ExxonMobil expands interest in biofuels, acquires stake in Biojet

ExxonMobil, one of the largest publicly traded international energy companies, is acquiring a 49.9% stake in Biojet AS, a Norwegian biofuels company.  By doing so, ExxonMobil is expanding its interests in biofuels that can help reduce greenhouse gas emissions in the transportation sector, as Biojet plans to convert forestry and wood-based construction waste into lower-emissions

Carbon offset credits set to soar on net zero ambitions

The price of carbon offsets – widely used by those seeking to counterbalance their pollution – is expected to rise by as much as 4800 per cent by 2050, as major emitters scramble to meet net zero targets. Carbon offsets were in 2020 being sold for about $US2.50 a tonne but with many countries pledging

What does it mean to divest from fossil fuels?

The fossil fuel divestment campaign has become one of the biggest anti-corporate campaigns. The institutions committed to divesting are estimated to be worth $39 trillion, more than the annual GDP of the US and China combined. Fossil fuel divestment is the act of investing in climate solutions and selling stakes in non-renewable energy sources. Divestment

Fossil fuel firms among biggest spenders on Google ads

Fossil fuel companies are among the biggest spenders on Google ads that look like search results, revealed a joint study by The Guardian and InfluenceMap, a think-tank that tracks the lobbying efforts of polluting industries. As part of the study, 78 climate-related terms were searched on Google and it was found that one in five

LNG propulsion conversion project successfully completes milestone

A conversion project to allow the ferry MS Münsterland to consume liquefied natural gas (LNG) as a bunker fuel which started on 19 May 2020 has recently reached a milestone, according to operator AG EMS. The project is funded by the Federal Ministry of Transport and Digital Infrastructure as part of the implementation of the

South Korea’s move to label LNG as green fuel buys time for energy transition

South Korea’s move to include LNG in its taxonomy for green fuels will buy the country more time to transition to a net zero economy and help allay immediate concerns about energy security given its heavy dependence on gas for power generation. Government officials said that Seoul will prioritize the reduction of coal consumption for

IOCL needs to make consumers aware of ethanol-mixed petrol: Dealers

The Greater Guwahati unit of the North East India Petroleum Dealers’ Association (NEIPDA) has appealed to the Indian Oil Corporation Limited (IOCL) to make consumers aware of ethanol-blended motor spirit (petrol) before distributing such fuel among retail outlets in the city. The association had earlier decided that its member retail outlets, a majority of which

Ethanol blending in petrol hits 8.1% on better supplies

Ethanol blending in petrol has risen to 8.1% in the year 2020-21, up from 5% in the previous year and 1.5% in 2013-14, thanks to a raft of policy measures that helped increase supply through a combination of assured purchases at government-set remunerative prices and interest subsidy for production capacity expansion. The government has been

Gas utilities push RNG and hydrogen to expand fossil fuel infrastructure

Electric and gas utilities are increasingly targeting customers, regulators, and investors with the promise of “renewable natural gas,” or biomethane, and hydrogen gas. In their promotions, the utilities have claimed that these technologies will allow them to build gas-fueled power plants and gas pipelines today while remaining on a pathway toward “net-zero” emissions climate goals.

Hambantota Port expects phenomenal growth

The Hambantota International Port (HIP), which continues to come under attack by the opposition, said it expects phenomenal growth in the services it offers. HIP in a statement said that it has received FSS certification (Fitness for Service) for their tank farm facility. The certification was issued by Lloyd’s Register (LR), the World’s leading provider