About 85 vessels can be purchased within the state subsidies for providing the fleet for foreign trade operations. The specified number of vessels will include bulk carriers…
Month: April 2024
Wind and Solar Growth in China Not Enough to Offset Coal Expansion
In 2023, China’s economy expanded by 5.3%. This would have been an impressive number worth celebrating for any other country. For China, however, the number was widely seen as a disappointment—even though…
The $387 Billion Coal Replacement that is Nuclear
Replacing coal-fired power stations with small modular nuclear reactors, would cost taxpayers $387 billion, implying the option would not get backing from the industry, suggested Chris Bowen, the Climate Change Minister. More…
Russian coal exports to drop by 20% due to sanctions
Russian coal exports to drop by 20% following a sanctions announcement by the United States. On February 23, the United States extended sanctions against the Russian energy and mining and metallurgical sectors…
Oil Traders Bet on Market Despite Flat Crude Prices, Red Sea Attacks
Traders are still investing in oil by-products despite the price cap in oil markets. Bloomberg data released on Tuesday 6th of February, showed that the open interest…
Bankrupt Oil Trader and Owner Sue the UAE and Others in Fraud Claim
The UAE, its president, oil firm ADNOC, a Swiss-based private investigation firm and others are being sued for $2.8 billion from bankrupt oil firm Lord Energy and its owner, Hazim Nada. The…
Powell: The US is on an unsustainable fiscal path
Federal Reserve Chair Jerome Powell said “the U.S. is on an unsustainable fiscal path” in a “60 Minutes” interview with Scott Pelley released Sunday. “The U.S. federal government’s on an unsustainable fiscal…
India Aims To Reduce Coal Imports Dependency By 2025
Union Minister of Coal, Mines, and Parliamentary Affairs, Pralhad Joshi has stated that India’s coal import for the power sector is projected to reduce to 2% by 2025, attributing the decrease to…
China’s Renewable Energy Drive Hampered by Rising Coal Production
China is far outpacing the rest of the world in terms of new clean energy capacity additions, but it’s powering all that expansion with the dirtiest fossil fuel. As China’s clean energy…
India’s coal imports are shifting, thermal more than coking
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring Ukraine. India, the world’s second-biggest coal importer behind China, has long…