Big Oil majors in the United States have found themselves the target of much pressure to boost production lately, as prices go wild amid a tight—and tightening—market. At the same time, the U.S. government, as well as the EU, have been looking all over the world for more supply. Wood Mackenzie just had some bad news for them. According to new research from…
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EFP warns Govt of looming Gas crisis
President, Employers’ Federation of Pakistan(EFP), Ismail Suttar, has said that the Government of Pakistan should increase the price of gas for domestic consumption. As a country undergoing an economic crisis, the government must seriously take steps to curb wastage of precious gas resources. In a statement, EFP president said that Pakistan already has a deteriorating Balance of Payments (BOP) position…
Read MoreJoint Statement of the Leaders of India, Israel, United Arab Emirates, and the United States (I2U2)
On July 14, 2022, we, the Heads of Government of India, Israel, the United Arab Emirates (UAE), and the United States, convened for the first leaders’ meeting of the “I2U2” Group. This unique grouping of countries aims to harness the vibrancy of our societies and entrepreneurial spirit to tackle some of the greatest challenges confronting our world, with a particular…
Read MoreCTBCM design: NEPRA, NTDC on the warpath
National Electric Power Regulatory Authority (Nepra) and National Transmission and Despatch Company (NTDC) are said to be on the warpath with respect to implementation of the Competitive Trading Bilateral Contract Market (CTBCM), sources close to Chairman Nepra told Business Recorder. Sharing the details, sources said, the Authority, in a letter to Managing Director NTDC, expressed serious annoyance at the latter’s letter…
Read MoreChinese bus company Yutong to set up plant in Sindh
Chinese company Yutong Bus accepted the offer to set up a public transport plant in Sindh following a meeting between provincial minister for transport Sharjeel Inam Memon and Yutong Bus Country Manager Paul Zhang, on Thursday. The plant would either be set up in Karachi or Hyderabad. The parties agreed to create a ‘concrete’ proposal regarding the matter by next…
Read MorePower sector’s blackhole
With the government set to burden consumers with Rs893 billion electricity tariff rebasing during the current fiscal year, on top of fuel adjustments in tens of billions of rupees per month, one of the most crucial elements untouched by policymakers remains the high system losses and low recoveries. Both elements put together entail a revenue shortfall of about Rs750bn. This…
Read MoreIn address to nation, PM Shehbaz announces reduction in fuel prices
Prime Minister Shehbaz Sharif, in his address to the nation on Thursday, announced that the price of petrol was being cut by Rs18.50 and diesel by Rs40.54. The price cut, which takes place after four rounds of massive hikes under the current government, will go into effect at midnight tonight. The prime minister began his speech by explaining that he…
Read MoreMaking the “Pearl” on the Old Silk Road Shining Again – GoodWe Demonstrates Prowess in the 80MW PV Project in Gansu, China
Making the “Pearl” on the Old Silk Road Shining Again – GoodWe Demonstrates Prowess in the 80MW PV Project in Gansu, China It is a well-known fact that China has built and led the global solar push in the past decade. “China has more solar energy capacity than any other country in the world, at a gargantuan 130 gigawatts. It…
Read MoreThe Green Ammonia Boom Is Coming
Green ammonia is a little-known contender to become a major renewable fuel over the coming decades. It has around nine times the energy of lithium-ion batteries and its denser nature makes it easier to transport than liquid hydrogen. As oil majors race to find innovative renewable energy alternatives, green ammonia is gaining more international attention for its potential as an…
Read MoreNatural Gas Will Play A Vital Role In Australia’s Energy Transition
Natural gas will play an important role in Australia’s accelerated energy transition as the country looks to boost renewable energy sources and phase down coal, according to Alan Finkel, Special Adviser to the Australian government on Low Emissions Technology. Australia currently relies on a lot of conventional energy sources. Coal and natural gas account for around 79 percent of the…
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