Topsoe and Fidelis new energy form carbon neutral hydrogen technology alliance

Topsoe and Fidelis new energy form carbon neutral hydrogen technology alliance

MOSCOW (MRC) - Topsoe and Fidelis New Energy, LLC have entered into a global alliance for technology used for producing carbon neutral hydrogen, said the company.

The alliance pairs Topsoe’s hydrogen process portfolio with FidelisH2™ technology for reduction of lifecycle carbon emissions in hydrogen production. Combined, the alliance solution enables the production of hydrogen from natural gas with a lifecycle carbon intensity of 0 kgCO2e / kgH2.

Producing decarbonized products, materials, and fuels through proven technologies such as the Topsoe Blue Portfolio and FidelisH2 is a critical contribution to decarbonizing carbon intense sectors of society, including industry, digital infrastructure, agriculture, energy, and transportation. Topsoe and Fidelis are dedicated to continue to play their roles in this important endeavor to accelerate the energy transition and to join forces to provide an offering for life cycle carbon neutral hydrogen utilizing renewables and natural gas.

Fidelis and Topsoe will jointly and exclusively license FidelisH2™ alongside Topsoe’s blue hydrogen technology portfolio. Topsoe will lead engagement with potential licensees interested in utilizing FidelisH2™ to produce carbon neutral hydrogen at world scale using proven technologies.

Henrik Rasmussen, Managing Director, The Americas, Topsoe, said “This is an exciting partnership to lead the way to achieve net-zero in 2050. I look forward to working with Fidelis in setting the bar high regarding transitional energy technologies. With this alliance, we can offer clients across all industrial sectors , a proven and exceptional carbon neutral hydrogen solution."

Co-Founder and CEO of Fidelis, Dan Shapiro, said “We are excited to partner with Topsoe, the leading provider of hydrogen production technology and catalysts. After several years of work with Topsoe leadership, catalysts, and technologies, we are pleased to formally join forces with them through this Global Alliance Agreement to deliver carbon neutral hydrogen produced from Topsoe’s Blue Portfolio and the innovative and novel FidelisH2™ process."

Fidelis Co-Founder and COO, Bengt Jarlsjo added, “We look forward to deploying FidelisH2™ across our future projects and to providing other select users a path to zero carbon intensity clean hydrogen utilizing certified natural gas and renewable energy.”

Topsoe’s industry leading hydrogen process portfolio includes both steam methane reforming and SynCOR™ autothermal reforming solutions to produce hydrogen with integrated carbon capture. FidelisH2™ is a proprietary solution for incorporation of renewable energy into reforming processes to achieve clean hydrogen production. The novel integration of these proven technologies offered through the alliance provides a scalable solution well suited for generating valuable climate and environmental incentives such as the 45V tax credits provided in the United States Inflation Reduction Act of 2022.

We remind, Topsoe to move ahead on setting up solid oxide electrolyser plant in Denmark, said the company.
Topsoe has announced that its board has approved the final investment decision (FID) to start the construction of the "world's largest" solid oxide elctrolyser cell (SOEC) electrolyser manufacturing plant in Herning, Denmark.
The plant will have a production capacity of 500 MW/y with an option to expand to 5 GW. Construction of the plant will start in 2H 2022.

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Vietnam largest refinery to fix leaking RFCC unit by January 15

Vietnam largest refinery to fix leaking RFCC unit by January 15

MOSCOW (MRC) -- Vietnam's largest oil refinery will complete repairs needed to fix a technical problem at its residual fluid catalytic cracking (RFCC) unit by Jan. 15, two refinery sources said Reuters.

The 200,000-barrel-per-day Nghi Son Refinery and Petrochemical had a leak at the RFCC unit, the government said on Friday, adding the problem would reduce the refinery's output by 20%-25%.

Nghi Son, which provides more a third of Vietnam's petroleum needs, is one of only two oil refineries in the country.

"We will restart the unit immediately after," one of the sources said of the repairs, declining to be named because they were not authorized to speak to media. Reuters first reported the unit's shutdown late last month.

"The refinery will operate at 100% to 110% of its capacity to compensate for the shortfall," the same source added. The information was confirmed by a second source.

We remind, the output from Vietnam's largest oil refinery is expected to fall by 20%-25% during the first 10 days of January as its residual fluid catalytic cracking (RFCC) unit has been shut down due to a technical problem. The 200,000-bpd Nghi Son Refinery and Petrochemical has a leak at the RFCC unit, the government said in a statement.

Nghi Son refinery is 35.1% owned by Japan's Idemitsu Kosan Co, 35.1% by Kuwait Petroleum, 25.1% by Vietnam's state oil firm PetroVietnam and 4.7% by Mitsui Chemicals Inc.

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Green industries could be worth USD10.3 T to economy by 2050

Green industries could be worth USD10.3 T to economy by 2050

MOSCOW (MRC) -- Industries helping the world shift to net-zero emissions could be worth USD10.3 T to the global economy by 2050, sustainable development consultancy Arup and economics advisory firm Oxford Economics said in a report on Tuesday, as per Reuters.

From heatwaves to floods, extreme weather events are not only costly but increasingly causing upheaval across the globe, pushing governments and industries to seek to cut greenhouse gas emissions and mitigate climate change.

"As economists, we have to be honest about the fact that mitigating climate change will be expensive," Oxford Economics' Chief Executive Adrian Cooper said in a statement. "But the transition to a carbon-neutral global economy also presents compelling opportunities."

The analysis showed emerging new markets for carbon-neutral goods and services that help reach the Paris Agreement net-zero target will be worth USD10.3 trillion, or about 5% of projected gross domestic product (GDP), by mid-century.

"This includes the direct contribution to GDP of electric vehicles manufacturing, renewable power generation, clean energy equipment manufacturing, renewable fuels and green finance; plus the activity supported across global supply chains," the report stated.

It also showed, as industries shift to clean power amid a global energy supply crisis, that resulting disruptions will create new competitive opportunities for companies able to adapt quickly to changing demands.

Arup and Oxford Economics found the green transition would lead to substantial productivity gains from climate change mitigation compared to "a world in which climate change has been left unchecked, or poorly tackled".

A scenario analysis by Oxford Economics suggested a failure to act could damage global GDP by around 5% by 2050. In 2021, it said the cost of weather-related interruptions to economic activity had already reached USD233 B.

"This report shows the green transition is not a burden on the global economy, but a substantial opportunity to bring about a greater and more inclusive prosperity," Arup Global Strategy Skills Leader Brice Richard said.

We remind, from the moment Russian gas exports to Germany were first disrupted in June, German firm Kelheim Fibers began casting around for alternative options to keep its engines running. As a result, the Bavarian-based firm, whose fibers are used in anything from teabags to tampons, will be able to use heating oil instead of gas starting mid-January. The downside is that will increase carbon emissions and for the longer term, the firm is considering a switch to hydrogen, which is a much cleaner energy source provided it is produced using renewable power.

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Sika exceeds sales of CHF10 bn

Sika exceeds sales of CHF10 bn

MOSCOW (MRC) -- Sika performed well against an increasingly difficult economic backdrop and – with CHF 10.49 billion in sales – the company exceeded the CHF 10 billion mark for the first time, said the company.

This corresponds to a substantial increase of 15.8% in local currencies compared to the previous year. The currency effect came to –2.4%, with the softening US dollar and the continued weak euro particularly impacting this development. The acquisition effect was 2.5%.

Rising raw material prices around the globe were a prominent feature of 2022, as was a deceleration in the construction sector in the second half of the year, which was mostly due to high inflation and associated interest rate hikes. Sika was able to raise prices for products and solutions accordingly, and also made use of targeted growth opportunities. Overall, the global construction sector is being shaped by several megatrends including climate change, automation, digitalization, as well as demand for easy-to-apply products. With its broad product portfolio, Sika is ideally positioned to offer its customers technologies that allow them to reduce their carbon footprint while facilitating long-lasting, resource-efficient construction. In addition, Sika is benefiting from global, state-driven economic support programs that are fueling infrastructure expansion.

The EMEA region (Europe, Middle East, Africa) reported a sales increase in local currencies of 8.3% in 2022 (previous year: 16.1%). Sika’s distribution business, which includes product distribution via home improvement stores, builders’ merchants, and online platforms, saw a decline in volume. The extraordinarily high demand during the COVID-19 pandemic normalized again, moving back into line with pre-pandemic years. In contrast, volumes in the project business, which accounts for around 60% of sales in the region, witnessed only a slight drop. Economic stimulus programs and substantial investments in the transition of the energy sector support Sika’s business activities even in declining markets. The region’s strongest growth rates were recorded in the countries in Africa and the Middle East, which once again achieved double-digit sales growth.

Sika moved to a new site in the East African country of Tanzania in 2022, and is now manufacturing mortar products in Dar es Salaam on top of concrete admixtures. It also extended its facility in Western Africa’s Ivory Coast. This site is now double its previous size, enjoying not only additional manufacturing facilities but also new warehousing capacities, office space, and laboratories.

The Americas region recorded growth in local currencies of 27.5% (previous year: 21.0%). Sika generated a large part of this growth from projects in the US infrastructure segment, which saw siginifcantly higher activity in 2022 compared to the previous year. Construction work focused on the modernization and expansion of subway lines, bridges, tunnels, and freeways. High demand also stemmed from investments in commercial construction projects, including stadiums and data centers. In addition, the USA is investing heavily in reshoring, which involves bringing industrial know-how back to the United States from Asia and constructing new manufacturing plants. This opens up new business opportunities for Sika. Construction activity in large parts of the US was affected by the severe winter storms in December, which also disrupted the deliveries of some Sika products.

We remind, Sika is opening a new plant for liquid membranes and mortar production in Chongqing, a city in southwestern China with 30 million inhabitants. By commissioning the new plant, Sika is expanding its position in this rapidly growing metropolitan area, which is set to become even more important as China is creating the Chengdu-Chongqing business district with almost 100 million inhabitants.

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Chevron first cargo of Venezuelan oil after license departs to U.S.

Chevron first cargo of Venezuelan oil after license departs to U.S.

MOSCOW (MRC) -- Chevron Corp's first cargo of Venezuelan crude after a U.S. license received in November has departed from a ship-to-ship transfer hub near Aruba to its Pascagoula, Mississippi refinery, according to shipping data seen by Reuters.

Chevron received authorization last year from the U.S. Treasury Department to revive oil output and expand operations in Venezuela as part of Washington's efforts to encourage political dialogue towards a presidential election in the South American nation.

State-run oil company PDVSA allocated Chevron the first crude cargo this month, which was loaded at Venezuela's Jose terminal last week, according to shipping data and documents.

Chevron's tanker Caribbean Voyager this week transferred the 500,000-barrel cargo of Hamaca heavy crude it had loaded in Venezuela to Malta-flagged vessel Sealeo at a ship-to-ship hub near the Caribbean island of Aruba, Refinitiv Eikon tanker monitoring data showed.

The Sealeo is scheduled to arrive in Chevron's Pascagoula refinery on Jan. 15, according to the Eikon data. A separate Venezuelan crude cargo chartered by Chevron on tanker Kerala was on Tuesday at Maracaibo Lake's navigation channel, where lack of dredging and a stranded vessel are creating limitations for ship transit.

Chevron confirmed shipping activities in Venezuela commenced this month and said the company is focused on "operating safely and reliably" after restarting operations at its affiliated joint ventures in December.

"We continue to conduct our business in compliance with all laws and regulations where we operate, as well as the sanctions framework provided by the U.S. Office of Foreign Assets Control," it added in a release to Reuters.

We remind, Chevron Corp plans to export this month its first cargo of Venezuelan crude to its Pascagoula, Mississippi refinery following a U.S. license granted last year. The 500,000-barrel cargo of Hamaca heavy crude, to be loaded at state-run PDVSA's Jose port, comes from the Petropiar oil joint venture operated by both companies.

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