US Senators ask Energy Secretary to comply with law regarding clean energy grants and loans
U.S. Democratic Senators on Wednesday called for Energy Secretary Chris Wright's department to comply with laws that mandate his funding of clean energy projects, which were included in laws passed prior to Donald Trump becoming president. This includes four hydrogen hubs. Wright's Department is considering funding cuts for four of seven hubs that are part of a $7 billion project to decarbonize America's economy. The program is a part of Joe Biden's efforts to do so. The hubs aim to boost the production of clean hydrogen and infrastructure required to deliver it to steelmakers and cement plants…
India increases gas prices starting April
India's government website revealed on Monday that the price for its locally produced oil field gas has increased by almost 4%, to $6.75/million metric British Thermal Units (mmBtu), compared to $6.50/mmBtu the previous month. This is the first price revision for gas produced in old fields in two years. India set a price cap of $6.50 for two years in 2023. The third year will see a 25-cent increase per annum. The website of the Petroleum Planning and Analysis Cell, part of the Ministry of Oil…
Government data shows that Britain's greenhouse gases emissions decreased by 4% between 2024 and 2025.
The government released preliminary data on Thursday showing that Britain's greenhouse gases (GHGs) will fall by 4% between 2024 and 2025. This is due to the closing of the last coal-fired plant in the country, and the reduction in emissions from the industrial sector. Britain's goal is to achieve net zero emissions in 2050. This will require an increase in renewable energy and the switch to cleaner electric cars. The Department for Energy Security and Net Zero, or DESNZ, said that total greenhouse gas emissions are estimated to be 371 million metric tonnes of carbon dioxide equivalent by 2024.
Australia pours billions into missile procurement amidst global shortages
Australia's plans for developing its own missile component capability will likely be slowed by the Ukraine war and increased European defense spending, even though it is pushing ahead with a multi-billion dollar effort to purchase long-range attack missiles. Last year, Prime Minister Anthony Albanese committed A$74 billion (46.68 billion dollars) for missile acquisition. This included A$21 billion towards the establishment of a Guided Weapons and Explosive Ordnance Enterprise. His Labor government had reshaped Australia's defence policy to counter China's military buildup.
The prize is worth billions of dollars, but winning it is the key: Russell
Decarbonising steel is one of the biggest challenges to meeting climate goals. However, it could be extremely profitable for those companies and governments willing to take on the risk. Steel value chain is responsible for 7 to 9% global carbon emissions. It is the biggest industrial contributor, and therefore a primary target for many countries' and companies' goals for net-zero in 2050. About 80% of the steel emissions are caused by one single process. This is the removal of oxygen and other impurities from iron ore to produce pig iron, or crude iron. The process now requires vast amounts of coal.
US considers cutting funding to four of seven hydrogen hubs
According to a source familiar with the issue, the U.S. Department of Energy has considered cutting funding to four of seven hubs for hydrogen that were chosen under a $7-billion federal program. The hubs are part of the effort by former President Joe Biden to decarbonize U.S. economics. They aim to boost the production of clean hydrogen and the infrastructure required to deliver it to industrial users such as steelmakers and Cement plants. Since Trump's inauguration in January, the federal government has provided funding for clean energy projects.
Bosch plans to generate billions of dollars in revenue from hydrogen by starting production of electrolyser components
Bosch announced on Wednesday that it will start producing electrolyser parts for hydrogen production and expects its hydrogen business revenue to reach billions of Euros by 2030. Germany is looking to increase its reliance on hydrogen for future energy sources to reduce greenhouse gas emissions from highly polluting industries that can't be electrified, such as steel or chemicals. It also wants to reduce the dependency on fossil fuel imports. Hydrogen is made by electrolysers that use energy to split water into hydrogen.
Vietnam announces that it will reduce tariffs on a number of U.S. goods
The head of the Finance Ministry’s tax policy division said that Vietnam would reduce its tariffs on a number of U.S. goods, including cars and LNG, in order to avoid being charged U.S. duties due to its large bilateral surplus. Nguyen Qoc Hung, in a late Tuesday statement on the ministry website, said that the tariffs on American LNG would be reduced to 2%, from 5%. The same goes for automobiles, which will drop to 32%, from a range between 45% and 64%. And ethanol, from 10% to 5%. Hung stated that the tariff reductions are intended to "improve trade balances (with Vietnam's) trade partners…
Galp, a Portuguese company, is confident that it will find other markets in the event of US tariffs.
The Portuguese oil company Galp Energia is confident that it can find other destinations for its gasoline exports. Galp's Executive Board member Ronald Doesburg who is responsible for industrial assets said on Tuesday that the company will be able deal with a drop in demand from Americans due to higher prices resulting from proposed tariffs of 25%. Galp's Sines refinery produces approximately 2 million metric tonnes of gasoline each year. Of this, between 1.2 and 1.5 million tons is exported to the United States. The Portuguese market takes the remainder.
South Korea hosts Alaska Governor, energy team amid talks of gas pipeline
Alaskan state officials, including the governor, and energy officials will visit South Korea Tuesday amid expectations that talks with U.S. ally countries in Asia can revive a natural gas project that has been stalled. The main U.S. Business lobby in Seoul announced that the delegation of Governor Mike Dunleavy will include representatives from the Glanfarne Group, which is a partner on the project to transport natural gas from Alaska's remote northern region via a $44-billion pipeline, and the state agency for gas.
Laos signs clean energy agreement worth $1.45 billion with Chinese industrial company
Laos signed a clean energy agreement worth $1.45 billion with a Chinese manufacturer of power plant equipment as it continues its drive to generate and transmit clean electricity. China Western Power Industrial and a Singaporean construction company signed an agreement with Xekong Thermal Power Plant, Laos. The project will design, supply and build a 1,800 megawatt clean energy power plant in southern Laos. This was revealed in a filing on the Sichuan stock exchange by the Sichuan based company.
Siemens CFO: Political uncertainties are affecting customer decisions
Ralf Thomas, chief financial officer at Siemens, said that customers are hesitant to buy Siemens products due to the political uncertainty. However, he doesn't expect this situation to continue. Thomas stated that companies are delaying investment decisions because they are worried about tariffs, and whether ESG (environmental, social, and governance) risks will still be important after President Donald Trump's attacks. He added: "We are seeing this in many places at the moment. Thomas added that Siemens still believed the long-term demand was "ok" for its products…
Investor leading climate talks with Equinor says it's time to sell out
One of the asset management companies that is co-leading the climate talks with Equinor, on behalf of over 600 investors, has said that it sold its shares because the board of the oil giant failed to align their strategy with the global goal of limiting the effects of global warming. Sarasin & Partners, a British firm, helped to lead discussions with Equinor as part of Climate Action 100+, whose members encourage the largest listed corporations in the world to reduce their emissions. In a letter dated March 14…
Vietnam's PM announces that Vietnam will review duties on US LNG and high-tech products
A report on the website of the government said that Prime Minister Pham Minh Chinh had told the U.S. Ambassador to Vietnam that Vietnam was reviewing its duties against U.S. products. This includes liquefied gas, agricultural and high-tech goods. Southeast Asia's industrial hub, which relies heavily on exports to America and enjoys a large surplus in trade with Washington, is scrambling for ways to avoid the reciprocal tariffs the Trump administration has threatened to impose globally to reduce America’s trade deficit.
Nigeria launches $500 Million Fund for Solar Energy
Nigeria launched a $500-million fund on Thursday to attract private investment in order to increase solar energy and supplement the country's aging power grid. At the Sustainable Energy for All Global Forum held in Barbados, it was announced that DRE Nigeria Fund - which stands for Distributed Renewable Energy or electricity generated from renewable sources - would be launched. The goal is to attract local currency funding by Nigerian pension funds and insurance companies. Sustainable Energy for All (affiliated with the UN)…
EIB examines financing for $760 million hydro project in DRC
A spokesperson for the European Investment Bank said that the bank is delaying decisions on financing the Ruzizi III hydroelectric plant, worth $760 million, in Central Africa due to the fighting between Rwandan-backed and Democratic Republic of Congo rebels. After the January blitzkrieg of Congolese rebels, which saw them take over the strategic cities Goma and Bukavu and was condemned by African leaders as well as Western countries, Europe is increasing pressure on its adversaries. The cities captured are located near Rwanda and Burundi which are also involved in the project.
Vopak will invest an additional 1 billion Euros in industrial and gas terminals before 2030
Vopak, the Dutch tank storage company, doubled its investment goal for expanding its industrial and gas footprint. The company has committed another 1 billion euro ($1.1 billion) to it until 2030. Vopak, a company that provides storage and handling to end markets in the energy and manufacturing industries, stated that its growth strategy is supported by positive market outlooks and demand for infrastructure. Vopak said that it had achieved its goal of increasing its industrial and gas footprint by investing 1 billion euros by 2030. This was ahead of schedule.
EU seeking feedback on looser rules for state aid to encourage clean tech projects
The European Union's state aid regulators want to hear from its member countries about new rules that will allow governments to provide grants and other financial incentives to businesses and clean technology projects to reduce carbon footprint. These rules are intended to help EU businesses compete better with their U.S. or Chinese competitors. They will be implemented in June and valid until 2030. These rules are part of an energy-hungry industry package announced last month. These guidelines will make it easier for private investors, pension funds and insurers to invest in green projects.
Russell: China's commodity imports will continue to decline until 2025 due to economic and trade concerns
China's imports have been weak in 2025. This is in line with the recent trend of a softer economy. According to data released by the official customs on Friday, imports of crude, natural gas and iron ore, as well as copper, have all decreased in the first half of this year when compared to the same period of last year. The January-February period saw a rise in coal imports compared with the same period of 2024. However, the figures were significantly lower than in November and Decemeber, indicating that China's appetite is decreasing for the fuel.
Australian shares gain modestly as commodities support
Australian shares rose on Monday and hovered below the important 8,000-level as commodities fueled a slight recovery in the benchmark index after a selloff in the previous session amid market uncertainty. As of 2341 GMT, the S&P/ASX 200 was up 0.2% to 7963.8. The benchmark index fell 1.8% on Friday to close below 8,000 for the first six-month period, amid uncertainty about global trade. Energy stocks gained nearly 1% in tandem with a recovery of crude oil prices after U.S. president Donald Trump warned about sanctions against Russia…
