With Russian tanks entering eastern Ukraine, bunker prices have hit an all-time high. Back in the summer of 2008, a couple of months ahead of the collapse of Lehman Brothers and the global financial crisis, the average price for IFO 380 fuel, then the dominant shipping fuel, at the world’s top four bunkering hubs averaged
Russian president Vladimir Putin’s decision to send troops into Ukraine spooked energy markets this week, amid fears that the escalating conflict and ensuing sanctions could disrupt global fossil-fuel supplies. Russia is one of the world’s largest producers of petroleum, natural gas, and coal, so any actions that curtail exports could have global ripple effects, pushing
ABB and Ballard have received an approval in principle (AiP) for a high-power fuel cell concept designed for marine applications. The companies said the AiP from DNV is a major milestone in developing new technology, since it is an independent assessment of the concept and confirms that the design is feasible and no significant obstacles
What is the relationship between Russia’s threats to Ukraine and the gas price crisis? Gas prices are soaring globally, largely because of the resurgence of demand for fossil fuels after the Covid-19 pandemic and lockdowns, depleted storage and the difficulty of ramping up supply after the disruptions of the past two years. But prices have
MAN Energy Solutions has completed the construction of the methanol-synthesis unit for a pilot plant in southern Chile to produce synthetic fuels known as eFuels. The methanol-synthesis unit uses Johnson Matthey proprietary CO2 to methanol technology. After commissioning, scheduled for fall 2022, the plant will produce up to 750 metric tons per year of green
CMA CGM along with Maritime and Port Authority of Singapore (MPA) has started biofuel bunkering in Singapore as part of its global trial to scale-up the wider adoption of the clean energy. Its 10,640 teu vessel, APL Paris, was the first of the group’s vessels on trial to be bunkered with biofuel in the city-state.
India could become a global green energy superpower with exports of clean energy rising to $500 billion over the next 20 years, Mukesh Ambani, chairman of Reliance Industries, said on Wednesday. India is one of the most attractive destinations for renewable energy investments, Ambani said, adding that he believes the union government is extremely committed
India’s fuel demand is likely to grow 5.5% in the next fiscal year beginning April 1, initial government estimates show, reflecting a pick-up in industrial activity and mobility in Asia’s third largest economy after months of stagnation. India’s fuel consumption in 2022-23, a proxy for oil demand, could rise to 214.5 million tonnes from the
The familiar practice of mixing corn-based ethanol biofuel into petrol may not be as environmentally friendly as using straight petrol, a new study in the US has suggested. Research published in the Proceedings of the National Academy of Sciences says that corn-based ethanol “is not a climate-friendly fuel”. In fact, the study suggests it’s 24
The COP26 meeting held in Glasgow on climate change issues discussed accelerating action and strategies toward achieving objectives outlined in the Paris Agreement. Consequently, India has committed to increasing its non-fossil fuel energy capacity to 500 GW by 2030, reducing the economy’s carbon intensity to less than 45% in 2030 compared to 2005 levels, and