energy firms back investment into diesel engine
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Energy firms back investment into diesel engine

Arab Today, arab today

Arab Today, arab today Energy firms back investment into diesel engine

The Oil and Gas Climate Initiative (OGCI), which includes BP, Saudi Aramco.
London - Arab Today

As major carmakers shift towards electric vehicles, a group of major oil and gas firms announced Friday an investment into a diesel engine.

The Oil and Gas Climate Initiative (OGCI), which includes BP, Saudi Aramco, Royal Dutch Shell and Total and has a $1-billion investment fund for low-carbon technologies, said it was putting money into Achates Power.

The US company promotes a high-efficiency combustion engine that it says increases fuel efficiency while reducing greenhouse gasses emitted by vehicles at an affordable cost to consumers.

"Pure electric vehicles and their fuel cell powered counterparts are unaffordable to the average car buyer; as such, they will remain a market novelty," Achates Power says on its website.

Diesel engines have under renewed attack after Volkswagen admitted in 2015 that millions of its diesel vehicles had been equipped with software that helped them cheat emissions tests and spew high levels of noxious fumes into the air.

A number of cities, including Paris, are looking to restrict diesels, while France and Britain plan to ban the sale of both petrol and diesel cars by 2040. China, the world's largest car market, is considering following suit.

While the cost and limited range of electric vehicles mean they currently enjoy a narrow market share, most major car manufacturers have launched initiatives to develop a range of electric models and expect prices to drop as production volumes rise.

The OGCI also announced it would invest in a project to design a full-scale natural gas power plant that aims to capture and store carbon dioxide, one of the products of burning fuel that causes global warming.

Another investment is into Solidia Technologies, a US-based cement and concrete production company that uses carbon dioxide instead of water in curing cement. The OGCI said the technology "has the potential to lower emissions in concrete production by up to 70 percent and water consumption by up to 80 percent".

The amount of the three investments was not disclosed.

The ten companies in the OGCI account for nearly one-fifth of global hydrocarbon production and supply around 10 percent of the planet's energy.

The group also includes China's CNPC, India's Reliance Industries, Italy's ENI, Mexico's Pemex, Norway's Statoil, and Spain's Repsol.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

energy firms back investment into diesel engine energy firms back investment into diesel engine

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

energy firms back investment into diesel engine energy firms back investment into diesel engine

 



GMT 10:10 2017 Thursday ,09 February

3 Important Elements You Have to Consider

GMT 04:03 2017 Monday ,24 April

Bella Hadid ‘dying’ to visit Palestine

GMT 19:25 2016 Wednesday ,25 May

The Brooklyn Desk by Oeuf NYC

GMT 07:49 2018 Friday ,05 January

2 Russian servicemen killed

GMT 07:58 2018 Monday ,01 January

Italy orders N. Korea's envoy to leave

GMT 08:45 2017 Wednesday ,20 December

US military imagines war without GPS

GMT 17:26 2017 Sunday ,17 December

Putin thanks Trump for help in foiling attack plot

GMT 22:19 2017 Monday ,16 October

Cairo-hosted Fatwa conf. new contribution

GMT 02:27 2016 Friday ,10 June

Video hints Japan abetting illegal ivory trade

GMT 07:04 2017 Wednesday ,19 April

1,883 Bahrainis found jobs in March

GMT 14:24 2016 Tuesday ,22 November

Citi and JPMorgan top list of ‘globally banks’

GMT 21:43 2017 Friday ,01 September

People question Nazaruddin`s repatriation expenses

GMT 09:41 2017 Wednesday ,19 April

OIC concerned over violence in Mali

GMT 01:30 2017 Friday ,27 October

May22/Jun21

GMT 05:38 2016 Friday ,30 December

Dubai Airports divert 13 flights due to heavy fog

GMT 11:38 2017 Saturday ,14 January

Mexico names new ambassador to US

GMT 12:03 2017 Wednesday ,22 March

Kuwait to mark World Water Day

GMT 15:00 2017 Wednesday ,27 September

HM King receives invitation from Egyptian President

GMT 02:45 2017 Tuesday ,05 December

President Bashir arrives in Chad

GMT 02:45 2017 Wednesday ,16 August

Turkmen President Visits Pakistan
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday