NYK launches new ammonia designs

Nippon Yusen Kaisha (NYK), MTI and Elomatic have completed the concept design phase of a new capesize bulk carrier and a very large crude oil tanker (VLCC) in a project that aims to build an LNG-fuelled vessel that can be efficiently converted to an ammonia-fuelled vessel. The three companies are positioning these new hybrids as

CNOOC buys 5% stake in Petrobras’s Buzios oil field

Brazil’s state-owned oil company Petrobras announced that it had received $1.9bn from CNOOC Petroleum Brasil Ltd. (CPBL) for a 5% stake in a production-sharing agreement for the Buzios field in the pre-salt of the Santos Basin. The $1.9bn includes adjustments provided for in the contract. The transaction is subject to approval by Brazil’s Ministry of

First direct shipment of Australian gas arrives in Europe

The ongoing redrawing of the seaborne energy trading map in the wake of the war between Russia and Ukraine is making for some extraordinarily long journeys. Woodside Energy Group announced today it has shipped an LNG cargo direct to Europe from Australia’s North West Shelf project for the first time. The 75,000 tonne cargo was

ReNew Power and Elsewedy to develop green hydrogen plant

ReNew Power, India’s largest renewables company, will invest $8bn in a green hydrogen plant in the Suez Canal following an agreement with the Egyptian government. A green hydrogen plant is planned for the Suez Canal, following a 15 November 2022 framework agreement signed by ReNew Power, India’s largest renewables company, and the Egyptian government. A

MHI and EGAT to collaborate on clean power generation

Mitsubishi Heavy Industries, Ltd. (MHI) and Thailand’s Electricity Generating Authority of Thailand (EGAT) have signed a Memorandum of Understanding (MoU) to study and exchange information relating to clean power generation, hydrogen, carbon capture, utilisation and storage (CCUS) technologies. The MoU was signed in support of Thailand’s of achieving carbon neutrality by 2050. Set to take

ANZ to fast-track net zero transition

Australia and New Zealand Banking Group Ltd (ANZ) said it had earmarked A$100 billion (US$67.63 billion) to help its customers lower carbon emissions by 2030, as the lender looks to accelerate its transition to net zero. Part of the amount will be used for initiatives, which include facilitating concessional loans for businesses to buy energy-efficient

Rice University researchers developed a catalyst for hydrogen economy

Rice University researchers have engineered a key light-activated nanomaterial for the hydrogen economy. Using only inexpensive raw materials, a team from Rice’s Laboratory for Nanophotonics, Syzygy Plasmonics Inc. and Princeton University’s Andlinger Center for Energy and the Environment created a scalable catalyst that needs only the power of light to convert ammonia into clean-burning hydrogen

EY and Microsoft to help businesses develop ESG data management

The EY organization and Microsoft have announced a deepened strategic relationship to further develop environmental, social, and governance (ESG) data management offerings that support clients with achieving operational decarbonization and net-zero goals. EY said in a statement that through this commitment, EY and Microsoft will address a host of sustainability needs through technology, including improving

Gujarat will become green hydrogen hub: PM Modi

Gujarat will become the world’s biggest green hydrogen hub and will attract investments worth ₹8-10 lakh crore from across the world for the development of green hydrogen and its ecosystem, said Prime Minister Narendra Modi at a rally in Bhavnagar. Modi stated that in the coming years, the world order for energy will change drastically

For India West Arctic Ocean becomes major source of crude

A new source of Russian crude has emerged for India – the West Arctic Ocean. This new activity which has only been seen this year, started around March on aframax and suezmax tankers, as data from energy analytics firm Vortexa shows. Aframax tonne-miles out of the West Arctic Ocean were typically directed towards Europe, something