.8 million barrels a