The US is set to work with Australia with the goal of to cutting the reliance on Chinese materials; the US has also blamed Iran for the oil tanker attacks in Gulf of Oman; Brazilian mining leader ‘Vale’ looks to new safety methods after two dams collapse; Chevron is set to bring IMO-compliant fuel to the market; ADNOC could be opening a trading office in Fujairah and extreme weather temperatures across the globe have boosted energy demand dramatically, meaning climate goals are in serious trouble.
Here is a selection of our top news stories this week:
US and Australia build partnership in the interests of materials: It has been reported the USA and Australia will be joining forces to help countries around the world develop their reserves; including the likes of copper, cobalt and lithium to reduce their reliance on China. Washington has become concerned about its dependence on mineral imports and saw the need for change. The State department said: “Over 80 per cent of the global supply chain of rare earth elements … is controlled by one country. Reliance on any one source increases the risk of supply disruptions.” Please click here to read more
US blames Iran for oil tanker attacks: Mike Pompeo; The US secretary of State has accused Iran of being the force behind the two oil tanker attacks which exploded in the Gulf of Oman. In a statement, he said: “Taken as a whole these unprovoked attacks present a clear threat to international peace and security, a blatant assault on the freedom of navigation and an unacceptable campaign of escalating tension by Iran.” Please click here to read more
‘Vale’ looks at new safety regulations after dam collapse: On Wednesday, Brazilian mining company Vale claimed they had created a new role for an executive director in the healthy and safety field, after a serious disaster occurred in January; in which a dam collapsed and killed hundreds of people, which is now the second accident in a three year period. Please click here to read more
Chevron preparing for IMO-complaint shipping fuel sales: Chevron has big plans to bring an IMO-compliant 0.5% sulfur shipping fuel blend to the market by 2020, the company has announced. Monique Vermeire; Chevron’s Fuels Technologist told Reuters: “If the shipping company is willing to try it out now we can make it available, but not for continuous purchase. I think it will be available (for the market) by the end of the third quarter.” Please click here to read more
ADNOC to open trading office in Fujiairah: Armaco Trading Co. announced that it has purchased an office in Furjairah as part of its plans to expand to boost trade significantly – by up to 50% more than in 2018. This will mean that the company will become one of the world leaders for fuel trading. Please click here to read more
Crazy weather conditions boost the demand for energy but impacts the environment: According to oil trader BP, the intense temperatures around the globe have driven the demand for energy significantly. The goals set for making a change in the interests o global warning have suffered greatly as a result. BP Chief Economist Spencer Dale said: It’s clear we’re on an unstable path with carbon emissions rising at their fastest rate since 2011.” Please click here to read more