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Shell to deliver 650 GWh of renewable electricity to Ferrari through 2034, covering nearly half of Maranello’s consumption. Deal supports Ferrari’s target to cut Scope 1 and 2 emissions by 90% by 2030. Agreement reflects Italy’s expansion of corporate PPAs as energy security and cost stability reshape industrial strategy. Shell and Ferrari Strike Long-Term Renewable Power Agreement Shell and Ferrari have signed a decade-long power purchase agreement that will supply the luxury automaker with 650 gigawatt hours of renewable electricity through 2034. The agreement, announced Tuesday, deepens the companies’ long-running partnership and introduces one of Italy’s most substantial corporate PPAs…
Oil prices extended losses early on Tuesday after news broke that Ukraine has mostly agreed to a peace deal, with “minor details” to discuss and settle. As of 8:35a.m. ET on Tuesday, the U.S. benchmark crude futures, WTI Crude, dropped by 1.29% to further slip below $60 per barrel, at $58.08.The international benchmark, Brent Crude, was trading down by 1.23% at $62.59. Prices reacted to reports early on Tuesday that the U.S. plan for peace in Ukraine has received support from Ukrainians. The development added to persistent concerns about an already oversupplied oil market. “The Ukrainians have agreed to the peace deal,” a…
• Air Liquide starts up a 30-ton-per-day ammonia-to-hydrogen cracking unit in Antwerp-Bruges, the first of its kind at industrial scale.• The technology strengthens the feasibility of long-distance hydrogen supply chains by using ammonia as a globally traded carrier.• The breakthrough supports decarbonization for industry and mobility and provides a new pathway to scale low-carbon and renewable hydrogen markets. Antwerp-Bruges advances global hydrogen logistics Air Liquide has started operations at the world’s first industrial-scale ammonia cracking pilot unit, a 30-ton-per-day facility designed to convert ammonia back into hydrogen with commercial efficiency. The launch marks a step forward for producers, policymakers, and…
More than four out of five institutional investors expect the proportion of their investments allocated to sustainable funds to increase over the next two years, citing strong investment performance as the top driver, according to a new survey released by Morgan Stanley, which also found that the vast majority of both asset managers and asset owners increasingly view sustainable investment options as a key driver in awarding investment mandates. For the report, “Sustainable Signals, Institutional Investors 2025,” Morgan Stanley surveyed more than 950 institutional investors across North America, Europe and Asia Pacific, including 664 asset owners and 303 asset managers.…
Shell is boosting its cooperation with Ferrari by signing a ten-year corporate power purchase agreement (CPPA) to supply renewable energy from a Shell-built and operated plant to the iconic Italian luxury carmaker. Shell Energy Italia will provide 650 gigawatt-hours (GWh) over ten years to help decarbonize production at Ferrari’s Maranello factory in Italy. The power supplied by Shell’s Italian unit will be sufficient to cover half of Maranello’s energy needs. Additionally, Shell Energy Italia will also provide renewable energy certificates to cover all of Ferrari’s energy needs in Italy.The agreement is another step toward decarbonizing the Maranello plant, Ferrari’s chief industrial officer, Davide…
The government of India has set the target of $1 trillion by 2040 for the petrochemicals including specialty chemicals.Cabinet Minister of Petroleum and Chemicals Hardeep Singh Puri in one of his addresses in 2024 stated the intention of the government of India targeting a $1 trillion economy of petrochemicals by 2040. Petrochemicals demand is estimated to be about $300 billion in 2025 and expected to rise to about $390 billion in 2030. The next target is to reach $1 trillion by 2040 which is indeed an ambitious target. The 2025 to 2030 target looks lower because of plans either already…
At 12:40 GMT, Light Crude Oil Futures are trading $58.60, down $0.24 or -0.41%. Oversupply Concerns Keep Oil Prices Forecast Tilted Lower The bigger theme in crude oil news today is oversupply. Traders are still watching Ukraine-related headlines, but the market isn’t trading like Russian flows are about to disappear. Russia is already looking to push more barrels into China as sanctions limit options. India — especially private refiners like Reliance — has dialed back purchases of Russian crude to avoid running afoul of sanctions tied to Rosneft and Lukoil. Analysts aren’t sugarcoating the issue: the supply/demand balance for 2026…
Ukraine attacked key Russian key energy infrastructure on the Black Sea for a third time this month just as President Donald Trump cited progress on his peace proposal. “Units of the Defense Forces of Ukraine, in close cooperation, successfully hit the Sheskharis oil terminal in Novorossiysk as well as the Tuapse oil refinery,” Ukraine’s General Staff said on Tuesday in a Telegram statement. The claims could not be independently verified. Russia’s crude-pipeline operator Transneft PJSC which runs Sheskharis, and Rosneft PJSC, which owns the Tuapse plant, did not immediately respond to a requests for comment. Ukraine has intensified its attacks…
In its latest short term energy outlook (STEO), which was released on November 6, the U.S. Energy Information Administration (EIA) revealed that it sees the U.S. Henry Hub spot price averaging $3.90 per million British thermal units (MMBtu) over the winter season, which it pointed out runs from November to March. The EIA also projected in its latest STEO that, during this time, the U.S. Henry Hub spot price will peak in January at $4.25 per MMBtu. In its November STEO, the EIA forecast that the U.S. Henry Hub spot price will average $3.47 per MMBtu overall in 2025 and…
Some Indian banks have started to consider financing Russian oil trades that involve only non-sanctioned entities and sanctions-compliant pricing and payments, Bloomberg reported on Tuesday, citing sources with knowledge of the development. India is steering clear of Russian oil now as the U.S. sanctions on Russia’s top producers and exporters, Rosneft and Lukoil, make Indian refiners wary of handling Russian barrels. Before the latest sanctions on Russian oil trade, India bought from Russia around one third of all the crude it imported, as it sought cheaper oil. Amid tense trade negotiations with the United States, India earlier this year was singled out by…