Turkey has discovered further deposits of natural gas in the Black Sea, according to people familiar with the matter, and is likely to make an announcement soon. Initial data from the offshore Amasra-1 well show a significant amount of newly discovered gas, the people said, asking not to be identified while discussing confidential information. Turkish explorers last year found 405…
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The Oil & Gas Regulatory Authority (Ogra) has awarded a ‘gas-marketing licence’ to Shell Energy Pakistan (Pvt) Limited. Shell Energy Pakistan (Pvt) Limited has been incorporated with the aim of carrying out downstream gas marketing activities in Pakistan. It aims to aggregate demand from customers and secure competitive international supply to meet such demand. After evaluating its credentials, Ogra has…
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Pakistan has initiated work on a number of green financing instruments, buoyed by widespread global investor interest in the country’s first green bond floated in the international market last week. The development follows the growing concern in Pakistan that it’s one of the most vulnerable countries in the world to climate change, and has been hit hard by extreme weather…
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I know, you probably haven’t even driven one yet, let alone seriously contemplated buying one, so the prediction may sound a bit bold, but bear with me. We are in the middle of the biggest revolution in motoring since Henry Ford’s first production line started turning back in 1913. And it is likely to happen much more quickly than you…
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Renewable energy sources supplied just over half of Spain’s electricity demand for the month of May, new data has shown, boosted by a strong contribution from the nation’s wind farms. Estimates released this week by Spanish grid operator Red Electrica de Espana (REE) revealed that a mix of renewables including concentrating solar thermal and hydro generation produced 50.7% of Spain’s…
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The environmental law has been existing in Pakistan for the last 24 years but even then less than one per cent of wastewater generated in the country is treated before its discharge causing much environmental damage especially to the water bodies.This was one of the facts highlighted by the speakers at a seminar organised by the National Forum for Environment…
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The Oil Companies Advisory Council (OCAC) has rung alarm bells telling the government that the depleted condition of KPT oil piers can disrupt the import supply chain of petroleum products, especially Crude Oil and Mogas (petrol) resulting in potential dry out in the country. In a letter sent on May 25, 2021, to Federal Energy Minister Hammad Azhar and Petroleum…
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The efforts made by state-run gas companies to maintain their monopoly over the liquefied natural gas (LNG) market have put an additional burden of $99 million on gas consumers for the idle terminal capacity. The issue seems to be more serious compared to the capacity payments made to independent power producers (IPPs). Though the private sector has been ready to…
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SINGAPORE: Six companies have placed the lowest offers for a buy tender by Pakistan LNG for nine liquefied natural gas (LNG) cargoes to be delivered in July and August, according to a document posted on the company website. Vitol placed the lowest offer for three cargoes, while Qatar Petroleum Trading placed the lowest offer for two cargoes, according to the…
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SLAMABAD: The K-Electric has sought more than Rs5.6 billion worth of additional charges from consumers through monthly fuel cost adjustments (FCAs) for four months (January to April 2021) of the current calendar year. In its petition to the National Electric Power Regulatory Authority (Nepra), the Karachi-based private integrated power utility has requested the regulator to allow transfer of an additional…
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