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

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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…

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

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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…

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Ministry gives proposals for slashing LNG prices

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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…

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

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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…

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Trina unveils two 500 W bifacial solar modules

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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…

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Energy sector under acute stress: Nepra

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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…

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Pakistan seeks IAEA support to boost N-power programme

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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…

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

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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…

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Aramco Starts Early Preparations for an Overseas Listing

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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…

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

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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…

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