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Mining giant expects global steel consumption to increase by 42 million tonnes in 2030 and 76m tonnes in 2050, due to soaring demand for solar and wind power equipment.
US Treasury has imposed sanctions on an Indian petrochemical firm and groups in the UAE and Hong Kong for secret deals that funded the shipping of Iranian oil products to South and East Asia
Mashreq Bank in Dubai declined a request to take payments from at least Indian two refiners in Emirati dirhams, forcing the buyers to pay for crude in US dollars, sources say
China installed a massive 53 gigawatts of renewable energy in the first half of 2022, but it also approved $26-33 billion of investment in the coal power and steel sectors, a new report said
Adani said 70% of the $100 billion-plus his group will invest over the next decade will go to "energy transition", adding that they are already the world’s largest solar player
China provided 5.37 million renewable energy jobs last year – more than the US, the EU, South America and Africa put together, the International Labour Organization said
Zhejiang Huayou Cobalt is splashing $300 million on the new plant, aimed at bolstering China's battery materials supply for the electric vehicle (EV) market, report says
The unit aims to capture and store 3 million tonnes annually of CO2 and utilise 2 million tonnes a year by 2025, Sinopec said
Pakistan could also forgo loan repayments to invest in climate-change resilient infrastructure instead, the UNDP said
"We're raising runs next month in preparation for a possible opening in exports," a state-run refiner official said.
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Energy: The Big Picture
India’s fast-rising Russian oil imports are being matched by its rising oil exports suggesting it may be reselling Russia’s oil to the West.
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Transport InsightsAnglo-American Puts World’s Biggest Hydrogen Truck to WorkMining giant Anglo-American has unveiled a prototype of what it says is the world’s largest hydrogen-powered mining truck
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Energy InsightsWhat is China’s Tokamak Fusion Reactor?The goal of the Experimental Advanced Superconducting Tokamak project is to unlock the secret to clean and limitless energy on earth, with minimal waste products
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Energy InsightsDoes US Warning to India Point to More Russian Oil Restrictions?The US state department says it is aware of talks between Russia and India concerning the purchase of oil. It has no objection to India buying Russian oil, provided it buys at discount
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Market InsightsKazakhstan Unrest Poses Risks for World EconomyHundreds of people have died and thousands have been detained in Kazakhstan during the worst violence seen in the Central Asian nation since it became independent in the early 1990s. The unrest in Kazakhstan poses risks for energy markets, and even cryptocurrencies.
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