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Month: August 2022

China’s Power Crisis Could Spark A Spike In Coal Consumption

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A heatwave-induced power crisis is spreading across southwestern China, shuttering factories and worsening by the day, according to Nikkei Asia. The latest news from China is the Chongqing municipal government ordered factories, including Japanese-owned ones, to suspend production through Aug. 24 to conserve power as demand surges because of extreme heat. Chongqing is following its neighbor, Sichuan Province, which announced…

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Radical reforms, the only silver bullet for stubborn energy quandary

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power

Pakistan is presently in the midst of one of the worst economic crises in its history. High inflation, large twin deficits, dwindling forex reserves, fast weakening currency, and elevated Eurobond yields were all symptoms of an economy in severe distress. This is the consensus of this open letter written to all the politicians and the authorities by the country’s eminent…

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LONGi Awarded Environment Excellence Award 2022

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Considering LONGi’s mission and vision towards effective implementation of local and international environmental standards. The Governing Body of National Forum for Environment & Health (NFEH) decided to award LONGi 19th Annual Environment Excellence Awards (AEEA 2022)! It was received by Mr. Ali Majid, General Manager; Mr. Ghulam Mustafa, Senior Manager, and Mr. Osman Mohammad, Products and Solutions Manager of LONGi…

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Shell announces HY-2022 results

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The Board of Directors of Shell Pakistan Limited (SPL) announced the Company’s half year results on August 17th, 2022. The Company posted a profit after tax of Rs7.469 billion compared to the profit of Rs2.153 billion made in the same period last year. The encouraging turnaround is mainly driven by improved business performance focusing on strategic priorities such as differentiated…

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Natural Gas Demand Outpaces Production

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Natural gas demand in major consuming countries stood in June at 104 percent of year-ago levels, but production was flat compared to 2021 levels, new data from the Joint Organisations Data Initiative (JODI) showed on Wednesday. While U.S. natural gas production has been rising in recent months alongside LNG exports, Russian gas production has plummeted since Russia invaded Ukraine at…

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Oil prices will rebound to $125 this year as recent declines haven’t fully accounted for supply constraints, UBS says

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Oil prices have tanked more than 20% to trade under $100 a barrel, but Brent crude could see a reversal this year as supply in the global market remains tight, UBS said Wednesday.  Brent crude, the international benchmark, slipped during Wednesday’s session to $93.33 a barrel. The commodity has lost 25% since mid-June when it traded above $125 a barrel. The…

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Iran can fulfil Pakistan’s gas, energy demands: Miftah

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Federal Minister for Finance and Revenue Miftah Ismail Wednesday welcomed Pak-Iran cooperation in the energy and trade sectors, saying the government was determined to strengthen ties with the Islamic republic in all areas. In an exclusive interview with an Iranian news agency, Miftah Ismail said the Pakistan government under Prime Minister Shehbaz Sharif was ready to enhance relations with Iran…

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