Shell has projected that liquefied natural gas (LNG) will replace coal as a leading driver of Chinese and other Asian economies. According to the firm’s LNG Outlook published today, demand will rise by 50 percent by 2040 and global LNG trade will grow to around 625-685m tonnes per year, up from the 404m tonnes traded…
India’s Government launched its 9th round of commercial auctions for its coal mines on Wednesday, as the country looks to boost domestic production of the fossil fuel to meet increasing energy demand. The auction will see 26 mines from four states offered out; 12 in Madhya Pradesh, eight in Chhattisgarh, five…
U.S. President Joe Biden announced during a briefing on April 24 he had signed the foreign aid bill containing close to $61 billion for Ukraine into law, marking the final step of the legislative process. After months of political infighting and a deteriorating situation on the battlefield in Ukraine, the U.S. House of Representatives finally…
Thirty-eight years after the Chornobyl disaster, Ukraine’s nuclear industry continues to produce around half of Ukraine’s power output and remains vital to keeping the country functioning. The share of energy output in Ukraine that comes from nuclear power is the third highest in the world after France and Slovakia. Amid ongoing attacks on the Zaporizhzhia…
The U.S. secretly shipped over 100 long-range ATACMS missiles to Ukraine last week, some of which were immediately deployed and used to strike a Russian military airfield in Dzhankoi in occupied Crimea, the New York Times reported on April 25. Washington announced an aid package worth $300 million to Kyiv on March 12 while Congress…
Chevron has announced the start of the second phase of development at the Tamar gas field offshore Israel. Despite the ongoing war with Hamas, the U.S. supermajor is working to increase production at the deposit to 1.6 billion cubic meters daily. The expansion project will cost $24 million. “Reaching FID for Phase Two of Tamar’s…
Spain has decided to send a small number of missiles for Patriot air defense systems to Ukraine. According to Reuters, El Pais newspaper reported on Friday that Spain had ruled out delivering Patriot anti-aircraft launchers but it would supply the Ukrainian military with missiles for the system. The country’s defense…
A fire broke out Saturday in a warehouse storing lithium-ion batteries in southern France, near Toulouse. Per media reports, the warehouse, property of local recycling company Société Nouvelle d’Affinage des Métaux contained 900 tons of batteries. Reuters quoted the local police authorities as saying that, as of Sunday night, the fire was under control. Also,…
Australian coking coal’s share in imports down to 60% now from 75% five years back, the US second largest supplier. India’s coking coal imports are at a five-year high for the April-November period (11 months) of this fiscal at 38.14 million tonnes (mt). Imports were slightly higher on a Y-o-Y basis with nearly 38.12 mt…
Bitcoin addresses holding at least 1,000 BTC are climbing again despite the BTC price reaching over $70,000 for the first time. Bitcoin whales are not in a rush to sell into the current rally that propelled Bitcoin to new heights above $70,000, the latest on-chain data suggests. The number of unique addresses holding at least…