According to the International Energy Agency (IEA), worldwide subsidies for fossil fuel consumption increased dramatically in 2022, surpassing $1 trillion for the first time. This surge in subsidies was caused by energy market turbulence, which led to international fuel prices soaring well above what many consumers paid. Consumption subsidies are energy price cuts for consumers,
The Netherlands is assessing several applications for international fossil fuel projects that could be granted state funding until the end of 2023, most of which target the LNG supply chain. Dutch export credit agency Atradius — in charge of the country’s public financing for foreign fossil fuel projects — received 10 such applications before the
Hyliko, a French start-up, plans to integrate Toyota’s second-generation hydrogen fuel cell modules into heavy-duty trucks for their zero-emission fleet offering. This latest cooperation into the truck sector further expands Toyota’s portfolio of partnerships where it provides its fuel cell technology for hydrogen solutions across diverse sectors including trains, buses, generators, and various marine applications.
Mitsui OSK Lines’ (MOL), the Japan’s largest shipowner, has signed a memorandum of understanding with compatriot firm Air Water to jointly study the trial use of liquefied bio-methane (LBM) derived from cattle manure in LNG-fuelled vessels. Other shipping lines, notably CMA CGM, are also looking at LBM at the moment. This joint study in Japan
BHP is trialling the use of Hydrotreated Vegetable Oil (HVO) to help power mining equipment at its Yandi iron ore operations in Western Australia. Supplied through a collaboration with bp, the renewable diesel made from HVO will be used in haul trucks and other mining equipment over an initial three-month trial period. BHP has a
A team of Northwestern researchers has conducted a study exploring ways to reduce reliance on imports of the in high-demand mineral graphite, which powers everything from electric vehicles (EVs) to cell phones. The paper, which published in the journal Environmental Science and Technology, is the first natural and synthetic graphite material flow analysis for the
Freeport LNG, the operator of the second-largest U.S. LNG export facility, has received regulatory approval to resume commercial operations of its natural gas liquefaction. The Freeport LNG export facility in Texas has been shut down since June last year when a fire broke out and damaged the plant. The authorization received provides for the immediate
Union Petroleum Minister Hardeep Puri said the HPPCL Rajasthan Refinery (HRRL) project will be ready by January 2024 and will be fully functional by 2024. The petroleum minister said that the ministry will request Prime Minister Narendra Modi to inaugurate the refinery in January 2024. The greenfield refinery-cum-petrochemical complex at Barmer, Rajasthan, is being set
Inmarsat has successfully achieved the ‘world’s first carbon neutral rocket launch’ after launching the 1-6 F2 satellite from Cape Canaveral. The 1-6 F2 spacecraft was launched into space about the SpaceX Falcon 9 rocket from Cape Canaveral, reaching a top speed of almost 40,000km/h before reaching space above central Africa. The satellite will now spend
According to the Delhi-based think tank Council on Energy, Environment and Water (CEEW) India should create a carbon emissions trading scheme (ETS) similar to what the European Union or South Korea have set up. The CEEW recommended a cap-and-trade mechanism for greenhouse gas emissions that can be made applicable to various sectors in order to