DIRS.INFO The most relevant business & tech news

"There cannot be any pressure on India to cut down emissions," India's power and renewable energy minister R.K. Singh said on Nov. 30. ASIAN EMISSIONS RISETo be sure, fast-growing Asia, home to half the world's population, accounts for three-fifths of global emissions from power generation, including from sectors exporting goods and services to the west. Despite challenges, Asia, along with Europe and North America, have cut the share of coal in power use, although at a slower pace. Cuts in nuclear power have slowed Europe and North America's fight to reduce emissions, although nuclear's share of their power mix remains well above Asia's. The share of gas in power generation has risen in the West, with the fuel accounting for a shrinking share in Asia.

Persons: Tingshu Wang, R.K, Singh, Hogeveen Rutter, Rutter, ISA's Rutter, Sudarshan Varadhan, Tony Munroe, Sonali Paul Organizations: Huawei, REUTERS, U.S, European Union, North America, International Solar Alliance, Reuters, WEST, North, Institute for Energy Economics, Thomson Locations: Shaanxi, China, Asia, SINGAPORE, America, Europe, India, North America, Paris, North, North America Asia, West Asia, West, Indonesia

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude futures for January were flat at $80.01 a barrel at 0157 GMT, while the U.S. West Texas Intermediate (WTI) crude futures for December were at $75.67, down 7 cents. "The conflict remains well contained within Gaza, despite concerns it would escalate as neighbouring Arab nations show their displeasure." The sense supply disruptions from the Israel-Hamas conflict are easing is occurring as concerns around demand, especially from China, the world's largest oil importer, are rising. Additionally, refiners in China, the largest buyer of crude oil from the world's largest exporter Saudi Arabia, asked for less supply from Saudi Arabia for December.

Persons: Angus Mordant, Brent, WTI, Israel, Sudarshan Varadhan, Christian Schmollinger Organizations: REUTERS, Rights, Brent, U.S . West Texas, ANZ Research, Citi, of, Petroleum, Thomson Locations: Loving County , Texas, U.S, Rights SINGAPORE, Israel, Gaza, China, refiners, Saudi Arabia

SINGAPORE, Oct 27 (Reuters) - Oil prices rose by over $1 on Friday as reports that the U.S military struck Iranian targets in Syria raised concerns of a widening of the Israel-Hamas conflict that could impact supply from the key Middle East producing region. Though the strike did not directly impact supply, it increases fears that the conflict in the Gaza Strip between Israel, backed by the U.S., and Hamas may spread and disrupt supply from major crude producer Iran, which backs Hamas. A wider war could also impact shipments from Saudi Arabia, the world's largest oil exporter, and other large producers in the Gulf. Both Brent and WTI are on track to post their first weekly drop in three weeks as the geopolitical premium built on these fears has ebbed as there has been no disruption of oil supply outside of the immediate region of the fighting. Israeli forces carried out their biggest Gaza ground attack in their 20-day-old war with Hamas overnight, angering the Arab world.

Persons: Brent, WTI, Kelvin Yew, Benjamin Netanyahu, Helima Croft, Goldman Sachs, Florence Tan, Sam Holmes, Christian Organizations: U.S, Brent, U.S . West Texas Intermediate, Islamic Revolutionary Guard Corps, Pentagon, Ocean, Investments, RBC Capital, Thomson Locations: SINGAPORE, Syria, Israel, U.S, Iraq, Gaza, Iran, Saudi Arabia, United States, Hormuz, Russia

A person puts gas in a vehicle at a gas station in Manhattan, New York City, U.S., August 11, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSINGAPORE, Oct 20 (Reuters) - Oil prices extended gains on Friday and were on track for a second week of increases on heightened fears that the Israel-Gaza conflict may spread in the Middle East and disrupt supplies from one of the world's top-producing regions. Both contracts are on track to post a second weekly gain as an explosion at a Gaza hospital this week and the anticipated ground invasion by Israeli troops heightened fears of the conflict spreading in the Middle East. "The prospect of more Venezuela oil did little to ease concerns of disruptions in the Middle East," analysts at ANZ Research said in a note to clients on Friday. Reporting by Florence Tan and Sudarshan Varadhan; Editing by Gerry Doyle and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Tony Sycamore, Yoav Gallant, Sycamore, Florence Tan, Sudarshan, Gerry Doyle Organizations: REUTERS, Rights, Brent, . West Texas, Israel Defence Forces, Israeli, U.S, Pentagon, Strategic Petroleum Reserve, U.S . Department of Energy, Reuters, ANZ Research, Thomson Locations: Manhattan , New York City, U.S, Rights SINGAPORE, Israel, Gaza, Yemen, Saudi Arabia, Russia, United States, Washington, Venezuela, OPEC

SINGAPORE, Oct 17 (Reuters) - Oil prices steadied on Tuesday after a more than $1 slide on Monday amid hopes the U.S. would ease sanctions on producer Venezuela and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas. Both oil benchmarks surged last week on fears the conflict in the Middle East could widen, with global benchmark Brent gaining 7.5% in its highest weekly gain since February. The Biden administration has been seeking ways to increase the flow of oil to world markets to alleviate high prices. But any real oil output increase by Venezuela will take time due to lack of recent investments. Reporting by Sudarshan Varadhan; Editing by Sonali Paul, Muralikumar Anantharaman and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Brent, Nicolas Maduro, Maduro's, Washington, Joe Biden, Biden, Sudarshan Varadhan, Sonali Paul, Muralikumar Anantharaman, Kim Coghill Organizations: Venezuela, U.S, West Texas, U.S ., Organization of Petroleum Exporting, Brent, Hamas, ANZ Research, Thomson Locations: SINGAPORE, U.S, Washington, Israel, Venezuela, Gaza, Iran

SINGAPORE, Oct 17 (Reuters) - Oil prices fell slightly on Tuesday after a more than $1 slide on Monday amid hopes the U.S. would ease sanctions on producer Venezuela and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas. Venezuela's government and opposition are set to resume long-suspended talks on Tuesday that President Nicolas Maduro said would benefit the upcoming 2024 election, a move that could lead to Washington easing sanctions, multiple sources said. The Biden administration has been seeking ways to increase the flow of oil to world markets to alleviate high prices. But any real oil output increase by Venezuela will take time due to lack of recent investments. Reporting by Sudarshan Varadhan; Editing by Sonali Paul and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Brent, Nicolas Maduro, Maduro's, Washington, Joe Biden, Biden, Sudarshan Varadhan, Sonali Paul, Muralikumar Organizations: Venezuela, U.S, West Texas, U.S ., Organization of Petroleum Exporting, Brent, Hamas, ANZ Research, Thomson Locations: SINGAPORE, U.S, Washington, Israel, Venezuela, Gaza, Iran

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. "The worst week for crude since March is starting to attract buyers given the oil market will still remain tight over the short-term," Moya said. "We think that once markets start paying attention to falling global oil stockpiles, Brent oil futures will likely creep back up above $US90/bbl," the Commonwealth Bank of Australia said in a note on Friday. U.S. government data this week showed a sharp decline in U.S. gasoline demand, with economic data showing the U.S. services sector had slowed. "The non-farm payroll data tonight, the US CPI, and China's economic data next week will be key to steering oil's movements.

Persons: Agustin Marcarian, Brent, Bond, Edward Moya, Moya, Tina Teng, Sudarshan Varadhan, Sonali Paul, Stephen Coates Organizations: REUTERS, Rights, U.S, West Texas, JPMorgan, National Australia Bank, Commonwealth Bank of Australia, CPI, CMC Markets, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Rights SINGAPORE, U.S, United States

Expectations of resilient coal demand in China, the world's largest consumer and importer of the fuel, could delay a peak in global coal use, envisaged under climate goals, as miners supply coal for longer at competitive prices, traders say. Six Chinese traders Reuters spoke to said they expected harsh weather to drive overall imports higher in the last quarter of 2023. So I think Chinese demand growth is going to steady at where it is," a seventh trader from a large international trading firm said. It was the first global conference for many Chinese traders whose overseas travel was restricted due to strict Covid restrictions. Echeverri said a fall in average calorific value - an indicator of quality - of domestically mined coal was also contributing to the higher imports.

Persons: Rodrigo Echeverri, Ramli Ahmad, Ombilin Energi, Ahmad, Echeverri, Sudarshan, Ros Russell Organizations: Traders, Indonesia, Noble Research, Thomson Locations: NUSA DUA, Indonesia, China, Bali's Nusa Dua

Asia's hydropower output fell 17.9% during the seven months through July, data from energy think tank Ember showed, while fossil fuel-fired power rose 4.5%. In India, hydropower generation fell 6.2% during the eight months ended August in the sharpest decline since 2016. In some cases, the hydropower output plunge was a result of efforts to conserve water and alter supply patterns. "This trend of rapidly increasing wind or solar power generation in China could push for hydropower playing this critical regulating function, instead of operating whenever there is water," he added. However, unlike hydro, wind power is harder to forecast and control, as it varies by local weather conditions.

Persons: Carlos Torres Diaz, Rystad, Lauri Myllyvirta, Myllyvirta, Ember, Victor Vanya, Sudarshan Varadhan, Jamie Freed Organizations: REUTERS, Rights, National Bureau, International Energy Agency, Centre for Research, Clean Energy, Air, Thomson Locations: Qiaojia, Yunnan province, Ningnan, Sichuan province, China, Rights SINGAPORE, Asia, India, Vietnam, India's, Philippines, Malaysia, Ember

SINGAPORE, Sept 18 (Reuters) - Oil prices rose for a third straight session on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and by optimism about a recovery in demand in China. Traders will be watching decisions and commentary by central banks, including the U.S. Federal Reserve, this week on interest rate policies, as well as key economic data out of China. Saudi Arabia and Russia extended supply cuts to the end of the year as part of the OPEC+ group's plans. Global oil demand growth is on track to hit 2.1 million bpd, ANZ said, in line with forecasts from the International Energy Agency and the Organization of the Petroleum Exporting Countries (OPEC). Reporting by Florence Tan and Sudarshan Varadhan; Editing by Stephen Coates and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Tina Teng, Brent, WTI, Edward Moya, Florence Tan, Sudarshan, Stephen Coates, Sonali Paul Organizations: Brent, West Texas, CMC, Traders, U.S . Federal Reserve, Saudi, ANZ, OANDA, International Energy Agency, Organization of, Petroleum, Thomson Locations: SINGAPORE, Saudi Arabia, Russia, China, OPEC, Ukraine, Russian

SINGAPORE, Sept 18 (Reuters) - Oil prices rose for a third straight session on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery in China, the world's top crude importer. Brent crude futures rose 39 cents, or 0.4%, to $94.32 a barrel by 0253 GMT while U.S. West Texas Intermediate crude futures were at $91.30 a barrel, up 53 cents, or 0.6%. Traders will be watching decisions and commentary by central banks, including the U.S. Federal Reserve, this week on interest rate policies, and key economic data out of China. Global oil demand growth is on track to hit 2.1 million bpd, ANZ said, in line with forecasts from the International Energy Agency and the Organization of the Petroleum Exporting Countries (OPEC). Reporting by Florence Tan and Sudarshan Varadhan; Editing by Stephen Coates and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsSINGAPORE, Sept 15 (Reuters) - Oil prices rose on Friday and are set for a third weekly gain, as better-than-expected Chinese economic data and reports of record oil consumption bolstered the view that demand in the world's second-largest crude consumer will continue to surge. Brent crude futures rose 62 cents, or 0.7%, to $94.32 as of 0249 GMT, while the U.S. West Texas Intermediate crude (WTI) was up 71 cents, or 0.8%, at $90.87. China's industrial output and retail sales grew at a faster-than-expected rate in August, suggesting that the recovery of the world's second-largest economy from the COVID-19 pandemic is stabilising. The International Energy Agency said this week it expects Saudi Arabia's and Russia's extended oil output cuts to result in a market deficit through the fourth quarter.

Persons: Agustin Marcarian, Edward Moya, Brent, WTI, Sudarshan Varadhan, Christopher Cushing Organizations: REUTERS, Rights, Brent, U.S . West Texas, National, International Energy Agency, Saudi, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Rights SINGAPORE, U.S, OANDA, China, Russia, Saudi Arabia

REUTERS/Adnan Abidi/File Photo Acquire Licensing RightsCompanies Coal India Ltd FollowSINGAPORE, Sept 4 (Reuters) - India has stepped up the use of coal to generate electricity in a bid to stop outages caused by lower hydroelectricity output, and as an increase in renewables is struggling to keep pace with record power demand. Demand typically peaks in May, when Indians crank up air-conditioners to beat the heat, and industries operate without rain-related disruptions. Coal's share in power output rose to 66.7% in August - the highest for the month in six years, according to a Reuters analysis of government data. The government has repeatedly defended the use of coal citing lower per capita emissions compared with richer nations, and rising renewable energy output. India's peak demand - the maximum capacity required during any time of the day - rose to a record 243.9 gigawatts (GW) on Aug. 31, the Grid India data showed, exceeding available capacity by 7.3 GW.

Persons: Adnan Abidi, Sudarshan, Robert Birsel Organizations: REUTERS, Companies Coal India, India, Grid, Thomson Locations: Delhi, India, China

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. CMC markets analyst Tina Teng said a soft-landing scenario for the U.S. economy buoyed energy markets on Monday, despite the Federal Reserve's hawkish stance on rate hikes. That "should see some short term support for the oil price", he said. Oil prices have remained above $80 a barrel on support from falling oil inventories and supply cuts from the OPEC+ collective of oil producers. Reporting by Florence Tan and Sudarshan Varadhan; Editing by Christopher Cushing and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Chen Aizhu, Baker Hughes, Brent, WTI, Jerome Powell, Tony Sycamore, Sycamore, Tina Teng, Idalia, Florence Tan, Sudarshan, Christopher Cushing, Clarence Fernandez Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, U.S, West Texas, IG, PMI, CMC, Federal, ANZ Research, Thomson Locations: China, Dalian, Liaoning province, SINGAPORE, U.S, United States, Caribbean, Florida, Gulf, OPEC, Iran, Venezuela

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. REUTERS/Chen Aizhu/File Photo Acquire Licensing RightsCompanies Baker Hughes Co FollowSINGAPORE, Aug 28 (Reuters) - Oil prices were marginally lower on Monday as investors stayed fretful over the pace of economic growth in China, and the prospect of further U.S. interest rate hikes that could dampen fuel demand. Oil rose in early Asian trade before paring gains, as China's move to halve stamp duty on stock trading to boost struggling markets temporarily pushed up prices. In the United States, energy firms cut the number of active oil rigs for a ninth month in August, Baker Hughes said in a report. Reporting by Florence Tan and Sudarshan Varadhan; Editing by Christopher Cushing and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS/File Photo Acquire Licensing RightsCompanies United States of America FollowSINGAPORE, Aug 18 (Reuters) - Oil prices looked set to snap a seven-week winning streak on Friday as concerns about China's slowing economic growth and the possibility of more U.S. interest rate hikes outweighed signs of tightening supply. Investors fret that higher borrowing costs could impede economic growth and in turn reduce overall demand, including for oil. Data released this week also showed that U.S. crude oil inventories fell by nearly 6 million barrels last week on strong exports and refining run rates. Despite recent economic weaknesses, China made a rare draw on crude oil inventories in July, the first time in 33 months it has dipped into storage.

Persons: Brent, Sudarshan Varadhan, Shri Navaratnam, Jamie Freed Organizations: REUTERS, Companies United, U.S . West Texas, U.S, Federal, U.S . Labor Department, Organization of, Petroleum, ANZ Research, ANZ, Thomson Locations: Zhoushan, Zhejiang province, China, Companies United States, America, SINGAPORE, U.S

An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. The U.S. Federal Reserve's focus on containing inflation amid stronger-than-expected economic data was keeping a lid on oil prices. That report followed similarly upbeat economic data earlier in the week, including U.S. retail sales, which all suggested the Fed may have to stick with higher rates for longer. Adding to the concerns, a recent batch of economic data from China, the world's second largest oil consumer, has highlighted the rapid loss in economic momentum there since the second quarter. However, China made a rare draw on crude oil inventories in July, the first time in 33 months it has dipped into storage.

Persons: Brent, Sudarshan, Shri Navaratnam Organizations: REUTERS, Rights, U.S . West Texas, U.S, Federal, U.S . Labor Department, Thomson Locations: Zhoushan, Zhejiang province, China

An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. Brent crude futures were up 8 cents, or 0.1%, at $83.53 a barrel by 0245 GMT, after initially falling 0.5%. Higher interest rates increase borrowing costs for businesses and consumers, which could slow economic growth and reduce oil demand. "Crude prices are going to struggle here as we have bearish sentiment in the world's two largest economies," said Edward Moya, an analyst at OANDA. Reporting by Katya Golubkova; Editing by Sonali Paul and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Tina Teng, Teng, Edward Moya, Katya Golubkova, Sonali Paul, Muralikumar Organizations: REUTERS, Rights, Brent, U.S . West Texas, CMC Markets, Traders, U.S, U.S . Federal, OANDA, Thomson Locations: Zhoushan, Zhejiang province, China, U.S, OPEC, China's, U.S .

REUTERS/Christian Hartmann/File PhotoSINGAPORE, Aug 3 (Reuters) - Oil prices were little changed on Thursday after a two-day decline, including a sharp drop on Wednesday, as a U.S. government credit downgrade weighed on sentiment, though concerns around supply tightness provided some support. Ratings agency Fitch downgraded the main U.S. credit rating, the world's biggest oil consumer, reflecting an expected fiscal deterioration as well as a high and growing government debt burden. Both benchmarks were trading near their highest since April on Wednesday, but closed down 2% after the ratings downgrade. "Since oil had a steady rise over the past month, it was ripe for a pullback. The oil market will remain tight over the short-term, but prices could be still vulnerable for a deeper drop," said Edward Moya, an analyst at OANDA.

Persons: Christian Hartmann, Fitch, Brent, Edward Moya, refiners, Tina Teng, Andrew Hayley, Sudarshan, Christian Schmollinger, Kim Coghill Organizations: REUTERS, Brent, U.S, West Texas, Energy, Administration, Organization of, Petroleum, Reuters, CMC Markets, Thomson Locations: Scheibenhard, Strasbourg, France, SINGAPORE, U.S, Saudi Arabia, China

Pakistan paid for its first Russian crude cargo in Chinese yuan. "How will it pay other lenders and how will it finance trade with China if it uses the low yuan reserves to pay for Russian oil?" However, Urals quality is a deterrent, as Pakistan's refineries cannot get as much gasoline and diesel out of Urals crude as they produce from Saudi and UAE crudes. Kpler's Katona expects Pakistan's liquidity issues and technical challenges to weigh on its appetite for Russian crude. "Russian imports into Pakistan will not grow into anything bigger than one cargo per month," he said.

Persons: Shahbaz Ashraf, Aadil Nakhoda, Nakhoda, Viktor Katona, Zahid Mir, Mir, PRL, Kpler's Katona, Ariba Shahid, Charlotte Greenfield, Florence Tan, Sonali Paul Organizations: Pakistan, United, FRIM Ventures, Karachi's Institute of Business Administration, Saudi, Pakistan Refinery Ltd, Reuters, Thomson Locations: KARACHI, Pakistan, Ukraine, Russia, Saudi Arabia, United Arab Emirates, Islamabad, Moscow, China, PORT, Oman, Saudi Arab, Saudi, UAE, Karachi, Sudarshan, Singapore

SINGAPORE, July 27 (Reuters) - Canada will likely publish the final regulations of a plan to cap and cut greenhouse gases from the oil and gas sector by mid-2024, its environment minister told Reuters on Thursday. Canada, the world's fourth-largest oil producer, lags many global peers in tackling emissions. Prime Minister Justin Trudeau's government sees the cap as a key element to enforce a sharp reduction in pollution from the oil and gas sector, responsible for 27% of the country's emissions. The cap, which envisions limits on emissions or potentially raising the carbon price to incentivise driving down emissions, was first promised in Trudeau's 2021 election campaign. So some CCS probably in the electricity sector," Guilbeault, a former Greenpeace activist, said.

Persons: Steven Guilbeault, Justin Trudeau's, Guilbeault, it's, Sudarshan Varadhan, Susan Fenton, Bernadette Baum Organizations: Reuters, Glasgow Climate, CCS, Greenpeace, Thomson Locations: SINGAPORE, Canada, Trudeau's, Glasgow

Summary China to step up policy adjustments amid tortuous recoveryPOLL-US crude, product inventories seen down last weekComing up: API data on U.S. crude stocks at 4:30 p.m. ETJuly 25 (Reuters) - Oil prices edged higher for the third straight session on Tuesday, as signs of tighter supplies and pledges by Chinese authorities to shore up the world's second-biggest economy lifted sentiment. Still, bearish data in the euro zone and U.S. underlined weakness across the global economy. Later on Tuesday, industry data on U.S. crude inventories is expected. Four analysts polled by Reuters estimated on average that crude inventories fell by about 2 million barrels in the week to July 21.

Persons: Brent, Edward Moya, Jerome Powell, Christine Lagarde, Stephanie Kelly, Shri Navaratnam, Stephen Coates Organizations: U.S, West Texas, Organization of, Petroleum, Energy, OANDA, Fed, European Central Bank, ECB, Reuters, Thomson Locations: China, Russia, OPEC, U.S

BAMBOLIM, India, July 22 (Reuters) - The Group of 20 (G20) major economies meeting in India failed on Saturday to reach consensus on phasing down fossil fuels following objections by some producer nations. The G20 member countries together account for over three-quarters of global emissions and gross domestic product, and a cumulative effort by the group to decarbonise is crucial in the global fight against climate change. A joint communique is issued when there is complete agreement between member nations on all issues. A draft late on Friday reviewed by Reuters read: "The importance of making efforts towards phase down of unabated fossil fuels, in line with different national circumstances, was emphasized." Singh, in a press briefing after the conference, said some countries wanted to use carbon capture instead of a phase down of fossil fuels.

Persons: R.K, Singh, Sudarshan Varadhan, Nidhi Verma, William Mallard, Andrew Cawthorne Organizations: Power, Reuters, Thomson Locations: BAMBOLIM, India, China, United States, Bambolim, Goa, Ukraine, Saudi Arabia, Russia, South Africa, Indonesia

BAMBOLIM, India, July 22 (Reuters) - A draft statement by Group of 20 energy officials was edited on Saturday to reflect concerns from some members on phasing down "unabated" fossil fuels, according to documents reviewed by Reuters and two people familiar with the matter. A draft late on Friday read: "The importance of making efforts towards phase down of unabated fossil fuels, in line with different national circumstances was emphasized." On Saturday, the draft added: "Others had different views on the matter that abatement and removal technologies will address such concerns." The phrase "abatement and removal technologies" refers to carbon capture and removal technologies, one source said. G20 chair statements are typically edited multiple times before a final version is presented at the end of a conference.

Persons: Indian Electricity Minister R.K, Sudarshan Varadhan, Nidhi Verma, William Mallard Organizations: Reuters, Indian Electricity Minister, Thomson Locations: BAMBOLIM, India, Saudi Arabia, Russia, New Delhi, Goa, Singh

Companies BTA 2012 Private Placement Program FollowBAMBOLIM, India, July 21 (Reuters) - Major fossil fuel producers, including Saudi Arabia and Russia, on Friday opposed a proposal to triple G20 countries' renewable energy capacity by 2030, three sources said. India, as current holder of the G20 presidency, took a neutral stand on the issue, said the sources - two of whom attended the G20 meeting. One of those sources said Russia and Saudi Arabia declined to accept targets on increasing non-fossil capacity or deadlines to add renewable energy on the grounds natural gas is a critical part of their energy mix. Some members sought for the phrase "low-carbon hydrogen" to be adopted, rather than "green hydrogen," the sources said. While green hydrogen is produced using renewable energy, "low-carbon hydrogen" could include hydrogen produced using gas, which is less carbon intensive than coal.

Persons: Sarita Chaganti Singh, Barbara Lewis Organizations: Reuters, International Energy Agency, Energy, European Union, West, Thomson Locations: India, Saudi Arabia, Russia, China, South Africa, Indonesia, Goa, New Delhi, Ukraine, Germany, United States, Bambolim

Search resuls for: "Sudarshan Currently Reports On The Evolving Energy Landscape In Asia"

25 mentions found