The spot price of the U.S. natural gas benchmark Henry Hub hit record lows in the first half of 2020 due to mild winter early in the year and depressed demand later on with the pandemic, the Energy Information Administration (EIA) said on Monday. The average monthly Henry Hub spot price in the first six months of 2020 was $1.81…
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Crude oil production has already peaked in the United States, according to a leading independent oil producer in the U.S. shale patch. Chief executive of Parsley Energy Matt Gallagher said that the peak production that the United States hit back in March—13.1 million bpd on average—represented shale’s glory days, ne’er to be repeated, according to the Financial Times. That forecast…
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ISLAMABAD: The Ministry of Energy on Sunday censured the K-Electric management for shifting responsibility to the government for power outages in Karachi. In a statement, a spokesperson for the Ministry of Energy said the fact was that KE had not made necessary investment in its distribution system that was incapable to off-take additional electricity from the national grid despite repeated…
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Dongfang Electric Corporation (DEC) sent off the prototype 10 MW offshore anti-typhoon wind turbine from its factory to the project site at the end of June. The height of the installed unit is about 115 metres above sea level. The 10 MW wind turbine, with a rotor diameter of 185 metres, can meet the average power consumption of 20,000 households annually. After…
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The market hates independent power producers (IPPs) right now, and one that has been running for 35 years is probably at the bottom of the totem pole as far as investor interest is concerned. Add in a power purchase agreement (PPA) that is expiring next year, and investors absolutely could not be bothered with the company in question. Yes, it…
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The historic oil price crash and Covid-19 pandemic have left major producers of the commodity in a deep economic crisis. Dramatic production cuts by OPEC+ has exacerbated the situation by further lowering export inflows for economies that depend heavily on oil dollars. Some, such as the UAE, have tried to put on a brave face by touting the strength of…
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July 13, 2020, Islamabad— The Ministry of Climate Change and UNDP hosted a media briefing today to celebrate Pakistan’s achievement of Sustainable Development Goal 13: Climate Action, well before the 2030 deadline. The recent release of the 2020 Sustainable Development Report shows that out of 17 goals, Pakistan has achieved the Climate Action goal under which countries are required to take…
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Russia has become the first nation to complete clinical trials of Covid-19 vaccine on humans, and the results have proven the medication’s effectiveness, the media reported on Sunday. Chief researcher Elena Smolyarchuk, who heads the Center for Clinical Research on Medications at Sechenov University, told Russian news agency TASS on Sunday that the human trials for the vaccine have been…
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The lifting of the ban on construction and development works in Gwadar is welcome. This initiative of Gwadar Development Authority will promote construction activities in Gwadar which will not only speed up the work of construction industries but also support the small scale industries associated with it which will prove to be a source of economic growth. The current situation is that…
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With Iran and China working on a multibillion-dollar 25-year economic and security deal, Israel has many reasons to be concerned and even alarmed.The proposed agreement, leaked to The New York Times, which reported on it on Saturday, would lead to a closer military relationship between Tehran and Beijing, including joint military exercises, research and weapons development and intelligence sharing. It…
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