ne of the programs of the Energy Ministry in the current fiscal year (started March 20) is to use gas condensates for gas turbines in power plants, Energy Minister Reza Ardakanian said in a video conference with the provincial power officials on Monday. The advantages of using gas condensates in turbines instead of natural gas is that it has lower…
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Iran and the United States must take a political decision within days to prevent the failure of indirect talks on reviving the 2015 nuclear deal after 11 months of negotiations rocked by a last-minute Russian demand of a sanctions exemption. The European Union’s top envoy Enrique Mora, who coordinates the talks, tweeted: “Just to clarify. There are no longer ‘expert…
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Crude oil prices fell to their lows of the day and European natural gas prices retreated after German Chancellor Olaf Scholz said that Europe’s largest economy has no option but to keep buying Russian oil and gas. “At the moment, the supply of energy for heating, for mobility, for electricity generation and for industry cannot be secured any other way,”…
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The K-3 unit of the Karachi Nuclear Power Project in Pakistan, the fourth entity to use a China-designed third-generation nuclear reactor, has been successfully connected to the grid, laying solid foundations for commercial operation. All four of the units adopting China’s Hualong One nuclear reactor now connected to the grid are generating electricity, Global Times reported while quoting China National Nuclear…
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Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance and Former Provincial Minister Mian Zahid Hussain on Monday said rising oil prices are affecting energy security, food security, and global GDP. Inflation and poverty are on the rise across the globe while the global economy is heading for a recession which will…
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Oil buyers racing to replace Russia’ taboo crude are paying record premiums for barrels that can be delivered now rather than later, reflecting worries about adequate near-term fuel supplies and expectations that high prices will reduce consumption and encourage drilling. Prices for April deliveries of crude have shot up since Russia invaded Ukraine and buyers began shunning the aggressor’s oil…
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Environmentalists say government regulators should take a pass on any liquefied natural gas proposals in Nova Scotia, and that efforts to expand alternative energy resources should be stepped up. Calgary-based Pieridae Energy recently confirmed it is looking at pursuing a floating LNG terminal near the coast of Goldboro in Guysborough County. The move follows a decision by the company last summer to abandon plans…
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China will boost the production of more modern coal mines and enhance coal reserve capacity, and aims to increase the government-deployable storage to 5% of local consumption, the country’s state economic planner said on Saturday. The National Development and Reform Commission (NDRC) also said in a statement during the annual parliament gathering that it will guarantee coal transportation and further improve coal pricing mechanisms. The promises…
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Oil major Shell has sought to defend its decision to buy a heavily-discounted consignment of oil from Russia, saying it would commit the profits to a fund dedicated to humanitarian aid for Ukraine. On Friday, Shell purchased 100,000 metric tons of flagship Urals crude from Russia. It was reportedly bought at a record discount, with many firms shunning Russian oil…
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The Senate Standing Committee on Power has sought details of Asian Development Bank (ADB) loan meant to install Advance Metering Infra-structure (AMI) meters in Iesco, after Minister for Science and Technology, Senator Shibli Faraz raised eyebrows on the selection of efficient Discos for the project. At a recent meeting of the Committee, presided over by Senator, Saifullah Abro, Senator Shibli…
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