Energy produced by 1 litre diesel

- A + A MELBOURNE (June 28): Oil prices rose about 1% in early Asian trade on Tuesday after the United Arab Emirates' energy minister said the nation is producing near capacity, countering expectations that it could help boost supply in a tight market. The UAE and Saudi Arabia have been seen as the only two countries in the Organization of the Petroleum Exporting Countries (OPEC) with spare capacity available to make up for lost Russian supply and weak output from other member nations. U.S. West Texas Intermediate (WTI) crude futures climbed $1.07, or 1%, to $110.64 a barrel at 0028 GMT, extending a 1.8% gain in the previous session. Brent crude futures jumped $1.08, or 0.9%, to $116.17 a barrel, adding to a 1.7% rise in the previous session. "A seam of tight supply news bolstered the market. Two major producers, Saudi Arabia and the UAE, are said to be at, or very close to, near‑term capacity limits," Commonwealth Bank commodities analyst Tobin Gorey said in a … [Read more...] about Oil climbs as major producer UAE says it has no spare capacity

- A + A KUALA LUMPUR (June 27): Here is a brief look at some corporate announcements and news flow on Monday (June 27) which include Dagang NeXchange Bhd, MyNews Holdings Bhd, AirAsia X Bhd, Spritzer Bhd, Sapura Energy Bhd, Pertama Digital Bhd, Southern Cable Group Bhd, Tenaga Nasional Bhd and Reach Energy Bhd. Dagang NeXchange Bhd (DNeX) signed a memorandum of understanding with Saudi Arabia-based Ajlan & Bros Holding Group (Abilitii) to explore business synergy between the two companies. DNeX said the companies will look into business collaboration in technology, software products and platforms for facilitating trade, oil and gas production and trade, software development, system integration and consultation services. MyNews Holdings Bhd posted its ninth consecutive quarter in the red, with a net loss of RM10.22 million for the second quarter ended April 30, 2022, from RM10.32 million a year ago. The results came amid higher revenue, offset by higher cost … [Read more...] about DNeX, MyNews, AAX, Spritzer, Sapura Energy, Pertama Digital, Southern Cable, TNB, Reach Energy

Share to Twitter Share to Linkedin Adani Enterprises —controlled by Gautam Adani and his family—is pushing ahead with plans to build India’s largest copper refinery as the world’s second most populous nation seeks to reduce its reliance on metal imports. The conglomerate—which also has interests in airports, edible oils, ports, renewable energy and toll roads—said in a regulatory filing on Sunday that its unit Kutch Copper has raised 60.7 billion rupees ($775 million) in loans from a syndicate of banks led by the State Bank of India. Proceeds will be used to accelerate the construction of a greenfield copper refining plant in Gujarat, Adani’s home state in western India. “Kutch Copper aims to create the capacity for production of refined copper, which plays a vital role in strengthening the nation’s shift towards electric vehicles and renewables,” Vinay Prakash, director of Adani Enterprises said in a statement. “The project has requisite technology … [Read more...] about Asia’s Richest Man, Gautam Adani, Raises $775 Million To Build India’s Largest Copper Refinery

French President Emmanuel Macron was overheard at the G7 summit in Germany Monday afternoon telling President Joe Biden that neither the United Arab Emirates nor Saudi Arabia have much room to increase oil production capacity, according to Reuters. Macron’s comment comes as a major focus of the ongoing summit is to find ways to ease the energy strain on Europe resulting from the Russian invasion of Ukraine. Both men would like to find ways to replace the roughly two million barrels per day (bpd) of crude oil and additional two million bpd of refined products that Europe had been importing from Russia that is now subject to sanctions, Reuters reported. Biden has been trying to get the Organization of the Petroleum Exporting Countries (OPEC) to increase oil supply for months, and plans to visit Saudi Arabia in July at least in part to force the issue. But, according to energy trader and market analyst Rebecca Babin, “Saudi Arabia and the UAE are bumping up against their … [Read more...] about Macron Caught Breaking Some Bad News To Biden On G7 Sidelines

Share to Twitter Share to Linkedin This week’s Current Climate , which every Saturday brings you the latest news about the business of sustainability. Sign up to get it in your inbox every week. O n Thursday , the Biden Administration announced a partnership with 11 state governments to accelerate construction of offshore wind energy projects along the east coast. This move is a component of the Administrations long-term goal to have 30 gigawatts from offshore wind by the end of the decade. That’s enough to cut 78 million metric tons of carbon emissions and to power 10 million homes (or about 24 trips on Doc Brown’s time machine). As part of the move, the Department of Energy along with the governments of Maryland and New York will provide funding to secure supply chains for the project. “Ten million homes with offshore wind. Ports turned back into economic engines, being in a position where foundries and factories are up and running — … [Read more...] about More Offshore Wind, Tesla’s ‘Money Furnaces’ And Green Hydrogen In Coal Country

Higher commodity prices push PPI to record 11.2% in May - A + A KUALA LUMPUR (June 28): Malaysia’s Producer Price Index (PPI), which measures the prices of goods at factory gate, remained high at a rate of 11.2% in May 2022 as compared to 11.0% in April 2022, according to the Department of Statistics Malaysia (DOSM). In a statement on Tuesday (June 28), chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the increase in the PPI local production in May 2022 was attributed to the mining index, which increased 20.6% from 18.4% in April 2022. He said the index of agriculture, forestry and fishing registered an increase of 16.7% (April 2022: 18.0%), mainly led by an increase in indices of growing of perennial crops (21.2%), fishing (11.3%) and growing of non-perennial crops (7.8%). In May 2022, the manufacturing index registered a double-digit increase of 10.1% for the first time since August 2011 (10.6%), underpinned by an increase in indices of subsectors, … [Read more...] about Higher commodity prices push PPI to 11.2% in May

Share to Twitter Share to Linkedin It was a momentous announcement over the last few months – Toyota’s first all-electric car, the bZ4X, was launched in the UK , having arrived in the USA in April and Japan in May. After the Japanese company’s feet-dragging and negativity towards EVs, in favor of hydrogen, it felt like an “if you can’t beat ‘em, join ‘em” moment. It might be the first ding the death knell for fuel-cell vehicles, but there is another factor that could kill hydrogen stone dead except where you absolutely must use it. Although the bZ4X’s launch has already been significantly marred by a recall , the car has potential. Its headline act is the battery warranty, which is for ten years or a million kilometers (620,000 miles). This will reassure the naysayers who go on about “having to change the battery after three years” (because they think an EV is the same as a smartphone). Otherwise, the bZ4X merely matches the crowd, with a … [Read more...] about Hydrogen Cars Might Be Dead Already Despite This Fuel Cell Hypercar

SINGAPORE, June 26 (The Straits Times/ANN): While reducing carbon emissions will help manage the extreme weather conditions that have led to food price spikes in South-East Asia, this transition to a lower carbon future could come with its own costs, one think-tank said. Global forecasting firm Oxford Economics estimated that the costs of producing food could go up by as much as 80 per cent in countries such as Indonesia by 2050, as governments implement measures aimed at achieving net zero. This is if regional authorities do not also introduce initiatives to mitigate the impact to the food supply chain, said Oxford Economics Asian macro consulting head Tom Rogers, during a webinar on Thursday (June 23). The webinar, hosted by Oxford Economics, discussed findings from a study into the impact of climate change on food prices. The study, commissioned by industry body Food Industry Asia and conducted by Oxford Economics, found that heatwaves in Thailand in December 2014 and in … [Read more...] about South-East Asia’s food production costs could go up by 80% in sustainability drive, says Study

- A + A KUALA LUMPUR (June 27): Costlier crude oil along with a stronger US dollar will erode Spritzer's Bhd profit margin, the bottled water producer admitted. "Costlier oil will translate into costlier PET resin, which is the main raw material used in making the [plastic] bottles. "PET resin is normally quoted in US dollar so a stronger US dollar would mean we will have to pay more for our PET resin," a company representative said in a brief email reply to theedgemarkets.com recently, when asked about the impact of surging oil prices on its manufacturing costs. According to the US-based PET Resin Association, PET — which is short for polyethylene terephthalate, the chemical name for polyester — is a clear, strong, and lightweight plastic made from crude oil and ethane extracted from natural gas that is widely used for packaging food and beverages, especially convenience-sized soft drinks, juices and water. Following Russia's incursion into Ukraine, oil prices … [Read more...] about Spritzer admits costlier crude oil, stronger US dollar will erode its profit margin

- A + A KUALA LUMPUR (June 27): S&P Global Ratings has revised upward its rating outlook on Malaysia’s long term sovereign credit ratings to stable from negative, reflecting its expectation that the country’s steady growth momentum and strong external position will remain in place for the next two years. At the same time, it anticipates that the policymaking environment will be supportive of restoring fiscal settings to a firmer footing. “We revised the outlook to stable in recognition of Malaysia's consistently strong growth trend that is faster than sovereigns of similar income level. Though Malaysia's budget deficits remain high, we expect its growth dynamics to offset vulnerabilities associated with its weak fiscal settings. In addition, political commitment to resume fiscal consolidation post-pandemic is strong, in our view," S&P said in a statement on Monday (June 27). At the same time, it affirmed its 'A-' long-term and 'A-2' short-term foreign … [Read more...] about S&P revised Malaysia’s rating outlook to stable from negative on strong growth momentum, external position