The world is past the era of growing crude oil demand, BP said in its annual energy outlook report, which was released today. The message of the outlook, according to media reports, is that oil consumption may never recover to pre-pandemic levels, and not just because of the pandemic itself but because of factors that have been at play long before…
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Renewables are set to be the fastest-growing source of energy in the coming decades, giving fossil fuels such as coal and oil a run for their money in many parts of the world. Sure, the world will continue to need oil, coal, and natural gas in the future, because energy systems cannot and will not switch to 100-percent low-carbon energy sources…
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The United Arab Emirates (UAE), currently OPEC’s third-largest producer, is estimated to have exported a lot more crude oil in August as it produced more than its quota under the OPEC+ deal, undermining the oil market’s faith in the group’s unity in the cuts. According to tanker tracking data Bloomberg has compiled from several oil flow tracking firms, the UAE shipped more…
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Iran’s electricity grid will be connected with Russia and Azerbaijan in a few months, once grid compatibility studies are completed, Iran’s Energy Minister Reza Ardakanian said on Friday. Iran’s power grid could be linked and synchronized to connect with other grids either via Azerbaijan or via Armenia and Georgia, Ardakanian said, as reported by Iranian Fars news agency. “Iran welcomes either of…
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The paramount challenges that climate change poses to Pakistan are related to water and heat. Pakistan’s upslope contour from glacial mountains in the north to the south’s lowland areas stages a conundrum in front of the decision-makers. Despite its trivial contribution, Pakistan will face the direful aftermath of climate change in the wake of its topography and geography. Pakistan –…
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KARACHI: Karachi Chamber of Commerce and Industry (KCCI) on Tuesday demanded the government to let the private sector foray into distribution of electricity to overcome the energy crisis. KCCI urged the regulator to withdraw the exclusive rights of power generation, sales and distribution granted to K-Electric in July 2003. Private sector should be allowed to conduct business of distribution and…
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If all plans for its electricity sector go ahead, the South Asian nation risks having a glut of coal and gas power capacity, with fleets running at a fraction of their capacity, warns a new study. akistan risks locking itself into polluting and expensive electricity generation capacity if it follows energy strategies laid out in its latest power expansion plan, a…
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ISLAMABAD: Pakistan Navy (PN) is reportedly reluctant to issue No Objection Certificate (NOC) for establishment of two new LNG terminals due to security concerns, well-informed sources in the Ministry of Maritime Affairs told Business Recorder. Sources said the ECC of the Cabinet’s decision of March 5, 2019 duly ratified by the Cabinet on March 19, 2019 and July 9, 2019…
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Reaching natural gas production of one billion cubic meters per day (bcm/d) has been one of the three core hydrocarbons resource strategies of Iran since the Islamic Republic began to seriously develop the supergiant South Pars non-associated natural gas field in 1990, alongside producing 5.7 million barrels per day (bpd) of oil and building out a world-class petrochemicals sector. According…
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A study launched on Thursday has revealed that Pakistan’s new long-term power capacity plan has failed to live up to the government’s stated principles of sustainability and affordability. Power demand growth forecasts made under Integrated Generation Capacity Enhancement Plan-2047 (IGCEP-2047) are too high and do not take into account the impact of COVID-19, states the study conducted by Institute of…
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