Indian Oil Corp plans to spend $30 billion to achieve its net-zero operational emissions target by 2046, the oil refiner’ chairman said. The company also announced an investment of Rs1 lakh crore ($12bn) to increase its refining capacity, already India’s largest, by a third. Under this plan, Indian Oil will have a refining capacity of
More than 90% of rainforest carbon offsets are worthless. These credits are essentially a promise to protect forests and can be bought as a way to “offset” emissions elsewhere. But experts say the claims were “absolutely incorrect”. It shows unequivocally that many projects which have sold what are known as REDD+ (reducing emissions from deforestation
China Energy Shipping Investment (CESI), a joint venture between COSCO Shipping and Sinopec, is set to order three 175,000 cu m LNG carriers worth around $761m. In a regulatory filing, Sinopec said the Hong Kong-incorporated investment holding company, 51% owned by Shanghai Cosco Shipping LNG, a subsidiary of COSCO Shipping Energy Transportation and 49% owned
A proposal to mandate hard-to-abate sectors such as refineries and fertiliser conmpanies to use green hydrogen as feedstock is soon going to be tabled before the Union cabinet, India’s minister for power and new and renewable energy RK Singh said. He, however, did not specify the proposed percentage of green hydrogen consumption mandate that are
Blue ammonia, an attractive fuel for the maritime industry, is expected to become available in significant quantities by 2027, with the potential for significant scale-up in production over subsequent years, according to a recent report by Maersk Mc-Kinney Moller Center for Zero Carbon Shipping. The report titled ‘Will CO2 storage limit blue fuel availability for
Maritime trades have been powered by residual fuels that emit high levels of air pollutants and greenhouse gases for decades, but a growing number of regulators are pushing vessel operators to use greener energy sources. Now Having lowered the global sulfur cap for bunker fuels earlier this decade, the International Maritime Organization has set decarbonization
The uniquely designed vessel will be fully battery powered, with e-motor driven Wärtsilä waterjets as the main propulsors.
India’s oil import bill declined 35.3% during the first four months of FY24 due to easing crude oil prices over the past year. Refiners imported 79.4 million metric tonnes of crude oil for $41.6 billion during April-July, compared to 81.3 MMT for $64.3 billion in the same period of last fiscal, according to the Petroleum
Union Road Transport and Highways Minister Nitin Gadkari on Wednesday said he will unveil a 100 per cent ethanol-fueled variant of Toyota’s Innova car on August 29. The Union minister, who has been exhorting automakers to come out with alternative fuel-powered and green vehicles, had last year launched a hydrogen-powered car, Toyota Mirai EV. This
After laying foundation stone for three renewable pumped storage power projects producing 5,314 MW of power in Nandyal district, chief minister Y S Jagan Mohan Reddy said these projects were environment-friendly and would reduce dependence on fossil fuels. Andhra Pradesh chief minister Y S Jagan Mohan Reddy exuded confidence that the state would become number