Despite the perception that fossil fuels are directly at odds with clean energy development, oil and gas companies have a prominent role to play within the energy transition. In fact, oil and gas majors are some of the few companies that possess the financial resources, skill sets and innovation to transform present-day energy and economic systems, and as a result,…
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Demand for liquefied natural gas (LNG) is expected to rise by 25 to 50 percent by 2030, making it the fastest growing hydrocarbon over the next decade, analysts from Morgan Stanley Research said in a note on Monday. Morgan Stanley has raised its long-term LNG price outlook to $10 per million British thermal units (mmBtu), expecting spot prices of the super-chilled…
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The Ministry of Finance continues to keep mum about the outcome of its long negotiations with the International Monetary Fund (IMF) for the revival of its $6 billion Extended Fund Facility (EFF) as authorities reported to have received about $3.2bn in foreign assistance in the first quarter of the current fiscal year. Informed sources said the extended talks between the…
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With only a few days left until the 26th UN Climate Change Conference (COP26), 197 world leaders, along with tens of thousands of negotiators, government representatives, businesses, and citizens, are gearing up to participate in the 13 days of talks that will accelerate climate action and give the world a chance to limit the rise in global temperature to 1.5…
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Pakistan will ensure renewable energy makes up 60 percent of its total mix and 30 percent of all transport will be shifted to electric vehicles by 2030, the country’s Prime Minister has confirmed. Speaking at the Middle East Green Initiative Summit in Riyadh, Imran Khan talked up the initiatives Pakistan has already taken to develop clean energy as he climate change…
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Over 104 Chinese companies will take part in the three-day Pakistan Industrial Expo 2021 to be held at the Royal Palm Golf & Country Club from October 29, said Chris Zhu, the head of the firm organising the expo, at a press conference on Monday. He said that around 400 Chinese companies were to attend the fifth edition of the…
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There have been numerous mentions in the last three years of the mounting level of inflation in the country in public forums, countless meetings and multiple tweets by Prime Minister Imran Khan and myriad notices have been taken by him on the massive price hike and vows made to curb the menace. But the net result of all this has…
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Islamabad: 1st International Conference on Pakistan Hydropower Sector to be held tomorrow (October 27th) at Local Hotel in Islamabad to discuss more opportunities to produce cheap and clean energy from hydro sector as currently country is producing 9000MW from hydro power sector.The Energy Update in collaboration with Private Power Board Infrastructure (PPIB) is organizing the conference to be participated by…
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Pakistan is in discussions with China to revise contracts and reduce payments for power plants sponsored by the Belt and Road Initiative, Asad Umar, the South Asian nation’s planning minister, said in an interview. Pakistan is speaking directly to the Chinese government, as opposed to individual companies, Umar said NOTE: An enormous build-out of Chinese-financed power plants in Pakistan, which was…
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Engro Energy Limited (EEL) signed a Memorandum of Understanding (MoU) with the Sindh Transmission and Dispatch Company (STDC) and the Directorate of Alternate Energy (DAE), to establish a renewable energy park at Jhimpir, that will provide electricity to industry at Port-Qasim and Dhabeji. Under the terms of the MoU, Engro will be responsible to build the first hybrid solar PV…
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