After the establishment of KANUPP, in 1972 its first nuclear power plant in Karachi produced 137mw of energy – the use of nuclear power in Pakistan has seen a sharp escalation in recent times. Pakistan presently being an energy-hungry economy with outstanding industrial growth potential continues to invest in renewable nuclear power technology. Pakistan embraced a National Energy Security Plan,…
Read MoreALTHOUGH the world’s attention is currently focused on the Covid-19 pandemic, climate crisis remains the planet’s greatest challenge. To strive to limit the global temperature to 1.5°C means halving the CO2 emissions by 2030 and reaching net zero by 2050. But these pledges have clearly fallen short. In fact, it took a pandemic and the resulting economic shutdown to bring…
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Reports claim that environmental dilapidation can cause a loss of PKR 365 billion every year and hence, it can even deteriorate the economy! Climate change primarily is global warming caused by emission of greenhouse gases via human activity and is responsible for the large-scale alterations in the weather pattern. Human activity burns fossil fuels to produce energy which releases carbon…
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The Punjab government has decided to shift government offices, schools, colleges, universities and health units across Punjab to solar power under the Green Energy Programme through which Rs108 billion will be saved annually. A comprehensive plan has been formulated to increase the use of solar energy in the light of the directives issued by Punjab Chief Minister Usman Buzdar. In…
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Shell and its European rivals are seeking new business models to reduce their dependency on fossil fuels and appeal to investors concerned about the long-term outlook for an industry under intense pressure to slash greenhouse gas emissions. Shell will present its strategy on Feb. 11 and unlike Total and BP the company will focus more on becoming an intermediary between…
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Pakistan is facing an oil and natural gas shortage due to a considerable decrease in local production this year. The official data revealed that the commercial supply of oil decreased by 19.8 per cent in the financial year 2018-19 compared to the past years. The Hydrocarbon Development Institute of Pakistan, under the Ministry of Energy has published the Pakistan Energy Yearbook…
Read MoreISLAMABAD: In a new development, Pakistan’s private sector is going to introduce an innovative concept of virtual pipelines through cryogenic bowzers. Currently, Pakistan has two floating liquefied natural gas (LNG) terminals in Karachi with handling capacity of around 1.3 billion cubic feet per day (bcfd) of LNG. With the new concept of virtual pipelines, the government will open up the…
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The U.S. government this week extended the term of a protection measure against Citgo creditors until July next year, Reuters has reported, noting the measure effectively bars creditors from taking shares in Citgo as repayment for a bond that matured on October 27 this year. The bond was issued by Citgo’s parent company, Venezuela’s PDVSA, operating through a U.S.-based entity. Half…
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Tanker owners had a blast in the spring: nations around the world went into lockdown, oil demand slumped, and hundreds of millions of barrels of excessive supply had to be stashed somewhere—offshore. Now, tanker rates are plummeting, and while industry insiders believe there is a light at the end of the tunnel, it is a long tunnel. The tanker market…
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