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Cision Canada
02-07-2025
- Business
- Cision Canada
CURVE ENERGY CORP. ANNOUNCES NON-DISCLOSURE AGREEMENT WITH SAUDI ARAMCO TECHNOLOGIES
VANCOUVER, BC, July 2, 2025 /CNW/ - Curve Energy Corp. (the " Company" or " Curve") confirms that its wholly owned subsidiary, Curve Energy Pte Ltd, has entered into a Non-Disclosure Agreement (NDA) with Saudi Aramco Technologies Company, a wholly owned subsidiary of Saudi Aramco. The NDA formalizes ongoing discussions and the exchange of information between the two parties. About Curve Energy Corp. Curve Energy Corp. is a technology-driven company pioneering advanced green chemistry solutions for the maritime fuel industry and broader energy markets. The company's patented desulfurization technology upgrades Heavy Fuel Oil (HSFO) by removing sulfur, upgrading it into Very Low Sulfur Fuel Oil (VLSFO) under near-ambient conditions. Curve's technology eliminates the need for carbon-intensive SMR hydrogen desulfurization, blended fuels, and scrubbers. It also demonstrates the ability to reduce additional pollutants such as nitrogen oxides (NOx) and vanadium pentoxide (V₂O₅), supporting evolving multi-pollutant emissions standards. For more information about Curve, visit On behalf of the Board of Directors Peter Joyce Chief Executive Officer Forward Looking Information This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward – looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the anticipated timing and completion of the Transaction; the expected continuance of the Company into British Columbia and adoption of new corporate articles; the anticipated approval of the TSX Venture Exchange; and the upsize of the private placement. These forward – looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the risks that the Transaction may not be completed as currently anticipated or at all; required regulatory or third-party approvals, including TSX Venture Exchange acceptance, may not be obtained or may be delayed; the Company may not complete its continuance into British Columbia or adopt the proposed new corporate articles; the conditions to closing of the Transaction may not be satisfied by the extended completion deadline; the upsized private placement may not be completed as anticipated, or at all; and general business, economic, competitive, market and regulatory factors may adversely affect the resulting issuer's business and operations. In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the Transaction will proceed as currently contemplated; all necessary regulatory and third-party approvals, including TSX Venture Exchange acceptance, will be obtained in a timely manner; the parties will be able to satisfy the closing conditions on or before the extended completion deadline; the continuance of the Company into British Columbia and adoption of new corporate articles will be implemented as approved by shareholders; and the private placement will be completed as anticipated. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
RTÉ News
20-06-2025
- Business
- RTÉ News
Moneypoint Power Station to end coal burning after 40 years
After 40 years of operation ESB is to cease burning coal at its Moneypoint Power Station in Co Clare from today. However, the plant will continue to provide security of supply for Ireland's electricity system by operating as a back-up out-of-market generator of last resort for Eirgrid. It will use heavy oil for electricity generation in place of coal for the next four years. ESB is continuing the transformation of its Moneypoint power station, at Kilrush in Co Clare, into a renewable energy hub by ending the use of coal for electricity generation six months earlier than planned. It is a significant milestone in the organisation's Net Zero carbon emissions strategy. Two years ago, it signed an agreement with EirGrid to keep the plant generating electricity using oil from 2025 up to 2029. It will only be required to operate when the electricity system is short of generating capacity, and only under instruction from EirGrid. Oil generation is less carbon intensive than coal generation, and the station is expected to see significantly less running during this four-year period. Moneypoint will remain a key site for ESB and for the Mid-West region as the station evolves and transforms to support the Irish government to achieve its climate targets. ESB commenced its transition away from fossil fuel generation at Moneypoint in 2017 with the construction of a 17MW onshore wind farm. In 2021, it announced Green Atlantic at Moneypoint, a multi-billion-euro plan to transform the site into one of the country's largest renewable energy hubs, utilising its deep-water port and existing infrastructure. Phase one of this plan was completed in 2022 with a €50 million investment in Ireland's first synchronous compensator, a zero-carbon technology that allows the system to utilise ever increasing amounts of use of renewable electricity. The Moneypoint power station has been operating since the mid 1980s. It contains three separate coal-fired power generating units, capable of producing up to 305 MW of electricity each, giving the plant a total electricity generation capacity of 915 MW. At its peak of operation, it was capable of supplying about a quarter of Ireland's total electricity needs. However, in recent years its contribution has been significantly lower than that. Before the Moneypoint station was built Ireland was very heavily dependent on imported oil for the generation of electricity. However, the oil crises of 1973 and 1979, and the crippling shortages that resulted, underscored domestic and international fears about the security of that oil supply. It was because of that it was considered a good idea to include a substantial coal-fired power station in the electricity production mix. Coal is the most carbon intensive of all fossil fuels and is about 25% more carbon intensive per unit of electricity generated than Heavy Fuel Oil it replaced. However, back in the 1980's when Moneypoint was commissioned very little attention was paid to the issue of carbon emissions from burning fossil fuels for electricity. It that regard is perhaps ironic now that, as Ireland is ending the use of coal for electricity generation because of climate policy, it is temporarily reverting to burning the same type of oil for electricity that was being used before the three coal-fired units at Moneypoint were commissioned in the first place. This time round however, Moneypoint will not be active in the wholesale electricity market and will in effect only be operated for limited hours. It will be used as a back-up, out of market generator, that Eirgrid can call on any time they need extra generation capacity to ensure a stable supply of electricity for the Irish market. This means nevertheless that it will remain a critical station for the security of supply for the Irish electricity system, particularly over the winter period, and it will still be a significant source of carbon emission because it will burn a fossil fuel, oil. ESB has installed two massive heavy fuel oil storage tanks at Moneypoint with a capacity between them of 50,000 tonnes. Prior to this, the plant had the capacity to store enough coal for the generation of up to three months' supply of electricity. It is intended that the back-up generation of electricity at the plant using heavy fuel oil will cease in 2029.
Reuters
08-05-2025
- Business
- Reuters
Indonesia's Karimun terminal becomes key Russian oil hub, sources say
Summary Jump this year in Russian oil product flows into Karimun Fuel oil loading hit fresh highs in March out of Karimun Russian flows at Karimun surge after terminal sold last year SINGAPORE, May 8 (Reuters) - Indonesia's Karimun terminal has ramped up imports of Russian oil products to become a key transshipment hub where traders store cargoes whose countries of origin are rebranded before re-export, according to eight industry sources and ship-tracking data. Russian oil exports have shifted to Asia from Europe in the aftermath of Moscow's 2022 invasion of Ukraine as Western sanctions aimed at limiting Moscow's oil revenue make direct imports from Russia difficult for many buyers. A system of traders, shippers and transshipment points, including the floating hub along the Malacca and Singapore Straits and Fujairah in the United Arab Emirates, have helped keep Russian oil and products flowing, despite the sanctions. Since October, the terminal, located in a free trade zone on an island about 37 km (23 miles) southwest of Singapore, has received Russian oil products every month, ship-tracking data from Kpler showed, with exports to destinations in Malaysia, Singapore and China. Before that, the data shows, Russian oil product arrivals at Karimun were only sporadic. More than 500,000 metric tons (3.2 million barrels) of fuel oil loaded from Russia's Ust Luga oil terminal has arrived at Karimun so far this year, nearly five times the volume in the corresponding 2024 period, Kpler data showed. Some 217,000 tons (1.6 million barrels) of Russian diesel have arrived at Karimun this year, versus none last year, while this year's imports of more than 50,000 tons (450,000 barrels) of Russian naphtha are up slightly from a year earlier. Karimun exported a record 590,000 tons of oil products in March, Kpler data showed, helping keep Asia well-supplied with refined products, particularly high-sulphur fuel oil, which traded into discounts to Singapore quotes, sources said. The sources spoke on condition of anonymity as the matter is a sensitive one. Indonesia's energy ministry said it did not have information on activities in Karimun because it is a free trade zone and thus beyond its authority. Officials at Indonesia's coordinating ministry of economics, which is part of the special economic zone and the free trade zone board, did not respond to requests for comment. Dubai-based Novus Middle East DMCC, which bought the 720,000 cubic metre PT Oil Terminal Karimun in the second quarter last year from Germany's Oiltanking, did not respond to a request for comment. PT Oil Terminal Karimun also did not respond to a request for comment. SANCTIONED TANKERS Russia's share of oil imports at the Karimun terminal jumped to more than 60% from October and were as high as 100% in April, Kpler data showed, up from between zero and 26% a month in the first half of 2024. At least three cargoes arrived at Karimun in March and April on tankers sanctioned by the European Union or Britain, Kpler data showed. Some of these cargoes are blended before getting re-exported, three of the sources said. The cargoes are traded through intermediaries, often obscure trading firms that frequently change their names, before heading to their final destinations, the eight sources said. Tan Albayrak, an international trade lawyer focusing on economic sanctions and export controls at Reed Smith LLP, said that while a storage facility could be exposed to sanctions by receiving cargoes from a sanctioned vessel, blending or refining the products themselves would provide a new country of origin. "If the received oil product was genuinely transformed into another oil product, then it will be considered Indonesian origin such that the Russia sanctions will no longer attach to product," Albayrak said. "At that point, there would not be an exposure to players down the chain, such as traders or buyers," he added.
