The world’s biggest refiner, China Petroleum & Chemical Corporation, or Sinopec, is accelerating plans to build its first fully-owned refinery outside China.    Sinopec is set to complete a feasibility study in June to build one or two refineries in Sri Lanka as China looks to capitalize on its foreign investments. China Merchants Port Holdings has developed and operates the Hambantota port in Sri Lanka, an island very close to India. Both China and India are vying to boost their energy presence in Sri Lanka to deliver fuel…

The US threat of secondary sanctions against enablers of Russian sanctions-busting, especially China, is showing signs of crimping the Russian economy.  US Secretary of State Antony Blinken began a three-day visit to China on April 24 with a stern warning for Beijing: the United States is ready to play hardball to prevent the continuing supply of equipment to Russia that aids the Kremlin’s war effort.  China has denied accusations that it is supplying arms to Russia. Nevertheless, Beijing appears to be taking preventative steps…

Washington University in St. Louis scientists have developed a novel material that supercharges innovation in electrostatic energy storage. The material is built from artificial heterostructures made of freestanding 2D and 3D membranes that have an energy density up to 19 times higher than commercially available capacitors. Electrostatic capacitors play a crucial role in modern electronics. They enable ultrafast charging and discharging, providing energy storage and power for devices ranging from smartphones, laptops, and routers to medical…

The renewable revolution will rely on a whole lot of non-renewable resources to get the job done. Building out the massive amount of clean energy infrastructure needed for a global decarbonization transition is going to require huge quantities of resources. In particular, the clean energy transition is going to call for a whole lot of specialty metals and minerals used for different green technologies such as solar panels, batteries, wind turbines, and electrical wiring. Indeed, metals currently represent one of the hottest commodities…

The UN is this week discussing the future of plastic—or so it would seem on the surface. The UN Global Plastics Treaty negotiations aim to curb plastic pollution by essentially curbing the use of plastics globally. And they look set to fail. The goal is certainly noble. Reducing the massive amount of plastic waste that we produce on a daily basis to keep it from ending up in rivers, oceans and, according to some researchers, our bodies. Achieving this goal, however, is quite another matter. Plastics, especially single-use plastics in…

For decades, when people discussed space travel they thought of NASA. After all, the National Aeronautics and Space Administration accomplished the first moon landing in 1969 and has achieved many more feats since. However, over the last few years, several billionaires have been investing in space travel in a bid to offer passenger flights to space and enhance satellite technology. But where can these billionaires’ ventures take us and what does it mean for just a few players to be holding so much power? In 2021, two world-renowned billionaires…

Osaka Metropolitan University researchers have developed a mass synthesis process for sodium-containing sulfides. Mass synthesis of electrolytes with high conductivity and formability is key to the practical use of all-solid-state sodium batteries, thought to be safer than lithium-ion batteries and less expensive, as sodium is far more plentiful than lithium. The report discussing the discovery results has been published in the journal Energy Storage Materials and Inorganic Chemistry. The researchers developed a process that can…

Central Asian states are knocking down trade barriers, addressing a prerequisite for the formation of a unified regional market. The recent diplomatic efforts appear to have caught the attention of the Kremlin, which worries that freer trade in Central Asia will facilitate the expansion of commercial networks bypassing Russia. The creation of a unified Central Asian market enabling the seamless movement of goods and services is a central aim of a regional economic blueprint supported by the United States, known as the B5+1 process. That plan,…

Via Metal Miner By now, anyone in the metals market will know that the U.S. and UK recently banned the consumption of Russian aluminum, copper, and nickel produced from April 13 onward. While metal already on the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) are still available for consumption, no metal delivered after this date is acceptable. This holds true whether buyers purchase the metal directly or have it physically delivered to the exchange to settle a contract. The Metals Market Continues to React to the…

As the global oil market eagerly anticipates the upcoming OPEC(+) production decision—a potential shift in the current production cut strategy—most eyes are on Saudi Arabia or Aramco leaders. However, there's a new player in town, already hinting at a dramatic strategy change without OPEC's approval. Sources in Abu Dhabi suggest the Emirate is no longer convinced of the necessity of OPEC+ production cuts, given the current volatile oil markets and increased demand. Simultaneously, ADNOC sources indicate an imminent production increase.…

ExxonMobil continues to expect that the U.S. antitrust authority will give the green light to its proposed $60-billion all-stock acquisition of Pioneer Natural Resources by the end of the second quarter, Exxon’s chief financial officer Kathy Mikells told Bloomberg in an interview on Friday. Exxon said in its Q1 earnings release today that it expects the transaction, which has been approved by Pioneer shareholders, to close in the second quarter of 2024, pending regulatory approval.    The Federal Trade Commission…

Four expatriate workers lost their lives, and two others sustained injuries in a recent drone attack on the Khor Mor gas field in Iraq's Kurdistan region. This attack, reported by an advisor to the Iraqi Kurdish Prime Minister and a senior Kurdish political source, has also resulted in the suspension of production at the site. The ramifications of the assault extend beyond casualties, impacting electricity generation in the region. Kurdistan's electricity ministry stated that the drone attack disrupted gas supplies to power plants, leading to an…

Russian oil production has remained strong despite sanctions imposed by Western countries in the wake of Russia’s invasion of Ukraine. The country’s gas and liquefied natural gas (LNG) industries, on the other hand, have suffered due to limited pipeline infrastructure and reliance on Western companies. Rystad Energy expects Russian piped gas to China to increase due to new infrastructure, but the outlook for Russian LNG is less rosy. The Kremlin has set an ambitious plan to commission 100 million tonnes of LNG capacity by 2030 but our…

TotalEnergies (NYSE: TTE) saw its first-quarter adjusted net income drop by 22% from a year ago, but the French supermajor’s adjusted earnings beat the consensus estimate. Stable oil prices and healthy refining margins failed to fully offset a decline in natural gas prices, but helped TotalEnergies beat analyst forecasts as it reported Q1 earnings on Friday. The company announced additional share buybacks and an increase in the first interim dividend for 2024. TotalEnergies posted an adjusted net income of $5.1 billion for the first…

TotalEnergies CEO, Patrick Pouyanne, disclosed plans for a potential New York listing during an analyst briefing on Friday, citing the desire to attract a larger share of U.S. investors. With 47% of institutional shareholders and 39% of global investors based in the United States, TotalEnergies (TTEF.PA) aims to strategically position itself within the American financial landscape. While a definitive decision awaits board deliberations, Pouyanne emphasized the importance of adapting to investor preferences, especially in light of market dynamics…

TotalEnergies CEO, Patrick Pouyanne, disclosed plans for a potential New York listing during an analyst briefing on Friday, citing the desire to attract a larger share of U.S. investors. With 47% of institutional shareholders and 39% of global investors based in the United States, TotalEnergies (TTEF.PA) aims to strategically position itself within the American financial landscape. While a definitive decision awaits board deliberations, Pouyanne emphasized the importance of adapting to investor preferences, especially in light of market dynamics…

The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 6 to 613 this week, compared to 755 rigs this same time last year. The number of oil rigs fell by 5 this week, after gaining 5 in the week prior. Oil rigs now stand at 506--down by 85 compared to this time last year. The number of gas rigs fell by 1 this week to 105, a loss of 56 active gas rigs from this time last year. Miscellaneous rigs stayed the same at 2. Meanwhile,…

As governments focus on developing their renewable energy capacity, many are overlooking a vital element to boosting clean energy security –energy waste management. Countries worldwide must fix their existing systems to ensure that energy is not lost in transit and use and that electricity grids are prepared for the influx of new clean energy projects expected over the coming decades.  The founder and chairman of the environmental non-profit organization Solar Impulse Foundation, Bertrand Piccard, is calling for greater focus on reducing…

The Hammerfest LNG export plant offshore Norway is expected to remain offline until Saturday, April 27, following a gas leak earlier this week, according to the latest data from gas infrastructure operator Gassco published on Friday.   The gas treatment plant at Equinor’s Hammerfest LNG, the only large-scale LNG export plant in Europe, was taken offline on Tuesday in an unplanned outage after a gas leak prompted evacuation at the facility. The current assessment provided by Gassco is that the LNG export plant will return online…

The Hammerfest LNG export plant offshore Norway is expected to remain offline until Saturday, April 27, following a gas leak earlier this week, according to the latest data from gas infrastructure operator Gassco published on Friday.   The gas treatment plant at Equinor’s Hammerfest LNG, the only large-scale LNG export plant in Europe, was taken offline on Tuesday in an unplanned outage after a gas leak prompted evacuation at the facility. The current assessment provided by Gassco is that the LNG export plant will return online…