In a new development, Pakistan has restarted talks with Azerbaijan on the latter’s offer made in late 2016 for providing Mogas on credit besides the current negotiations for distressed LNG at an affordable rate, a senior official of the Energy Ministry told The News. Both countries earlier inked an Inter-governmental Agreement (IGA) in 2017 under which Azerbaijan’s state-owned SOCAR was…
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Growatt, a global leading distributed energy solution provider, signed a Memorandum of Understanding (MoU) with Trisun Energies, a Karachi-based renewable energy company, to deepen their cooperation in the Pakistan solar market earlier this month. According to the agreement, Growatt will supply Trisun Energies with up to 100MW of string inverters in 2023. And the MoU was signed in the context…
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The government has decided to link Thar coal and Port Qasim (PQ) with Pakistan Railways network through Rs 58.240 billion project in order to provide bulk transportation facilities as per requirement of the economy. Sources said that the PC-I of the project has been prepared and is expected to be approved soon. They added that the total project cost of…
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LONGi has announced that, as of mid-December, global shipments of its Hi-MO 5 module have exceeded 50GW, cumulative shipments now approaching 100 million panels. The Hi-MO 5, based on 182mm cells, was officially released in June 2020 and is adaptable to an extensive range of application scenarios, being easy to handle, transfer, store and install, with a very low breakage…
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Prime Minister Shehbaz Sharif on Wednesday said the government remains committed to diversifying the country’s energy mix, and will put special emphasis on renewable sources, which he termed as the “key to energy security”. The prime minister in a post on Twitter wrote that the federal cabinet has given serious consideration to an energy conservation plan. “The plan will be approved…
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So, energy conservation is the new plan. Nothing was ever seen before, but least needed than ever before. The idea is to have the markets shut earlier and wedding events be over earlier. Well, making the most use of daylight can never be a bad idea. But this being pitched as a solution to tackle the mess Pakistan finds itself…
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Mari Petroleum Company Limited has announced that the gas production from Zarghun South Gas Field, Balochistan has been resumed. The field is currently producing around 5mmscfd of gas which will be gradually ramped up to its optimum production rate, material information sent to Pakistan Stock Exchange on Wednesday said, adding that the gas is being supplied to Sui Southern Gas…
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Amid the IMF demand for hiking gas tariffs, the government has constituted a high-powered committee on Circular Debt Settlement Plan for gas sector companies with the mandate to devise a clear roadmap for erasing this monster within 10 days. The circular debt of the cash-bleeding gas sector has accumulated to Rs1,600 billion and has now gripped the gas sector after…
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After months of negotiations, the EU finally agreed on Monday to set a price cap on natural gas to protect consumers from excessive price spikes and limit inflationary pressure and industrial damage to European economies. The price cap, however, could limit Europe’s capacity to continue to draw most of the global spot LNG supply, analysts say. Some EU member states such…
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Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners LP, has told the Financial Post that oil prices will return to $100 per barrel in 2023. According to the analysts, many of the headwinds that have cut short the oil price rally this year including China’s zero-Covid policy and the coordinated SPR releases by several governments, will no longer…
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