Tc energy

Apparently, when President Joe Biden goes off script, the truth comes out. During last night’s State of the Union speech, he made a stunning admission to the entire country, on live television, about why energy prices are so stubbornly high. While railing against oil industry profits, he said : Last year, they made $200 billion in the midst of a global energy crisis. I think it’s outrageous. Why? They invested too little of that profit to increase domestic production, and when I talked to a couple of them, they say, “We’re afraid you’re going to shut down all the oil wells and all the oil refineries anyway, so why should we invest in them?” Got that? Biden just admitted to the entire country that companies aren’t drilling more because of his own actions toward the oil and gas industry. Now, this isn’t a surprise to those of us who follow this issue closely – heck, one of his first actions was killing the Keystone XL oil pipeline and halting new oil and gas drilling on … [Read more...] about BASTASCH: You Might Have Missed This, But Biden Just Made A Stunning Admission About His Energy Agenda

The rising popularity of electric vehicles and other technology caused a surge in demand for cobalt, a metal that is mostly found in Africa, where miners are reportedly working in horrific conditions. The growing market for electric-powered automobiles, smartphones and other high-tech devices has made for unintended consequences halfway around the world. Such products — which operate on lithium-ion batteries — typically require cobalt, a chemical element found within the earth’s crust. The metal is becoming increasingly associated with the “blood diamond” vernacular. The Democratic Republic of the Congo, a central African country, is where the vast majority of cobalt is currently mined. While the Congo has largely profited off the metal, international observers have expressed concern over the working conditions of cobalt miners. Activists have decried inhumane working conditions African cobalt miners are enduring. The precarious situation of depending on an unstable country for … [Read more...] about Cobalt Is The New Blood Diamond Thanks To Green Energy

Indian Oil Corporation Ltd hopes that its green hydrogen initiatives and collaborations will accelerate the conversion of grey hydrogen to green and help achieve the ‘1-1-1 goal,’ Chairman Shrikant Madhav Vaidya, told Moneycontrol at the ‘India Energy Week 2023’. [Green Hydrogen 1-1-1 refers to the aim of reducing the price to $1 per 1 kilogram in 1 decade. ] Indian Oil Corporation is the largest state-owned oil refining company, with a capacity of 70.05 million metric tonnes per annum. It is also one of the leading petrochemical producers in India. Vaidya talked about the company’s petrochemicals expansion plan, the role of fossil fuels, and talent availability for its clean energy ventures, including green hydrogen. Edited excerpts: Q: Indian Oil has made a move towards clean energy in the green hydrogen space. What kind of targets do you have? A: Hydrogen and the refining industry go hand-in-hand. It's a raw material for me. So when I talk of hydrogen, basically, it's … [Read more...] about Hope to achieve ‘1-1-1 goal’ for Green hydrogen, petrochemicals to be integral part of Indian Oil’s growth story: Chairman

As of now, corporates are going for clean electricity as step one, but eventually there will be other opportunities to decarbonise their entire operations, said ReNew Power MD Sumant Sinha The incentives and subsidies being planned by other countries for green hydrogen manufacturing are going to pose a stiff challenge for India if it does not review its strategy, said ReNew Power’s chairman and chief executive officer (CEO) Sumant Sinha. In an exclusive interview to Moneycontrol at the India Energy Week 2023 in Bengaluru, Sinha also said that from focusing only on renewables, the company now intends to also help corporates with their decarbonisation strategies. Edited excerpts from the interview: At the India Energy Week’s inaugural ceremony, the prime minister said going ahead, India's energy growth would be the highest in the world. We have done a lot of things in different segments of energy, whether it's hydrocarbons or clean energy. What are the gaps that still … [Read more...] about India needs to review Green Hydrogen policy in view of incentives offered by other countries: Sumant Sinha of ReNew Power

Representative image Jio-bp, the fuel and mobility joint venture of Reliance Industries Ltd and UK's bp, has launched petrol blended with 20 per cent ethanol, aligning with the government programme to cut oil imports and reduce carbon emissions. "In line with the roadmap set by the Government, Jio-bp has become one of the first fuel retailers in India to make E20 blended petrol available," the company said in a statement. "Customers with E20 petrol-compatible vehicles will be able to opt for this fuel at select Jio-bp outlets, and the offering will soon be expanded across the network." The E20 fuel is a 20 per cent blend of ethanol and 80 per cent of petrol. The blending of ethanol, extracted from sugarcane as well as broken rice and other foodgrains, in petrol is being introduced in the country by the government to reduce the country's oil import cost and lower carbon emissions while giving farmers an additional source of income. "India's market for fuels and mobility … [Read more...] about Jio-bp rolls out E20 petrol with 20% ethanol

Adani group stocks Sustainalytics downgraded corporate governance-related scores for three of India's Adani Group companies on ethics concerns, the sustainability ratings company said on Wednesday, citing questions a short-seller raised last month. The lowered scores, including for Adani Green Energy and Adani Transmission, come after a Jan. 24 report from short-seller Hindenburg Research alleged accounting fraud and stock manipulation at the sprawling Indian conglomerate, hammering the shares of its listed companies and the wealth of founder Gautam Adani. Representatives for Sustainalytics, a unit of Morningstar Inc, said its clients received research this month elaborating on the downgrades. The changes flow to the overall risk rating tied to environmental, social and governance (ESG) matters assigned by Sustainalytics to Adani companies, which can influence whether sustainability-minded fund managers buy or hold the securities. The changes would not have a major … [Read more...] about Sustainalytics downgrades three Adani companies’ governance scores

Telangana is committed to providing an impetus to electric vehicle adoption and aims to play a pivotal role in India's transition to electric mobility, state Minister for IT, Industries and Commerce K T Rama Rao said on Wednesday. Speaking after launching the first edition of the Hyderabad E-Motor Show as part of the ongoing Hyderabad E-Mobility Week, Rama Rao said Telangana has been a front-runner in adopting sustainability and clean energy, while we remain focused on making India self-reliant." "With our progressive EV adoption policy, and our ability to provide 24x7 electricity, we aim to become the most 'electrified state' in mobility in India," Rama Rao said, according to an official release. "We strongly believe India is well equipped to develop as a hub for manufacturing of electric vehicles and its supply chain," he said. KTR, as Rama Rao is popularly known, said Telangana is pursuing a comprehensive strategy to bring manufacturing of various components of the … [Read more...] about Telangana will play pivotal role in India’s e-mobility transition: Minister KTR

Source: Reuters Global steel giant ArcelorMittal has posted a 93.54 per cent fall in its net income to USD 261 million for the fourth quarter ended December 31 on account of lower sales. The Luxembourg-based company had posted a net income of USD 4,045 million in the year-ago period. In a statement, ArcelorMittal said it has "recorded a net income in 4Q 2022 of USD 261 million compared to...USD 4,045 million for 4Q 2021. Adjusted net income was USD 1,189 million compared to USD 3,827 million for 4Q 2021". Its steel production fell to 13.2 MT from 16.5 MT a year ago. The total steel shipments in 4Q 2022 stood at 12.6 MT, 19.9 per cent lower from 15.8 MT in the October-December period of 2021, reflecting the significantly lower demand due to destocking. Read More Sales in 4Q 2022 at USD 16.9 billion were also 18.8 per cent down compared to USD 20.8 billion for 4Q 2021, primarily due to lower average steel selling prices and lower steel shipment volumes. … [Read more...] about ArcelorMittal Q4 net income declines 93% to $261 million

"Good Luck Fish," lifestyle brand 2nd universe's updated version of the dried pollack tied with silk yarn tradition [2ND UNIVERSE] The city of Seoul has a fantastic collision of old and new. In between its modern buildings, the city boasts beautiful ancient palaces and traditional houses that harmonize with nature. Trendy buildings these days seem to be bringing that power of Seoul’s contrasting beauty into their designs as many of them have fused the modern with the traditional, like the renovated hanok (traditional Korean building) cafes in Samcheong-dong, or newer buildings that feature traditional Korean designs. Whatever the method may be, the vibe is still very natural, boosting the understated charm that represents Korea's capital city. Branching off of these efforts, many brands are taking on the challenge of mixing and matching traditional Korean elements while still staying up-to-date on trends. The following is a selection by the Korea JoongAng Daily of local … [Read more...] about Korean design jumps on the K-history bandwagon with traditional motifs

A sunset observatory design concept for Nodeul Island provided by the Seoul Metropolitan Government. [SEOUL METROPOLITAN GOVERNMENT] Seoul city government said it will significantly lift regulatory restrictions, including the floor area ratio and the building-to-land ratio, for creatively designed buildings that become major landmarks. The city will first apply the regulatory changes to transform Nodeul Island in the middle of the Han River. Seoul Metropolitan Government on Thursday announced a plan in turn the nation’s capital into a city of innovative architectural design. Seoul said it will benchmark the innovative designs incorporated into the Dutch city of Rotterdam, which attracts 10 million tourists and generates around 800 billion won (over $630 million) a year through tourism , as well as Guggenheim Museum Bilbao, which attracts 1.3 million tourists and makes 100 billion won a year. seoul Mayor Oh Se-hoon during a press briefing in Seoul on Thursday … [Read more...] about Seoul to ease regulations to promote creative design