Month: April 2020

COVID-19 is causing an unprecedented global economic crisis which also affects the LNG industry. In February China’s lockdown seemed to contain the outbreak of the virus but the ensuing pandemic has proven otherwise. Energy prices have plummeted as demand evaporated overnight. While China’s economy took a severe hit due to the lockdown, the country could now benefit significantly as it’s restarting while most of the world is closed for business. Before the outbreak of COVID-19, the world’s second-largest economy was on the path towards dethroning Japan and becoming the largest…

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OTTAWA (Reuters) – Canada will invest C$2.5 billion ($1.8 billion) in measures to help the hard-hit oil and gas industry during the coronavirus outbreak, which has killed 1,250 people in the country, Prime Minister Justin Trudeau said on Friday. The sector, which accounts for 10.6% of Canada’s gross domestic product, has urged Ottawa to free up credit and cash to tackle the effects of the pandemic and rock-bottom oil prices. Trudeau said energy sector workers have faced “layers of calamity” and Ottawa would invest C$1.7 billion to clean up orphan…

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The rise in disposable face masks and gloves being used to prevent the spread of coronavirus is adding to the glut of plastic pollution threatening the health of oceans and marine life, environmentalists warn. On Wednesday, New York Governor Andrew Cuomo issued an executive order, effective this weekend, that New Yorkers must now wear a mask when out in public in situations where social distancing isn’t possible. The CDC advises wearing cloth masks in public (although President Trump says it’s not mandatory and he “doesn’t see it for himself”) due to the concern that Covid-19 can be spread…

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ISLAMABAD: The independent power producers (IPPs), the major stakeholders in power generation, have written a letter to federal minister for energy Omar Ayub Khan, strongly condemning Muhammad Ali, head of the government’s committee for power sector audit, circular debt resolution and future roadmap over his alleged unprecedented bias. The letter stated that Ali expressed his unjust bias against IPPs on media, despite his past was known to everyone, and his appointment as head of the government’s committee has not only stigmatised the entire process but also made the report questionable.…

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ISLAMABAD: The head of legal department of Priv­ate Power and Infrastructure Board (PPIB), Barrister Asghar Khan, tendered his resignation on Monday after developing differences over issues relating to payment of capacity charges worth billions of rupees to independent power producers and transactions about new power projects on coal and liquefied natural gas. According to sources, Barrister Khan had written a series of dissenting notes on the new power policy, processing of new coal- and LNG-based projects and ‘undue favours’ to IPPs. An official confirmed that Mr Khan had submitted his…

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