The German Solar Academy Network (GSAN) and Harmony Group Pakistan signed a Memorandum of Understanding (MoU) to establish their cooperation for the promotion and delivery of high-quality training, research and education in the field of Renewable Energy (with focus on Solar Energy) in the country, says a press release. The MoU is an outcome of the Pakistan-German Renewable Energy Forum…
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On Tuesday, President Joe Biden announced a ban on Russian oil imports in the most recent sanction to stop the conflict in Ukraine—a decision that has piqued curiosities to invest in renewable energy. The move marks the latest action that the US has taken to cripple the Russian economy in response to the war Russian president Vladimir Putin has waged.…
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The European energy crisis is escalating rapidly and with natural gas supplies in short supply, Europe is relying heavily on liquified natural gas (LNG) to meet its needs. Russia usually supplies around 40 per cent of Europe’s natural gas, used to heat homes and generate electricity. After the country’s invasion of Ukraine, the EU is now looking to cut its reliance…
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Such a prospect would have seemed impossible only a few weeks ago. Before war broke out, European nations were rolling out increasingly ambitious plans to phase out the carbon-intensive fuel even as gas prices rose, power plants were going offline and some countries were exiting coal completely. But Russia’s brutal attack on Ukraine has upended European energy markets, exposing the…
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Federal Finance Minister Shaukat Tarin has said that the government is providing a subsidy of Rs 104 billion per month to keep petrol prices at Rs 150 per litre; “at the current international rate, its actual price is Rs 240 per litre”. “We are expecting an economic growth rate over 5 percent this year and inflation will hover in the…
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Oil prices have continued their wild ride this week, with Brent swinging up and down in a $33 a barrel range after ending the wildest week on record last week amid twists and turns in the international response to the Russian invasion of Ukraine. Last week saw Brent Crude trading a massive $20 a barrel range, as the Russian invasion…
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Karachi Electric (KE) has expressed reluctance to purchase expensive spot-priced re-gasified liquefied natural gas (RLNG) from Pakistan LNG Limited (PLL), saying that any inequality in the RLNG pricing for PLL’s supply to KE as compared to the other power plants in the country should be avoided. The power utility, which intends to inaugurate first unit of 450 MW its RLNG-fired…
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National Electric Power Regulatory Authority (NEPRA) has increased electricity prices in the country and conveyed the decision to the federal government for a final nod, ARY NEWS reported. According to details, the power authority has sent the decision to raise the power tariff by Rs0.95 per unit to the government and clarified that it would be implemented after a notification…
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India’s coal imports from Russia in March could be the highest in more than two years, data from research consultancies showed, as Indian buyers continue buying the fuel from a market that is now increasingly isolated by sanctions. Vessels carrying at least 1.06 million tonnes of coking coal, mainly used for steelmaking, and thermal coal, used primarily for electricity generation,…
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The Economic Coordination Committee (ECC) of the federal cabinet has approved to implement a mechanism of fortnightly reimbursement of price differential claims (PDCs) of the oil marketing companies (OMCs) and refineries in order to avert shortage of petroleum products.Federal Minister for Finance and Revenue Shaukat Tarin presided over the ECC meeting on Monday.The Ministry of Energy (Petroleum Division) submitted the…
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