Andy Home, recycling pioneer, races to close rare earths scrap gaps
This question is more urgent now than ever after China restricted its exports in the first half of this year. The move sent shockwaves throughout Western manufacturing chains. The race to create domestic mine-to magnet supply chains is accelerating, especially in the United States. Here, the Department of Defense has taken a direct stake, MP Materials, the operator of the only rare earths mining facility in the country, and guaranteed a minimum price for the products. Old laptops, powertools and smartphones are all part of the solution. It's amazing that less than 1 percent of rare earths are recycled, given the importance of these materials in high-tech products today.
Andy Home, recycling pioneers racing to close rare earths scrap gaps
This question is more urgent now than ever after China restricted its exports in the first half of this year. The move sent shockwaves throughout Western manufacturing chains. The race to create domestic mine-to magnet supply chains is accelerating, especially in the United States. Here, the Department of Defense has taken a direct stake, MP Materials, the operator of the only rare earths mining facility in the country, and guaranteed a minimum price for the products. Old laptops, powertools and smartphones are all part of the solution. It's amazing that less than 1 percent of rare earths are recycled, given the importance of these materials in high-tech products today.
Taiwan's offshore projects will move into deeper waters and require more state support
Industry officials and analysts say that Taiwan's attempt to boost its offshore wind market will require a huge amount of government support to help prospective suppliers achieve their capacity goals, as projects are moved to deeper, more technically challenging waters. The island's densely-populated population, which was long dependent on coal power, has quadrupled the wind power capacity from 1 gigawatt to 4 GW, up from less than 1 before the COVID-19 epidemic. It aims to have 60% of its power derived from renewable sources by 2050. Energy administration has said that it is still collecting feedback about the bidding process.
Why E20 fuel has caused angst on the Indian auto market
The launch of E20 by the Indian government under Prime Minister Narendra Modi has created confusion and panic in the third largest auto market. How was E20 implemented? How does it help? E20 is petrol blended 20% with ethanol. This alcohol is primarily produced from sugarcane, maize and other grains. The fuel was first introduced in April 2023 at a handful of pumps and is now available across India. It replaces the 10% ethanol, known as E10, which most cars were designed to run on. Recent weeks have seen older fuel blends such as E10 and E5 disappear, leaving the consumer with no other choice than to purchase E20.
White House review of waiver plan for biofuel pits refiners against farmers
The White House is reviewing an important rule that could change the balance between oil refiners, farmers and the Renewable Fuel Standard. It will determine how to redistribute large volumes of biofuel blend obligations that have been recently exempted. The result, which is expected in the next few weeks, will determine what happens to billions of gallons U.S. demand for ethanol and biodiesel. This demand is vital for farmers who provide the corn and soy beans to produce biofuels but expensive to oil refiners who ensure that the biofuels mix into the nation's gasoline supplies.
Wood Group accepts Sidara’s takeover bid following a year-long pursuit
The Wood Group in Britain has accepted a conditional bid of 216 million pounds ($292 millions) from Dubai's Sidara. This ends a long-running pursuit involving multiple offers and rejections. Sidara's 30-pence per share offer will see it assume Wood Group's $1.6 billion debt and inject $450 millions of cash in the company. Wood Group must publish its delayed results, and ensure that certain debt facilities will not be terminated. A British oilfield service firm delayed publishing its annual results in April due to an audit that was pending, resulting in a temporary suspension.
Trump's options for easing Russia sanctions are limited in comparison to Europe
Donald Trump, the U.S. president, could lift some sanctions against Russia quickly as a way to reward Moscow for successful peace talks with Ukraine. However only Europe can make the larger steps necessary to ease Russia's cash crisis. Trump has threatened to impose additional sanctions and tariffs against Russia and its oil buyers if there are no signs of progress in the three-and-a-half-year long war in Ukraine. If the talks are successful, Trump could start to ease some of his punitive measures. Trump has a number of options, including releasing Russian assets, reopening U.S. loans to Russian corporations and banks, and allowing U.S.
Vietnam will switch to fuel blended with ethanol to increase U.S. exports
Vietnam plans to switch to ethanol-blended fuel from next year. This will allow the Southeast Asian nation to import corn and ethanol from the United States. According to documents reviewed by the ministry, the Ministry of Industry and Trade submitted a proposal for the government to switch from RON95 and RON92 unleaded gasoline standards to E10 -- a blend of gasoline and up to 10% bioethanol. The current unleaded gasoline standard is RON92 and RON95. According to a document, the switch will allow the importation of American corn and ethanol to Vietnam, as the Southeast Asian nation seeks to reduce its trade deficit with the United States, which is its largest export market.
AI revolution to transform Europe's outdated power plants
Microsoft and Amazon are looking to convert some of Europe's old coal and gas-fired power plants into data centres with ready access to electricity and water. Engie in France, RWE in Germany, and Enel in Italy are all looking to capitalize on the surge of AI-driven energy demands by converting their old power plants into data centres, and securing lucrative power supply agreements with their operators. The data center option is a great way for utilities to offset the high costs associated with shutting down old power plants and potentially fund future renewable development.
UN urges Australia and Turkey to resolve host dispute for COP31
On Monday, the UN climate chief urged Australia to settle its long-running dispute with Turkey over hosting next year's COP31 Summit. He called the delay unhelpful. Both Australia and Turkey have submitted bids for the highly-publicized conference in 2022, but neither has conceded to the other since. Simon Stiell said that the deadlock undermined preparations. He is the executive secretary of UN Framework Convention on Climate Change which oversees COP Summits. He said that a decision must be taken very quickly at an event of the Smart Energy Council in Sydney. The two proponents must come together, both within and outside the group.
Venezuelan oil company PDVSA is ready to resume work on previous US terms
Sources at the company said that Venezuela's PDVSA, the state-run oil firm, is preparing to resume its work in its joint ventures with terms similar to those of Biden's licenses once U.S. president Donald Trump reinstates authorizations to its partners for them to export and operate oil under swaps. Washington is preparing to grant new operating authorizations to key PDVSA partners. The first of these will be Chevron. These permits will likely mark a shift in Washington's policy from the pressure campaign it adopted earlier this year, which led to the cancellation of oil licenses by March. The authorizations may not be publicized this time.
Diplomats claim that the EU has again failed to approve new sanctions against Russia
Four EU diplomats said that the European Union had failed to approve new sanctions against Russia for the second time on Wednesday, as Slovakia sought concessions regarding gas supplies. Diplomats who were present at the meeting said that Slovakia had vetoed approval of the sanction during the meeting. Malta was also mentioned by two diplomats. The Slovakian government said that it would not approve sanctions until it received more assurances from the EU about the safety of the country in the event of a separate plan to phase-out Russian gas by 2027. These phase-out plans must be approved by an EU majority, which means that Slovakia cannot block them.
Europe looks to Nordic Space Race to reduce US dependence
Two small spaceports located in the far north of Sweden, Norway and Finland are rushing to launch the very first satellites launched from Europe. The region is looking to reduce its dependence on U.S. companies. The "America First" policies of U.S. president Donald Trump and the conflict in Ukraine has prompted Europe's independent capabilities to be boosted in many areas, including defence operations and space operations. Europe is scrambling to find alternative solutions amid fears that Elon Musk, Trump's former ally, could restrict Ukraine's ability to access SpaceX's Starlink satellites which are crucial for the country's communication.
Denmark warns EU not to stop green transition
The climate minister of Denmark said that European nations must not stop the green transition on the continent. His country is preparing to lead EU negotations over a new climate goal amid backlash from governments worried about its costs. Next week, the European Commission will propose a new climate target for 2040 that will reduce EU emissions by 90 percent compared to 1990 levels. However, countries such as Poland and France are concerned that this goal is too ambitious. Lars Aagaard is the energy and climate minister of Denmark. He said that in an interview…
Thermal Coal May Offer An Affordable Solution As LNG Prices Rise
Thermal coal may end up as a major beneficiary of escalating hostilities in the Middle East, as the fuel used to generate electricity becomes cheaper than one of its main competitors liquefied natural gas (LNG).Much of the focus of the potential fallout from the conflict between Israel, and now the United States, and Iran is the threat to crude oil and refined fuels shipped through the Strait of Hormuz.But all of Qatar's LNG also goes through the narrow waterway separating the gulfs of Persia and Oman, and this amounts to almost 20% of the global seaborne supply of the super-chilled fuel.While there has yet to be any disruption of Qatar's LNG…
Israel resumes limited gas exports despite ongoing conflict; Egypt still waiting
Israel resumed exports of natural gas from its surplus, according to the Energy Ministry on Thursday. This comes nearly a full week after Israel and Iran engaged in an aerial battle. According to a source in the energy ministry, most of the gas exported is flowing into Jordan and "tiny quantities" have reached Egypt only this week. Egyptian fertilizer producers who had to stop operations because of the disruption in gas supply have said they still haven't received any gas, but are expecting it to return next week. The Egyptian Petroleum Ministry didn't immediately respond to an inquiry for comment.
Fico: Slovakia can't support new EU sanctions on Russia without energy solutions
Robert Fico, Slovakia's Prime Minister, said that the country will not support the EU's 18th sanctions package against Russia until the European Commission offers a solution for the problems the country would face if the bloc were to phase out Russian energy according to plan. The Commission proposed a new set of sanctions on Tuesday against Russia, for its invasion of Ukraine over three years ago. These targeted Moscow's banks, energy revenues and military industry. Fico called the EU executive's plans, announced last month by the EU executive, to phase out Russian energy and gas imports over the next few years "economic suicide".
Japan's Gas Industry Allows Gas with Carbon Capture in 2050 Net Zero Plan
The Japan Gas Association announced on Tuesday that it will take a more flexible stance in its efforts to become carbon neutral in 2050. This includes allowing a greater use of gas, in conjunction with carbon capture and other decarbonisation methods. The industry group stated that it aimed to supply 50-90% by 2050 of its gas from biogas or e-methane, with 10-50% coming from natural gas and carbon capture. The group, including city gas suppliers had originally set an initial target of 90% e-methane produced from green hydrogen, CO2, and 5% biogas by 2050.
Experts say that Australia's investment in natural gas threatens its climate credentials
Experts and two Pacific Climate Ministers say that Australia's approval for a 40-year project extension has undermined its bid to be the host of a United Nations Climate Summit next year, and its green credentials. The centre-left government that came to power in 2022, with a mandate to reform climate policy, has approved Woodside Energy’s North West Shelf Project to continue until 2070. This is subject to a review. The company and energy industry hailed the move, citing the continued operation of LNG plants as an alternative fuel to coal. Climate scientists and ministers of Tuvalu and Vanuatu have criticised the project…
Freepoint Commodities sued by ex-analyst for alleged pressure to facilitate insider trade
Former senior analyst of U.S. trading firm Freepoint Commodities, a former senior analyst has filed a lawsuit against the company. He claims that top executives pressed employees to facilitate insider trades and that they retaliated on employees who objected. Former employee Andrew Martin filed a lawsuit in New York Federal Court on May 14, claiming that Freepoint terminated Martin in November for failing to flag unethical conduct on the oil team of the company during an FBI inspection in December. The Stamford-based Connecticut company denied the allegations, and stated that Martin was dismissed for performance-related factors.