(Bloomberg) -- The world’s first shipment of blue ammonia is on its way from Saudi Arabia to Japan, where it will be used in power stations to produce electricity without carbon emissions.Saudi Aramco, which made the announcement Sunday, produced the fuel, which it does by converting hydrocarbons into hydrogen and then ammonia, and capturing the carbon dioxide byproduct. Japan will receive 40 tons of blue ammonia in the first shipment, Aramco said.Ammonia can be burned in thermal power stations without releasing carbon emissions. That means it has “the potential to make a significant contribution to an affordable and reliable low-carbon energy future,” according to state-controlled Aramco.Japan aims to be a world-leader in the use of hydrogen, which is contained in ammonia. The country has committed to reducing its greenhouse gas emissions 26% by 2030 from 2013 levels, under the Paris climate pact.Blue ammonia is a feedstock for blue hydrogen, a version of the fuel made from fossil fuels with a process that captures and stores C02 emissions. Hydrogen from renewable energy that creates no emissions is known as green hydrogen.Saudi Arabia, the world’s biggest oil exporter, is increasingly trying to counter its reputation for producing dirty energy. In recent months, Aramco has highlighted the low volume of greenhouse gases emitted from pumping Saudi crude, programs to boost gas production and plans to grow carbon-absorbing mangroves.U.S. firm Air Products & Chemicals Inc. signed an accord in July with Saudi-based ACWA Power International and the kingdom’s planned futuristic city of Neom to develop a $5 billion hydrogen-based ammonia plant powered by renewable energy.Saudi chemicals maker Sabic -- majority-owned by Aramco -- and Mitsubishi Corp. are overseeing transport logistics for the blue ammonia project in partnership with JGC Corp., Mitsubishi Heavy Industries Engineering, Mitsubishi Shipbuilding Co. and UBE Industries.“This world-first demonstration represents an exciting opportunity for Aramco to showcase the potential of hydrocarbons as a reliable and affordable source of low-carbon hydrogen and ammonia,” said Aramco’s chief technology officer, Ahmad Al-Khowaiter.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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Prince Harry Seemed "Regretful" and "Tense" During His Time 100 Interview, Body Language Expert Says
"Harry would have been well aware of the potential fall-out..."
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UFC president Dana White gives his biggest star, Conor McGregor, a lot of leeway most times. It appears the Irishman crossed an invisible line recently.White responded to a recent tweet in which McGregor posted screenshots of a private messaging conversation between the two earlier this year. McGregor was tweeting about how he had asked for a fight with Diego Sanchez and how the White quickly shot down the idea. McGregor was trying to explain how he had tried to line up several fights this year, but grew tired of the UFC not lining them up quickly enough. That eventually led to him announcing his retirement in June.Outing the conversation publicly didn't sit well with White, who commented about it after UFC 253 on Saturday night on Fight Island in Abu Dhabi."This is some man-code stuff. It's just something you don't do. It's one of the dirtiest things you can do," White said.He also went on to criticize McGregor asking to fight Sanchez. Though Sanchez won the inaugural season of The Ultimate Fighter and is in the UFC Hall of Fame for his spectacular fight with Clay Guida in 2009, he hasn't been a legitimate contender in any division for the past decade.Diego Sanchez is exciting, yes. Fans typically love to watch him fight, but McGregor is still near the top of the lightweight division. White questioned McGregor's logic."When you're the number two or three ranked guy in the world and you're telling me that you want to fight, but you want to fight un-ranked, 39-year-old Diego Sanchez in a main event in Los Angeles?"https://twitter.com/TheNotoriousMMA/status/1309554699671080960 * * *TRENDING > Conor McGregor says he’s boxing Manny Pacquiao next in the Middle East* * * What about Conor McGregor boxing Manny Pacquiao?Around the same time he was tweeting about asking to fight Sanchez, McGregor also tweeted about his next fight... although he has insisted to this point that he is retired.Seemingly, another slap in the face of the UFC, McGregor tweeted, "Anyway all water under the bridge who gives a fook. I’m boxing Manny Pacquiao next in the Middle East."White said that he had "no idea" how valid a fight between McGregor and Pacquiao might be.Although McGregor publicly retired from fighting, he remains under contract with the UFC. So any bout with Pacquiao would need the promotion's blessing to move forward.Though he didn't address such a possibility, White curtly pointed to McGregor's supposed retirement."You guys have been asking me about Conor McGregor forever. Did you see Conor McGregor's tweet? The retirement tweet. I'm retired - birthday cake - I'm retired."* * * Trending Video > Dana White addresses latest Conor McGregor sexual assault allegations(Subscribe to MMAWeekly.com on YouTube)
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Satori Fund Founder & Portfolio Manager Dan Niles joins Yahoo Finance’s Zack Guzman to discuss the recent market volatility amid the coronavirus pandemic.
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'My dad was a small-town banker': Why one of Congress's toughest questioners of the big banks says they aren't all bad
During her two years in Congress, Rep. Katie Porter has made a name for herself as one of the banking industry’s biggest critics. But she doesn’t necessarily think all banks and their CEOs are bad.
(Bloomberg) -- Former billionaire Anil Ambani rejected a judge’s comment that he lived a “lavish lifestyle” as he faced questions about his assets from lawyers acting for a trio of Chinese banks.Ambani was giving evidence via videolink for the first time from Mumbai, in a English lawsuit over a dispute stemming from a defaulted loan. The tycoon, who has previously said his net worth is “zero,” was questioned about his spending and his finances, including more than $100 million in family loans.Three state-controlled Chinese banks have pursued Ambani for more than $700 million in a London court, arguing that they provided funding to his Reliance Communications Ltd. in 2012 with the condition that he personally guarantee the debt. After winning a ruling requiring Ambani to make the payments, the banks have yet to receive any funds.“He’s fighting tooth and nail to prevent having to pay us a penny,” the banks’ attorney, Bankim Thanki, said of Ambani.Ambani, the younger brother of Asia’s wealthiest man, said that a judge was wrong to say he’d lived a lavish lifestyle, insisting that he was a marathon runner who didn’t drink, smoke or gamble.“I think I must put it respectfully in perspective,” Ambani said. “My needs are not vast and my lifestyle is very disciplined.”“Any suggestion of a lavish lifestyle past, present and future is completely speculative,” he said.Ambani was accused of putting his assets out of the reach of his creditors by putting the ownership in corporate entities. The family art collection was owned by his wife, he said. The luxury motor yacht, which was used family members -- but not Ambani himself, who said he suffered from seasickness -- was also owned by a company, he said.Ambani had always said he never made a personal guarantee -- something he’d dismissed as an “extraordinary potential personal liability.”On Friday, Ambani was examined over credit-card spending in luxury shops including Harrod’s that he said was done by his mother on his cards. He was also questioned over a $66 million loan provided by his mother, Kokilaben Ambani, and a $41 million loan from his son. He said he couldn’t recall the terms of the loans but insisted they weren’t gifts.The former billionaire “has always been a simple man of simple tastes, contrary to exaggerated perceptions of his flamboyance and lavish lifestyle,” a spokesman for Ambani said in a statement. “He is also a lifelong vegetarian, teetotaller and non-smoker who would much rather watch a movie at home with his kids than go out on the town.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
To quote the iconic André Leon Talley, "My eyes are STARVING for beauty!"