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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2022 and by an additional 1.6

Global 448
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GM signs major Li-ion supply chain agreements: CAM with LG Chem and lithium hydroxide with Livent

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General Motors announced two major Li-ion battery supply chain agreements, one with LG Chem for cathode active material (CAM), and one with Livent for the supply of battery-grade lithium hydroxide. —Jeff Morrison, GM vice president, Global Purchasing and Supply Chain.

Li-ion 199
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Brine-to-battery company EnergyX secures $450M funding agreement with Global Emerging Markets

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Lithium and battery technology company Energy Exploration Technologies announced a $450-million investment commitment from Global Emerging Markets (GEM). Founded in 1991, GEM (Global Emerging Markets) is a $3.4-billion billion alternative investment firm with offices in Paris, New York, and the Bahamas.

Global 199
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First orders for MAN G80 dual-fuel methanol engine

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Hyundai Samho Heavy Industries Co. the major South Korean integrated-logistics company. The newbuildings will be delivered to HMM from 2025 and will operate on routes to North and South America as well as India. and HJ Shipbuilding & Construction Co.

Engine 365
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Ford and Volkswagen expand global collaboration to include EVs, invest in Argo AI

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Ford Motor Company and Volkswagen AG are expanding their global alliance to include electric vehicles—and will collaborate with Argo AI to introduce autonomous vehicle technology in the US and Europe. Looking ahead, even more customers and the environment will benefit from Volkswagen’s industry-leading EV architecture.

Ford 262
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Rio Tinto to acquire Rincon Mining lithium project for $825M

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Rio Tinto said the acquisition demonstrates its commitment to build its battery materials business and strengthen its portfolio for the global energy transition. It has the potential to have one of the lowest carbon footprints in the industry that can help deliver on Rio Tinto’s commitment to decarbonize its portfolio.

Argentina 259
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Ballard and HDF Energy sign development agreement for multi-megawatt fuel cell systems

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The first phase involves the design, build and supply of two next-generation MW-scale containerized stationary PEM fuel cell systems totaling 3-megawatts, based on our new high-durability LCS fuel cell stack [ earlier post ]. The project will involve 90MWh of energy storage from hydrogen, representing a first for the fuel cell industry.

Energy 195