Energy conservation in hot weather could raise mortality rates, a new study that has reviewed data from Japan showed this week. The study, which will be published in the American Economic Journal: Applied Economics, argues that the Japanese government’s energy-saving campaigns since the country closed most of its nuclear power plants after the 2011 Fukushima disaster have led to higher death…
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Solid demand in China, India, and Japan lifted global oil demand by 1.7 million barrels per day (bpd) in November to the highest level since February 2022, new data from the Joint Organizations Data Initiative (JODI) showed on Thursday. China’s oil demand rebounded by almost 1 million bpd in November compared to October, while Chinese crude oil imports surged to…
Read MoreIt’s time to review the price cap on Russian crude oil, Ukraine’s foreign minister said on Thursday because the current market price of Urals is below the cap. A coalition made up of the G7 countries as well as Australia and the EU set last year a price cap on all seaborne Russian crude oil. The goal was to reduce…
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The Energy Intelligence 2023 outlook report sheds light on a very important sentiment that will guide the market this year: It’s not the energy transition or even the affordability of energy that is on the top of everyone’s mind. It’s the security of supply that trumps everything. The industry priority is energy security this year, and while that does not…
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Central Power Purchasing Agency-Guaranteed (CPPA-G) has sought negative adjustment of Rs2.20 per unit in Discos’ tariffs for December 2022 under monthly Fuel Charges Adjustment (FCA), National Electric Power Regulator Authority (Nepra) will hold a public hearing on January 30, 2023 on CPPA-G’s request of adjustment in Discos’ tariffs. According to data submitted to Nepra, in December 2022, hydel generation was…
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Oil and Gas Regulatory Authority (OGRA) has taken serious notice of the complaints regarding overcharging of end consumer LPG Price. OGRA Enforcement Teams have been mobilized to take cognizance of the matter and to ensure sale of LPG at notified prices to provide relief to the end consumers and to initiate action against the violators under the applicable Rules/Laws.OGRA-Enforcement Teams…
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Mari Petroleum Company Limited (MARI), one of Pakistan’s largest petroleum exploration and production companies, announced that it has initiated gas supply from Phase-II of Sachal Gas Processing Complex (SGPC), formerly known as GTH Gas Processing Facilities, on Friday. “We are pleased to announce that MARI has successfully completed the construction of SGPC Phase-II facilities to process low Btu gas from…
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Investors in solar power projects have aired serious concern over the blocking of equipment imports by the central bank, saying such restrictions have led to a halt in project implementation. The issue was taken up in a meeting National Electric Power Regulatory Authority (Nepra) held with small and large solar power project owners, especially those who were working in Balochistan.…
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Pak-Arab Refinery Limited (PARCO) has a signed a memorandum of understanding (MoU) with two foreign companies to explore opportunities in sustainable fuels and feedstock production in Pakistan, a statement said on Thursday. UAE-based Mubadala Energy and an Austrian petrochemical firm OMV Downstream GmbH (OMV) to help PARCO find out possibilities of pursuing projects in circular economy initiatives, including sustainable fuels,…
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In November too, nuclear generation was the top source after hydropower. Nuclear sources contributed 2,338 GWh of electricity to the national grid. Pakistan has been actively pursuing the plan to increase the share of cleaner energy sources in its energy mix, as carbon-based power, especially oil and gas not only affect the environment but are also expensive. Each year, Islamabad…
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