Beware of Egypt's smokestack reshoring as Cement Exports Soar: Maguire
North Africa's second largest natural gas producer and its largest economy have increased the production and exports of several energy-intensive commodities in an effort to boost the growth of their industrial sector. Egypt's exports of chemicals, fertilizers, and cement doubled from 2022 to 2024. They have also grown by 350% in the last year thanks to government initiatives aimed at promoting rapid industrial growth.
Beware of Egypt's smokestack reshoring as Cement Exports Soar: Maguire
North Africa's second largest natural gas producer and its largest economy have increased the production and exports of several energy-intensive commodities in an effort to boost the growth of their industrial sector. Egypt's exports of chemicals, fertilizers, and cement doubled from 2022 to 2024. They have also grown by 350% in the last year thanks to government initiatives aimed at promoting rapid industrial growth.
Oil Dips on Larger US Crude Draw, Russia Sanctions
Oil prices fell back slightly on Thursday, a day after settling at multi-month highs on U.S. President Joe Biden's latest sanctions targeting Russia and a larger than forecast fall in U.S. crude stocks.Brent crude futures were down 12 cents, or 0.15%, to $81.91 per barrel at 1415 GMT, after rising 2.6% in the previous session to their highest since July 26.U.S. West Texas Intermediate crude futures were down 18 cents…
The industry in the breakaway Moldovan region shuts down due to lack of Russian gas
An official confirmed on Thursday that the cutoff of Russian gas supply to Moldova's Transdniestria region, which is a breakaway region of Moldova, has forced all industrial companies - except for food producers - to close. The Russian gas cutoff to Central and Eastern Europe through Ukraine on Wednesday has caused a severe and immediate impact on the mainly Russian-speaking region of 450,000 people that split off from Moldova during the Soviet Union's collapse in the 1990s.
After gas was cut off, the power plant of the breakaway region in Moldova switches to coal
Transdniestria's main power plant has switched to coal since Russian gas supplies were halted Jan. 1. It should be able to provide electricity to residents of the breakaway region in January and Febraury, according to the leader of the region. The cutting off of Russian gas through Ukraine on Wednesday has caused heating and hot-water supply cuts in the mostly Russian-speaking territory, which split from Moldova early in the 1990s. Russia also has 1,500 soldiers in this area.
The copper giant Peru predicts another plateau in production by 2025
According to analysts and the top mining association in Peru, copper production will remain flat for the third consecutive year in 2025, due to declining ore grades. The South American nation is a global powerhouse in the copper industry, ranking third behind Chile and the Democratic Republic of the Congo. In 2023, the Congo will overtake Peru as the second-largest producer. The decline…
The copper giant Peru predicts another plateau in production by 2025
According to analysts and the top mining association in Peru, copper production will remain flat for the third consecutive year in 2025, due to declining ore grades. The South American nation is a global powerhouse in the copper industry, ranking third behind Chile and the Democratic Republic of the Congo. In 2023, the Congo will overtake Peru as the second-largest producer. The decline…
A survey shows that big steelmakers are not switching to renewable energy sources.
A survey of 18 major firms revealed that the world's largest steelmakers are falling further behind in their shift to low-carbon production. Some still rely on fossil fuels as their primary source of energy. The steel industry is responsible for around 7% of the global CO2 emissions. This is about the same as India. Coal-fired blasting furnaces produce 2 tons of CO2 per ton of output.
Germany's chemical lobby calls for regulatory reform and growth agenda
VCI, the industry lobby group in Germany, said that to achieve climate neutrality while remaining competitive and improving its performance it is necessary for regulation changes. VCI, which published two of its own studies, said that the crises in the last few years had left a mark on the balance sheet of chemical and pharmaceutical firms. Boston Consulting Group, in a study on the mood of the industry…
Signals of bearishness are triggered when price trends diverge.
On Wednesday, the direction of spot electricity prices in Germany and France diverged. However, the dominant trends of increasing renewable output and declining demand created a bearish wholesale environment. In Germany, the demand for electricity is down by 1.7 Gigawatt Hours per Hour (GWh/h), but wind and solar power generation are both up by 7.3 GWh/h & 0.9 GWh/h respectively. This results in a reduction of almost 10 GWh/h in residual load…
Russia aims to counter West’s climate agenda by using gas and nuclear power
Pavel Sorokin, deputy energy minister of Russia, said that the country will set its own climate goals and make proposals to combat global warming in an effort to counter the agenda promoted by Western countries. His remarks could be a preview of potential clashes during the COP29 U.N. Climate Summit, due to take place November in Azerbaijan. The Ukraine conflict has strained relations between Russia and the west, and they differ on many issues including climate.
Malaysia generates enough surplus energy for large development projects and exports. PM says
Malaysia generates enough surplus energy to power major new development projects and grow its exports. Its prime minister announced this on Thursday as the country tries to attract investors to its special economic zone planned with Singapore. The two countries are planning to sign a deal before the end of this year for the development of a special economic zone (SEZ) in Malaysia's southern Johor State, just north from Singapore.
Oil Minister: India will continue to buy cheap Russian oil
Hardeep Singh puri, the oil minister, said that India was willing to continue buying oil from Russian companies who are permitted to sell oil at such low prices. Puri said in an interview given at the GasTech Conference in Houston that Western sanctions against Russia for its war in Ukraine have limited the price Russia could charge for its crude. India, he added, is willing to buy oil and natural gas from anyone at the lowest prices possible.
Poland's 2030 climate plan includes 56% renewable energy
The climate minister announced on Thursday that Poland aims to have 56% of its electricity come from renewable sources by 2030. She was presenting the draft national energy and climate plans, which Warsaw must submit to the European Commission. The target is lower than the pre-election promise of the largest party in government, that Poland would have upto 70% of green energy in the mix by 2030 but higher than the 50% Poland declared back in February.
China releases guidelines on green energy trading
A notice posted on the website of China's state planner said that China had issued guidelines on medium- and long term green power trading. The notice called for a market based approach. According to the joint notice issued by National Development and Reform Commission and National Energy Administration, the rule lays down a pricing mechanism whereby the green power price will be determined based on the electricity price plus price of the green certificates.
Digitalization is Drawing CCS a New Learning Curve
Digital solutions are accelerating the progress required to ensure CCS earns its place in climate change mitigation history.Carbon capture has been around since the 90s, but the behavior of CO2 in pipelines is still not that well understood. A lack of suitable multiphase flow assurance models has meant that past CCS projects have had to apply large, costly safety margins to transport and injection systems.
Greek Quest to Save on Energy Bills Spurs Island-owned Renewables
Even with his 35-room beach-front hotel on the Greek island of Tilos close to fully booked, owner Michalis Kipraios worries his business might not "survive" sky-rocketing electricity bills, as the war in Ukraine drives up energy prices around the world.Tilos, 360 km (224 miles) southeast of Athens, is affected even though in 2019 it became one of the Mediterranean’s first islands to generate enough wind and solar power to meet most of its needs…
EU Unveils $220B Escape Route from Russian Fossil Fuels by 2027
The European Commission on Wednesday unveiled a 210 billion euro [about $220 billion] plan for Europe to end its reliance on Russian fossil fuels by 2027, and to use the pivot away from Moscow to quicken its transition to green energy.The invasion of Ukraine by Russia, Europe's top gas supplier, has prompted the European Union to rethink its energy policies amid sharpened concerns of supply shocks.
The Path to Zero: Amasus Shipping inks deal to power M/V EEMS Traveller with Wind
The M/V EEMS Traveller, owned and operated by the Dutch shipowner Amasus Shipping, will start harnessing the power of wind. The 91 meters length general cargo vessel will be retrofitted with two 17-metre-high eSAILs during a port call in 2022. A similar unit was installed by bound4blue in December 2021 on M/V La Naumon, being the largest suction sail ever built and installed on a ship.The suction sails are expected to reduce the 2…
India's Top Oil Refiner Plans 10,000 Electric Car Charging Stations
Indian Oil Corp (IOC) will set up 10,000 electric vehicle charging stations in the next three years and is drawing up plans to cut greenhouse gas emissions from its operations to aid the country's net-zero carbon target by 2070, its chairman said on Wednesday.Prime Minister Narendra Modi on Monday announced 2070 as the target for India to reach net zero, saying that by 2030 the share…
