Oil major Exxon Mobil Corp said on Monday it planned to reduce its greenhouse gas emissions over the next five years, as investors and climate change campaigners ratchet up the pressure for action to limit global warming. The move comes after the Church Commissioners for England on Thursday joined growing investor campaigns to demand changes at Exxon and backed calls…
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ISLAMABAD: The second attempt by Pakistan authorities to arrange import of liquefied natural gas (LNG) in January through emergency bidding has attracted record high prices. In a desperate attempt to fill the gap arising out of no bids for LNG vessels between Jan 8-18, the government exercised emergency clauses of the procurement rules to allow Pakistan LNG Limited (PLL) for…
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ISLAMABAD: A commission of inquiry formed in July this year to probe into a sudden shortage of petrol in the country has noted that one of the reasons behind the crisis was a lack of coordination among the departments working under the Petroleum Division. This is revealed in a report of the Federal Investigation Agency (FIA) led inquiry panel. The…
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Power generation on the NTDC system increased by 7 percent year-on-year for October 2020 at 10.2 billion units, taking the 4MFY20 generation higher by 3 percent year-on-year. As anticipated and flagged earlier in this space, furnace oil is gradually being withdrawn as the demand cools down. Recall that FO and HSD based power generation has increased by a massive 34…
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ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) board of directors has turned down reports of intelligence agencies and has recommended the same candidates for appointment as head of the public utility. Earlier, the Prime Minister’s Office had sought report of intelligence agencies on the credentials and financial integrity of existing SNGPL Acting Managing Director Amer Tufail and SNGPL General Manager…
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ISLAMABAD-The Petroleum Division (PD) on Sunday shared a comparative statement about the purchase of Liquefied Natural Gas (LNG) for a period from December-2017 to January-2021, which showed the government procured the commodity at the lowest rate for the current and next months. According to the statement placed on the official Twitter account of the Petroleum Division, the government procured as…
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Saudi Arabia says an oil tanker was attacked by an explosive-laden boat while it was anchored at Jeddah’s port. The overnight attack at the facility’s fuel terminal resulted in a small fire on board that was extinguished, the energy ministry told state media. The owner of a Singapore-flagged tanker, BW Rhine, earlier said that it had been “hit from an…
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ISLAMABAD – Pakistan Prime Minister Imran Khan announced Saturday that his country would have no new coal-fired power generation as part of its contribution in global efforts against climate change. Khan gave details of the substantial undertaking while addressing the international Climate Ambition Summit 2020, held virtually because of the coronavirus pandemic. The United Nations, United Kingdom, France, Chile and…
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ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet, expected to meet on Wednesday, would be taking up a heavy agenda, including $200 million rupee-linked offshore bonds, revised markup rates on federal loans for provinces and public sector entities, the Rs739 billion Karachi Transformation Plan (KTP) and the first phase of the rationalisation plan for federal subsidies. Informed sources told Dawn that…
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On one hand, the energy transition is real and here to stay. On the other hand, there are 280 million cars on the road in the U.S. today, 279 million of them running on oil, and the average lifespan of a vehicle is 12 years,” Bob Maguire, managing director of Carlyle Group, October 2020. For the U.S. oil & gas…
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