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Climate Action 100+, a lobby group comprising many of the world’s biggest asset managers, has criticized Big Oil majors for falling short of a set of criteria devised to assess a company’s preparedness for a net-zero world. The finding, as detailed in a recent Reuters report, is hardly a surprise since it has been a while since anyone involved in the transition push had a good word to say about the oil industry. However, the timing of this latest attack on the oil industry is notable. Climate Action 100+ is slamming oil and gas…
Two weeks ago, we reported how Artificial Intelligence (AI), cryptocurrency mining and clean energy manufacturing are powering the Fourth Industrial Revolution, or simply 4R, and driving disruptive trends including the rise of data and connectivity, analytics, human-machine interaction, and improvements in robotics. Unfortunately, these secular megatrends are pushing the U.S. power grid to its limits. According to Sreedhar Sistu, vice president of artificial intelligence at Schneider Electric (OTCPK:SBGSF), excluding China,…
India has applied to the International Seabed Authority (ISA) for two new licenses to explore parts of the Indian Ocean sea bed for minerals crucial to the green energy transition. If they are granted, India would hold four contracts, making it the country with the second highest number of active contracts for deep sea mining exploration projects in the world. As Statista's Anna Fleck shows in the following chart, based on ISA data, China currently has five contracts, making it the leading country in terms of contracts for permitted deep sea mining…
The latest green transition move by the U.S. government is to invest in the decarbonisation of hard-to-abate industries. The White House has announced that it will provide funds for companies across several industries to increase the use of renewable energy and clean technologies to power and run plants, aimed at reducing greenhouse gas emissions. It will also incorporate carbon capture and storage (CCS) technology into operations to reduce the CO2 emitted into the atmosphere. This is expected to spur greater private investment in the sector and…
Russia is seeing months of delays in payments for its oil exports as banks in its major trader partners, including China, the UAE, and Turkey, are now scrutinizing transactions wary of the tighter U.S. sanctions, numerous unnamed sources with knowledge of the matter have told Reuters. Russian oil firms are struggling to collect the payments for their exports on time, which in turn delays payments to the Russian budget for use in the war in Ukraine. Even as China, Turkey, and the United Arab Emirates have continued to buy Russian crude and…

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