Fleischanderl’s passion for improving and developing the sector is tangible, an important attribute as hard-to-abate sectors struggle to keep up with global emissions targets. Primetals is a global plant engineering company catering for the steel sector and a member of the Mitsubishi Heavy Industries (MHI) Group. Primetals was recently in …
Read More »Lukoil to Build Catalytic Cracking Complex at Perm Refinery
LUKOIL announces the start of a catalytic cracking complex construction project at the Perm refinery. The project is implemented under an agreement with the Ministry of Energy of the Russian Federation on providing an investment incentive as part of the negative excise tax on refinery feedstock until January 1, 2031. …
Read More »Putin Says Russia Intends to Maintain Gas Transit via Ukraine after 2024
Russian President Vladimir Putin said Moscow is ready to maintain gas supplies to Europe through Ukraine after the current gas transit contract ends in 2024. The remarks came during German Chancellor Angela Merkel’s trip to Moscow, which is likely to be the last in her capacity as chancellor as she …
Read More »New China-Russia Railway Bridge to Boost Bilateral Trade, Energy Cooperation
A new bridge—part of China’s ambitious Belt and Road Initiative—will now connect China and Russia’s railway systems. The China-Russia Tongjiang-Nizhneleninskoye Bridge connects Tongjiang, a city in China’s far northeastern Heilongjiang province, with Nizhneleninskoye, a town across the border with Russia, along the Amur river. The cross-river bridge is 2,215 metres …
Read More »Oil Breaks out of Seven-Day Losing Run on Softer Dollar
Oil prices rose on Monday, recovering from a seven-day losing streak as investors hunted for bargains and a softer dollar lent support, though persistent anxiety over surging cases of the Delta coronavirus variant kept sentiment cautious. Brent crude futures climbed $1.16, or 1.8%, to $66.34 a barrel by 6.30am, after …
Read More »Estimate that Oover Half of Norwegian Oil and Gas Left Unexplored Prompts Debate on Fossil Fuels
Norway has long been one of the world’s leaders in exports of energy resources. While over the decades, the oil and gas revenues have been the foundation for the so-called Oil Fund, the world’s largest sovereign wealth fund, demands for a complete halt in oil and gas exploration have of …
Read More »IKEA Starts Selling Renewable Energy to Households in Sweden
IKEA, the world’s biggest furniture brand, is branching out into selling renewable energy to households, starting with home market Sweden in September, Trend reports citing Reuters. Ingka Group, the owner of most IKEA stores worldwide, said households would be able to buy affordable renewable electricity from solar and wind parks, …
Read More »Merkel says Europe will Need No Russian Gas in 25 years
Europe wants to achieve climatic neutrality in 25 years and will need much less gas than today, German Chancellor Angela Merkel said on Sunday after talks with Ukrainian President Vladimir Zelensky. “Europe will need to achieve climatic neutrality step by step by 2050,” she said. “It means that in 25 …
Read More »Merkel Says Russia-Ukraine Transit Accord Must Be Extended
Chancellor Angela Merkel reinforced her pledge to ensure Russian gas flows through Ukraine, an economic lifeline for the former Soviet republic threatened by the Nord Stream 2 gas pipeline linking Russia to Germany. A gas-transit accord between Russia and Ukraine must be extended “as quickly as possible,” Merkel said at …
Read More »President Raisi Underlines Facilitating Non-Oil Exports
President Ebrahim Raisi said on Sunday that there should be mechanisms to expand and facilitate non-oil exports and bring back proceeds to the domestic economy. Speaking during a session of Economic Coordination Headquarters, Raisi pointed to currency obligations arising from exports, saying that barriers against fulfilling these obligations should be …
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