Southeast Asia is expected to increase coal trade as China nears its peak
Industry officials predict that Southeast Asian countries like Vietnam and Philippines will boost coal consumption and trade in this decade even as China, the top consumer, is approaching its peak demand. In a speech at the Coaltrans Asia Conference, Priyadi, the Chairman of the Indonesian Coal Miners Association, said that the Association expects China and India's coal imports to reach a peak in 2025. This will end the growth in the global seaborne trade volume for the polluting fuel.
Occidental's 1PointFive receives funding up to $500 mln by US DOE
Occidental Petroleum’s carbon capture unit 1PointFive announced on Thursday that the U.S. Department of Energy’s Office of Clean Energy Demonstrations had committed up to 500 million dollars to support the development of the South Texas Direct Air Capture Hub (DAC). BlackRock, one of the largest asset managers in the world, had funded this facility previously. Occidental’s first large-scale DAC plant represents a pivotal trial in terms of economics for a technology…
Rural towns in New Mexico's arid region are looking to treated oil wastewater for a drought solution.
Stephen Aldridge, a pilot of a four-seater helicopter, could see a dozen lagoons filled with toxic waste glistening in the distance between drill rigs. The mayor of Jal, a tiny town nestled in the middle of U.S. Oil Country near the Texas border, saw the scene as a chance to find water for the state that is suffering from a worsening drought. Aldridge belongs to a growing number of New Mexico politicians that want to see the state develop regulations to allow the millions of gallons per day of produced water…
Financials drag Australia's shares down; US inflation data is in focus
Australian shares finished marginally lower on Tuesday, as losses among financial stocks outweighed gains by miners. Investors were cautious in advance of an important U.S. inflation report that could affect the Federal Reserve's next interest rate decision. The S&P/ASX 200 ended 0.4% lower, at 7978.7. The markets are weighing up whether the Fed will opt for a 25 basis point rate cut or a 50 basis point reduction during its policy meeting on September 17-18. Mathan Somasundaram is the CEO of DeepData Analytics.
Southeast Asia is expected to increase coal trade as China nears its peak
Industry officials predict that Southeast Asian countries like Vietnam and Philippines will boost coal consumption and trade in this decade even as China, the top coal consumer, is approaching its peak demand. In a speech at the Coaltrans Asia Conference, Priyadi, the Chairman of the Indonesian Coal Miners Association, said that the Association expects China and India's coal imports to reach a peak in 2025. This will end the growth in the global seaborne trade volume for the polluting fuel.
Taiwan's TCC receives Italian approval to take energy storage company NHOA private
TCC Group Holdings, a Taiwanese company, announced on Friday that it has received approval from the Italian government to privatize energy storage firm NHOA. The Italian government has "golden powers" to block or impose conditions on foreign and local takeovers as well as changes in governance affecting companies operating in strategic sectors like energy, telecoms, and banking. The company stated that the project is in the national strategic interest of NHOA and guarantees the implementation the industrial programs of TCC Group Holdings.
British Business – September 6
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. According to a new study, British pension funds have the lowest level of support for their own stock market among developed economies. This will fuel debates about reforming UK retirement pots in order to boost the London Stock Exchange. BMW plans to launch its first hydrogen powered vehicle in 2028 using the fuel cell technology it developed with Toyota Motor Corp.
Developments in Clean Hydrogen Production
The recent release of proposed regulations to the Clean Hydrogen Production Credit by the U.S. Department of the Treasury and IRS has stirred significant interest in the energy sector. These changes mark a pivotal moment in advancing towards a cleaner, more sustainable energy economy. Ongoing review and analysis will be crucial as stakeholders adapt to these regulations, reflecting the evolving landscape of clean hydrogen production…
BMW will bring its first Hydrogen car to the market in 2028
BMW plans to launch its first hydrogen powered vehicle in 2028 using the fuel cell technology it developed with Toyota Motor Corp. The company did not provide any further information. It said that the vehicle will be a model already in production with an option for hydrogen fuel cells. The company did not provide any details about the price or volume of production. BMW CEO Oliver Zipse stated in a press release that the vehicle will "highlight the way technological progress shapes the mobility of tomorrow".
China and South Africa agree on balanced trade, increased investments
A joint statement released on Tuesday revealed that China and South Africa's top leaders, who met in Beijing, had agreed to promote a balanced trade, and also discussed the importance of boosting bilateral investments between their commercial and industrial communities. President Xi Jinping met with his South African counterpart Cyril Ramaphosa on Monday ahead of the ninth Forum on China-Africa Cooperation. Both sides described Ramaphosa’s visit as "of great significance" for the development of bilateral relationships.
EU tightens hydrogen subsidy regulations after China concerns
After local industries expressed concerns about cheap Chinese imports and the EU's climate change policy head, said Monday, that the European Commission is working to tighten rules so that EU funding for projects involving hydrogen benefits European companies. This month, the EU will launch its second round of funding to support green hydrogen projects. Brussels is trying to jump-start an industry in order to produce this fuel locally.
EU tightens hydrogen subsidy regulations after China concerns
After local industries expressed concerns about cheap Chinese imports and the EU's climate change policy head, said Monday, that the European Commission is working to tighten rules so that EU funding for projects involving hydrogen benefits European companies. This month, the EU will launch its second round of funding to support green hydrogen projects. Brussels is trying to jump-start an industry in order to produce this fuel locally.
China Solar Group and regulator propose reforms in tendering to increase prices
The Chinese industry ministry and the solar sector association are proposing changes to power plant tendering in order to combat falling equipment prices which has led to manufacturers making losses. China's solar panels producers are calling for government intervention to boost prices that have been kept low due to overcapacity, even though China's trading partner have complained about overproduction's effects on their domestic industries.
Wall St Week- US stock rally expands as investors wait for Fed
Investors worried about technology stocks can take heart from the broadening rally of U.S. shares. The markets are awaiting key job data and Federal Reserve rate cuts expected in September. Investors are putting their money into less popular value stocks and smaller companies, as the fortunes of big tech stocks like Nvidia and Apple continue to rise and fall. They expect lower interest rates to help these stocks. At its meeting to discuss monetary policy on September 17-18, the Fed is expected start a cycle of rate cuts.
Two Republicans ask Pentagon to add Chinese Battery Maker CATL to restricted List
Two Republican senators on Wednesday requested that the U.S. Defense Department add Chinese battery manufacturer CATL to a list of restricted companies suspected to be working with Beijing's army. Experts say that companies added to this list are not eligible for U.S. government contracts, and they also face significant reputational risk. Senator Marco Rubio and Representative John Moolenaar of the House Select Committee on China asked Defense Secretary Lloyd Austin…
Meet ZEUS, a Proposed Zero-emission Power Station
Aker Solutions, PETRONAS Carigali Sdn. Bhd., MISC Bhd and Clean Energy System Inc, signed a Memorandum of Understanding (MOU), effectively commencing the Zero Emission Power Station (ZEUS) pilot project, an energy solution that uses oxyfuel combustion with immediate CO2 capture and storage.The ZEUS technology employs advanced oxyfuel combustion to convert high CO2 natural gas into dispatchable power while capturing 100% of the CO2 emissions.
Meet the CTO: Dr. Gunnar Stiesch, MAN Energy Solutions
As the shipowners stare down decarbonization mandates that grow increasingly strict through 2050, the engine makers are at the tip of the spear of this energy transition phenomena, working to design and build engines and components that are built to operate on a long and growing list of alternative fuels. We recently visited with Dr. Gunnar Stiesch, CTO, MAN Energy Solutions, to take a look inside the research and development process at this global power leader, for insights on ‘what’s next’ in ship propulsion.Dr.
Meta Platforms signs geothermal energy agreement with Sage Geosystems for US data centers
Meta Platforms, the owner of Facebook, announced on August 26 that it had struck a deal with Sage Geosystems for up to 150MW of geothermal energy to power its U.S. Data Centers. The company is racing to develop infrastructure to support massive investments in artificial intelligence, which consumes a lot of energy. According to the social media firm, the first phase of the project is expected to be operational in 2027. It will "significantly" increase the use of geothermal energy in the United States. Meta's announcement was made at a U.S.
US sanctions 400 additional targets for helping Russia's war efforts
The State Department announced that the United States imposed sanctions Friday on more than 400 individuals and entities for supporting Russia's military effort in Ukraine. This included Chinese firms, which U.S. officials believed were helping Moscow skirt Western sanctions while building up its military. Washington has warned Beijing repeatedly over its support of Russia's defence industrial base. It has also issued hundreds sanctions to limit Moscow's capability to exploit certain technologies in military applications.
Meyer Burger to halt solar plant in Colorado and plans restructuring
Meyer Burger, a Swiss solar panel manufacturer, announced on Monday that it had suspended plans for an upcoming plant in Colorado. The company said it would take restructuring measures to improve profitability and also suggested the profits might be lower than expected. The company said that its board had requested management to develop a "comprehensive cost-cutting and restructuring program", and board member Mark Kerekes would be stepping down.
