Month: March 2022

Environmentalists say government regulators should take a pass on any liquefied natural gas proposals in Nova Scotia, and that efforts to expand alternative energy resources should be stepped up. Calgary-based Pieridae Energy recently confirmed it is looking at pursuing a floating LNG terminal near the coast of Goldboro in Guysborough County. The move follows a decision by the company last summer to abandon plans for a land-based facility due to financing problems. With gas prices on the rise, the company is now examining the smaller, cheaper idea of using a leased barge, which it…

China will boost the production of more modern coal mines and enhance coal reserve capacity, and aims to increase the government-deployable storage to 5% of local consumption, the country’s state economic planner said on Saturday. The National Development and Reform Commission (NDRC) also said in a statement during the annual parliament gathering that it will guarantee coal transportation and further improve coal pricing mechanisms. The promises follow the central government’s approval of hundreds of new coal mining projects and output expansions at existing mines since the second half of 2021 after tight fuel supplies last year…

Oil major Shell has sought to defend its decision to buy a heavily-discounted consignment of oil from Russia, saying it would commit the profits to a fund dedicated to humanitarian aid for Ukraine. On Friday, Shell purchased 100,000 metric tons of flagship Urals crude from Russia. It was reportedly bought at a record discount, with many firms shunning Russian oil due to Moscow’s unprovoked invasion of its neighbor. The purchase did not violate any Western sanctions. Shell said in a statement late Saturday that it had been in “intense talks…