Russia’s exports of petroleum products to the United States more than doubled in the first half of 2020 compared to the same period last year, reaching their highest levels since at least 2004, Russian outlet RBC reported, citing Russian customs data. Russia’s oil products exports to the U.S. jumped to 9.1 million tons between January and June 2020, up from…
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U.S. refiners are feeling the pinch not only from the lower fuel demand, but also from the surging costs for complying with the biofuel requirements as refining and blending activity is lower than usual. Under the Renewable Fuel Standard (RFS), oil refiners are required to blend growing amounts of renewable fuels into gasoline and diesel. Refiners that don’t have the…
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The closure of oil ports in the Gulf of Sirte is the main reason for the power outages in eastern Libya, the National Oil Corporation (NOC) says. “By closing the ports in the Gulf of Sirte, the condensate reservoirs at the export ports will be filled within days, and thus the production of the gas associated with the condensate, which…
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A Kiwi technology start-up hopes its long-range wireless power transmission system will herald a brighter, cleaner future. Emrod has developed a system which converts electricity into electro-magnetic waves that can be sent wirelessly to receivers to be converted back into electricity for use in homes and businesses. In the long-term, founder Greg Kushnir believes the technology could reduce humanity’s dependence…
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ISLAMABAD (Thomson Reuters Foundation) – Pakistan this week set in motion a plan to boost the share of its electric power that comes from renewables to 30% by 2030, up from about 4% today, government officials said. “The targets in the newly announced policy are a 20% share of renewables in installed capacity of Pakistan’s power mix by 2025 and…
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Finally Renewable Energy Policy 2019 (now it may be called as Renewable Policy 2020) has been finally approved by Council of Common Interest (CCI) of Pakistan after a long debate amongst stake holders including provinces. I can say with confidence that this time consultation was much at larger stage than before and policy almost satisfies the stake holders interests. Policy…
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Power sector problems in Pakistan are acute, chronic, and have accumulated over decades. They are also multi-dimensional and not restricted to any one aspect of the sector. They all, however, have culminated into feeding the monster, “the higher-than-normal electricity prices”. There is no easy way out of the present quagmire. A carefully-crafted reform program will be needed to plug the…
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ISLAMABAD: The government has decided to auction unutilized capacity of LNG Regasification Terminals not under government’s use on a short-term basis, Business Recorder reported on Wednesday. Currently two LNG Regasification Terminals are operational, one each under Sui Southern Gas Company Limited (SSGCL) and Pakistan LNG Terminals Limited (PLTL). While SSGCL terminal is operating near capacity, the PLTL terminal is under-utilized with…
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ISLAMABAD: The government has initiated working on its plan to create Azad Jammu and Kashmir electricity distribution company (AJK Disco). However, the analogy of the AJK Disco will be as a bulk consumer that will purchase the electricity from three Discos of the country such as Iesco, Pesco and Gepco. AJK DISCO will go into the jurisdiction of Nepra and…
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ISLAMABAD: Independent Power Producers (IPPs) and government’s team are said to have completed four rounds of talks but “crucial things” are yet to be tabled and agreed between the parties, well-informed sources told Business Recorder. The newly-constituted committee representing the government is headed by Chairman Federal Land Commission Babar Yaqoob Fateh Muhammad and comprises an officer of Power Division not below…
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