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Industry News

Japan to fund $892 million to help develop low-emission fuels

(Reuters) - Japan's state-backed New Energy and Industrial Technology Development Organization (NEDO) said on Tuesday it will allocate 114.5 billion yen ($892 million) to help develop new fuels such as synthetic ones that emit lower carbon dioxide (CO2).

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Precision farming market to grow to USD 15.6 billion by 2030

(Future Farming) - The precision farming market is expected to grow further due to the growing adoption of global positioning system (GPS), guidance, and remote sensing technologies by farmers and growers. The precision farming market is expected to grow from USD 8.5 billion in 2022 to USD 15.6 billion by 2030, at a CAGR of 7.9%, according to the latest report by MarketandMarkets.

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Russian oil imports banned, stocks down

(AP) — President Joe Biden has announced that the U.S. will ban all Russian oil imports, toughening the toll on Russia’s economy in retaliation for its invasion of Ukraine. But he also acknowledged it will bring costs to Americans, particularly at the gas pump. The action on Tuesday follows pleas by Ukrainian President Volodymyr Zelenskyy to U.S. and Western officials to cut off the imports. Biden declared in remarks at the White House that “We will not be part of subsidizing Putin’s war.”

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The impact of the Ukraine invasion on global agriculture

(AG Web) - On February 24th, the Russian government led by President Vladimir Putin launched an attack on its neighbor Ukraine, seeking to bring that country back into the Russian sphere of influence by force.  The conflict is now in its second week, with the Russian army having captured a handful of cities in the south-eastern corner of Ukraine but their offensive has evidently stalled in much of the rest of the country.  

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Fertilizer giant Yara slashes production in Europe

(CNN Business) - Norway's Yara, one of the world's largest fertilizer makers, is curtailing its ammonia and urea output in Italy and France due to the surge in natural gas prices, it said on Wednesday, in another sign of rising costs for food production.

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Asia Fuel Oil VLSFO crack hits record high amid tighter supplies

(Reuters) - Asia's front-month crack for 0.5% very low-sulphur fuel oil (VLSFO) rose on Wednesday to its highest level on record, while cash premiums for the marine fuel grade jumped on active buying interest in the physical market.

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Food crisis grows as spiralling prices spark export bans

(Reuters) - A global food crisis sparked by Russia's invasion of Ukraine escalated on Wednesday as Indonesia tightened curbs on palm oil exports, adding to a growing list of key producing countries seeking to keep vital food supplies within their borders.

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China Tsingshan's overseas nickel footprint

(Reuters) - A surge in nickel prices to record levels this week has thrown a spotlight on China's Tsingshan Holding Group, one of the world's biggest producers of the metal, and raised concerns about potential impact on its many overseas investments.

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Ukraine's port city of Mariupol remains at risk from Russian invasion

(CGTN) - Mariupol's history museum has two large rooms dedicated to the years that the Ukrainian city was under Soviet control. Located on the north shore of the Azov sea, Moscow developed Mariupol into a booming center for heavy industry with an active port.

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Factbox: Biden administration sees carbon capture as key tool in climate fight

(Reuters) - U.S. President Joe Biden wants to achieve net-zero greenhouse gas emissions by 2050 to fight climate change, a plan that will require not just steep cuts in carbon output but also wider use of negative emissions technologies that can clear up the emissions that remain.

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Open letter from Canadian businesses to our elected representatives

(Chamber) - Canadian businesses have suffered under the strain of constant disruptions over the last two years. The challenges they have had to overcome have included COVID-19, extreme weather events, increasing inflationary pressures, labour shortages and supply chain disruptions. Now achieving a successful recovery is threatened by the ongoing blockades of the critical infrastructure that enables the livelihoods and well-being of all Canadians.

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Producing Polymers from Waste Sulfur

(AZO Materials ) - Waste sulfuric acid is created as a by-product from common industrial processes such as through the extraction of minerals and metal smelting processing.

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Fossil fuel subsidies to face tighter EU scrutiny

(Reuters) - The European Commission wants to increase scrutiny of whether countries are phasing out fossil fuel subsidies fast enough to meet climate goals, under EU rules due this year.

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Electric vehicles drive up nickel, cobalt and lithium prices

(Reuters) - Accelerating sales of electric vehicles have fuelled a scramble for nickel, cobalt and lithium, propelling prices of the battery materials to multi-year highs.

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China showcases low-carbon tech for 'green' Games

(Reuters) - From natural carbon dioxide refrigeration at ice rinks to 100% renewables-powered venues, China is striving to run a "green" Olympics to showcase its leadership in climate-friendly tech and counter concerns about the lack of natural snow at its venues.

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OSHA Formally Withdraws Its COVID-19 Vaccine Mandate

(TTNews) - The Occupational Safety and Health Administration is formally withdrawing its emergency temporary standard requiring large companies to require their employees to receive COVID-19 vaccinations, the agency announced Jan. 25.

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Kula Bio closes $50m Series A to further develop its low emission biofertilizer

(AG Funder News) - Kula Bio, a US-based startup developing a biological fertilizer, has raised $50 million in Series A funding to increase production capacity and further innovate on its technology.

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In Kenya, Apollo Agriculture is building a pathway to commercial farming

(AG Funder News) - It may sound contrarian, but Benjamin Njenga believes that Africa's smallholder farmers are among the richest people in society.

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Analysts raise EU carbon price forecasts as gas rally persists

Reuters) - Analysts have raised their European carbon market average price forecasts in response to persistently high gas prices that encourage electricity generators to use more polluting coal-fired power and increase demand for carbon permits.

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White House Unveils Plan to Recruit Truck Drivers

(Transport Topics News) - The Biden administration is launching a multifaceted program in partnership with industry that aims to expand recruiting efforts in trucking through various efforts, and elevate the appeal of what one senior administration official described as "well-paying, solid careers."

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Member News

Exxon aims to become a top lithium producer for electric vehicles with Arkansas drill operation

(MSN) - Exxon Mobil aims to become a leading producer of lithium for electric vehicle batteries through a drilling operation the oil giant is launching in Arkansas, the company announced Monday.

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Exxon to buy Pioneer In $60 billion deal

(The Wall Street Journal) - Exxon Mobil struck a nearly $60 billion agreement Wednesday to buy Pioneer Natural Resources in the largest oil-and-gas deal in two decades, tying the energy giant's future to fossil fuels.

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Tessenderlo Kerley, Inc. celebrates groundbreaking in Ohio for fertilizer facility

Tessenderlo Kerley, Inc. held a celebratory groundbreaking to mark the commencement of construction on a new liquid fertilizer facility in Defiance, Ohio. The new 50,000-square-foot production facility will occupy 50 acres and is set to become operational in 2024. The facility will service the Eastern Great Lakes Region through its distribution partners and will include terminal loadouts for rail cars and tanker trucks.

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Ford to buy lithium from ioneer for U.S. EV battery plant

(Reuters) - Ford Motor Co (F.N) said on Thursday it will buy lithium from ioneer Ltd's (INR.AX) Rhyolite Ridge mining project in Nevada and use the metal to build electric vehicle batteries in the United States.

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Koch Ag Completes Acquisition, Forms Joint Venture With Moroccan Phosphate Subsidiary

(The Daily Scoop) - "The closing of this acquisition marks Koch's first substantial investment on the African continent," said Brad Razook, Executive VP of Koch Industries and CEO, Resources. "We are excited to add another nutrient to the KAES portfolio in collaboration with a world-class partner."

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Shell Pushes Big Plans To Drill More in Gulf

(The Wall Street Journal) - Political uncertainty is clouding prospects for new drilling in the Gulf of Mexico, but Shell PLC—the Gulf’s biggest producer—is still investing billions of dollars in its waters to pump oil for years to come.

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Rhyolite Ridge: Investing in the future

(Elko Daily) - Alot has been happening with the Rhyolite Ridge lithium/boron project in recent months.
“On March 31, U.S. President Joe Biden announced plans to invoke the Defense Production Act to provide hundreds of millions in new subsidies for the mining of minerals critical for the wind, solar and electric vehicles industries.

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Penflex Becomes The Sulphur Institute's Newest Member

(MSN) - Penflex Corporation recently became the newest member of The Sulphur Institute (TSI), an international, non-profit organization dedicated to advocating for the safe use of sulfur.

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Koch to acquire 50% stake in JFC III from OCP

(Agri Business Global) - Koch Ag & Energy Solutions (Koch) and OCP have signed an agreement under which a Koch affiliate will acquire a 50% interest in Jorf Fertilizers Company III (JFC III) from OCP, the world's largest phosphate mining and leading global fertilizer group. When closed, the transaction will establish a 50/50 joint venture.

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Exxon posts biggest profit in seven years on high oil prices

(Reuters) - Exxon Mobil Corp (XOM.N) on Tuesday reported a fourth-quarter profit of $8.87 billion, its largest in seven years, as the top U.S. oil producer benefited from strong energy prices.

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