Month: June 2021

The basic pitch for ‘net zero’ policies to combat climate change is this: a warming world will be devastating, but we can cut emissions down to next-to-nothing by using renewable energy technologies like wind and solar, which will keep on getting cheaper and cheaper. But the idea that we can have it all – energy that is plentiful, zero-carbon, and cheap – is a mirage, at least when it comes to renewables. Environmentalists’ bright promises of utilising solar energy to power the world are darkening quickly as it becomes clear…

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That is when all hell broke loose. Engro had no other choice but to tell the government that enough delays had happened and they needed to dock their ship. As a result, Sui Southern found itself in a position where they would be unable to provide gas for a couple of days, and as a result would have to pay liquidity to Sui Northern, with whom they have a contract to supply LNG. The energy ministry was sympathetic towards Engro, but the finance ministry was not so much. While these…

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The dry-docking in peak summer season will cost state-run energy companies and consumers around $40 million. In addition to the hefty price, the country is also facing an energy crisis if the Engro LNG terminal goes on dry docking after June 30, 2021. Sources said that the oil and gas companies had informed the government that consumers would be facing a burden of $25 million due to substitute fuel of furnace oil and high speed diesel in power plants to generate electricity. Sui Northern Gas Pipelines Limited (SNGPL) has take-or-pay…

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The government is going to introduce a new car financing scheme with a lower interest rate of 5 to 6 per cent to facilitate customers who are unable to buy a car after major price hikes during the past few years. According to an official at the ministry of Industries and Production, the government is interested in facilitating the customers of small cars of 850 cc to 1000 cc with reduced interest rate to facilitate maximum buyers. However, the financing facility would also be extended to cars of above 1000 cc.…

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