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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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- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
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