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