Executives say oil refiners are adding renewable feedstocks to produce cleaner fuels.
To meet the global demand for cleaner fuels, oil refiners are increasing efforts to blend in renewable feedstocks like used cooking oils into their crude refining streams. Maurits Van Tol, Chief Executive of Johnson Matthey, a provider of catalyst technologies, stated that the demand for additives and catalysts to remove impurities from feedstocks has increased. He said that in recent years, refineries have been blending some components into biomass feedstocks. Van Tol added that the demand for additives and catalysts has also been boosted by the use of heavy crude oil…
British Business – February 11,
These are the most popular stories in the British business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. The UK government extended subsidies to Drax Biomass Power Station worth up to two billion pounds (2,47 billion dollars) over a period of four years. Patrick Thomas, the chairman of Johnson Matthey will step down from his position in July, amid criticisms by its largest shareholder over its performance and strategy. Steelmakers in the UK warn that new U.S. 25% tariffs on imports of steel and aluminum will severely harm the industry and threaten employment.
Johnson Matthey will review executive compensation and cut spending in hydrogen technologies
Johnson Matthey, a British autocatalyst manufacturer, announced on Monday that it would reduce its capital expenditures in its Hydrogen Technologies business and review the executive pay to increase its cash flow. This was in response to pressure from its largest investor. In late 2018, the company, which produces catalytic convertors and pollution filters, failed to meet analysts' expectations in terms of first-half revenue. It also missed on underlying profit due to a drop in global vehicle production, and a low trading volume for Platinum Group Metals.
Hybrid vehicles give lifeline to Platinum Metals
In the next few years, a surge in hybrid car sales as the electric vehicle market slows will likely lead to an unexpected increase in demand for platinum group materials (PGMs), similar to what is predicted for coal's extended life. PGMs – primarily platinum and palladium – face a long-term decline in demand, as their primary use was to clean auto exhausts – a process not required in pure EVs. Few years ago, prospects for producers of PGMs such as Anglo Platinum Impala Platinum Sibanye Stillwater seemed grim, as electric vehicle sales were surging and the demand drop was expected to occur quickly.
Thompson takes over from Founder Heavey, Tullow Oil
Tullow Oil plc (Tullow) announced the appointment of Dorothy Thompson as independent non-executive Director and Chair-designate of Tullow with effect from the conclusion of the Group’s Annual General Meeting (AGM) on 25 April 2018. It is anticipated Thompson will succeed Aidan Heavey, Tullow’s current Chairman and Founder, as Chair at the conclusion of the Board meeting scheduled for 20 July 2018. Aidan will retire from the Board at the same time. Thompson (57) brings extensive experience to Tullow having served for 12 years as CEO of Drax Group plc, the international power and energy trading company, until the end of 2017.
Germany Wants Aid for Emission-Cutting Projects in Poor Countries
Germany is advancing plans for rich countries to encourage the developing world to cut greenhouse gas emissions by subsidising projects, replacing the funding after a United Nations programme has run out of cash. Such a move could yield cuts of around 5 percent of the gap between current government pledges and the amount needed by 2020 to prevent climate change that would lead to rising seas, droughts and flooding. It also could throw a lifeline to owners of those projects that would destroy particularly potent…
