Biden using oil reserves to regulate gas prices

President Joe Biden ordered the release of 1 million barrels of oil per day from the nation’s strategic petroleum reserve for six months, a bid to control energy prices that have spiked after the United States and allies imposed steep sanctions on Russia over its invasion of Ukraine. The president said it was not known

Germany to ration power to manage gas supplies

Germany triggered an emergency plan to manage gas supplies under which Europe’s largest economy could ration power if a standoff over a Russian demand to pay for fuel with roubles disrupts or halts supplies. Moscow’s insistence on rouble payments for the Russian gas that meets a third of Europe’s annual energy needs has galvanised others

Caterpillar to put money on developing methanol engine technologies

Engine maker Caterpillar announced it is investing to develop methanol engine technologies as the commercial maritime sector continues to engineer and implement new solutions to reduce emissions. The company called the cleaner burning fuel a key to decarbonization in the marine industry. Compared to conventional fuels, methanol produces fewer emissions such as SOx, NOx and

Methanol-powered vehicles testing begins in China

China’s Zhejiang Geely Holding Group started testing three methanol-powered vehicles in Demark with a goal of selling the vehicles in European markets. The three models, two Geely-badged Emgrand compact sedans and one Farizon-brand M100 heavy-duty truck, will undergo testing for 15 months. The methanol vehicles have already been tested and passed China’s State VI emissions

E ON signs an MoU with Forrest for $50 billion green hydrogen project

Australia iron ore billionaire Andrew Forrest has struck a potential $50 billion green hydrogen agreement with German energy giant E.ON to produce up to five million tonnes of green hydrogen by 2030. The landmark agreement could deliver one third of Forrest’s hugely ambitious plans to produce 15 million tonnes of green hydrogen by 2030, a

Germany thinks of alternative ways to replace Russian oil dependence

As Germany attempts to reduce its dependence on Russian gas, the strong fumes from manure and other organic waste on farms could act as an alternative energy source. An hour’s drive west of Berlin, a strong smell emanates from three large cylinders in the middle of a muddy field on Kaim’s property, which is shared

Amid global oil and gas crisis, support increases for nuclear-powered ships

Support is growing for Mikal Bøe-led Core Power, a high-profile developer of nuclear propulsion for merchant ships. First launched in 2018, Core Power today can boast 49 shipping companies as backers of the UK firm, a grouping made up of owners, operators and managers who, combined, control more than 4,000 ships. James Marshall-led Berge Bulk

US considers hydrogen as solution for energy security

Concerns related to both the energy transition and energy security have been thrown into sharp relief by Russia’s invasion of Ukraine. Russia is a major supplier of oil and gas, and over the past few weeks a number of major economies have laid out plans to reduce their reliance on its hydrocarbons. On Friday, the

BASF Group targets to cut its global emissions by 25%

BASF confirmed that by 2030 it aims to reduce its greenhouse gas emissions by 25% compared with 2018 and is maintaining its goal of net-zero emissions globally by 2050. On its path to reducing global emissions to 16.4 million metric tons by 2030, BASF is publishing annual CO2 emissions forecast for the BASF Group as

Indian energy companies formed an independent group for green hydrogen advocacy

Six renewable energy companies of India have formed an independent advocacy group for green hydrogen. The companies include Acme Group, Azure Power and Fortum India. The Independent Green Hydrogen Association (IGHPA) aims to engage with the government and other stakeholders to achieve India’s objective of becoming a green hydrogen and ammonia producing country and an