Tag Archives: EMISSION

Is Brazil’s Oil Boom In Danger? | Instant News



Brazil’s massive offshore oil boom, especially in pre-salt oil fields off the deep sea, continues to grow despite weak oil prices and the sharp impact of the COVID-19 pandemic. Strong demand from Asian refiners, especially in China, for lighter and sweeter crude has seen demand for Brazilian crude soar since the end of 2019. The COVID-19 pandemic, the second round of lockdown among Europe’s largest economies, has slowed the world’s economy with fast, and the poor global economic outlook has done little to curb China’s insatiable thirst for crude. Data presented by Reuters shows that China’s crude oil imports for the first 10 months of 2020 increased by almost 11% year over year to the equivalent of 11 million barrels per day. Brazil has emerged as a major suppliers crude oil to the second largest economy in the world. This can be attributed to the introduction of IMO 2020 in January which significantly reduced the sulfur content of maritime fuels and was a key driver of growing Asian demand for Brazil. sweet crude oil oil. The global push to reduce emissions means that demand for lighter, sweeter, lower sulfur crude, which is cheaper and easier to refine, will continue to grow. Latin America’s largest economy is now the third largest supplier of petroleum to China compared to fifth in 2019. There are concerns that the latest news from Brazil’s national oil company, Petrobras, could thwart Brazil’s offshore oil boom. Integrated energy major recently announced Its Strategic Plan 2021-2025 where it marks 27% cut expenses compared with last year, to $ 55 billion. This, according to Petrobras, was due to the impact of the COVID-19 pandemic on demand for crude oil and its derivative products which caused oil prices to weaken sharply. While this sparked some concerns about how it would impact Brazil’s burgeoning offshore oil boom, downfall must be minimal. Petrobras stated that it intends to spend $ 46 billion, or nearly 84% of the planned CAPEX budget, on exploration and production with a focus on its pre-salted oil assets. This is Brazil’s vast deepwater pre-saline oil field producing medium grade sweet crude that has become immensely popular in China and is gaining greater market share in other parts of Asia.

Related: Why Iraq Isn’t Producing 10 Million Barrels Per Day Yet

There are two reasons for this; First, the low sulfur content of crude oil produced for the Lula and Buzios varieties were 0.27% and 0.31%, respectively. This makes them particularly attractive to refiners in a world where stricter emissions and sulfur content regulations are in place. It was the introduction of IMO2020 which was the main reason for the surge in demand for Brazilian sweet crude among Asian refiners in a region that is a global shipping hub. The significant increase in demand for sweet crude has mixed Brazilian Lula and Buzios trade at a premium at international Brent prices. Second, Brazil’s pre-salt oil fields have low breakeven costs, estimated by Natural Resources to average around $ 45.50 per barrel while Petrobras pegs the break-even price of its pre-salt operations at $ 21 per barrel, meaning they very profitable even in today’s tough operating environment where Brent is selling for less than $ 50 per barrel. Petrobras announced it just invest in projects that are Brent resistant for $ 35 a barrel. While the $ 46 billion earmarked for exploration and production expenditure is less than the $ 64 million allocated in the previous plan, the focus on low-cost pre-salt production will drive increased production of higher margin light sweet crude. Petrobras made a series of moves to make sure this happened. The national oil company increased activity in the Buzios field in response to strong demand for this type of crude. They plan to bring 8 more FPSOs online by the end of the decade, giving Buzios 12 an operational platform to see the field pumping in excess of 2 million barrels daily or more than triple its current output of around 600,000 barrels. Petrobras also, at a cost of $ 353 million, re-deployed the 150,000 barrels per day P-71 floating production storage and offloading platform from the Tupi oil field to the newly discovered Itapu field. Petrobras hopes that production can start next year, two years ahead of the original 2024 schedule.

Despite the sale of assets, the sharp decline in spending and the closure of operations was not economical for Petrobras pre-salt oil output spiked 32% year on year for the first nine months of 2020 to nearly 1.6 million barrels per day. As a result, total hydrocarbon production for that period grew by 7.6% to a daily average of 2.9 million barrels of oil equivalent. Brazil’s state-controlled oil company is a key driver of pre-salt operations in Latin America’s largest economy, responsible for more than 60% of the country’s pre-salt oil production and 77% total oil production (Portuguese). The latest strategic plan confirms Petrobras’ central role in developing Brazil’s abundant pre-salt oil reserves and will ensure that the country’s economically important oil production continues to expand. This will ensure that Brazil’s oil boom continues to grow, sees Latin America’s largest economy to be the world’s leading offshore oil domain.

By Matthew Smith for Oilprice.com

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The driver’s tax will leave Australia even more behind in the electric vehicle market, the study found | Instant News


The electric vehicle tax, slated by the state governments of Victoria and South Australia for 2021, will dramatically limit the use of electric vehicles in Australia, according to a new report from the University of Queensland.

The transport sector is currently responsible for about 18 percent of Australia’s greenhouse gas emissions, and 10 percent of light vehicles.

Both Victoria and South Australia have stated goals to achieve net-zero greenhouse gas emissions by 2050, but taxing electric vehicles puts those targets in jeopardy, according to report author and Queensland University E-Mobility Associate Jake Whitehead.

The initial report, which has not been peer reviewed and is based on surveys and modeling, estimated that the proposed 2.5 cents per kilometer tax would mean electric vehicles (EVs) would produce between 30 and 40 percent new vehicles. sales in the state by 2050.

“In the worst case scenario …[electric vehicles will make up] no more than 30 percent of new car sales were mid-century, which is ridiculous, “said Dr. Whitehead.

A study conducted for the Australian Government last year showed that on a business-as-usual approach with no additional taxes or incentives, electric cars will account for about half of all new cars sold in Australia by 2035.

That increases to around 65 percent by 2050.

Only by offering significant incentives can Australia hope to achieve a 100 percent electric vehicle market in line with its net zero-emission target by 2050, according to Dr. Whitehead.

“Our preliminary modeling suggests that a proposed 2.5 cents per kilometer EV highway tax could result in 2050 sales rates that are at least 25 percent lower than business as usual,” he said.

“Only the best case scenario makes us [to 100 per cent EVs] – that’s not the main scenario, it’s the best case scenario.

“What I’m really worried about is the state government continues to use that [net-zero] rhetoric but then don’t back it up with action. “

Sylvia says she hasn’t looked back since buying her electric car online three years ago.(ABC Capricornia: Erin Semmler)

Given the likelihood that the overall number of vehicles will increase as population grows, more than half of those vehicles powered by gasoline and diesel will continue to contribute to our greenhouse gas emissions by 2050.

As part of the report, Dr Whitehead’s team surveyed 500 households about what incentives were most likely to encourage them to buy an electric vehicle.

Exemption of electric vehicle drivers from road taxes had the most significant impact on those surveyed, followed by offering monetary credit for electricity costs.

This is in line with 2018 ARENA report who noted that “finance costs, and particularly reductions in upfront purchase costs” had the strongest impact on EV use.

Other incentives such as stronger public charging networks and access to free recharge are seen as a supporting role, rather than a major role in vehicle sales.

A South Australian government spokesman did not respond to questions asked to them about whether they had exemplified the potential impact of the tax on the use of electric vehicles.

However, the spokesman said it was “important that all road users contribute equitably” to road costs.

“The Marshall government is investing a record $ 18.3 million dollars in its electric vehicle action plan – including $ 13.4 million to deploy a statewide fast charging network,” the spokesman said.

“This will help promote the use of electric vehicles and help meet the Marshall Government’s target of reducing carbon emissions by 50 percent by 2030 by 2005 levels.”

A spokesman for the Victorian government also said the tax was “fair” and that the state was still on track to achieve net zero emissions by the middle of this century.

“The government has set a target for a net zero-emission law by 2050 and we will announce various policies to achieve that target,” the spokesman said.

Electric vehicles in Australia: the state of the game today

Electric cars globally accounted for 2.6 percent of all new car sales in 2019 or about 2.1 million cars.

That’s much higher in places like China where EVs make up about 5 percent of the market, the EU about 3.5 percent, and Norway, where more than half of all new cars are electric.

Norway currently aims to phase out new petrol and diesel cars by 2025.

But Australia is far behind. In 2019, electric cars accounted for only 0.6 percent of new car sales totaling more than 6,700 new electric vehicles.

While that doesn’t sound like much, there were only 2,216 sold the previous year in 2018. And if we go back to 2011, only 49 Australians bought EVs.

Seen in that context, the Australian electric vehicle market appears to be in the early stages of a strong upgrade.

Despite a drop in car sales in Australia and around the world due to COVID-19 this year, electric car sales here and internationally have bucked the trend.

And while there is talk that hydrogen technology could rival electric vehicles, it will not, according to Peter Newman, an expert on energy, transportation and sustainability at Curtin University.

“The 2020s are a great time [electric vehicles] will dominate the market, “said Professor Newman.

“[Hydrogen] it’s great for industry in rural areas and regions and a great choice for green industries, things like green steel exports …[but] EVs and lithium ion batteries win – they’re definitely the better choices, we just need to launch them. “

There are currently 24 electric vehicle models available in Australia and more than 2,300 public charging stations.

Where are we going?

There are many factors other than driving taxes that will influence the adoption of electric vehicles in Australia.

Future increases in oil prices could make electric vehicles a more cost-effective alternative to drive, and the up-front cost of EVs will also influence consumer choices.

The cheapest electric vehicle on the Australian market is currently over $ 44,000, which is still beyond the reach of many.

However, prices are expected to continue to fall over the next few years.

Research by the Electric Vehicle Council found that 56 percent of people surveyed said they would now consider buying an electric vehicle as their next car.

While range anxiety and a lack of access to charging stations have still been identified as barriers for people buying electric vehicles, they are becoming less of a problem as EVs become more common, according to Dr Whitehead.

“People are becoming more familiar with the technology. They are starting to see the charging infrastructure around the place,” he said.

“We have noticed that in the consumer work we do, there is a change in understanding of technology.”

Australia’s slow adoption can make it hard to catch up

Britain recently joined a growing list of countries planning to phase out new petrol and diesel vehicles by 2030, and more countries should do the same, Professor Newman said.

“The elimination of diesel and petrol vehicles by 2030 must become a world standard,” he said.

But right now, our grid will not be able to sustain 100 percent of the electric vehicle market.

To get around this, we need to install large-scale community batteries to manage peak loads and integrate the charging infrastructure into public transport stations.

“It’s just a matter of launching it. It’s a matter of removing barriers,” said Professor Newman.

“The technology is there.”

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Toyota GR Yaris Rallye pricing | Instant News


Toyota Australia said it has not announced the pricing of the GR Yaris Rallye special edition sports car, which will arrive at dealerships next year.

A spokesperson said that any offer for the Rallye model is purely speculative.

The spokesperson said: “We understand the excitement surrounding an excellent pure performance car like GR Yaris, whether it is a standard car or a Rallye car.”

“We didn’t inform dealers and the public about the price of the special edition GR Yaris Rallye until the launch event was approaching.”

Toyota Australia has made a huge investment in its emerging GR brand and started pre-sales of the 200kW GR Yaris. The price of the first 1,000 vehicles is only $39,950 (see Figure 2). Price 1).

The strong demand caused the initial configuration to be sold out within a week, leading to the release of another 100 cars by Toyota, with a price of $44,950 (see Price 2). The vehicles in this allocation are still available.

Next year’s rally car type will be limited to around 250. It gets a circuit-tuned suspension, Torsen front and rear1 piece Limited slip differential and 18 inch BBS®1 piece Michelin forged aluminum alloy wheels® Pilot Sports 4S1 piece Tires.

…End/

1 piece Product and company names are trademarks of their respective owners.

/Public Release. The material in this disclosure version comes from the original organization, and may have a point-in-time nature, and has been edited for clarity, style and length.Full view Here.

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G20 countries are still supporting fossil fuels through the COVID-19 response | Instant News


The major G20 economies are “moving in the wrong direction” in response to the coronavirus pandemic by using stimulus spending to support industries and companies that are heavily dependent on fossil fuels heating the planet, researchers said on Tuesday.

Despite repeated promises to end subsidies for oil, gas and coal, the G20 government continues to fund fossil fuels, with the COVID-19 crisis not changing that much, says a new report.

That points to regularly updated figures from the Energy Policy Tracker, a non-profit research project. Recent data shows that the G20 countries have committed more than $ 230 billion in COVID-19 recovery funds for gross energy so far.

In comparison, they plan to devote less than $ 150 billion to clean energy.

The report, from the International Institute for Sustainable Development, the Institute for Overseas Development and advocacy group Oil Change International, said the G20 recovery spending is likely to “invalidate the small progress made between 2014 and 2019.”

Angela Picciariello, a senior research officer at ODI, said the implications were “very worrying and disappointing.”

“The current direction of travel is not encouraging and needs to be reversed as soon as possible” if the world is to meet the 2015 Paris Agreement goal of keeping warming to 1.5 degrees Celsius above pre-industrial times, he said by email.

“To be in line with 1.5 C and avoid the worst of the climate crisis, the G20 governments must rule out sustainable fossil fuel support, in recovery spending or otherwise,” he added.

The report calls for public money earmarked for fossil fuels to help economies recover from the COVID-19 crisis so that green conditions stick. This urges the government to support more sustainable areas such as health, social support and clean energy.

The burning of fossil fuels releases carbon dioxide, the main greenhouse gas driving climate change. Limiting these emissions is critical for controlling rising global temperatures and preventing weather disasters, say scientists.

However, more than 10 years after G20 leaders agreed to end fossil fuel subsidies – which keep fuel prices low, increase demand and cause more emissions – progress has been “very limited and certainly not sufficient to meet the objectives of the Paris Agreement,” “Said Picciariello.

“There is no G20 country that appears properly. Most of the countries we assess have shown minimal progress over the past three years, “he added.

Between 2017 and 2019, the G20 governments supported fossil fuels up to $ 584 billion per year, 9% less than in the 2014-2016 period, according to the report.

Seven countries – Australia, Canada, China, France, India, Russia and South Africa – have stepped up their fossil fuel support over the years, he said.

The report ranks the G20 countries on seven indicators including transparency, public money for coal, oil and gas, fossil fuel-based power, and how support has changed over time.

Germany scored the cleanest among the G20 countries which are also part of the Organization for Economic Cooperation and Development (OECD), a group of wealthy countries.

Brazil scored the highest for the G20 countries outside of the OECD, but new steps such as an upcoming natural gas bill that would establish tax exemptions and low interest rates for investment in gas facilities and pipelines could change that, warned Bronwen Tucker, an analyst at Oil Change International.

Britain, Turkey and Mexico are in the lowest rankings among the G20 OECD members and Saudi Arabia is last among non-OECD countries.

The report criticizes Britain for lacking transparency and says it denies providing fossil fuel subsidies “by its own narrow definition,” while still delivering $ 16.4 billion in government support on fossil fuels each year.

The support comes from previous tax revenues of $ 12.7 billion, direct budget transfers and public finances, he said.

The UK government’s definition of subsidies follows the International Energy Agency’s definition, which excludes such measures, Picciariello said.

The UK’s Department of Business, Energy & Industry Strategy did not respond to a request for comment.

Separately, on Tuesday, ministers from countries that are part of the climate alliance known as the High Ambition Coalition called for “the largest possible percentage” of recovery spending to be dedicated to green economies and low-carbon jobs.

The nine governments backing claims on a resilient recovery said they would aim to make up at least 60% of climate-friendly pandemic stimulus spending, and eliminate and avoid fossil fuel subsidies in favor of “zero carbon” alternatives.

The signatories so far are the Marshall Islands, the Netherlands, Costa Rica, Ethiopia, Luxembourg, Fiji, Grenada, Belize and Bhutan.

PHOTO GALLERY (CLICK TO ENLARGE)

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Watch: Apple releases iOS 14.2 RC, replacing GM seed-this is the 5th Beta new feature | Instant News


Apple’s iOS 14.2 RC is about to be released to the public because the giant smartphone manufacturer has already released it to developers and other public testers. 9TO5Mac According to the report, it has released new features that will definitely attract many users.

(Photo: Screenshot of @techyped’s Twitter post)
Apple replaced GM Seed with iOS 14.2; hundreds of emojis and other new features you need to know

Please also read: Apple releases 3 future Mac reference versions macOS Big Sur 11.0.1 Beta

according to Apple InsiderIn the previous report, new enhancements can be downloaded through the Apple Developer Center. However, it only applies to those who have joined the test program.

The new iOS 14.2 Release Candidate (GM) can also be installed on Apple devices running Beta software via wireless updates. Currently, this is the company’s fifth Beta, and it was about ten days after the fourth version was released on October 20.

Expectations of iOS 14.2 RC

According to reports, Apple has replaced “genetically modified seeds” with RC. This is why the latest system version is called “iOS 14.2 RC”. This is an exciting new feature you need to know about.

Apple replaced GM Seed with iOS 14.2; hundreds of emojis and other new features you need to know

(Photo: Screenshot of @AppleO24’s Twitter post)
Apple replaced GM Seed with iOS 14.2; hundreds of emojis and other new features you need to know

  • iOS 14.2 will bring eight new wallpapers in dark and light versions.
  • It will have 100 new emojis to add fun to your chat.
  • The new system fixes the HDR video thumbnails exported from Final Cut Pro X.
  • Also provides a redesigned Airplay 2 interface.
  • The Airplay 2 controls in the control center have also been improved.
  • The new animation in iOS 14.2 allows you to see if other AirPlay 2 devices are active.
  • Podcasts, music, etc. will have source icon indicators.
  • iOS 14.2 also updated the AirPlay pop-up window.
  • “Reduce Loud Sound” has now been renamed “Headphone Security” in “Settings”.
  • Shazam music recognition CC switch.
  • Support in the Home app and through Siri intercom.
  • Apple Card users now have an “annual event” label in the e-wallet app.

New emoji for iOS 14.2

Due to the constant epidemic, chat is one of the main means of communication because people are always at home. Apple’s new system will help you improve the experience of using its new emoji. These include disguised faces, boomerangs, ninjas and more. You can use the iOS 14 search function to find these cute emojis.

For more news updates on iOS 14.2 or other upcoming new systems, please always open the tab here on TechTimes.

related articles: iPhone Advance Hack: How to jailbreak iOS 14.1 The following devices are supported by Checkra1n

This article is owned by TechTimes.

author: Giuliano De Leon.







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