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Chemicals & Energy: Page 58

Lithium Shortages Could Hand Salt a Starring Role in EV Shift

BloombergNEF expects sodium to take market share from the cheapest, lowest-range end of the Chinese car market, potentially displacing 272,000 tons of demand for lithium by 2035.

Photo: Krisztian Bocsi/Bloomberg

WE Soda Presses Ahead with U.K. IPO, Likely to Be London’s Biggest Listing of 2023

The organization said indirect net proceeds from the offering are expected to be about $800 million while the company could reportedly seek a $7.5 billion valuation.

London, U.K. Tuesday, March 14, 2023. Photo: Hollie Adams/Bloomberg

GM and POSCO Future M Investing $1bn in North American EV Battery Supply Chain

The Ultium CAM joint venture will reportedly support the annual production of 360,000 Chevrolet, Cadillac, GMC, Buick and BrightDrop vehicles in North America from 2025 to 2030.

Photo: iStock.com/PhonlamaiPhoto

Saudi Arabia to Reduce Global Oil Supply Contributions

Starting July 2023, Saudi Arabia will begin cutting back its contributions to the global oil supply by at least 1 million barrels a day.

Photo: iStock.com/tifonimages

Europe Gas Prices Soars 20% as Market Shows Signs of Tightening

The region is still recovering from a historic energy crisis that was exacerbated by severe supply cuts from Russia in the wake of its war with Ukraine.

Vattenfall AB in Muiden, Netherlands on December 1, 2022. Photo: Bloomberg

U.S. Airlines’ Fuel Consumption Levels Returned to Pre-Pandemic Levels in April

Fuel consumption levels for U.S. scheduled service airlines fell by 3.9% from 1.545 billion gallons in March 2023 to 1.484 billion gallons during April 2023.

Tampa, Florida. Photo: iStock.com/mokee81

Italy Starts €1 Billion Sovereign Fund for Key Supply Chains

The fund hopes to “stimulate the growth and consolidation of national strategic supply chains" according to a statement from Italy’s industry ministry.

Italian Prime Minister Giorgia Meloni attends the swearing-in ceremony at the Quirinal Palace on October 22, 2022, in Rome, Italy. (Photo: Bloomberg/Antonio Masiello/Getty Images)

Saudi Arabia and U.K. Ink Critical Minerals Supply Chain Deal

The deal will improve the supply chain resilience of minerals like copper, lithium, cobalt and rare Earth elements, which are vital to producing electric vehicles and solar panels.

Copper pipes. Photo: iStock.com/SimoneN

Indonesia Considers Limits on LNG Exports in New Trade Curbs

New LNG export contracts or renewals of existing agreements could be prohibited to prioritize the needs of domestic consumers, according to Coordinating Investment and Maritime Affairs Minister Luhut Pandjaitan.

The LNG Aquarius liquefied natural gas tanker at Java Sea offshore in Jakarta, Indonesia, on Sunday, Oct. 31, 2021. The world is facing an energy crisis, with demand rebounding as economies reopen after the pandemic. Photo: Bloomberg/Dimas Ardian

Marubeni and Pembina Sign Low-Carbon Ammonia Supply Chain Agreement

Pembina and Marubeni will establish a large-scale low-carbon ammonia supply chain in Canada with access to Japanese and Canadian governmental support.

Ammonia in glass, chemicals in the laboratory and industry. Photo: iStock.com/Kittisak Kaewchalun

Hyundai Motor, LG to Build $4.3bn EV Battery Factory in U.S.

The announcement comes a month after Hyundai announced that it would build an EV battery factory with SK On, another South Korean battery maker.

Photo: Hyundai

Europe’s Unwanted Coal Heads to China and India as Heat Builds

The country has ramped up imports, but demand hasn’t kept up as China’s recovery has disappointed.

Photo: Bloomberg

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