Page 8 - Energy

US trade deficit widens to 6-month high, expected to dent economic growth

Stocks on Wall Street were trading mostly lower. The dollar slipped against a basket of currencies. US Treasury prices fell

World not on track to reach energy goal, 2.3 bn use polluting fuel: Report

The report said that at the current estimate, 660 million people are projected to be without electricity and 1.9 billion won't have clean cooking opportunities by 2030

Japan earmarks $107 bn for developing hydrogen energy to cut emissions

Japan's government on Tuesday adopted a revision to the country's plans to use more hydrogen as fuel as part of the effort to reduce carbon emissions. The plan sets an ambitious target to increase the annual supply by six times from the current level to 12 million tons by 2040. It also pledges 15 trillion yen (USD 107 billion) in funding from both private and public sources to build up hydrogen-related supply chains over the next 15 years. Japan's decarbonization strategy centres on using so-called clean coal, hydrogen and nuclear energy to bridge its transition to renewable energy. Russia's war on Ukraine has deepened concerns over energy security and complicated that effort, but other advanced Western nations are pushing for faster adoption of renewable energy, such as solar, wind and geothermal. So far, Japan is relying on hydrogen mainly produced using fossil fuels. Some experts say strategies like commercialising the use of hydrogen and ammonia mainly cater to big business ...

Hyundai Motor, LG Energy Solution to invest $4.3 bn in US battery plant

In October, Hyundai Motor Group began the construction of a 300,000-unit-a-year EV and battery plant in Georgia, aiming to begin commercial production in the first half of 2025

Nifty Energy, Commodities indices may languish in near-term, show charts

According to the technical analyst, traders must adopt 'sell-on-rise' strategy for both Nifty Energy, and Commodities indices

India can cut energy import bill by using 10% of coal bed methane: Experts

India can cut its energy imports bill by USD 2 billion if the nation harnesses 10 per cent of the coal bed methane reserves of 2,600 billion cubic meters, said experts. This assumes significance in view India's coal production clocking record high during the last iscal year and plans afoot to increase it further. The experts believe that the industry's collective efforts in utilising Coal Bed Methane (CBM) can help the country save over USD 2 billion on imports bill in near future. India has an estimated Coal Bed Methane Reserve of 2600 billion cubic metres, they say. "India touched a record-high growth in coal production of more than 778.19 million tonne, posting record growth in coal production in the year 2022-23. "Plan is to increase the production to over one billion tonne by 2025-26. Therefore, we collectively must tap and utilise Coal Bed Methane which in turn would help reduce emissions and also boost India's energy security. Even if the industry can tap about 10 per cent o

Charts show Nifty Commodities in overbought zone; sell-on-rise strategy apt

The recent bullish run has propelled Nifty Commodities into an overbought zone, implying optimal trading strategy to capitalise on any upward price movements by selling, said technical analyst

Punjab launches energy action plan to ensure promotion of energy efficiency

Punjab New and Renewable Energy Sources Department launched Punjab State Energy Action Plan to ensure promotion of energy efficiency in buildings

Increasing compressed biogas output, can reduce annual import by $25bn: IBA

The Indian Biogas Association (IBA) has pitched for increasing the share of compressed biogas in total gas mix, saying it will help reduce the country's annual import bill by USD 20-25 billion by 2030. In a letter to Petroleum and Natural Gas Minister Hardeep Singh Puri recently, IBA suggested that in the process of attaining a gas-based economy by 2030, the oil ministry has to keep a strict vigil on the overall sustainability. The industry body suggested gradually increasing the share of compressed biogas (CBG) in the overall gas mix to at least 10 per cent by 2025 and to 20 per cent in 2030. Furthermore, the CBG-CGD (city gas distribution) synchronization plan, which was launched in April 2021 and is due for review three years later (in 2024), should be extended for at least ten years to provide long-term certainty to players in the CBG ecosystem, it suggested. Increasing the share of CBG will ensure guaranteed offtake and a transparent ecosystem for CBG producers. It will also

New material converts simple mechanical vibrations into electricity

In a world hungry for clean energy, engineers have created a new material that converts simple mechanical vibrations all around us into electricity to power sensors in pacemakers, spacecraft

OECD CPI falls to 7.7% in March 2023, as energy inflation continues to drop

Energy prices declined by 0.9 percentage point in March. Food inflation and inflation less food less energy increased slightly

Social media ads data employed to note AC buying behaviour worldwide: Study

A new research provides a first glimpse of what drives and motivates people to buy air-conditioners worldwide, through social media advertising data. The data, the researchers from Radboud University of The Netherlands said, is important to understand where air-conditioners are sold globally to limit their impact on our energy grids and climate. They have published their research in the journal One Earth. Sibel Eker, assistant professor of system dynamics at the university, said that the data that they looked at showed that globally, middle aged, highly educated, married, or cohabiting males, as well as parents of small children, tended to express more online interest in AC units. "Regions such as the Balkans and Middle East, regions that are increasingly vulnerable to rising temperatures and heatwaves, show the highest online interest in AC. "In those countries, population groups that have been known to be reluctant to adopt to AC, such as the elderly, show a relatively high onli

Ending deforestation likely to cost more than $130 billion a year: Report

It would likely cost more than $130 billion a year to end deforestation by the end of this decade, according to a report from a group of financiers, energy industry executives and academics

Centre to put up 50 Gw of renewable projects for bidding this year

Of this, at least one Gw would be wind energy

Environmental groups slam German government's energy, climate deal

Environmental groups have criticised a deal between Germany's three governing parties on energy and climate policies, saying Wednesday that it risks watering down essential measures to curb global warming. The agreement announced Tuesday followed three days of intense haggling and weeks of discord that threatened to paralyse Chancellor Olaf Scholz's government. It eases requirements for new home heating systems and allows for the construction and expansion of Germany's highways, while also providing more money for the country's rail network. But Germany's BUND environmental group accused Scholz of giving in to expensive false solutions and ignoring warnings contained in a recent UN climate report about the need for drastic action to reduce greenhouse gas emissions. Accelerating the planning process for up to 144 Autobahn projects is a fatal signal at a time of climate crisis, the group's head, Olaf Brandt, said. Brandt also criticised planned subsidies for synthetic vehicle fuels,

Net zero target: How MSMEs are caught between a rock and a hard place

Amid a green push by governments across the globe, small industries rue lack of resources and help in energy transition

Global banking crisis: Low prices to brighten prospects of OMCs

While prices sustaining lower levels is crucial, Govt actions are also a key monitorable given the forthcoming elections in 2024

More steam left in NTPC stock; to be key beneficiary of rising power demand

India's largest generator will be a key beneficiary of increasing power demand, access to coal supply and focus on renewable energy

SCO countries agree to closely work together on emerging fuels

Move will see China, Russia, others collaborate with India on emerging fuel tech, energy modelling, and transition goals

Hybrid energy project likely to start by 2024, says Jindal Stainless MD

The 300 MW hybrid project in partnership with ReNew is expected to commence operation in the next 18 months, Jindal Stainless Managing Director Abhyuday Jindal has said. In December 2022, Jindal Stainless Ltd (JSL) partnered with ReNew to develop the proposed 300 MW hybrid energy project. When asked about the timeline of the project, Jindal told PTI, "We (JSL and ReNew) are on track on the pact. That project is 300 MW. Land acquisition has already been completed for the project". The project will start in the next one and a half years' time, he said. On the company's hydrogen project, the MD said it is expected to start in July this year. In August 2022, the country's largest stainless steel player partnered with Hygenco India Private Limited to set up a green hydrogen plant. "These green initiatives are part of our mission to switch from a thermal energy-intensive manufacturing setup to renewable energy alternatives," he said. The company will continue to take proactive steps t