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Countries representing over half of global GDP have launched a package of measures at the UN Climate Change Conference in Egypt to speed up decarbonization in power, road transport and steel, scale up low-carbon hydrogen and accelerate a shift to sustainable agriculture. The actions agreed under the “Breakthrough Agenda” established at COP27 in Glasgow in […]

The global oil market has witnessed the mushrooming of smaller trading firms who are moving Russian oil much longer distances to regions like Asia in older ships, potentially raising the risk of shipping errors and accidents, Trafigura CEO Jeremy Weir told the Financial Times Live conference Nov. 23. Following the start of the Russia-Ukraine conflict,

Global crude steel production totaled 147.3 million mt in October, stable year on year, but down 2.9% from September to an eight-month low, according to World Steel Association data published Nov. 22. This brought total production for the first 10 months of 2022 to 1.55 billion mt, down 3.9% on the year. China produced 79.8

The latest auction price of Pilbara Minerals’ spodumene and supply tightness in the domestic market is expected to keep Chinese lithium chemicals prices at elevated levels in the near term. However, prices are starting to lack momentum for a further increase as downstream consumers show less buying interest at current levels, market sources said. Platts,

Stelco expects weaker demand trends in the North American steel market to persist through the end of the year, but an upturn could occur as early as the first quarter next year, CEO Alan Kestenbaum said Nov. 16. “The macroeconomic statistics definitely show that there would be weakening demand,” Kestenbaum told analysts during Stelco’s third

The EU must be careful of its developing battery industry becoming critically dependent on external sources, according to the European Commission Policy Officer, Innovation, Research, Digitalisation, Competitiveness. “We have to be careful that we get all our value chains to speed as fast as this transition is happening, because batteries will be increasingly important,” Jens

A wave of low-carbon projects is building in the Middle East as the region’s energy and chemical companies push to achieve their government-prescribed net-zero goals by 2050. Many of the Middle East’s multibillion-dollar, low-carbon developments — including blue- and green hydrogen and ammonia projects — as well as major petrochemical programs will be funded by

Saudi Arabia has set its sights on becoming a global supplier of renewable and low-carbon hydrogen, configuring production standards to meet market requirements in both Europe and the Asia-Pacific region, the energy ministry’s head of hydrogen, Zeid al-Ghareeb, said at the UN Climate Change Conference in Egypt Nov. 15. Hydrogen would be a key part

The polymerization catalysts market, worth about $9.8 billion, accounted for more than half the entire chemical-processing catalysts market in 2021, according to the Catalysts, Petroleum, and Chemical Process report published recently by S&P Global’s Specialty Chemicals Update Program. Polyolefin catalysts formed the largest polymer-catalyst market sector, valued at about $5 billion, the report said. Demand

Steelmaker Liberty Steel, part of the GFG Alliance, has reached an agreement to restructure its global debt with some of its main creditors, although it is still negotiating debt restructuring for its European business, it said Nov. 15. The group has signed a term sheet with parties responsible for the main creditors of Greensill Capital,