Day: October 8, 2020

Norway’s Oil & Gas Strikes Could Take 25% Of Production Offline

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If the ongoing strike of oil workers in Norway extends for another week without a resolution, nearly 25 percent of Norway’s oil and gas production could be shut down, including output at the giant Johan Sverdrup oilfield, the Norwegian Oil and Gas Association (NOG) said on Thursday.   The association is at odds with the Lederne union, which has refused to accept a new pay deal for offshore workers, while two other unions – representing 85 percent of the offshore workforce – have accepted the deal. Lederne began a strike on September…

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How AI And Blockchain Are Driving The Energy Transition

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Many people who have increasingly despaired at the adverse effects of changing climate have probably mused: Why can’t we go completely green? Why are fossil fuels so hard to quit? The answers, as usual, are legion: Renewable energy is too expensive, too unreliable, too undeveloped and fossil fuels lack a suitable substitute. All of these reasons contain a modicum of truth. But our biggest challenge remains lack of political will because lowering our reliance on fossil fuels requires dedicated investments that provide uncertain, long-term benefits. Indeed, scientists have continued making…

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Energy Update holds 1st Virtual Conference on Solarizations of Pakistan

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The solar power is the way forward for Pakistan to safeguard its energy security and to lower the basket price of electricity for the consumers in the country.This was stated by CEO of Alternative Energy Development Board (AEDB) Dr Rana Abdul Jabbar Khan in his keynote address at the 1st Virtual Conference on Solarization of Pakistan organized by the Energy Update.The AEDB CEO said that Pakistan should massively take advantage of its presence in one of the best solar zones in the world.He said that lately solar energy had become…

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Ministry Of Petroleum Division Energy

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Federal Minister for Energy Mr. Omar Ayub Khan and Special Assistant to the Prime Minister (SAPM) on Petroleum, Mr Nadeem Babar accompanied by Secretary Petroleum, Mian Asad Hayaud Din visited the country’s flagship oil company, Pakistan State Oil (PSO). Chairman, PSO Board of Management, Mr Zafar I. Usmani, Chief Executive Officer & Managing Director PSO, Syed Muhammad Taha and the Company’s senior management welcomed the honorable guests at PSO’s head office in Karachi. Federal Minister Mr. Omar Ayub Khan chaired the meeting wherein CEO & MD PSO briefed the dignitaries…

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World Bank points out serious downside risks to Pakistan’s economy in FY21

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ISLAMABAD: With the lowest GDP growth of 0.5% among all South Asian nations, the World Bank (WB) has warned Pakistan about external financing risks that could be compounded by difficulties in rolling-over bilateral debt from non-traditional donors and tighter international financing conditions. The WB’s report on South Asia reveals that regional growth was expected to rebound to 4.5% in FY21 against -7.7% in the last fiscal year.  Afghanistan’s growth is now projected at 2.5%, Maldives 9.3%, Sri Lanka 3.3%, Bangladesh 1.6%, Bhutan 0.6%, Pakistan 0.5% and India 5.4% in FY21.…

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