Sweden's North frets about financial risks as the green boom stumbles
Sweden's local governments, frightened by Northvolt's struggle for survival and its potential impact on taxpayers, have asked the central government to increase financial support for Sweden's transition towards green industry. Last month, Europe's…
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.
ArcelorMittal delays planned green investments for EU
ArcelorMittal is the second largest steelmaker in the world. It announced on Friday that it was delaying green investments due to uncertainty over European Union regulations. ArcelorMittal received 850 million Euros ($885 million) from the French…
Major Salzgitter shareholder mulls takeover bid
Salzgitter announced on Monday that its second-largest shareholder GP Gunter Papenburg is considering a possible takeover of the German Steelmaker with a partner. The offer is only valid if TSR Recycling and the two-party consortium reach a minimum of 45% of Salzgitter plus one share.
US Energy Companies Fume over Rejected Steel Tariff Exemptions
The U.S. Commerce Department recently granted a tariff exemption to oil major Chevron for its imports of 4.5-inch Japanese steel tubes for oil exploration.But the department rejected a similar request from Borusan Mannesmann Pipe to exclude…
US Oil Pipeline Companies, Producers Seek Relief from Steel Tariffs
Major U.S. energy companies including Plains All American Pipeline, Hess Corp and Kinder Morgan Inc are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with exporters including China, Canada and Mexico.There have been nearly 21…
ArcelorMittal Invests $47 mln to Overhaul Bosnia Plant, Curb Pollution
ArcelorMittal, the world's largest steelmaker, said on Friday it was investing 75 million Bosnian marka ($47 million) to overhaul a blast furnace at its steel plant in Bosnia to extend its lifespan and improve environmental standards. Environmentalists…
Swedish Steel Plant to Run on Hydrogen
Steelmaker SSAB plans to build the world's first fossil fuel-free steel plant powered by hydrogen, backed by utility Vattenfall and miner Luossavaara Kiirunavaara, the Swedish firms said on Thursday. The pilot venture will aim to develop technology to later make SSAB's entire production fossil-free…
Japan Steelmakers Scramble for Coking Coal
Japanese steelmakers have bought coking coal from the United States, Canada and China to replace supply lost after a cyclone closed rail links in Australia, their biggest supplier, industry and trader sources said. Still, the Japanese buyers…
Aurizon Coal Loss to Feed Coal Prices
Aurizon cuts profit guidance after cyclone. Australian coal railway line operator Aurizon Holdings Ltd on Tuesday unveiled a bigger-than-expected estimate for lost coal haulage from Cyclone Debbie, which analysts said will help underpin coal prices in coming weeks.
Australia in Talks With Gas Majors to Avert Local Shortage
Australian PM in crisis talks with gas majors; Australia faces gas shortage despite exports soaring. Australia's top gas producers, led by ExxonMobil Corp and Royal Dutch Shell, agreed to boost supply to the country's domestic market to help…
Siemens, Voest and Verbund to Build Largest Green Hydrogen Site
Siemens, steel maker Voestalpine and hydropower firm Verbund are planning to build a cutting-edge plant to make green hydrogen more suitable for industrial use, the companies said on Tuesday. Utilities and industrial firms are under increasing…
Nippon Steel, Sumitomo renew contract to supply line pipes to BP
Japan's biggest steelmaker Nippon Steel & Sumitomo Metal Corp and trading firm Sumitomo Corp have renewed their contract with Britain's BP to supply line pipes. The new contract is effective for five years from July 1, with an option to extend the contract for another five years…
Brazil Prosecutors Investigate Two Petrobras Pipe Suppliers
Brazilian police and prosecutors said they are investigating pipe suppliers Apolo Tubulars and Confab in the latest phase of a sweeping investigation of contracts with state-run oil company Petroleo Brasileiro SA, or Petrobras. Prosecutor Roberson Pozzobon said Jose Dirceu…
3 firms get Steel pipe Nord Stream 2 contract
The consortium of companies planning to build the Nord Stream 2 sub-sea pipeline to bring Russian gas to Europe said on Friday it has awarded steel pipe delivery contracts for 2,500 km (1,550 miles) to three firms, completing a tender. The steel…
Gerdau, Sumitomo, JSW Form Wind Power JV
Brazilian steelmaker Gerdau SA will form a joint venture with Japan's Sumitomo Corp and Japan Steel Works Ltd (JSW) to compete in the wind power sector in Brazil, Gerdau said on Wednesday. With 280 million reais ($70 million) in investment for new equipment…
OMV Poaches Outokumpu Finance Chief
Austrian oil and gas company OMV named Reinhard Florey, chief financial officer of Finnish stainless steel maker Outokumpu, as its new finance chief. Florey, 50, will replace long-serving CFO David Davies, who will step down a month after Florey starts the job…
Britain Scraps 'Green' Costs for Energy-intensive Industry
Britain will permanently exclude energy-intensive industries such as steel and chemicals from extra costs to support green energy projects, finance minister George Osborne said on Wednesday. Steelmakers in particular have been hit by heavy energy…
Egypt's Power Choices Appease Public, Squeeze Industry
Far fewer Egyptians are complaining about the kind of power cuts that fuelled unrest in the past but government energy policies apparently focused on appeasing the public are dealing a blow to industries vital for economic growth. Companies…
Salzgitter: South Stream Supply Suspension Lifted
German steelmaker Salzgitter said the suspension of its agreement to supply pipes for Gazprom's South Stream gas pipeline project had been lifted. Gazprom abandoned South Stream in December under pressure from the European Union and is now…
