India major driver of fuel demand: Puri

Inviting global firms to invest in the opportunities in the country’s oil and gas sector, Union minister of petroleum and natural gas Hardeep Singh Puri said on Wednesday that the “real growth story as a critical driver of (fuel) demand will come from India”. Puri was speaking at the inauguration of the oil and gas

Will Oil Ever Become Truly Worthless?

Could fossil fuels and Big Oil actually become ‘worthless’ within the next few decades, and what would this mean for the global economy? New research suggests as many as half of the world’s fossil fuel assets could become worthless by 2036 if the green energy transition goes ahead at the pace projected coming out of

Fuel price gap leaps to highs not seen since the introduction of the global sulphur cap

The price gap between high and low sulphur fuel oil has widened to extremes not seen since around the introduction of the global sulphur cap in January 2020. While the difference in price between the two dominant fuels has averaged around $110 per ton in the first 22 months of the sulphur cap era, in

Geely introduces methanol-powered truck

Geely, a Chinese manufacturer that owns brands such as Volvo and Lotus, among others, presented a concept truck that will be a direct rival to Tesla Semi. However, unlike Elon Musk’s truck, which is basically electric, the so-called “Homtruck” promises to be more versatile as it also uses a range extender and a version with

Singapore Bunker sales volume increase by 2.5% on year in October

Marine fuel sales at Singapore port increased by 2.5% on year during October 2021, according to Maritime and Port Authority of Singapore (MPA) data. In total, 4.25 million metric tonnes (mt) (exact 4,254,700 mt) of various marine fuels were sold at the world’s largest bunkering port in October, an increase from 4.15 million mt (4,152,400

Biomethanol price not conducive to bunkering

Shipowners switching to biomethanol as a marine fuel to curb CO2 emissions would face higher bunker bills at today’s prices, even after accounting for the added cost of CO2 life cycle emissions from very low-sulphur fuel oil (VLSFO). Marine fuels sale and consumption are not subject to greenhouse gas restrictions or fees, but the EU

How much is spent supporting fossil fuels and green energy?

World leaders agreed to phase-out “inefficient” subsidies for fossil fuels at the COP26 climate summit in Glasgow.  Despite pledges to limit support, governments around the world spend more than $420bn (£313bn) each year subsidising the non-renewable energy, according to the UN Development Programme. How do fossil fuel subsidies work and which countries are spending the

Why India is the worst polluter of sulphur dioxide?

India is kicking the can down the road on sulphur dioxide emissions despite being the world’s biggest emitter of the pollutant, according to an expert. Despite Boris Johnson declaring the world was at “one minute to midnight” on climate change at COP 26 climate summit, power plants in India are repeatedly being given extensions after

Raizen, Shell to supply second-generation ethanol to Ferrari F-1 team

Brazilian energy company Raizen SA and its shareholder Royal Dutch Shell Plc (RDSa.L) signed an agreement with the Ferrari Formula 1 team to supply second-generation, high-performance ethanol from next year, when the main motor racing category will begin using 10% ethanol blend in gasoline. Source: Reuters Tags: Biofuels, Ethanol, Ferrari F-1 team

Indian Oil and NTPC ink deal to collaborate on green energy

State-run Indian Oil Corporation and NTPC have signed an agreement for collaborating on renewable energy. “IndianOil and NTPC have come together for the generation and storage of renewable energy or other cleaner forms of energy, including gas-based power, primarily to cater for IndianOil Refineries or other installations,” the companies said in a joint statement. Source: