Latest news with #crudeOil
Yahoo
14 hours ago
- Science
- Yahoo
MIT chemical engineers make potentially game-changing breakthrough with crude oil: 'Creates a new way to apply it'
A team of chemical engineers at the Massachusetts Institute of Technology has invented a new process to separate crude oil components, potentially bringing forward a replacement that can cut its harmful carbon pollution by 90%. The original technique, which uses heat to separate crude oil into gasoline, diesel, and heating oil, accounts for roughly 1% of all global energy consumption and 6% of dirty energy pollution from the carbon dioxide it releases. "Instead of boiling mixtures to purify them, why not separate components based on shape and size?" said Zachary P. Smith, associate professor of chemical engineering at MIT and senior author of the study, per Interesting Engineering. The team invented a polymer membrane that divides crude oil into its various uses like a sieve. The new process follows a similar strategy used by the water industry for desalination, which uses reverse osmosis membranes and has been around since the 1970s. Previous attempts to adapt this process for crude oil have had the hurdle of the membrane swelling and interfering with successful separation. By replacing the amide bond with an imide bond instead, the team made the film more hydrophobic, allowing hydrocarbons to pass through the membrane without this issue arising. "The main advantage of interfacial polymerization is it's already a well-established method to prepare membranes for water purification, so you can imagine just adopting these chemistries into existing scale of manufacturing lines," lead author Tae Hoon Lee explained, per IE. While protecting the planet from rapid overheating will take scaling down dirty fuel sources in favor of renewable energy sources like solar and wind, this innovation is a substantial step in maximizing the industrial efficiency of oil processing if brought to commercial scale. The technology has also opened the door to imitating its success with other organic systems, with the potential to use different membranes in tandem to isolate a variety of chemicals in complex mixtures. "This work takes the workhorse technology of the membrane desalination industry … and creates a new way to apply it to organic systems," said Andrew Livingston, a chemical engineering professor at Queen Mary University of London, per IE. Should the government be allowed to control how restaurants run their business? Never Only in some cases Only for chain restaurants Yes in all cases Click your choice to see results and speak your mind. Join our free newsletter for weekly updates on the latest innovations improving our lives and shaping our future, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
14 hours ago
- Automotive
- Yahoo
DHT Holdings, Inc. announces agreement to acquire a 2018 built VLCC
HAMILTON, BERMUDA, June 19, 2025 – DHT Holdings, Inc. (NYSE:DHT) ('DHT' or the 'Company') today announces that it has entered into an agreement to acquire a VLCC built in 2018 at Hyundai Heavy Industries (HHI), for $107 million. The vessel is scheduled to deliver towards the end of the third quarter of 2025. The acquisition will be financed through the Company's available liquidity and projected mortgage debt. The vessel was built to a high specification by its current owner and is fitted with an exhaust gas cleaning system. The acquisition will improve DHT's age profile and will further improve the DHT fleet's efficiency metrics. DHT's President & CEO, Svein Moxnes Harfjeld, comments: 'We are always looking for opportunities with the intent of improving earnings per share for our shareholders. This is a sister of vessels built by us in 2018, a design with large carrying capacity and premium earning capabilities, well suited for the trading patterns of our key customers. We believe this to be a fitting addition to our fleet, replacing some of the earnings capacity that has been divested this year, delivering into a market with attractive prospects.' About DHT Holdings, is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We operate through our wholly owned management companies in Monaco, Norway, Singapore, and India. You may recognize us by our renowned business approach as an experienced organization with focus on first rate operations and customer service; our quality ships; our prudent capital structure that promotes staying power through the business cycles; our fleet employment with a combination of market exposure and fixed income contracts; our disciplined capital allocation strategy through cash dividends, investments in vessels, debt prepayments and share buybacks; and our transparent corporate structure maintaining a high level of integrity and corporate governance. For further information please visit Forward Looking StatementsThis press release contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events. When used in this document, words such as 'believe,' 'intend,' 'anticipate,' 'estimate,' 'project,' 'forecast,' 'plan,' 'potential,' 'will,' 'may,' 'should' and 'expect' and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements reflect the Company's current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company's estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company's Annual Report on Form 20-F, filed with the SEC on March 20, 2025. The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company's actual results could differ materially from those anticipated in these forward-looking statements. Contact:Laila C. Halvorsen, CFOPhone: +1 441 295 1422 and +47 984 39 935 E-mail: lch@
Zawya
2 days ago
- Business
- Zawya
Qatar hikes June term price for al-Shaheen oil to 1-year high, sources say
SINGAPORE: QatarEnergy has raised the June term price for al-Shaheen crude oil to its highest premium in a year, according to three trade sources. The premium for June-loading al-Shaheen crude rose to $2.48 a barrel above Dubai quotes. The producer sold all five cargoes to TotalEnergies. The jump in premiums followed increases in Middle East crude benchmarks Dubai and Oman as fighting broke out between Israel and Iran last week, raising concerns of supply disruptions in the key producing region. Last month, QatarEnergy sold May-loading al-Shaheen crude at a premium of $1.29 a barrel to Vitol. (Reporting by Florence Tan; Editing by Christian Schmollinger)
Reuters
2 days ago
- Business
- Reuters
Rupee set to plumb to 2-month low at open on fears over oil-spurred outflows
MUMBAI, June 18 (Reuters) - The Indian rupee is set to open weaker on Wednesday, nearing a two-month low, weighed down by rising crude oil prices amid escalating Iran-Israel tensions and concerns over outflows. The 1-month non-deliverable forward indicated a open in the 86.38-86.42 range, versus 86.24 in the previous session. The unit had already breached a support level on Tuesday, and traders said the bias remains firmly on the downside. Brent crude futures climbed over 4% on Tuesday, with the rally holding firm through the Asian session on Wednesday, amid concerns that the ongoing Iran-Israel conflict could disrupt supplies. The conflict has now entered its sixth day and anxiety is building over the risk of direct U.S. military involvement. U.S. President Donald Trump on Tuesday demanded Iran's unconditional surrender. In a further development, three U.S. officials said Washington is deploying more fighter aircraft to the region to strengthen its military forces. A prolonged conflict "raises the odds of oil staying bid", and that's "structurally bearish for Indian assets", leading to outflows, a currency trader at a Mumbai-based bank said. He expects 86.50 to act an initial support zone, with markets staying alert to potential dollar sales by the Reserve Bank of India around that level, he said. High oil prices tend to weigh on the Indian rupee due to the country's dependence on crude imports. A rise in oil directly increases the demand for dollars from oil companies and leads to a deterioration in the trade balance. Meanwhile, the Federal Reserve's policy decision on Wednesday will be in focus alongside developments in the Middle East. While the Fed is widely expected to keep rates unchanged, market attention will be on any signs around the timing and extent of future rate cuts. BofA Global Research expects the Fed's 2025 dot plot to shift higher, with the median projection rising by 25 basis points from the March estimate of 3.875%. KEY INDICATORS: ** One-month non-deliverable rupee forward at 86.46; onshore one-month forward premium at 8.5 paise ** Dollar index down at 98.7 ** Brent crude futures at $76.4 per barrel ** Ten-year U.S. note yield at 4.4% ** As per NSDL data, foreign investors sold a net $307.8mln worth of Indian shares on June 16 ** NSDL data shows foreign investors bought a net $32.4mln worth of Indian bonds on June 16
Yahoo
2 days ago
- Business
- Yahoo
Rupee set to plumb to 2-month low at open on fears over oil-spurred outflows
By Nimesh Vora MUMBAI (Reuters) -The Indian rupee is set to open weaker on Wednesday, nearing a two-month low, weighed down by rising crude oil prices amid escalating Iran-Israel tensions and concerns over outflows. The 1-month non-deliverable forward indicated a open in the 86.38-86.42 range, versus 86.24 in the previous session. The unit had already breached a support level on Tuesday, and traders said the bias remains firmly on the downside. Brent crude futures climbed over 4% on Tuesday, with the rally holding firm through the Asian session on Wednesday, amid concerns that the ongoing Iran-Israel conflict could disrupt supplies. The conflict has now entered its sixth day and anxiety is building over the risk of direct U.S. military involvement. U.S. President Donald Trump on Tuesday demanded Iran's unconditional surrender. In a further development, three U.S. officials said Washington is deploying more fighter aircraft to the region to strengthen its military forces. A prolonged conflict "raises the odds of oil staying bid", and that's "structurally bearish for Indian assets", leading to outflows, a currency trader at a Mumbai-based bank said. He expects 86.50 to act an initial support zone, with markets staying alert to potential dollar sales by the Reserve Bank of India around that level, he said. High oil prices tend to weigh on the Indian rupee due to the country's dependence on crude imports. A rise in oil directly increases the demand for dollars from oil companies and leads to a deterioration in the trade balance. Meanwhile, the Federal Reserve's policy decision on Wednesday will be in focus alongside developments in the Middle East. While the Fed is widely expected to keep rates unchanged, market attention will be on any signs around the timing and extent of future rate cuts. BofA Global Research expects the Fed's 2025 dot plot to shift higher, with the median projection rising by 25 basis points from the March estimate of 3.875%. KEY INDICATORS: ** One-month non-deliverable rupee forward at 86.46; onshore one-month forward premium at 8.5 paise ** Dollar index down at 98.7 ** Brent crude futures at $76.4 per barrel ** Ten-year U.S. note yield at 4.4% ** As per NSDL data, foreign investors sold a net $307.8mln worth of Indian shares on June 16 ** NSDL data shows foreign investors bought a net $32.4mln worth of Indian bonds on June 16 Sign in to access your portfolio
