Amid cash crunch, refineries in Pakistan decline to increase production

Refineries in Pakistan declined the government’s call to raise output to ward off possible fuel shortages down the road as world oil markets are far from stable, citing multiple challenges including cash flow constraints. Local refineries in Pakistan after a meeting with Petroleum Division high-ups expressed their inability to increase production citing cash flow and

Mærsk Mc-Kinney Møller Center launches port partnership for European Green Corridors

Green corridors – cited by many decarbonisation experts as the best hope for fast-track shipping’s path to zero emissions – have been given a significant boost with news that the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping has established the European Green Corridors Network with the port authorities of Hamburg, Gdynia, Roenne, Rotterdam, and

G2 Ocean targets to become netzero by 2050

G2 Ocean, a Norwegian bulk shipping joint venture between Gearbulk and Grieg Star, has committed to becoming net zero emissions by 2050 and to bring in zero emission vessels by 2030. The company said that in addition to the reduction of greenhouse gas emissions per transported unit by a minimum of 40% by 2030 from

Credits for energy transition metals enhances decarbonization in mining

The Ukraine conflict has focused politicians’ minds on the need to reduce reliance on Russian hydrocarbon supply and ensure greater energy security. This goes hand-in-hand with an acceleration of the build-out of renewables and electrification of transport – both of which call for ready availability of energy transition metals. But producers are finding themselves in

Maersk signs MoU with Egypt on green fuel production

Maersk and Egyptian authorities have signed a partnership agreement to explore the establishment of large-scale green fuel production in Egypt. The Memorandum of Understanding (MoU) was signed on Monday in a joint bid to further accelerate the supply of green fuels and the global transformation to net-zero shipping. The parties will be conducting a feasibility

State-run refineries in India operate at full capacity in March

The country’s biggest state-run refiner in terms of capacity, IOC, and fellow refiner MRPL’s 300,000 b/d Mangalore refinery were operating at 100% or higher than their nameplate capacities. The two refiners have deferred some upcoming maintenance shutdowns because of current strong refining margins. BPCL’s 310,000 b/d Kochi, 240,000 b/d Mumbai and 156,000 b/d Bina refineries

US refiners import Middle East fuel oil

The United States last year imported about 700,000 barrels per day (bpd) of different types of fuel oil and other feedstocks that mostly went to U.S. Gulf Coast refineries to supplement heavy crude oil, according to market research data. Russia last year accounted for just under half of U.S. fuel oil imports, Mexico for 20%

Why mining industry should support carbon taxation?

As governments try to navigate a path to a safe climate in the 21st century, the public debate has focused on net zero, carbon taxes, electrification and renewable energy. Mining is rarely an anchor point of the discussion, even though renewable energy infrastructure and low-carbon technology require vast amounts of metals and minerals. Nickel, for

ABB launches digital solution for shipowners

ABB Turbocharging has launched a comprehensive digital solution that is said to offer shipowners simplified management of propulsion efficiency and emissions reporting as well as up to 20% reduction in fuel consumption. Named Tekomar XPERT marine, the system functions across all engines regardless of make, type and age. It comprises three modules covering the engine,

ABS presents the latest advances in sustainability

More than 30 maritime industry leaders from across Denmark, Norway, Sweden and Finland attended the ABS Northern Europe Committee to hear about the latest ABS advancements in sustainability and classification services. “We are pioneering new sustainability strategies and services to support our clients and members through their decarbonization journey. Because the sustainability challenge is too