Nigeria’s Refining Revolution is Reshaping West Africa’s Energy Landscape
The launch of the Dangote Refinery near the Port of Lagos presents an exciting opportunity to transform the energy and shipping markets in West Africa. And it stands to boost Nigeria’s role as an influential player in the global oil industry, fostering economic growth and regional development.Nigeria’s standing in the global energy landscape is getting a boost with domestic refining capacity expanding in 2025. The Dangote Refinery…
China expands carbon trading market for steel, cement and aluminum
The environment ministry announced plans to expand the carbon trading market in China to include the steel, aluminum, and cement industries. This will require 1,500 additional firms to buy credits to cover their emission, it said. At a press briefing, Pei Xiaofei, a spokesman for the Ministry of Environment, said that the expansion would bring the total volume covered by the scheme of climate-warming CO2 to 8 billion metric tonnes, which is more than 60% the total emissions of China.
Indonesia will offer carbon credits to foreign buyers in the near future
The carbon exchange in Indonesia announced that Indonesia will begin offering carbon credits to international buyers as early as next week. This is to raise money to support efforts to reach its carbon neutrality goal. Indonesia, an archipelago that has the third largest rainforest in the world, is one of the top 10 emitters of greenhouse gases. The exchange announced that the first sale of certificates of carbon credits for international buyers would be made on Monday, January 20.
Meet the World's First Digital Smart Ship, the Japanese Built LNG-Fueled PCTC Sakura Leader
The run up to 2050 and dramatic reductions in emissions from ships will, by most expert’s thinking, be an evolution of small steps premised on melding new fuels and digitalization technologies. The recent delivery of the LNG-fueled PCTC Sakura Leader to NYK can be considered a sizable leap in this regard, as the ship has been designated as the world’s first digital smart ship.A Big Step Toward CO2 Reduction TargetsOn October 28…
MOL Announces Three Initiatives on Global Warming
Japanese shipping giant Mitsui O.S.K. Lines (MOL) has announced its support for three initiatives to address the issue of global warming. The initiatives include supporting, and active participation in the task force on climate-related financial disclosures, Japan climate initiative, ministry of environment "COOL CHOICE" national movement.The MOL Group established the "MOL Group Environmental Vision 2030" as the group's environmental management policy under the "MOL Group Environmental Policy Statement"…
India on Alert After Oil Spill in Sundarbans
Authorities on India's eastern coast are on alert after a tanker and another vessel collided, spilling more than 350,000 litres of furnace oil into the waters of the Sundarban tidal mangrove forests in neighbouring Bangladesh. "We are taking all precautionary measures," Pradeep Vyas, additional director of India's Sundarban Biosphere Reserve, told Reuters on Friday. The Indian Coast Guard and Border Security Force are both monitoring the situation…
South Korea: Carbon Market is a 'Go'
South Korea decided on Thursday that its carbon trading market will go ahead as planned on Jan. 1 of next year, despite the finance minister's calls last month for it to be delayed. South Korea's scheme - the government's key policy to meet its targets of cutting greenhouse gas emissions in 2020 to 30 percent below business-as-usual levels - will be the world's second biggest carbon market when it launches. As proposed, the scheme…
Jindal Hopes to Resolve Iron, Coal Shortages Soon
India's Jindal Steel and Power Ltd hopes to resolve raw material shortages that have hurt production at its steel plants in the "next couple of weeks", Chief Executive Ravi Uppal said on Wednesday. The steel major is facing iron ore shortages after a Supreme Court order in May forced the closure of nearly half the mines in top producing state Odisha, where the company mines and sources iron ore. Its main suppliers of iron ore have received approval from an expert committee…
Japan, Mexico Sign Carbon Trade Deal
Japan and Mexico have signed a deal for Japanese companies to earn carbon credits by investing in technology to cut greenhouse gas emissions in Mexico - in Japan's 12th bilateral carbon agreement. The program, known as the Joint Crediting Mechanism (JCM), lets companies in Japan, the world's fifth-biggest greenhouse gas emitter, use lower-cost emission cuts abroad to help meet domestic targets. "The objective ... is to establish the basis through which the participants will promote the investment and the use of technologies…
Japan, Mexico Sign Carbon Trade Deal
Japan and Mexico have signed a deal for Japanese companies to earn carbon credits by investing in technology to cut greenhouse gas emissions in Mexico - in Japan's 12th bilateral carbon agreement. The program known as the Joint Crediting Mechanism (JCM), lets companies in Japan, the world's fifth-biggest greenhouse gas emitter, use lower-cost emission cuts abroad to help meet domestic targets. "The objective ... is to establish the basis through which the participants will promote the investment and the use of technologies…
Turkey Approves EIA Report for South Stream’s Offshore Section
The Ministry of Environment and Urban Planning of Turkey approved the Environmental Impact Assessment (EIA) Report and issued a positive opinion of the EIA results for South Stream's offshore section in Turkey. The Report contains the assessment of potential environmental impacts caused by the gas pipeline construction, including the impact on the seabed geology, water quality and marine ecology. The document concludes that the project will have no considerable effect on the Black Sea environment or the regional fishing industry.
Petronet achieves highest turnover at Rs 37,748 crores
Petronet LNG Ltd, the nation's biggest importer of gas, reported yesterday its highest turnover at Rs 37,748 crores for the year ended March 31, 2014 and net profit at Rs 712 crores. During the year the Dahej terminal processed 489 TBTUs depicting a capacity utilisation of 96%. Kochi terminal was commissioned during the year and processed only 4.50 TBTUs of LNG serving two consumers in the vicinity of the terminal – the BPCL refinery and FACT. natural gas demand in the Country.
