production – The News Desk

Iran Adds to Pressure on U.S. With Nuclear Program Acceleration

27Dec

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World

Iran Adds to Pressure on U.S. With Nuclear Program Acceleration

Updated Dec. 26, 2023 6:06 pm ETIran has tripled production of nearly weapons-grade uranium in a move likely to deepen its confrontation with the West as Tehran helps allied militias to attack Israel and U.S. forces in the region. Iran’s decision to triple its production rate of near-weapons-grade uranium marks the collapse of quiet diplomatic efforts between Washington and Tehran to ease tensions. It comes amid a proliferation of flashpoints between the U.S. and Iran, whose proxies have repeatedly traded fire with U.S. forces in the Middle East since the bloody conflict between Israel and Hamas erupted on Oct. 7. U.S. and European navies are also shooting down drones launched by the Iran-backed Houthis in the Red Sea. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 879...

26Dec

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World

Iran Adds to Pressure on U.S. With Nuclear Program Acceleration

Dec. 26, 2023 10:07 am ETIran has tripled production of nearly weapons-grade uranium in a move likely to deepen its confrontation with the West as it helps Tehran-linked militias to attack Israel and U.S. forces in the region. Iran’s decision to triple its production rate of near-weapons-grade uranium marks the collapse of quiet diplomatic efforts between Washington and Tehran to ease tensions. It comes amid a proliferation of flashpoints between the U.S. and Iran, whose proxies have repeatedly traded fire with U.S. forces in the Middle East since the bloody conflict between Israel and Hamas erupted on Oct. 7. U.S. and European navies are also shooting down drones launched by the Iran-backed Houthis in the Red Sea. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cb...

23Dec

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Money

OPEC Is Losing Its Mojo on Wall Street

Throttling back on oil production hasn’t helped OPEC and its allies to push up crude prices lately.At least four times in the past 15 months, members of the alliance known as OPEC+ have slashed oil output, only for prices to soon retreat anyway. A surge near $100 a barrel petered out earlier this year, and crude futures tumbled 10% in the two weeks after the coalition announced a roughly 5% reduction on Nov. 30.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Credit Agricole to Stop Financing New Fossil Fuel Extraction Projects

14Dec

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World

Credit Agricole to Stop Financing New Fossil Fuel Extraction Projects

Credit Agricole said it aims to achieve carbon neutrality by 2050 and that it won’t finance any new fossil fuel extraction projects.The French lender said Thursday it expects to increase 80% of its exposure to low carbon energies through 2025 totalling 13.3 billion euros ($14.46 billion).Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

New York Joins IBM, Micron in $10 Billion Chip Research Complex

11Dec

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World

New York Joins IBM, Micron in $10 Billion Chip Research Complex

Updated Dec. 11, 2023 12:26 pm ETNew York state is joining chip companies to invest $10 billion in a semiconductor research facility near the University at Albany that is set to bring advanced chip-making equipment to the state.NY Creates, a nonprofit that oversees the Albany NanoTech Complex where the facility is to be built, will coordinate its construction. It will also use state funds to acquire chip-making equipment from ASML Holding, a Dutch company whose machines can cost hundreds of millions of dollars and are key to making the most advanced chips possible.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Sustainable Aviation Fuel production to triple in 2024 – Business Traveller

11Dec

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Travel

Sustainable Aviation Fuel production to triple in 2024 – Business Traveller

The International Air Transport Association has released its latest figures for expected production of Sustainable Aviation Fuel (SAF) in 2024. Around 1.875 billion litres of SAF are expected to be produced next year, triple the 600 million litres produced in 2023, which in turn was double the 300 million litres produced in 2022. But IATA stressed that the 2024 figures equate to just 0.53 per cent of the aviation industry’s fuel needs, and warned that SAF output is expected to account for just 6 per cent of all renewable fuels produced next year, with 94 per cent going to other sectors. IATA said that “demand is not the issue”, adding that “Every drop of SAF produced has been bought and used”. “At least 43 airlines have already committed to use some 16.25 billion litres of SAF in 2030, w...

Anglo American Sees Lower Production; Targets to Cut Cost by $1 Bln Next Year

8Dec

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World

Anglo American Sees Lower Production; Targets to Cut Cost by $1 Bln Next Year

Anglo American said it expects lower production next year amid near-term constraints and volatile market conditions, and that it plans to lower costs by $1 billion.The multinational diversified miner said Friday its output for 2023 increased by around 3% on year, driven by a ramp-up of operations at its Peruvian copper project Quellaveco and solid iron ore production, which offset lower platinum metals and diamonds production.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Toshiba, Rohm to Invest $2.69 Billion to Make Power Devices in Boost to Japan Chip Industry

8Dec

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World

Toshiba, Rohm to Invest $2.69 Billion to Make Power Devices in Boost to Japan Chip Industry

Toshiba and electric-parts company Rohm will invest $2.69 billion in a venture to produce power devices, a move aligned with Tokyo’s drive to ensure a stable supply of semiconductors in Japan.The Japanese companies said Friday they will spend a combined 388.3 billion yen ($2.69 billion) to boost production capacity of silicon carbide and silicon power devices, components used for supplying and managing power in parts such as electric-vehicle powertrains.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

German Industrial Production Contracted Unexpectedly in October

7Dec

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World

German Industrial Production Contracted Unexpectedly in October

Germany’s industrial production fell unexpectedly in October, and for a fifth-straight month, a further sign of the deteriorating environment in the key manufacturing base of Europe’s largest economy.Output dipped 0.4% compared with the previous month, seasonally and on a calendar-adjusted basis, from a 1.3% decline in September, according to data published Thursday by German statistics office Destatis.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

U.S. Crude Oil Inventories Fall by 4.6 Million Barrels in Week

6Dec

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Money

U.S. Crude Oil Inventories Fall by 4.6 Million Barrels in Week

U.S. crude oil inventories fell more than expected last week as U.S. refiners continued to raise their capacity use following the fall maintenance season, according to data released Wednesday by the U.S. Energy Information Administration.Commercial crude-oil stockpiles excluding the Strategic Petroleum Reserve fell by 4.6 million barrels in the week ended Dec. 1, to 445 million barrels, and were about 1% below their five-year average for the time of year, the EIA said. It was the first draw on stocks in seven weeks.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8