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Annual additions of renewables need to double to 2030 to hit the European Commission’s REPowerEU goals, Håkan Agnevall, president and CEO of Wärtsilä Corp., told S&P Global Commodity Insights March 16. A radical shift in permitting and market design was needed to help deliver an efficient transition away from fossil fuels, he said. “Change begets […]

Asia’s run rates and oil demand will come under pressure in coming months on the back of high oil prices and tight feedstock availability, and the swelling availability of spot Russian cargoes shunned by buyers elsewhere may do little to ease Asia’s pain, speakers at the S&P Global Commodity Insights Asian Refining and Petrochemicals Summit

While offering measured support for the US energy transition, US Senator Joe Manchin said March 11 he was reluctant to support the proliferation of electric vehicles due to their overreliance on foreign supply chains. Speaking during the CERAWeek by S&P Global energy conference in Houston, the West Virginia Democrat pinned his EV anxieties on China,

The European Union and its G7 partners plan to ban the import of key goods in the iron and steel sectors from Russia as part of a fourth wave of sanctions to further isolate Russia and drain the resources used to finance its war in Ukraine, European Commission President Ursula von der Leyen said in

The US will revoke Russia’s most-favored nation status March 11 as part of a new round of economic actions to “squeeze” Russian President Vladimir Putin for the war against Ukraine, President Joe Biden said. “A most-favored nation status designation means two countries have agreed to trade with each other under the best possible terms,” Biden

Most near-term scrap futures contracts on the London Metal Exchange continued to gain over the week to March 10, while the trading volumes also increased to almost a two-year high. S&P Global Commodity Insights’ Platts assessed the March contract up $44.50/mt to $649.50/mt on March 10, while the April contract lost $30/mt to $635/mt. The

Renewable development supply chain challenges are more related to material, component, and installation equipment availability than about cost, experts said during a panel discussion March 10. “I think in 2022 things that have the potential to slow down are less related to price and more about the availability of product,” said J.C. Sandberg, chief advocacy

Nickel trading will not resume on the London Metal Exchange March 11, as previously established criteria has yet to be met to resume trading, the exchange said in an update March 10. The LME suspended the trading of nickel March 8 after prices more than doubled to surpass $100,000 mt — reaching a record high

The global hydrogen economy will need to quickly scale worldwide electrolyzer capacity in order for hydrogen to meet its decarbonization potential, and that scaling may only be achieved by rejiggering electrolysis technology, hydrogen and electrolyzer producers said during the CERAWeek by S&P Global energy conference. According to the International Energy Agency, the world had around

European industrial energy consumer groups – including steel and non-ferrous metals producers – March 9 applauded a new European Commission drive to reduce the EU’s overdependence on Russian fossil fuels “well before 2030” and promote state aid on a temporary basis to companies facing high energy costs. The EC’s REPowerEU initiative, launched March 9 to