Saudi Arabia transfers 4% of Aramco to wealth fund

Saudi Arabia has transferred 4% of the shares in state-controlled Saudi Aramco to the country’s sovereign wealth fund, the Public Investment Fund (PIF), the government said today, in a move aimed at supporting efforts to restructure the kingdom’s economy and diversify it away from oil. The transfer, which was announced by Saudi Crown Prince Mohammad

Europe’s biggest banks provide £24bn to oil and gas firms despite net zero pledges

Europe’s biggest banks led by HSBC, Barclays and BNP Paribas have provided £24bn to oil and gas companies that are expanding production less than a year since pledging to target net zero carbon emissions, data shows. Investments to drill new oil wells and tap fresh gas reserves, backed by funds from major banks, appear to

USDOE will build nation’s first large-scale facility to turn fossil fuel waste into rare materials

The vast majority of critical minerals and rare earth elements that help power electric vehicles and wind turbines come from mining operations overseas. But a new initiative spearheaded by the US Department of Energy is looking for ways to extract them from fossil fuel waste. The Energy Department plans to build the nation’s first large

Medical leaders call on UK ministers to end new fossil fuel exploration

Medical leaders have made a rare intervention in the climate change debate, calling on the UK government to halt new oil and gas exploration to avoid further damage to the nation’s health. The broadside is contained in a letter signed by institutions with a combined membership of more than 250,000, including the British Medical Association,

At bioenergy crossroads, should corn ethanol be left in the rearview mirror?

Transportation is responsible for a larger share of greenhouse gas emissions than any other sector of the US economy, making biofuels a promising strategy to mitigate human-driven climate change. The US Renewable Fuel Standard, created by 2007 legislation, mandates that such fuels partially replace petroleum-based ones. So far, however, the mandate has been nearly entirely

Indian Scientists develop unique way to produce 99.99% pure hydrogen fuel

Indian Scientists have developed a unique way to produce 99.99% pure hydrogen fuel from methanol-water mixture—which uses only one-third of the electricity required in water electrolysis. The Indian scientists developed a Polymer Electrolyte Membrane (PEM) to produce hydrogen at a low temperature of 25-60 degrees Celsius through the ECRM process. The hydrogen thus produced is

First dual-fuel engines for Japanese power segment enter service

Two MAN 12V51/60DF engines ordered by Kawasaki Heavy Industries, Ltd. (KHI) in 2020 have entered service in Japan’s domestic power market. The engines are based at the Miyako Island power plant, owned and operated by the Okinawa Electric Power Company (OEPC). The engines will generate around 24 MW of electrical power for not only base-load,

Diesel-powered trucks can run on renewables, thanks to this new Gates-backed tech

The diesel big rig is starting to move into the carbon-free future: Electric semi trucks are already beginning to make deliveries around the country. But although they can work well for short trips—and Volvo’s newest electric semi will be able to travel up to 275 miles before charging—they still aren’t yet a viable alternative for

Reliance Industries targets to become world’s top blue hydrogen maker

Billionaire Mukesh Ambani’s Reliance Industries Ltd is targeting to become one of the largest producers of blue hydrogen globally, producing the zero-emission fuel at costs that will be half of the global average. The operator of the world’s largest oil refining complex will re-purpose a Rs 30,000 crore plant that currently converts petroleum coke into

Green Hydrogen is the fuel of the future, aim to export it to the world: Gadkari

Roads and Highways Minister Nitin Gadkari said on Thursday, February 10, that green hydrogen was the fuel of the future and he intends to export it to the whole world. A Toyota car fueled by green hydrogen from the Faridabad lab of Indian Oil will be tested in the city located in Haryana on March