Low-carbon hydrogen already has a big fan-base and is forecast to play a major role in reducing greenhouse gas emissions from heavy industries and some forms of transport.The United States, for example, is offering large incentives for producing it under President Joe Biden’s $430 billion Inflation Reduction Act .
BP’s spending on low-carbon hydrogen remains modest but is expected to grow into the hundreds of millions by the end of the decade as projects gets under way, the company sources said. Most hydrogen is currently used in oil refining and the fertilizer industry and is usually made by heating natural gas, a highly polluting process, known as grey hydrogen.
BP declined to comment on whether it will set a hydrogen production target or on its spending plans for hydrogen.BP’s project at its Whiting refinery will initially replace around 200,000 tonnes of grey hydrogen used by the refinery every year with blue hydrogen, McLeod said. The project could start operating by 2026-2027 and be expanded to green hydrogen.
The IRA offers a $3 per kilogramme tax credit for clean hydrogen, which brings green hydrogen to par or even below the cost of grey and blue hydrogen, according to analysts.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nine killed in Mpumalanga collision - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Nine people have died following a head-on collision between a sedan and a light delivery vehicle on the R34 Road between Morgenzon and Amersfoort in Mpumalanga. You are a blessing sir and I thank God for that, and I will not stop testify about your goodness, you have change people's life and you keep making good name about your self Thomas__Lawson you are in this wonderful platform it is real don't be afraid to invest try and get started now thank you very much Mrs TrevorCarlson0 thank God for everything and for making this successful,TrevorCarlson0 thank you so much i will always appreciate you for what you have done
Source: SABCNews - 🏆 37. / 51 Read more »
KEY STATS | France versus Poland - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Poland have progressed from a World Cup group stage for the first time since 1986, when they lost 0-4 to Brazil in the round of 16. You'll not showing the game, liers, will be reporting you'll for false advertising
Source: SABCNews - 🏆 37. / 51 Read more »
Youth unemployment under spotlight - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.One of the resolutions of the African National Congress (ANC)’s 54th conference at Nasrec in Johannesburg in 2017 was to place the youth in the private and public sectors to gain skills needed in the workplace. Lol. They are doing it in the public sector, I can vouch for them. Unemployment rate increase every day and we as youth we are facing lots of challenges. You might graduate at college or university but still ain't getting job opportunity.' I'm thinking about the next generations so which it gonna be worse'!!!!
Source: SABCNews - 🏆 37. / 51 Read more »
KEY STATS | England versus Senegal - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.England are unbeaten against African opposition in all 21 meetings. At the World Cup, they have won three and drawn three times against teams from Africa.
Source: SABCNews - 🏆 37. / 51 Read more »
LIVE: EFF press conference - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Economic Freedom Fighters holds a press conference to state its position on the happenings around the current developments. Is he going to talk about their hammering in the recent by elections?
Source: SABCNews - 🏆 37. / 51 Read more »
KEY STATS | Japan versus Croatia - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Croatia are undefeated in nine of their last 10 World Cup matches, their only loss in that run coming in the 2018 final against France when they were beaten 4-2. They finished runners-up in Group F in Qatar with five points from their three games.
Source: SABCNews - 🏆 37. / 51 Read more »