Indian refining giant Reliance Industriesmakes a bigger push towards clean energy and transport, and has acquired the assets of battery maker Lithium Werks for $61 million. Reliance’s investment in Lithium Werks, which manufactures lithium iron phosphate batteries that are mainly used in electric vehicles (EVs), includes funding for future growth, the company said late on
Union Minister Nitin Gadkari will inaugurate a pilot project by the Toyota Kirloskar Motor Ltd along with International Center for Automotive Technology (ICAT) on March 16. The ministry said Toyota Kirloskar Motor Pvt. Ltd, along with the International Center for Automotive Technology (ICAT), is conducting the pilot as part of Toyota’s commitment towards promoting sustainability
Greek containership owner Danaos Corporation has ordered two methanol ready 7,100 TEU containerships in China. As informed, the vessels will be built at Dalian Shipbuilding in China and are expected to be delivered to Danaos in the second and third quarters of 2024. The counterparties of Danaos to the shipbuilding contracts, Dalian Shipbuilding and China
Europe’s leading hydrogen fuel cell producer Proton Motor Fuel Cell GmbH enables ship and maritime manufacturers to implement climate-neutral fuel cell propulsion systems for the inland and offshore sectors. The company specializes in modular systems “Made in Germany” and uses graphitic bipolar plates, as only these meet the technical and commercial performance requirements of the
A senior German official predicted Tuesday that the war in Ukraine and its impact on fossil fuel prices worldwide will provide a “massive boost” for the means and measures needed to curb climate change. Patrick Graichen, Germany’s deputy energy and climate minister, said rising global prices for oil, gas and coal will accelerate the uptake
The new biodiesel plant built by Austrian process engineering company BDI-BioEnergy International and operated by Rossi Biofuel will make an important contribution to sustainable circular economy in Hungary. For Rossi Biofuel, building the new plant is a commitment to sustainable innovation and profitability and will result in 150,000t annual CO2 savings. Rossi is a subsidiary
Lucrative offers for Russian spot crude cargoes may look attractive at first glance, but Asian oil importers appear reluctant to close deals as they cautiously weigh shipping risks, bandwidth to absorb incremental supplies, and risks to sensitive bilateral relations with key trading partners. Although crude oil above $100/b makes any kind of discount attractive to
Chamba district in the state of Himachal Pradesh will soon have a green hydrogen fuel generation plant. The hydrogen plant will be set up by the National Hydroelectric Power Corporation (NHPC). The decision was taken in a meeting of Chamba district administration with NHPC Ltd held recently which was presided over by Chamba Deputy Commissioner
Indian Oil Corp, the country’s top refiner, bought 3 million barrels of Russian Urals from trader Vitol for May delivery, trade sources said, its first purchase of the grade since Russia invaded Ukraine on Feb. 24. Western sanctions against Russia have led many companies and countries to shun its oil, depressing Russian crude to record
It was a double-whammy for two of then-President Donald Trump’s biggest patrons, Vladimir Putin and American fossil-fuel billionaires and their industry: the price of oil was too low. Between the pandemic-induced collapse in demand for oil and the price war Saudi Arabia was then fighting with Russia — two of the world’s largest producers —