Year: 2021

The development of the times and technology, the use of energy in the world will continue along with the increase of population. Global energy demand is currently recorded to have increased three times since 1950 and its use is estimated to have reached 10,000 million tons per year. Most of the energy is produced from non-renewable materials such as coal, gas, petroleum, and nuclear energy. Besides being non-renewable, fossil-based energy is also not environmentally friendly because burning fossil fuels produces CO2 gas which can cause global warming. Based on the…

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Pakistan Steel Mills (PSM) on lease to build a tie-in point for two new LNG terminals. Sources told The Express Tribune that SSGC was initially reluctant to acquire the land for establishing the tie-in point, however, the company agreed after intervention from Petroleum Division Secretary Dr Arshad Mahmood. Now, it has acquired nearly 17 acres of land from PSM on lease. The LNG terminals are being set up by private parties. The Petroleum Division had informed the Cabinet Committee on Energy (CCOE) in a meeting that the issue of tie-in…

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Demand for coal from the electric power sector is expected to increase by 84 million short tons in 2021. Production growth is unlikely to match the increases in demand in the near term due to many coal mines operating at a reduced capacity and limited available transportation, according to the report’s findings. In 2022, coal production is expected to increase by 34 million short tons to 622 million short tons, as the production and transportation constraints experienced in 2021 ease. Secondary inventories of coal at electric utilities decreased in the…

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Renewable energy employment worldwide reached 12 million last year, up from 11.5 million in 2019, according to the eighth edition of Renewable Energy and Jobs: Annual Review 2021. The report was released by the International Renewable Energy Agency (IRENA) in collaboration with the International Labour Organization (ILO) at a high-level opening of IRENA’s Collaborative Framework on Just and Inclusive Transitions, co-facilitated by the United States and South Africa. The report confirms that COVID-19 caused delays and supply chain disruptions, with impacts on jobs varying by country and end use, and…

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Engro Corporation’s profit contracted 26.7% to Rs11.4 billion during the quarter ended September 30, 2021 owing to a spike in other expenses and finance cost. According to a notice sent by the company to the Pakistan Stock Exchange (PSX) on Friday, it had posted a profit of Rs15.5 billion in the same quarter of previous year. Earnings per share of the enterprise dropped from Rs16.12 during July-September 2020 to Rs10.62 in the same quarter of current year. Alongside the result, the company announced a cash dividend of Rs5 per share,…

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