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Chemicals & Energy: Page 48

Three Organizations Agree to Build Hydrogen-Powered Tourism Ship

The 40-seat vessel, which is outfitted with a 350-kilowatt hydrogen fuel cell, qualifies as a research, development and demonstration (RD&D) project under South Korea’s national hydrogen strategy.

Photo: iStock.com/Scharfsinn86

South Africa to Face Pressure from Trade Partners to Ditch Coal

South Africa is trying to increase its supply of renewable energy to reduce greenhouse gas emissions and its reliance on Eskom Holdings SOC Ltd.

Mpumalanga, South Africa. Photo: Bloomberg

Saudis, Russia Extend Their Oil-Supply Curbs to Year-End

The leader of the Organization of Petroleum Exporting Countries will continue its production cutback of 1 million barrels a day until December 2023.

Ras Tanura, Saudi Arabia. Photo: Simon Dawson/Bloomberg

U.S. Offering $12B to Automakers and Suppliers for Advanced Vehicles

About $2 billion in grants for advanced vehicles will come from the Inflation Reduction Act while another $10 billion will be provided by the Energy Department’s Loans Program Office.

Photo: iStock.com/Fahroni

Spanish Food Industry Group Makes Plea for Water as Drought Threatens Crops

The government should develop new water interconnections and transfers between basins and invest in expanding and modernizing water storage as well as irrigation infrastructure, Fiab said in the statement.

Girona, Spain. Photo: Bloomberg

Hyundai and LG Planning to Spend an Additional $2B on Georgia Battery Plant

The two companies will spend a total of $7.59 billion on the plant and create 8,500 new jobs in Bryan County, Georgia.

Photo: iStock.com/PhonlamaiPhoto

Hope for Offshore Wind Boom in Gulf of Mexico Dims with Low Bids

RWE Offshore U.S. Gulf LLC won a 102,480-acre (41,472-hectare) tract near Lake Charles, Louisiana for $5.6 million after just two rounds of bidding.

Photo: iStock.com/vice_and_virtue

Indian PM Urges Critical Minerals Leaders to View Control as a “Global Responsibility”

Modi added that India could build an efficient and reliable supply chain in comparison to pre-COVID-19 supplies that “broke down” when the world needed them most.

Photo: iStock.com/Africanway

Trade Rep: China’s Rare Earths Dominance Can Lead to U.S. Vulnerability

U.S. Trade Representative Katherine Tai said that the U.S. is not where it wants to be in terms of supply chains and its reliance on China.

Photo: iStock.com/RHJ

Fossil Fuels Subsidized at a Rate of $13M Per Minute in 2022

The IMF found ending fossil fuel subsidies could cut global emissions outputs by 34% by 2030 when compared to levels seen in 2019.

Photo: iStock.com/Guven Polat

OPEC May Need to Cut Again as Fragile Members Recover, Citi Says

Iran, Iraq, Libya, Nigeria and Venezuela will add roughly 900,000 barrels a day of production this year and at least the same in 2024, the bank estimates.

El Tigre, Venezuela. Photo: Bloomberg

Russia’s Top Miner Plans to Move Some Trading to Dubai

Nornickel, the world’s biggest refined nickel producer and palladium miner, was incorporated under the name Greenwich Holdings Limited in Dubai.

Photo: iStock.com/Photon-Photos

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