A decade ago, fossil fuels accounted for just over 80 percent of final energy consumption in the world. During the last ten years, renewable energy has boomed, and installations continue to soar to record highs. But oil, gas, and coal still represent over 80 percent of final energy consumption, despite the rising share of renewable energy in the world’s total…
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After an extraordinary year of health and economic challenges, the global oil and gas sector has an essential role to play in the economic recovery. The same could however be said of any economic recovery and expansion over the past 100 years – during this time oil and gas companies have provided most of the primary energy that has fuelled…
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Wanting more is not always bad, but it is ironic that such an important sector has not been able to undertake any major refinery upgradation and expansion all these years despite one crisis after the other (read petroleum). More recently, the sector has been waiting for the latest refinery policy that has been in the consultation and approval stage for…
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A new analysis released recently by the American Council on Renewable Energy (ACORE) finds that confidence among both renewable energy investors and developers is at an all-time high. The report, “Expectations for Renewable Energy Finance in 2021-2024,” presents the results of a new survey of large financial institutions and renewable energy development companies on their confidence in the sector in the…
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Chairman of National Business Group Pakistan and President Pakistan Businessmen and Intellectuals Forum, Mian Zahid Hussain has said on one hand government has provided relaxations to the business community while on the other it is creating problems for them. The finance minister has hinted to reverse power of arrest from the assistant commissioners of FBR and now the decision will…
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Consumers of Punjab are set to face a massive increase in prices of compressed natural gas (CNG) as the government has imposed additional taxes on liquefied natural gas (LNG), which is used by CNG filling stations, in the budget for fiscal year 2021-22. CNG consumers in Punjab are using LNG – an imported fuel – because of shortage of locally…
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For businesses operating in the oil & gas sector, maintaining a strong community presence and effectively engaging in important conversations is a vital component of any corporate marketing strategy, buthow prepared is your business for a crisis? Unfortunately, it’s likely not a matter of if, but when a crisis or communications challenge will occur – making it particularly important for businesses in…
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Officials have cast doubts on a government plan that would somehow see Indonesia phase out all its coal-fired power plants while at the same time build more than a hundred new ones, while activists have welcomed the move. A key criticism of the plan is what to do with the 117 under-construction or planned coal plants, with a combined capacity…
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The Economic Coordination Committee (ECC) is said to have deferred its decision regarding payment to Independent Power Producers (IPPs) established under Power Policy 2002, well-informed sources in Finance Ministry told Business Recorder. Sharing details, sources said, the Power Division informed the ECC on June 16, 2021 that Cabinet Committee on Energy (CCoE) and ECC considered the Report by Implementation Committee and…
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That’s the consensus of a panel debating the global maritime shipping sector’s progress on what will be an expensive and complex voyage to decarbonization. And the role of liquefied natural gas (LNG) in accelerating that progress was a flashpoint in the panel discussion, which was organized in mid-May by shipping industry journal Lloyd’s List. For Jacob Sterling, LNG’s role is…
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