Oil refiners in Europe bet big on biofuels

Europe’s oil majors’ ‘big bet’ on hydrogen as the transport fuel for the future is not so big in reality, according to a new study on behalf of Transport & Environment (T&E), which shows that investments in biofuels refining are eight times bigger. T&E accuses oil producers of not being serious about investing in genuinely

Blueprint to decarbonise transportation released in the US

The Biden administration released the US National Blueprint for Transportation Decarbonization. Developed by the departments of Energy, Transportation, Housing and Urban Development, and the Environmental Protection Agency, the blueprint provides a strategy for cutting all greenhouse emissions from the transportation sector by 2050. In the area of maritime transportation, the report notes that, because of

IOC to monetise hydrogen units

Country’s largest public-sector refiner Indian Oil Corporation (IOC) plans to hive off hydrogen producing units and sulphur recovery facilities at its refineries to a separate entity and then sell stakes in it to the private sector to raise close to Rs 10,000 crore. The plan is in line with the government’s asset monetisation programme where

MOL to supply LNG to Japex and Hokkaido

MITSUI O.S.K. Lines Ltd. (MOL) signed an agreement with Japan Petroleum Exploration Co. Ltd. (Japex) and Hokkaido Gas Co. Ltd. (Hokkaido Gas) for the supply of liquified natural gas (LNG) fuel to two of its newly built LNG-fueled ferries. The ferries are operated by the MOL Group company, MOL Ferry. Each is berthed at the

Ocyan hires DNV to convert diesel drilling rigs

Ocyan, the Brazilian offshore drilling company, has engaged DNV as an independent third party in the qualification process of a system injecting hydrogen as an additive in the internal combustion engines of drilling rigs, in order to reduce diesel consumption and greenhouse gas (GHG) emissions from drilling. DNV’s technology qualification process will ensure that the

Number of crude oil suppliers to India increased

India increased the number of its crude oil suppliers from 27 countries in 2006-07 to 39 in 2021-22 and attributed the growth to the addition of new suppliers like Columbia, Russia, Libya, Gabon, and Equatorial Guinea while India strengthened its relationship with countries like US and Russia. Union minister for petroleum and natural gas Hardeep

South Korea to import hydrogen

The South Korean government announced that hydrogen produced in Malaysia and the UAE would be imported in 2027 and later for the purpose of power generation and export after conversion into ammonia. The hydroelectric power generation-based hydrogen in Malaysia is scheduled to be supplied by Samsung Engineering and Lotte Chemical. In the UAE, Korea Electric

ABS, HD Hyundai to work together on autonomous navigation

ABS and HD Hyundai, formerly known as Hyundai Heavy Industries, have penned a comprehensive memorandum of understanding to continue working together on autonomous navigation technologies for shipping. The scope of the deal builds on the previous strategic framework agreement that the companies signed in 2022 under which ABS worked with HD Hyundai subsidiaries, Avikus and

Petrobras carries out first bio-bunkering

Petrobras carried out the first bunker filling with renewable content in Brazil. At the Rio Grande Terminal (Terig), in Rio Grande do Sul, the vessel “Darcy Ribeiro”, from Transpetro, was fueled with the new fuel with a lower carbon footprint, a mixture of 90% in volume of fossil-based bunker fuel and 10% by volume of

Swan Energy to foray into Oil & Gas business

Swan Energy Ltd acquired erstwhile Anil Ambani group company Reliance Naval & Engineering (RNEL), plans to turn itself into the biggest private player in the manufacture of naval defence and oil and gas vessels. It will also aim to be the largest player in green ship-breaking, ship repairing and a hub for global manufacturing in