Until recently, the idea of a Fortune 500 company boss criticizing the energy transition would have been considered eccentric, to put it mildly. Now, two Fortune 500 bosses have slammed the transition inside a single week. JP Morgan’s Jamie Dimon was first. On Monday, he told CNBC in an interview that the Biden administration had basically messed up the country’s—and…
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General Electric (GE) plans to make major job cuts in its U.S. wind operations and will consider its other markets too as windfarms are proving to be a major expense in the wake of Covid and the Russian invasion of Ukraine. Continued supply chain disruption and the high cost of wind turbines are deterring companies from investing in wind energy,…
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On the top of a mountain overlooking the coal mines, the August weather brings a pleasant breeze during a lull in frequent rains. This area is around 16km from the city of Quetta and the mountainous terrain is dotted with coal mines, which provide sustenance to hundreds of miners working deep inside them. As I arrive in the area, I…
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Saudi state media announced Saturday that the kingdom will provide $400 million in humanitarian aid to Ukraine, following a Friday phone call between Crown Prince Mohammed bin Salman and President Volodymyr Zelensky. SPA stated of the call, “The crown prince expressed the kingdom’s readiness to continue efforts of mediation and support everything that contributes to de-escalation,” in reference to the…
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The total cost of generating electricity in the country jumped nearly 46%, hitting Rs9.91 KWh in September 2022 compared to Rs6.80 KWh registered in the same month last year. However, on a month-on-month (MoM) basis, electricity generation cost declined marginally by 1.5%. “On a MoM basis, the decrease in fuel cost is witnessed mainly due to a rise in wind…
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Minister for Planning Development and Special Initiatives Ahsan Iqbal Monday said that the incumbent government was committed to complete all the projects being executed under China Pakistan Economic Corridor (CPEC) without any delay. The minister gave the assurance to the Chinese Ambassador to Pakistan Nong Rong who called on him here today. During the meeting, matters related to mutual cooperation…
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Management of Sindh Transmission & Dispatch Company welcomed the delegation from Embassy of Denmark in Pakistan accompanying Ambassador H.E. Mr. Jakob Linulf, Mr. Saleem Anwar (Head of Communications & Projects) and Executives of Danish Energy Agency, Centre for Global Cooperation Agency Mr. Ulrik Eversbusch (Director), Mr. Nadeem Niwaz (Special Advisor), & Ms. Marie Bredkjaer Thomsen (Advisor).The dialogues were carried between…
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Gut-wrenching market volatility and attractive valuations are prompting some investors to keep their bullish views on energy stocks, one of the few bets that have thrived in an otherwise punishing year. It’s not an easy call. The S&P 500’s energy sector is already up around 46% this year and monetary policy tightening around the world has bolstered the chances of…
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Water and Power Development Authority (WAPDA) is actively pursuing six hydropower projects to add over 11,241 MW of environment-friendly hydel electricity to the existing 9,443 MW hydel generation in the coming years. Wapda officials told APP here that presently, the total installed capacity of 24 Wapda Hydel power stations stood at 9,443 MW and the addition of over 11,241 MW…
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