China is adding coal plants to tackle energy security concerns, but this doesn’t mean it is backing away from its previously stated emissions curbs, Chinese delegates said at the COP27 summit this week. China may be adding new coal plants to prevent a repeat poor performance from recent years that …
Read More »Why EV Battery Makers are in a Race to Develop Cheaper Cell Materials
American and European start-ups are racing to develop new batteries using two abundant, cheap materials — sodium and sulphur — that could reduce China’s battery dominance, ease looming supply bottlenecks and lead to mass-market electric vehicles. Today’s EVs run on lithium-ion batteries — made with lithium, cobalt, manganese and high-grade …
Read More »COP27 Reignites the Debate about Carbon Credits
COP27 is highlighting the controversial and sometimes contradictory nature of carbon credits as proposals for crediting schemes spark debate and even heckling at the event currently in its second and final week in Sharm El Sheikh, Egypt. While some argue that a carbon credit scheme is an essential form of …
Read More »Europe’s Energy Crisis may Last beyond Winter
Analysts agree that the severe economic impacts of the energy crisis are being felt in almost all economic sectors in Europe, and the problems are bound to remain until the conflict between Russia and Ukraine is resolved. The crisis in Ukraine has sent energy prices surging, which in turn pushed …
Read More »Oil slides on China Demand Worries
Oil prices slid on Wednesday as Covid-19 cases in China continued to climb, sparking worries about lower fuel demand in the world’s top crude importer that outweighed concerns about an escalation of geopolitical tensions and tighter oil supply. Brent crude futures dropped by 60c, or 0.6%, to $93.26 a barrel …
Read More »World Bank Group Creates Global Low-Carbon Hydrogen Tie-Up
The World Bank Group has created the Hydrogen for Development Partnership (H4D), a new global initiative to boost the deployment of low-carbon hydrogen in developing countries. The announcement was made on November 15, Energy Day, at COP27. H4D will help catalyse significant financing for hydrogen investments in the next few …
Read More »Russian Oil Exports Hold up despite Impending EU Ban
More than 1 million barrels a day of Russian oil exports are set to be upended by Western sanctions expected to come into force within weeks, shipments Moscow will struggle to redirect elsewhere which threatens to further tighten global energy markets, the International Energy Agency said Tuesday. Russian crude oil …
Read More »Iraq’s New Prime Minister Doubles Down on Oil & Gas Deals with China and Russia
It is possible that U.S. Secretary of State, Antony Blinken, believed for a moment that his call to the new Iraqi Prime Minister, Mohammed Shia al-Sudani, saying that Washington “is eager to work with the government and people of Iraq to improve respect for human rights, increase economic opportunities, advance …
Read More »Poland Seizes Russia’s Gazprom Assets
Minister of Development and Technology Waldemar Buda has acted on advice of the Internal Security Agency (ABW) to take over the shares owned by Gazprom in the EuRoPol Gaz company. EuRoPol is the owner of the Polish part of the Yamal-Europe gas pipe network. Up until now, Gazprom owned 48 …
Read More »Eight out of 13 Countries Increased Oil Production in October, OPEC
The Organization of the Petroleum Exporting Countries (OPEC) announced Tuesday that eight out of 13 countries, including Saudi Arabia, decreased their oil production last October. OPEC said in a report the production of OPEC member countries of oil dropped by 210,000 barrels per day (bpd) in the past month to …
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