By Marianna Parraga and Neil Marks Jan 20 (Reuters) - A vessel carrying Guyana's first-ever shipment of crude set sail on Monday bound for the U.S. Gulf Coast, oil major Exxon Mobil Corp said, marking the tiny South American nation's long-awaited debut as an oil exporter. The Suezmax vessel Yannis P, loaded with about 1 million barrels of Liza light sweet crude was bound … [Read more...]
Shipping’s Decarbonization Target Seen Costing At Least $1 Trillion
By Jonathan Saul LONDON, Jan 20 (Reuters) - At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050, a study published on Monday showed. The global shipping fleet, which accounts for 2.2% of the world's CO2 emissions, is under pressure to reduce those emissions and other … [Read more...]
China’s ‘Market Condition’ Caveat on U.S. Agriculture Purchases Adds to Phase 1 Doubts
By Karl Plume and Tom Polansek CHICAGO, Jan 15 (Reuters) - China's pledge to buy U.S. farm goods based on "market conditions" during the Phase 1 trade deal signing ceremony on Wednesday added to doubts among farmers and commodity traders over Beijing's lingering tariffs on U.S. exports. The agreement, meant to reduce tensions after nearly two years of a tit-for-tat tariff … [Read more...]
Shipping Players Look to Cut Carbon Emissions with Ammonia Fuel
By Jonathan Saul LONDON, Jan 15 (Reuters) - A shipbuilder and engine maker are among leading companies looking to develop a vessel that can run on ammonia as part of efforts to speed up carbon reductions in shipping through cleaner fuel options, officials said on Wednesday. The new project aims to design an oil tanker that can be fuelled with ammonia and whose technology can … [Read more...]
China Signs ‘Phase 1’ Trade Deal with United States
WASHINGTON, Jan 15 (Reuters) - The United States and China signed an initial trade deal on Wednesday that will roll back some tariffs and boost Chinese purchases of U.S. products, defusing an 18-month row between the world's two largest economies but leaving a number of sore spots unresolved. Beijing and Washington touted the "Phase 1" agreement as a step forward after … [Read more...]