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And the nuclear industry must quickly address the issues of cost overruns and project delays that have bedevilled the construction of new plants in advanced economies. Government financing will remain necessary to mobilise new investment, not just for plants but also to develop the latest technologies.
Ford Motor Company and Sollers OJSC have signed agreements to establish a 50-50-owned joint venture in Russia. Ford and Sollers also signed a Letter of Intent with Vnesheconombank (VEB), the Russian development bank, for long-term financing for Ford Sollers of 39 billion Russian roubles, or approximately $1.4
European Commissioner for Internal Market Thierry Breton and European electrolyzer manufacturers last week met in Brussels to discuss how to increase industry’s capacity to produce electrolyzers used to produce clean hydrogen. Today, industry agreed to a tenfold increase in electrolyzer manufacturing capacities in Europe. Background.
Nesscap will use the proceeds from this financing for the establishment of a full-scale production facility for ultracapacitors and accompanying research center in the Russian Federation (US $15,000,000) and for the expansion of Nesscap’s current manufacturing and core R&D operations in Korea and for general corporate purposes (US $5,000,000).
Energy is the foundation of Russia, its economy, its government, and its political system. Even a casual glance at the IMF’s World Economic Outlook statistics for Russia shows the tight correlation since 1992 between GDP growth on the one hand and oil and gas output, exports, and prices on the other (economic series available here ).
In practice, the call for a change is a call for Saudi Arabia and Russia, the two dominant global crude exporters, which each daily export over seven-plus mmbbls (including condensates and NGLs) and which each see the other as the key to any "balancing" moves, to bear the brunt of any production cuts.
The industrialized world brushes these realities under the rug in favor of self-aggrandizing agenda-setting, and, in doing so, engenders critical supply risks and the potential for further environmental degradation. —Baker Institute report Need Nickel?
After Russia began its full-scale invasion of Ukraine in late February 2022, the impacts of reduced global refining capacity were exacerbated. The 650,000 b/d Dangote Industries refinery in Lagos, Nigeria, set to be the largest in the country when completed, may come online in late 2022 or 2023.
Russia’s Rosneft and ExxonMobil signed agreements to implement a long-term Strategic Cooperation Agreement concluded in August 2011 jointly to explore for and to develop oil and natural gas in Russia and to share technology and expertise. Earlier post.). The seismic program is now 70% complete.
We will have our Energy and Finance Ministers, based on their national circumstances, develop implementation strategies and timeframes, and report back to Leaders at the next Summit. The inaugural meeting of the G-20 took place in Berlin, on December 15-16, 1999, hosted by German and Canadian finance ministers.
AlixPartners also estimates that on-going unemployment and underemployment could cost the auto industry up to 1.5 According to the study, historically, approximately one of every five vehicles sold is financed by home-value appreciation, a ratio that’s likely to decrease with the continuing stagnancy in home values.
Western government authorities deemed it an act of sabotage likely arranged by Russia, and called it a new and growing risk for undersea infrastructure. A 2022 road map from the World Bank, the International Finance Corp., Russia allegedly has been gathering information and building such capabilities for at least a couple of years.
a leader in transportation finance. The research report, “2011 Global Aerospace Outlook—Challenges of an Ever-Changing Industry,” prepared in association with Forbes Insights, gathered the views of more than 130 senior airline executives from around the world with fleets of 25 or more jet aircraft. Ever-Changing Industry.
Russia’s richest man, Mikhail Prokhorov, gets a nod of approval from Putin on his new electric car investments. Read more in the article: Putin Backs Russia’s First Electric Car Project. They said Prokhorov was ready to provide project financing for two years. Russia’s first electric car project.
Novatek and Total have approved a final investment decision (FID) for the Yamal LNG project in Russia, consisting of the development of the South-Tambeyskoye gas condensate field and the construction of a natural gas liquefaction plant on the Yamal Peninsula in Western Siberia. billion have already been financed by the shareholders.
Latest research from Specialist Car Finance Experts, Forza Finance , has revealed that BMW is the most popular luxury car brand to finance in 16 of Europe’s 44 countries including the UK & Ireland based on finance rather than sales or units. Mercedes-Benz is most popular in Russia, Czechia and Slovakia.
In addition to the analysis of the current proposals, the report describes a scenario with reductions that would limit global warming to 2 degrees above the pre-industrial level, based on comparable efforts of Annex-I countries. Non-Annex I actions may be (partially) financed by Annex I2.
If half of this flare gas (25 bcm per year) was captured and sold at prevailing domestic prices in Russia, the economic opportunity may exceed US$2 billion (65 billion rubles). Although Nigeria has reduced flare gas emissions by 28% from 2000 levels, the country’s oil industry still wastes 15bcm of natural gas every year.
Groupe Renault has a strong presence across Europe, Russia, Africa and Middle East, while FCA is uniquely positioned in the high margin segments in North America and is a market leader in Latin America. Groupe Renault also has a well-established and profitable financing business (RCI Banque).
drowych, NCBJ) concludes that while small modular reactor (SMR) nuclear power plants (NPPs) might become important for Polish power industry, it is very unlikely that they will ever play a key role as basic electricity source in Poland. A new report published by Poland’s National Center for Nuclear Research (Narodowe Centrum Bada?
Unlike other renewable energy sources, hydrogen can fuel hard-to-decarbonize heavy industrial sectors like steel, heavy transport, and cement. Bloomberg New Energy Finance reports that clean hydrogen could cut up to 34% of global greenhouse gas emissions from fossil fuels and industry.
The most notable new policies include the US “Inflation Reduction Act”, legislation providing more than $369 billion in funding for clean technologies, and the European Union’s REPowerEU plan, which sets ambitious targets to reduce reliance on gas from Russia. Meanwhile, projects face long lead times to finance, develop and commission.
As Europe seeks alternative gas suppliers as the bloc diversifies energy supplies away from Russia over the war in Ukraine, Nigeria—with its vast gas reserves estimated to be above 270 trillion cubic feet (Tcf)—is positioned to expand its supply to Europe.
The entire route lies in Arctic waters and within Russia’s exclusive economic zone (EEZ). Nornickel, the largest industrial company in the Russian Arctic, has unique expertise in operating the Northern Sea Route, a strategic transport artery of the global logistics system. Parts are free of ice for only two months per year.
Bringing developing countries into the carbon markets in order to encourage low carbon development, provide finance and make the most of mitigation opportunities. We would have a seamless system to address forest carbon in both industrialized and developing countries. International climate negotiations can only go so far.
An article in the latest issue of IEA Energy: The Journal of the International Energy Agency reports that Estonia, which has the most developed oil shale industry in the world, is collaborating in pursuing wider use of oil shale in a cleaner, more sustainable manner. Different that shale oil—i.e., Renewable energy is another solution.
The China policy response to assist the commercial-vehicle industry has been broad, with a variety of direct and indirect supports announced, locally and nationally. New financing has also been announced to eliminate high emissions vehicles in key regions which should give some support to boost to truck sales, all else being equal.
October has been billed as a pivotal month in which indebted shale companies would see their credit lines cut, precipitating a faster consolidation in the industry that would sow the seeds of a rebound. Maintaining access to finance can come at a price. by Nick Cunningham of Oilprice.com. rig count has declined by more than half, U.S.
in 2014 as a result of industrial overcapacity and weakness in the real estate sector. million units, aided with increased auto finance penetration, fast dealership expansion and government vehicle scrappage programs. Europe; Russia influences. —Nigel Griffiths, chief automotive economist, IHS Automotive. million units.
In both the United States and Russia, each of which produces roughly as much as Saudi Arabia, output increased in 2015 rather than decreasing, and will continue to increase in 2016 in the U.S. and EU sanctions on Russia, led to the undesirable result for OPEC (and other oil exporters) that Russian exports have increased, from 7.21
Despite low oil prices, Saudi Arabia is maintaining its investment in its oil industry. Of this, the Saudi government will finance $239 billion, while private investors will finance $79 billion, as well as investments in refining (which it does not specify). If You’re a Free Range Oil Producer. James Crandell, a Cowen & Co.
The new reality is a much more challenging future in terms of planning, financing and predictability. The challenge now is to implement gigatonne scale reductions across the economy, in power generation, energy efficiency, transport and industry, as well as REDD+ in forested nations. —PwC report.
At issue is the 2012 expiration of the Kyoto Protocol, a binding but effectively unenforceable 1997 treaty that had set greenhouse gas (GHG) emission reduction targets for 40 industrialized countries, referred to as Annex 1 countries, yielding an average GHG reduction of 5.2%
The US shale oil industry faces an implacable foe in the current crisis: Saudi Arabia. At this point, Saudi Arabia’s currency reserves are roughly equal to the combined market capitalization of the entire US shale oil industry. And ultimately, they are likely to be the ones forced to give ground and cut production.
A combined $19 billion in write-downs was recorded in the last week of October as the oil industry reported third quarter earnings. Spending on deepwater exploration is expected to be cut 20 to 25 percent industry-wide, according to Barclays, substantially higher than the 3 to 8 percent cut for exploration on all varieties of fields.
The 450 Scenario works back from the international goal of limiting the long-term increase in the global mean temperature to two degrees Celsius (2 °C) above pre-industrial levels, in order to trace a plausible pathway to that goal. Potential savings of natural gas alone, at 180 bcm, are close to Russia’s net exports in 2010.
Natural gas has also revitalized several domestic industries and reduced the US trade imbalance. Idle natural gas import terminals are being retooled to export liquefied natural gas to Asia and Europe, which is looking to lessen its dependence on Russia for natural gas.
Winterkorn made the remarks during a presentation at the 17 th Handelsblatt-Jahrestagung in Munich on 3 July, during which he outlined VW’s approach to future mobility in the current context of the economic crisis, pessimism about the industry and technology potential. We have rock-solid finances. Background. possibly the fuel cell.
In April, 46 percent of all mining took place in China, according to data from the Cambridge Centre for Alternative Finance. Many in the industry are expecting this process to play out over a 12 or 18 month period." In a matter of weeks, all that mining capacity went offline.
Volkswagen also intends to play a key role in shaping the major transformation in the industry expected after 2025. In other major markets such as India, South America and Russia, Volkswagen also intends to develop the economy segment. The objective is to achieve a leading role in the new world of mobility by 2030. billion (US$2.65
This will focus on the major fields of future importance in the industry—such as digitalization, networking, e-mobility and new mobility services. million new financing, leasing and service/insurance contracts worldwide, an increase of 2.8% For example, Russia and Brazil remain problematic for all car manufacturers.
The shipping industry has been trying to cut its carbon emissions for years, and with little to show for it. The industry now faces serious pressure to pick up the pace. body that governs the industry, representatives doubled down on carbon-reduction ambitions, setting a net-zero emissions goal for 2050.
With few producers in the graphite industry, graphite consumers enter into long-term bilateral supply agreements with little transparency on prices. In addition, relatively few analysts follow the graphite industry, making it difficult to get any long-term forecasts on graphite prices. Graphite and the Inflation Reduction Act.
News | Markets | Technology | Personal Finance | Small Business | CNN.com RSS Newsletters Video Home Fortune 500 Technology Investing Management Rankings Andy Grove on battery power To wean itself from imported oil, the U.S. must create a strong electric car industry. car industry hinges on cutting-edge battery technology.
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