There is an undeniable need for more electric batteries to be produced in line with the growing global demand for electric vehicles (EVs) and electronic devices. But companies are repeatedly falling behind on their production aims due to a multitude of challenges, from supply chain constraints caused by the Covid pandemic to lithium shortages in the face of rising demand.…
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The U.S. Is Facing A Major Challenge As Petrodollar Loses Force
On January 17, the Saudi minister of finance, Mohammed Al-Jadaan, announced that the Saudi state is open to selling oil in currencies other than the dollar. “There are no issues with discussing how we settle our trade arrangements, whether it is in the US dollar, whether it is the euro, whether it is the Saudi riyal,” Al-Jadaan told Bloomberg TV.…
Read MoreLONGi signs distribution agreements for 500MW of Hi-MO 6 modules at WFES 2023
LONGi has announced that its participation at the 2023 edition of the World Future Energy Summit in Abu Dhabi saw the signing of several distribution agreements, totalling 500MW, for its new Hi-MO 6 product with regional partners including Power N Sun, Nanosun, AGS, Power City and Noon, as well as other partners from Africa and Central Asia. The Hi-MO 6…
Read MoreEngro Fertilizers Limited
Engro Fertilizers Limited (PSX: EFERT) is a wholly owned subsidiary of Engro Corporation which is the subsidiary of Dawood Hercules Corporation Limited. The company was incorporated in Pakistan in 2009 and is engaged in the manufacturing, purchasing, marketing, and selling of fertilizers, seeds, and pesticides besides providing logistics services.
Read MoreLPG prices increased by Rs60/kg
Following a hefty increase in POL prices, the government on Tuesday hiked the rate of indigenous liquefied petroleum gas (LPG), also called a poor man’s fuel, by Rs60/kg which will enhance the price of 11.8kg domestic cylinder by approximately Rs704. As per the notification issued by the Oil and Gas Regulatory Authority (OGRA) the price of indigenous liquefied petroleum gas…
Read MoreBarrick Gold pays $3m to Balochistan Govt under Reko Diq pact
The Balochistan government has received an amount of $3 million from the Barrick Gold Corporation as part of the new Reko Diq agreement. A company’s press release says after the completion of legal process last month, the Balochistan government and the company agreed on a timetable for the disbursement of the committed funds to the province. Reko Diq Pakistan Country…
Read MoreGovt plans to convert Rs800bn PHL debt into public debt
The government has prepared a plan to impose multiple surcharges of over Rs 4/kWh on consumers across the country including those of the KE and conversion of Power Holding Limited’s (PHL) debt of Rs 800 billion to public debt, sources close to Finance Minister told Business Recorder. Sharing the details, sources said PHL outstanding debt stock as of June 2020 was…
Read MoreNEPRA FCA decision: Power Div proposes revision
Power Division has proposed revision in National Electric Power Regulatory Authority (Nepra) FCA decision/ notification by way of policy guidelines to recover the pending amount of Rs52 billion from electricity consumers and Rs 10.34 billion as an additional supplementary grant to cover waiver of electricity bills. Power Division in its summary to the ECC has explained that Fuel Charges Adjustments…
Read MoreGhani warns of violent reaction to hours-long power outages over billing issues
Sindh Labour and Huaman Resources Minister Saeed Ghani has warned that power consumers would show a violent reaction in Karachi if entire localities were deprived of electricity for a prolonged period of time on account of non-payment of power bills. He issued the warning on Tuesday while chairing a meeting along with Karachi Commissioner Muhammad Iqbal Memon on Tuesday to…
Read MoreRussian Oil Companies Told To Comply With Ban On Oil, Oil Product Exports
Russian Prime Minister Mikhail Mishustin has signed an agreement demanding that all Russian oil companies comply with a previous order that disallows any exports of Russian crude oil or crude oil products to any buyer that adheres to the price cap mechanism. It should be noted that Russian companies failing to comply will face no penalties, according to Upstream. Mishustin’s…
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