Energy “transition” is a buzzword used by many who associate it with the beginning of the end of natural gas to power our communities. For the past two decades, my firm has studied public perceptions related to energy issues using both quantitative and qualitative research across the United States. Over this time, support for the continued use of natural gas…
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Even before Russia invaded Ukraine, diesel fuel was in short supply due to a drop in global refining capacity.Now, with sanctions on Moscow, Russia’s fuel exports to Europe are down and there is a global scramble for supply that has sent prices to record levels.“When you’re seeing crude rallying, you’ve seen diesel outpacing it just because of supply concerns. We’re…
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The World Bank (WB) has said that managing uncertainty and preparing for future crises will be the centre of bilateral meetings with Pakistani authorities and also during IMF/ World Bank spring meeting to be held from April 18-23, 2022. In a letter to Minister for Economic Affairs, Omar Ayub Khan, World Bank’s Vice President, South Asia Region, Hartwig Schafer has…
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What could well turn out to be the last bid received for LNG spot tenders under this government, bids offered at $34.7 and $33.5/mmbtu, will go down as the highest ever received. Needless to say, the bids at such exuberant rates will not be entertained. This is fivefold higher than the cargoes secured from the spot market in the same…
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The power crisis across the country has intensified as the overall electricity shortfall reached 5000 megawatts, ARY News reported on Thursday. According to sources, the unannounced load-shedding has begun across the country as the electricity shortfall has reached 5000MW. Sources privy to the development said that several power plants working on gas, coal and furnace oil have been closed. The…
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The government has so far released funds amounting to Rs1,949.72 million to executeseven ongoing and six new petroleum-related projects under the Public Sector DevelopmentProgramme (PSDP 2021-22) against total allocation of Rs 3,249.54 million.Out of the total disbursement of Rs 1,949.72 million, around Rs313.43 million have been spent on thepetroleum during an eight-month period (July-February) of the current fiscal year to…
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Oil and Gas Regulatory Authority (OGRA) held a public hearing at Lahore on March 30, 2022, at PC Lahore to consider Sui Northern Gas Pipelines Limited (SNGPL)’s petition for Determination of its Estimated Revenue Requirements / prescribed prices for the next fiscal year. The petitioner has projected the average Prescribed Price at Rs920.88/mmbtu for FY 2022-23. The petitioner has also…
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Renewable energy power plants continue to dominate new power capacity additions in the United States. In December, approximately 80% of new power capacity in the country came from renewables, following an even bigger month of November in which the split was 90% for renewables. For the full year, renewables accounted for 83–84% of new power capacity. As you can see…
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Oil slumped as Russia said it was taking steps to “de-escalate” the conflict in Ukraine, while floating the possibility of a meeting between President Vladimir Putin and his Ukrainian counterpart Volodymyr Zelenskiy. The business secretary has effectively ruled out a windfall tax on North Sea oil firms to fund discounted energy bills but promised much greater investment in solar panels,…
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Futures in New York fell more than $7, briefly dropping below $100 a barrel before pairing some losses in the latest sequence of huge swings across the oil market. Moscow said it would sharply cut military operations near the Ukrainian capital of Kyiv, though troops had already been bogged down there for weeks. KEEP READING US consumer confidence edges up…
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