- Global Energy Infrastructure
Oil prices rose as renewed global supply concerns from Russia's fuel export ban counteracted fears that slowing economies and high interest rates could crimp demand.
Asia/Pacific / Economics / Crude oil / Natural Gas / Gasoline / Diesel / Environment / Greenhouse Gases
The complete phasing-out of fossil fuels is not realistic, China's top climate official said, adding that these climate-warming fuels must continue to play a vital role in maintaining global energy security.
Russian wholesale gasoline Ai-92 grade prices fell by 9.7% to $582 per metric ton, according to exchange data, following a government ban on fuel exports.
Russia cut its seaborne diesel and gasoil exports by nearly 30% to about 1.7 million metric tons in the first 20 days of September from the same time in August, as local refineries went into seasonal maintenance and the domestic market faces a fuel shortage and rising prices.
Russia has introduced temporary restrictions on exports of gasoline and diesel in order to stabilize the domestic market.
Industrial companies in the Netherlands get $42-49 B in tax breaks and subsidies annually for using fossil fuels, the Dutch government said in a report aimed at spurring international debate on such subsidies.
Britain will push back a ban on new petrol and diesel cars and vans to 2035 from 2030, Prime Minister Rishi Sunak said, adding that the cars would still be available to buy on the secondhand market thereafter
China's fuel oil imports retreated for a second consecutive month in August, data from the General Administration of Customs showed.
Volvo Cars said that it will end production of any remaining diesel models by early 2024 as it heads towards becoming an all-electric carmaker.
The French government plans to temporarily lift a ban on retailers selling road fuel below cost as part of efforts to stem inflationary pressures on households.
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