greenhouse gas emissions

S-OIL Seals Long-Term Deal to Directly Import LNG with PETRONAS

S-OIL announced on August 25 that it signed an agreement to purchase 700,000 tons of LNG per year from Malaysia’s PETRONAS. The contract will run for 15 years from April of next year to 2033. The signing ceremony was held at the PETRONAS headquarters attended by Osman Al Gamdi, CEO of S-OIL and Datuk Anuar Taib, CEO of PETRONAS Upstream in Kuala Lumpur, Malaysia on August 24. S-OIL decided to directly introduce LNG for the first time to use it as a fuel for new plant operations and a raw material for hydrogen production. “The long-term contract with PETRONAS, Malaysia’s state-owned oil company enables us to enhance the stability of plant operation by securing the stable supply of LNG used as a fuel and a raw material,” S-OIL CEO Al-Gamdi said. S-OIL will boost its p...

US oil industry chief calls for more offshore access

  Washington (AFP) – The US oil industry‘s main lobbyist called Wednesday for expanded offshore oil and gas production, delivering a plea for deregulation two weeks before the inauguration of President-elect Donald Trump. American Petroleum Institute President Jack Gerard said the United States should relax the “regulatory onslaught” the energy industry has seen in recent years — a comment that closely echoes Trump’s position. “Today, 94 percent of federal offshore acreage is off limits to energy production,” Gerard said in prepared remarks at an annual event to outline the state of the industry. “Restricted offshore areas could hold 50 billion barrels, or more, of oil and more than 195 trillion cubic feet of natural gas.” Th...

South Korea Reduced Greenhouse Gas Emissions in 2014

The Office for Government Policy Coordination of South Korea announced on November 24 that South Korea’s greenhouse gas emissions decreased for the first time in 18 years in 2014. Specifically, the amount fell by approximately six million tons to 690 million CO2 equivalent tons between 2013 and 2014. For reference, the amount totaled 656 million CO2 equivalent tons in 2010, 682 million CO2 equivalent tons in 2011, 687 million CO2 equivalent tons in 2012 and 696 CO2 equivalent tons in 2013. The recent decrease can be attributed to an increase in the use of nuclear power plants, which resulted in a decrease in the use of thermal power generation. In 2014, the latter showed a year-on-year decline of 6.9%. The greenhouse gas emissions decreased by 0.6 million CO2 equivalent tons and 0.5 millio...

Paris Agreement on Climate Change Took Effect Early This Month

With the Paris Agreement on Climate Change having become effective on November 4, the South Korean steel and petrochemical industries are predicted to take a hit. The local steel industry is claiming that it has achieved a very high level of energy efficiency through continuous investment and, as such, it is rarely capable of reducing greenhouse gas emissions as of now. According to the State Department of the United States, the energy efficiency of the Japanese, Australian and U.S. steel industries is 104, 106 and 118 when that of the South Korean steel sector is regarded as 100. The South Korean petrochemical industry, in the meantime, is saying that the tighter emissions control will cast a damp over the business conditions that are turning for the better these days. Local petrochemical...

LNG Fuel Not a Solution for Cutting Greenhouse Gas Emissions

In contrast to reports claiming that the use of liquefied natural gas (LNG) as a marine fuel can reduce the industry’s CO2 emissions by 75%, Ian Adams, the former CEO of the International Bunker Industry Association said that LNG is not a panacea to reducing greenhouse gas emissions. “Whilst it is well documented that LNG is an excellent solution for reducing SOx and NOx emissions, I am dismayed to see it being promoted as a solution for reducing GHGs,” Adams said, adding that the increasing use of LNG as a marine fuel could be worse for the environment than burning heavy fuel oil. Adams, a Fellow of the Institute of Marine Engineering, Science & Technology who now heads the Association of Bulk Terminal Operators, said that the energy content of LNG is slightly more than half that of f...

Shipowners call for IMO timeline to reduce greenhouse gas emissions

The International Chamber of Shipping (ICS) has led national shipowner associations in calling on the IMO to develop a timeline against which greenhouse gas emissions from shipping can be reduced. The ICS says the IMO should set a GHG reduction a guideline similar to the Intended Nationally Determined Contributions (INDCs) devised by national governments under the Paris Agreement on climate change. The timeline would assist the implementation of the IMO’s mandatory CO2 reduction regime, which is already in force worldwide and is applicable to the entire world fleet. Shipping is the only industrial sector that has such a regime in place. “We wish to see IMO member states adopt a course similar to that agreed by governments in Paris and which reflects the spirit of the Agreement. This will h...

EPA Ready to Issue Methane Limits for New Oil and Gas Wells

WASHINGTON—The Environmental Protection Agency (EPA) is set to issue on Thursday the first federal standards aimed at curbing methane emissions from the oil and natural gas industry, according to multiple people familiar with the plan. The final regulations, which EPA proposed last year, are the latest in a series of rules the Obama administration is pursuing in a broad agenda clamping down on greenhouse gas emissions from fossil fuels. The rules are one piece of an administration goal to cut methane emissions from the oil and gas industry by as much as 45% from their 2012 levels over the next decade. The rules, which will only affect new oil and natural gas wells, will require companies to install technologies to monitor and limit inadvertent emitting of methane during the production and ...

Obama to Unveil Tougher Environmental Plan With His Legacy in Mind

WASHINGTON — In the strongest action ever taken in the United States to combat climate change, President Obama will unveil on Monday a set of environmental regulations devised to sharply cut planet-warming greenhouse gas emissions from the nation’s power plants and ultimately transform America’s electricity industry. The rules are the final, tougher versions of proposed regulations that the Environmental Protection Agency announced in 2012 and2014. If they withstand the expected legal challenges, the regulations will set in motion sweeping policy changes that could shut down hundreds of coal-fired power plants, freeze construction of new coal plants and create a boom in the production of wind and solar power and other renewable energy sources. As the president came to see the fight against...

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