he ongoing energy crunch has put a lid on what seemed to be the ideal bull run for this year’s autumn season – OPEC+ has maintained rigorous discipline even after it concluded a new supply cut agreement until end-2022, whilst demand for energy was growing much more robustly than anyone anticipated. Power consumption mandates, production cuts and electricity shortages have,…
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Modelling shows the future of fossil fuel exports that drive regional economies is grim, complicating the Prime Minister’s message to the Nationals that regional Australia will be shielded from losses under his push to commit to net zero emissions by 2050. The Reserve Bank of Australia’s recent analysis of coal and gas exports shows the industries would at least halve…
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We expect 22% more U.S. coal-fired generation in 2021 than in 2020, according to our latest Short-Term Energy Outlook (STEO). The U.S. electric power sector has been generating more electricity from coal-fired power plants this year as a result of significantly higher natural gas prices and relatively stable coal prices. This year, 2021, will yield the first year-over-year increase in…
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Overall production of petroleum commodities has witnessed an increase of 2.35 percent during the first two months of current financial year 2021-22 as compared to corresponding period of fiscal year 2020-21. The Petroleum, Oil and Lubricants (POL) products that showed positive growth include Jet Fuel Oil the production of which increased by 14.40 percent during the period under review, Pakistan…
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Auditor General of Pakistan (AGP) has yet to get access to core record of regulatory bodies despite directive of the Public Accounts Committee (PAC) that all government organisations are subject of audit under the Constitution. The AGP has mandate to complete audit of the regulators. The audit officials will not only audit the expenditures of the regulatory authorities but also…
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The Oil and Gas Development Company’s (OGDCL)’s production of Liquefied Petroleum Gas (LPG) witnessed a 9 per cent increase and crude oil 2 per cent during the last fiscal year. “Despite natural decline at various mature producing fields, the company’s average daily net LPG production clocked in at 803 tons portraying an increase of 9% largely due to start-up of…
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European natural gas prices jumped Monday after Russia booked little additional pipeline capacity to move more supplies to the continent next month. Gazprom PJSC booked no additional capacity for November through Ukraine during an auction Monday. The company took only about 35% of the available capacity via Belarus and Poland next month. The auction’s results came despite Russian President Vladimir Putin’s…
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If concrete were a country, it would be the third largest emitter of greenhouse gases on Earth, behind only China and the United States. According to the Global Cement and Concrete Association (GCCA), around 14 billion cubic metres of concrete are cast each year. How can this material, essential for global housing, construction and infrastructure, be made less damaging to the planet? – How bad can…
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With consumers bracing for an expected gas shortage during winter, furnace oil (FO) is poised to make a comeback for meeting the power generation needs of the country. Unlike last year, the gas crisis was likely to hit during peak winter (November and December), when the share of hydropower in the overall electricity generation mix declines considerably amid lower water…
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A coal shortage is threatening the global economic recovery. Blackouts could spread from China and India to all the emerging economies still mostly reliant on coal. As supply can’t be ramped up in the near term, the shortages could worsen as energy demand rises with winter’s arrival. That may trigger another emerging-market crisis. The coal price has more than tripled in a…
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