Fuel

Nearly 200 nations meeting in Dubai on Wednesday approved a first-ever call for the world to transition away from fossil fuels, the top culprit of climate change behind a planetary crisis.

After 13 days of talks and another sleepless night in a country built on oil wealth, the Emirati leadership of the COP28 summit banged a gavel to signal the world had reached consensus.

A draft U.N. climate deal called Wednesday for the world to transition away from fossil fuels, in a last-ditch bid to break a deadlock between nations seeking a phase-out from oil, gas and coal and Saudi-led crude producers.

More than 20 countries called for the tripling of world nuclear energy capacity at UN climate talks on Saturday as part of efforts to achieve net-zero emissions by 2050.

A declaration endorsed by nations ranging from the United States to Ghana to Japan and several European countries said nuclear energy plays a "key role" in reaching the goal of carbon neutrality.

The head of the upcoming COP28 climate summit, who also is the chief executive of the UAE's national oil company, has acknowledged that a reduction in the use of fossil fuels is inescapable.

"The phase down of fossil fuels is inevitable," Sultan al-Jaber said on the sidelines of technical climate talks on June 8 six months ahead of the summit.

ReCatalyst, a company which has developed a next-generation hydrogen fuel cell catalyst, has been declared the Slovenian startup of the year.

The company's innovative solution helps significantly reduce production costs while also being more environmentally friendly and contributing to decarbonisation.

The National Assembly has passed a law paving the way for a significant expansion of infrastructure for alternative fuels and a faster uptake of electric vehicles.

Described by the government as a keystone green transition act, the legislation sets out to introduce a dense publicly accessible network of refuelling and supply infrastructure for alternative fuels in transport.

When the Biden administration greenlighted the $8 billion Willow oil project on Alaska's North Slope last month, many decried the move as a betrayal of the United States' pledge to move away from fossil fuels in the fight against climate change.

Shell net profit surged to a record $42.3 billion last year, the British energy giant said yesterday, as Russia's invasion of Ukraine sent oil and gas prices soaring.

In November 2022, compared to the previous month, a large increase in the production of energy products was observed in Bulgaria - by 31.1%, and the largest decrease was registered in unleaded gasoline - by 13.0%.

The phrase “outside the scope of the fleet standards” is being interpreted by commentators as an allowance for specialty vehicles to use CO2 neutral fuels