Wind has become the ‘most-used’ source of renewable electricity generation in the US

Last year saw wind generation in the U.S. overtake hydroelectric generation for the first time, according to data from the U.S. Energy Information Administration (EIA). Released Wednesday, the figures from the EIA’s “Electric Power Monthly” report show that yearly wind generation hit a little over 300 million megawatt hours (MWh) in 2019. This was roughly 26 million MWh more than hydroelectric production. Wind now represents the “most-used renewable electricity generation source” in the U.S., the EIA said. Overall, total renewable electricity generation — which includes sources such as solar photovoltaic,…

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PM Delivery Unit overrides Ogra law to stop further gas tariff hikes

ISLAMABAD: Amid rising political pressure owing to prevailing price hike, the Prime Minister Office is seeking a drastic cut to revenue requirements of the two gas utilities for current fiscal year to minimise increase in gas rates. The move is likely to cast negatively on the ongoing talks with the International Monetary Fund (IMF), embarrass Oil and Gas Regulatory Authority (Ogra) that had determined the prescribed gas prices and affect the financial position of the Sui Northern Gas Pipelines Limited and Sui Southern Gas Company Limited. A senior government official…

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Ministry gives proposals for slashing LNG prices

ISLAMABAD: The Petroleum Division has proposed that the government should consolidate all LNG terminal and LNG supply contracts in one state-owned entity in an attempt to eliminate multiple margins and extra port handling charges of state enterprises, a move that will slash prices of imported gas by 5% and make it economical for consumers. At present, different entities are dealing with LNG imports and terminals. Pakistan State Oil (PSO), Sui Southern Gas Company (SSGC), Pakistan LNG Terminal Limited (PLTL) and Pakistan LNG Limited (PLL) are dealing with LNG terminals and imports,…

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It’s high time for US firms to invest in Pakistan

ISLAMABAD: US can provide assistance to Pakistan in the energy sector and the details of projects where economic cooperation can be enhanced are being worked on, said US Secretary Commerce Wilbur Ross. Ross said this in a meeting with Adviser to PM on Finance Abdul Hafeez Shaikh during his visit to Islamabad, which came in the backdrop of talks between Prime Minister Imran Khan and US President Donald Trump to boost economic engagements. Speaking on the occasion, Shaikh said that Pakistan and the United States had maintained a durable relationship over…

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Trina unveils two 500 W bifacial solar modules

The Duomax V and Tallmax V panels are equipped with glass-glass and glass-backsheet frames, respectively. Both offer a reported 21% efficiency and orders will be taken from the second quarter on. Trina plans to have a combined 5 GW of annual production capacity for the products this year. The company intends to have 5 GW of annual production capacity in operation for the products this year. Image: Trina Solar ShareIcon FacebookIcon TwitterIcon LinkedInIcon Google PlusIcon WhatsAppIcon Email Chinese panel maker Trina Solar has launched two new PERC monocrystalline bifacial solar…

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Energy sector under acute stress: Nepra

National Electric Power Regulatory Authority (Nepra) said on Wednesday that Pakistan’s energy sector is under acute stress of take or pay mode of contract which have long-term implications. Addressing Energy Week, Nepra’s member, tariff, Saif Ullah Chatha said the purpose of the seminar is to provide a platform for interaction and discussion to combat energy challenges. He was of the view that on one side there is cry of capacity trap and surplus energy and on the other still large areas of the country are without electricity. “The reasons of…

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Pakistan seeks IAEA support to boost N-power programme

ISLAMABAD: Pakistan has sought the support of the International Atomic Energy Agency (IAEA) to strengthen its nuclear power programme as the country is significantly scaling up nuclear power to meet the rising energy demand. To facilitate the rapid expansion of nuclear power, IAEA has amalgamated four of its pre-existing national technical cooperation projects, which supported the regulators, operators, waste managers and non-destructive testers involved in Pakistan’s nuclear power programme, into a single project, according to a press release of IAEA. IAEA’s streamlined support for Pakistan aimed to expand the nuclear…

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OGDC’s half-year profit slips 6pc on high exploration cost

KARACHI: Oil & Gas Development Company Limited (OGDCL) on Wednesday said its profit, for the 6-month period ended December 31, 2019, dropped 6 percent year-on-year primarily owing to surging exploration cost and a fall in production amid easing international crude oil prices. A statement said the company earned Rs53.184 billion in the first half of the current fiscal year compared to Rs56.756 billion posted in the same period last year. As a result of lower profitability, the earning per share (EPS) for the period settled down at Rs12.37, vis-à-vis Rs13.20…

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Aramco Starts Early Preparations for an Overseas Listing

Saudi Aramco is starting early preparations for an international listing, just months after the oil giant turned its record initial public offering into a domestic affair and sidelined global banks, people with knowledge of the matter said. The world’s largest publicly traded company is in discussions with Wall Street banks to draw up scenarios for a second listing overseas, according to the people, who asked not to be identified because the information is private. Aramco wants to be ready to move ahead if Saudi Arabia’s de-facto ruler, Crown Prince Mohammed…

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Syed Muhammad Taha Takes Charge As The New MD & CEO PSO

February 26 2020: Known and respected for his transformational skills in the energy sector over two decades of experience in the industry, the newly appointed Managing Director & CEO of Pakistan State Oil Co. Ltd, Syed Muhammad Taha has taken charge of the company. Speaking about his appointment, Mr. Taha said: “I am truly honoured to lead the country’s largest oil marketing company with utmost devotion. PSO has huge growth potential in fuel & non-fuel retail, as well as in the lubricants segment. I am well aware of the chronic problems…

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