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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Iran needs some $11 billion in investments to develop oil fields along its border with Iraq, Bloomberg has reported, citing the new head of the National Iranian Oil Company Mohsen Khojastehmehr. Where the money would come in remains as of yet unclear after Trump administration sanctions drove foreign companies out of the country. The sanctions are still in place under…
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China will gradually reduce the share of fossil fuels in its energy mix until it reaches 20 percent or lower fossil fuel use by 2060, the authorities of the world’s top crude oil importer said on Sunday. China also reiterated that its carbon dioxide (CO2) emission will have peaked by 2030, according to a document jointly released by the Communist…
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WTI crude hit the psychologically important $85 per barrel mark earlier on Monday—the highest the U.S. crude benchmark has traded since October 2014. WTI prices eased later in the afternoon, with the benchmark falling back to $84.02—still up on the day and up about 20% month on month. The skyrocketing crude prices are largely the result of gas-to-oil switching amid…
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Tesla has just received the single largest order for electric vehicles in the world, after car rental giant Hertz said on Monday it had placed an order for 100,000 Teslas by the end of 2022, which, according to Bloomberg, would be worth $4.2 billion in revenues for the U.S. EV manufacturer. “As consumer interest in electric vehicles (EV) skyrockets, Hertz…
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The COP26 climate summit is set to begin next Sunday in Glasgow. The summit has been touted as one of the most important international events for the past few years—an event where world leaders will attempt to come up with a concerted effort to reduce emissions. But there are multiple factors working against the summit’s success. As many as 25,000…
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India will bargain for supply of undelivered gas quantities of past years when it negotiates renewal of its multi-billion dollar LNG import deal with Qatar, an official said.Petronet LNG Ltd’s 7.5 million tonnes a year liquefied natural gas (LNG) import deal with Qatargas is ending in 2028. Renewal, if any, has to be confirmed 5 years ahead of that. Talks…
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