Shutdown of S Korea’s coal-fired power plants to spur LSFO demand further
The planned shutdown of some coal-fired power plants in South Korea will likely propel low sulfur fuel oil demand, which has already seen an increase due to stricter environmental rules in international shipping as well as the implementation of emission control areas in the country, industry sources said.
South Korea plans to idle nearly 16 out of 60 coal-fired power plants for three months starting December, to help reduce air pollution. As a result, the country’s power companies would rely heavily on cleaner fuels like LSFO to generate power, an official at Korea Petroleum Association said.
Analysis
British Airways and ZeroAvia enter agreement for hydrogen-powered aircraft exploration
UK Climate Change Commission provides key recommendations for Sixth Carbon Budget
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United Airlines pledges to reduce 100% of its greenhouse gas emissions by 2050
United Airlines pledged (10-Dec-2020) to reduce 100% of its greenhouse gas emissions by 2050.
In order to reduce emissions, United will make a multimillion dollar investment in 1PointFive, a partnership between Oxy Low Carbon Ventures and Rusheen Capital Management that utilises atmospheric carbon capture technology (called Direct Air Capture) to physically remove CO2 from the air.