Russia’s Oil Product Exports To The U.S. Jump To 16-Year High

Russia’s exports of petroleum products to the United States more than doubled in the first half of 2020 compared to the same period last year, reaching their highest levels since at least 2004, Russian outlet RBC reported, citing Russian customs data. Russia’s oil products exports to the U.S. jumped to 9.1 million tons between January and June 2020, up from 4 million tons for the same period in 2019. The U.S. was Russia’s second-largest buyer of oil products – accounting for 12 percent of Russia’s petroleum products exports – after…

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Demand Crash Hit U.S. Refiners With Surging Biofuel Blending Costs

U.S. refiners are feeling the pinch not only from the lower fuel demand, but also from the surging costs for complying with the biofuel requirements as refining and blending activity is lower than usual. Under the Renewable Fuel Standard (RFS), oil refiners are required to blend growing amounts of renewable fuels into gasoline and diesel. Refiners that don’t have the infrastructure to blend biofuels must purchase tradeable blending credits known as Renewable Identification Numbers, or RINs. Because of the slump in demand, blending activity has been lower than what is…

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Eastern Libya Sees Power Outages As A Result Of Oil Blockade

The closure of oil ports in the Gulf of Sirte is the main reason for the power outages in eastern Libya, the National Oil Corporation (NOC) says. “By closing the ports in the Gulf of Sirte, the condensate reservoirs at the export ports will be filled within days, and thus the production of the gas associated with the condensate, which feeds Zueitina power stations and north of Benghazi, will come to a halt,” NOC chairman Mustafa Sanalla said, as carried by The Libya Observer. A few days ago, Sanalla warned…

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Electricity ‘beamed’ to homes could do away with wire transmission cables

A Kiwi technology start-up hopes its long-range wireless power transmission system will herald a brighter, cleaner future. Emrod has developed a system which converts electricity into electro-magnetic waves that can be sent wirelessly to receivers to be converted back into electricity for use in homes and businesses. In the long-term, founder Greg Kushnir believes the technology could reduce humanity’s dependence on oil by making electric air travel and shipping possible. In the shorter-term, it’s being earmarked to deliver power to remote New Zealand homes and island communities, and to provide…

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Pakistan pushes renewables – but coal expansion continues too

ISLAMABAD (Thomson Reuters Foundation) – Pakistan this week set in motion a plan to boost the share of its electric power that comes from renewables to 30% by 2030, up from about 4% today, government officials said. “The targets in the newly announced policy are a 20% share of renewables in installed capacity of Pakistan’s power mix by 2025 and 30% by 2030,” said Syed Aqeel Hussain Jafry, policy director for the government’s Alternative Energy Development Board. That will include mainly wind and solar power, but also geothermal, tidal, wave…

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New Renewable Policy promises One Window Facility for Investors

Finally Renewable Energy Policy 2019 (now it may be called as Renewable Policy 2020) has been finally approved by Council of Common Interest (CCI) of Pakistan after a long debate amongst stake holders including provinces. I can say with confidence that this time consultation was much at larger stage than before and policy almost satisfies the stake holders interests. Policy will be better and better if it is renewed and continuous basis. The policy has major features as under, 1. Policy has set very ambitious target of 20% by 2025…

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Taming the monster of higher electricity prices-II

Power sector problems in Pakistan are acute, chronic, and have accumulated over decades. They are also multi-dimensional and not restricted to any one aspect of the sector. They all, however, have culminated into feeding the monster, “the higher-than-normal electricity prices”. There is no easy way out of the present quagmire. A carefully-crafted reform program will be needed to plug the holes in the short-run and a treatment spread over medium- to long-run to heal it back to health. An old English saying offers a short-term remedy: “If you find yourself…

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Unutilized capacity of government LNG Regasification Terminals to be auctioned

ISLAMABAD: The government has decided to auction unutilized capacity of LNG Regasification Terminals not under government’s use on a short-term basis, Business Recorder reported on Wednesday. Currently two LNG Regasification Terminals are operational, one each under Sui Southern Gas Company Limited (SSGCL) and Pakistan LNG Terminals Limited (PLTL). While SSGCL terminal is operating near capacity, the PLTL terminal is under-utilized with an average utilization of only 51 percent in 2019-20. This excess and unutilized capacity is causing the tarrif to shoot up from the levelized tarrif which casued additional burden of…

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Govt starts working to set up AJK Disco

ISLAMABAD: The government has initiated working on its plan to create Azad Jammu and Kashmir electricity distribution company (AJK Disco). However, the analogy of the AJK Disco will be as a bulk consumer that will purchase the electricity from three Discos of the country such as Iesco, Pesco and Gepco. AJK DISCO will go into the jurisdiction of Nepra and the regulator will determine the tariff and this is how the AJK electricity distribution will come under rules and regulations of Nepra. The government has initiated its working on making…

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High energy tariffs: SMEs on verge of collapse

ISLAMABAD: Hundreds of small and medium enterprises (SMEs) – acting as indirect exporters – are virtually on the verge of collapse because of the highest energy tariff. These SMEs are in extreme distress due to the exorbitant power tariffs. If the government failed to extend regionally competitive power tariff at 7.5 cents per unit and RLNG at $6.5 per MMBTU, they will surely be shut down, a senior official at the Commerce and Textile Ministry told The News. “We are receiving reports that many small industrial units (SMEs) are getting…

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