India approves $816 Million Rare Earth Permanent Magnets Manufacturing Programme
The information minister announced on Wednesday that India had approved a manufacturing program for rare earth permanent magnets worth 72.8 billion rupees (815.74 million dollars) in order to reduce reliance on imported elements, which are critical to industries ranging from aerospace and electric vehicles to renewable energy and defence. According to the Indian government, the country's demand for rare earth permanent magnetics - the strongest type of permanent magnets available - will double by 2030. However, it currently imports most of its supply.
India approves a $816 million programme to manufacture rare earth permanent magnets
The information minister announced on Wednesday that India had approved a manufacturing program for rare earth permanent magnets worth 72.8 billion rupees (815.74 million dollars) in order to reduce reliance on imported elements, which are critical to industries ranging from aerospace and electric vehicles to renewable energy and defence. According to the Indian government, the country's demand for rare earth permanent magnetics - the strongest type of permanent magnet - will double by 2030. However, it currently imports most of its supply.
Inox Green, India loses grid access to 300 MW of wind power project after regulators back revocation
Inox Green Energy Services, an Indian developer of clean energy, has lost grid connectivity after it failed to complete its 300 megawatts (MW) Gujarat wind project on time. In an order dated on Monday, the Central Electricity Regulatory Commission, (CERC), upheld the disconnection of the country's Grid Connectivity Authority, saying that the firm failed to achieve financial close or make significant advances despite multiple extensions. Central Transmission Utility of India Ltd.
Nvidia joins India Deep Tech Alliance, adding new members and $850 million pledge
Nvidia joined Indian and U.S. Investors in supporting the deep-tech startups of South Asia on Wednesday. The group has added new members, and received more than $850 Million in capital commitments. The India Deep Tech Alliance has welcomed new investors including Qualcomm Ventures. Activate AI. InfoEdge Ventures. Chirate Ventures. In September, the program was launched with an initial $1 billion commitment to support industries like space, semiconductors and artificial intelligence.
Sources say that India is considering a nuclear liability fund to cover major accidents.
Two government sources have confirmed that India is planning to create a nuclear liability funds to cover accident payments in excess of 15 billion rupies ($169 million), owed by plant owners. This will ease concerns about risk sharing among global suppliers and companies. Sources with direct knowledge of the issue said that the move could unlock foreign and private investment in India's nuclear industry by aligning India’s compensation framework to global standards.
MPOC says that palm oil is expected to trade between 4,200 and 4500 ringgits in the coming weeks.
The Malaysian Palm Oil Council stated on Monday that palm oil prices are expected to fluctuate between 4,200 and 4,500 Ringgit ($998 and $1,069) per metric tonne in the coming weeks due to a tight supply of vegetable oil and weak demand from key markets. The palm oil futures traded on the Malaysian Stock Exchange ended the morning at 4,464 Ringgit, close to the upper end of the range. The council stated that consumption of four major vegetable oil - palm…
Singapore Central Bank secures $510 Million to support green infrastructure in Asia
Singapore's central banks announced on Monday that it had secured $510m in committed capital to be used for a fund which would support green infrastructure in Southeast Asia and South Asia. The Monetary Authority of Singapore announced that it had secured funding from a variety of regional players including Asia-focused lender HSBC, the Australian Government and Singapore's State-owned Investor Temasek. Green Investments Partnership is a fund that will support sustainable transportation, renewable energy, and storage.
South Asia's solar power push is facing a land battle
Food and jobs are at risk when cropland and pastures are taken away. By BhaskerTripathi and Md. Modhera’s 6 megawatts (MW) of solar power and battery storage system were built in 2022, despite the opposition of local farmers who had filed a lawsuit in the highest court for the state in 2020 to stop its construction. According to the research group Land Conflict Watch, it is one of 25 land conflicts in India that are linked to renewable energies. Local media in Bangladesh reported that solar projects were halted because of local protests.
Diamond Gas International anticipates LNG glut in the years 2027-2028
Diamond Gas International CEO Diamond Gas said that a global glut of liquefied gas will be forecast between 2027 and 2028 after new projects are completed. Takuji Knzo, at the FT Commodities Asia Summit, stated that the glut of supply will last only two to three more years, as Asia is expected to increase its demand. He said: "It could end quite quickly... Concerning fears that the Trump administration might implement tariffs and stop accepting U.S.
APPEC-Gunvor expanding Asia operations and into power, according to chairman
Gunvor Group, a global energy trader, is expanding its Asia operations in order to expand into existing markets, such as liquefied petrol gas (LPG), gasoline, naphtha and aromatics, as well as new areas, including power. Power is one of the areas that Torbjorn Tornqvist - who is also a founder - said had potential in Asia. He was speaking on the sidelines the Asia Pacific Petroleum Conference Conference (APPEC), which took place on Monday. Gunvor, a Geneva-based company, has its main Asian trading hub in Singapore.
Officials say that Bangladesh will buy LNG spot cargoes through an open tender.
Two Petrobangla officials announced on Thursday that Bangladesh will purchase LNG spot from the international market via an open bid rather than through a private one. One official said that before, bidders used to submit their price quotes by email or internal application at short notice and the contract was awarded to the lowest-bidder. One official said that the change was made to increase transparency. The process of importing LNG will now be governed by public procurement rules. This will take more time than before.
U.S. LNG Exports to Europe on Track to Surpass Biden Promise
When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas to offset shortages from Russia’s invasion of Ukraine, his pledge was greeted with skepticism.After all, the U.S. LNG industry was already hitting its export limits and the global market is dominated by long-term contracts that can dictate where exported gas would go for 20years at a time.It turns out, however, that Biden's…
Global LNG Demand to Double by 2040: Shell
Global demand for liquefied natural gas (LNG), rose by 12.5% to hit 359 million tons last year, according to Royal Dutch Shell’s annual LNG Outlook report.According to the forecast by Shell, LNG demand was expected to double by 2040 to 700 million tons, with natural gas set to play “a growing role in shaping a lower-carbon energy system.”Asia is expected to remain the dominant region in the decades to come, with South and South-east Asia generating…
Europe Dominates LNG Import Story in 2019
Global liquefied natural gas (LNG) production jumped in 2019, triggering oversupply and low prices that are expected to persist in 2020. Initial full-year data from LNG Edge shows exports at 355 million tonnes in 2019, up from 314.9 million tonnes in 2018.This represents the largest ever increase in production.While East Asian, especially Chinese, demand increased in 2017 and 2018 to absorb additional production, there was little change this year.
LR Bolsters Well Management Team
Lloyd’s Register announced it has made several key appointments to its wells engineering and project management consultancy following a series of major contract wins and global growth.John O’Neill brings more than 25 years’ experience in global wells projects to the newly created position of Head of Wells Delivery. Having worked predominantly across the North Sea and Middle East for BP, Shell and Schlumberger, he most recently held the role of UK…
APM Terminals Pushes Solar Energy in India
South Asia's APM Terminals Inland Services, operator of port and integrated inland service networks, is helping set up solar power plants in deep pockets of India.The global terminal network company is providing tailor-made logistics solutions to help overcome transport, technical and procedural challenges.The company is now offering a new end-to-end solution for major solar projects, which includes receiving cargo at the sea-port, facilitating customs inspection and clearance…
Coal's Uncertain Future and Glencore's Output Cap
It's been weird in the coal world in recent days, with the world's largest shipper saying it's capping output, biggest seaborne buyer China putting restrictions on some imports, and an Australian court saying mines must factor in climate change.Throw in an executive at a major Indian coal-fired power generator saying his company won't build any new plants as coal can't compete with renewables, and it's little surprise that environmental activists…
Afghan Launches India-Iran Shipping
Afghan Ministry of Transportation will soon launch a commercial shipping line with the assistance of the Islamic Republic of Iran to conduct business activities between Chabahar Free Trade Zone and India.IRNA reported quoted the Afghan Ministry of Transportation as saying that the shipping sector would soon be formed and the ships could operate commercial activities with the flag of Afghanistan in free waters.The other local media hailed the move…
Oman and Iran to Drive Growth for Oil Storage Industry
Oman and Iran will drive the majority of the growth in the oil storage industry in the Middle East between 2018 and 2022, contributing more oil storage capacity than any other country in the region, according to leading data and analytics company GlobalData.The company’s report: ‘Oil Storage Industry Outlook in Middle East to 2022’ shows that in 2017, the Middle East had an oil storage capacity of 80,005.7 thousand cubic meters (mcm) and accounts…
Coal Soars on Rising Demand from Asia
Coal prices in Asia are being driven to multi-year highs by a rare combination of simultaneous demand growth in the region's top four importers.Depending on the price used, thermal coal is either close to a two-year high or near the strongest in six years as China, India, Japan and South Korea imported more of the polluting fuel in the first five months of this year compared to the same period in 2017.The Australian thermal coal benchmark, the weekly Newcastle Index…