There is a loophole in the sanctions imposed by EU/G7 countries that prohibit the importation of Russian crude oil and oil products. Third countries not imposing sanctions can import Russian crude, refine it into oil products and legally export them to price cap coalition countries (PCC). An analysis by CREA reveals that €8.5bn of PCC imports of oil products in the 13 months to the end of 2023 were made from Russian crude. Also, in 2023, there … [Read more...]
Europe’s big Hydrogen ambitions won’t deliver. Stick to ammonia-fertiliser, refining, shipping, aviation (maybe later)
Europe’s hydrogen ambitions need a reality check. The EU’s goal to produce and import 20m tonnes of clean hydrogen by 2030 is now widely seen as completely unrealistic, says William Todts at T&E. The business case is not good enough because of the high costs that aren’t coming down as hoped. It’s why only 4% of hydrogen projects get financed. Far better to focus on no regrets, low infrastructure hydrogen applications for ammonia-fertiliser, … [Read more...]