Eni suspends oil purchases from Russia

Italian energy major Eni has suspended all new purchases of oil and oil products from Russia, according to a statement. “Eni has suspended the stipulation of new contracts related to the procurement of oil and oil products from Russia,” said the emailed statement. “In any case, Eni will fully honor every decision to be taken

Maersk needs 730,000t of methanol per annum by 2025

A.P. Moller-Maersk A/S, one of the world’s largest oil consumers, has partnered with six energy companies to jump-start the green methanol market and help the shipping giant ditch fossil fuels. Maersk will be able to buy at least 730,000 tons of methanol per year by the end 2025, the Copenhagen-based company said on Thursday. That’s

Trial project on hydrogenating CO2 into green fuel achieves successes

The world-first facility, which was developed by the Dalian Insitute of Chemical Physics (DICP) and Zhuhai Futian Energy Technology, hydrogenates carbon dioxide into green fuels, which could help to reduce the amount of carbon dioxide in the atmosphere. A facility that will produce 1,000 tons of gasoline per year out of carbon dioxide has successfully

Australian LNG exports to Europe likely to increase

Australian exporters could secure new LNG export contracts for existing and new projects to Europe over the next few years as the region seeks to avoid a long-term gas crunch. LNG prices have soared in recent weeks, hitting a six-month high recently, as importers scramble to source new supplies to reduce their dependence on Russia.

Russian war on Ukraine is a fossil fuel war

For Svitlana Krakovska, Ukraine’s leading climate scientist, it was meant to be the week where eight years of work culminated in a landmark UN report exposing the havoc the climate crisis is causing the world. But then the bombs started to crunch into Kyiv. Krakovska, the head of a delegation of 11 Ukrainian scientists, struggled

Second part of National Hydrogen Mission in India under deliberation

National Hydrogen Mission policy’s second phase is currently under consideration by the central government’s expenditure finance committee, Minister of Power and New & Renewable Energy RK Singh said. The Ministry of Power notified the first part of the National Hydrogen Mission policy on green hydrogen and green ammonia on February 17. When asked about when

US imposes ban on Russian oil imports  

US President Joe Biden announced a ban on US imports of Russian oil on Tuesday, in the administration’s most far-reaching action yet to punish Moscow for invading Ukraine. “We’re banning all imports of Russian oil and gas and energy. That means Russian oil will no longer be acceptable at US ports and the American people

Russia warns of serious consequences for oil ban

Oil prices see-sawed on Tuesday even as Ukraine peace talks made little headway, torn between the prospect of a ban on Russian oil imports and Russia’s warning crude costs could rise to $300 a barrel. After the third attempt by Russia and Ukraine at talks in Belarus, a Ukrainian negotiator said although little progress on

Shell abandons Russian oil and gas

Shell PLC said it is withdrawing from dealing in Russian oil and natural gas, saying it would immediately halt all spot purchase of crude from the country and will phase out its other trading and business dealings. While Russian crude and gas has been exempt so far from Western sanctions, oil soared above $139 a

EU plans to cut energy dependence on Russian gas drastically

The European Commission has outlined a new energy roadmap designed to cut reliance on Russian gas by two-third in just a year, BBC reported. The plan envisages ending reliance on all Russian fossil fuels “well before” 2030. In the short term, gas should be sourced from the US and Africa while some countries may need