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Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production of oil, gas and coal, which will have the opposite effect.
The top-20 energy-producing nations intend by 2030 to extract double the amount of fossil fuels that would be consistent with the threshold needed to keep warming in check.
The contradiction between climate promises and energy production is nowhere more evident than in the United Arab Emirates, which is set to host the annual climate summit known as COP28, opening Nov. 30.
Diplomats, environmentalists and business leaders will gather in Dubai to hash out how each nation will reach its climate goals and debate whether to issue a statement on phasing out fossil fuels in the coming years.
In July, U.A.E. officials said the country by 2030 would cut greenhouse-gas emissions by 19% compared with 2019. But the state-owned Abu Dhabi National Oil Co. plans to boost oil production capacity to 5 million barrels a day by 2027 from the current 4 million barrels a day.
The company also plans to increase liquid natural gas production from the current 6 million metric tons a year to 15.6 million metric tons by 2028, according to a new report issued Wednesday by the United Nations Environment Program, the nonprofit Stockholm Environment Institute and several other institutions.
The study analyzed 20 nations that produce 80% of the world’s energy. In 2015, world leaders met in Paris and pledged to slow coal, oil and gas production to keep the climate from warming more than 1.5 degrees Celsius above preindustrial levels.
Even positive efforts by some nations will be canceled out by the actions of others.
By 2030, the U.S. expects to cut coal production by 43%, while China plans a 15% reduction. That drop will be overshadowed by new coal production in India, Indonesia and Russia, the report said.
Although the U.S. is phasing out coal, its oil production will reach, and remain at, record levels of 19 million to 21 million barrels a day between 2024 and 2050. U.S. natural gas is projected to increase continually, reaching 1.2 trillion cubic meters in 2050, the report said. Most of that oil and gas is for export.
The report relied on projections from the U.N.’s Intergovernmental Panel on Climate Change and publicly available documents.
Some nations have joined initiatives such as the Global Methane Pledge and the Net-Zero Producers Forum to reduce the greenhouse emissions that scientists say are responsible for climate change. While these agreements might make fossil-fuel production less polluting, they won’t put a big dent in overall emissions, according to Michael Lazarus, a senior scientist at the SEI and a lead author of the report.
“None of these initiatives mentioned the need to reduce fossil fuel production itself, and none of these countries have committed to reduce coal, oil and gas production in line with limiting warming to 1.5 degrees,” Lazarus said. “Most of these countries, especially those with significant oil and gas reserves, plan to increase production.”
Even though energy from carbon-free solar and wind power is making huge gains, the benefits are diminished by ongoing fossil fuel production, said Ploy Achakulwisut, a lead author of the report and a research fellow at the SEI.
“Despite encouraging signs of an emerging clean energy transition, the persistence of the global production gap puts a well-managed and equitable energy transition at risk and conflicts with governments’ climate commitments,” Achakulwisut said.
Source: WSJ
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Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Central Electricity Authority - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- PTC India Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
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