EU May Set Binding Standards Methane Emissions

As part of its plan to reduce greenhouse gas emissions and become carbon neutral by 2050, the European Union (EU) will consider the creation of a legally-binding framework at the international level for methane emission reduction, including in the energy sector. In its EU strategy to reduce methane emissions published on Wednesday, the European Commission said that the scope of actions for energy-related methane emissions covers the entire oil, natural gas, and coal supply chains, including liquefied natural gas (LNG), gas storage, and biomethane introduced into gas systems. “The Commission…

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Bigger Than Expected Crude Inventory Draw Boosts Oil Prices

The American Petroleum Institute (API) reported on Wednesday a major draw in crude oil inventories of 5.421 million barrels for the week ending October 9. Analysts had predicted an inventory draw of 2.835-million barrels. In the previous week, the API reported a build in crude oil inventories of 951,000 barrels, after analysts had predicted a build of 400,000 barrels. Oil prices were trading up on Tuesday afternoon before the API’s data release, despite industry reports from the IEA and OPEC that suggested oil demand growth could be weaker than anticipated.…

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The U.S. Is Backing Hydrogen Trucks With A New $100 Million Initiative

Until now, the United States has been trailing other countries when it comes to plans for a post-COVID clean energy push. As countries around the world have rushed to put together green stimulus packages for a post-pandemic economic recovery, the U.S. has been slow to adopt a similar policy. The private sector, too, has taken a drastically different approach in the U.S. when compared to energy companies in Europe. In a New York Times report last month headlined “U.S. and European Oil Giants Go Different Ways on Climate Change,” reporter…

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Commencement of Production from Sara and Suri Leases and Settlement of Debentures

CALGARY, Alberta, Oct. 13, 2020 (GLOBE NEWSWIRE) — Jura Energy Corporation (“Jura” or the “Company”) announced today that commercial production has commenced from the Sara and Suri leases under a third party sale arrangement. The current production from the fields is approximately 0.25 MMcf/d (net to Jura 0.15 MMcf/d) which is expected to be gradually enhanced to approximately 1 MMcf/d (net to Jura 0.60 MMcf/d). The gas production from the Sara and Suri leases is being sold to Konnect Gas (Private) Limited (“KGL”) pursuant to the terms of a previously-announced…

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Renewables could cover more than one-third of energy demand in CESEC

New IRENA report explores cost-effective growth of renewables in Central and South Eastern Europe to save costs, enhance energy security and supply affordable energy to all citizens in the region Within ten years, the economies of Central and South Eastern Europe* could cover 34% of their rising energy demand cost-effectively with renewables, a new report by the International Renewable Energy Agency (IRENA) finds. The Renewable Energy Roadmap for the Central and South Eastern Europe Energy Connectivity initiative (CESEC), released at the meeting of CESEC Ministers hosted by the European Commission and the Croatian Ministry of Economy and…

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Hafeez-led body to give effect to MoUs signed with IPPs

ISLAMABAD: The Power Division has notified 8-member committee headed by the Prime Minister’s Advisor on Finance and Revenue, Dr Abdul Hafeez Shaikh to give effect to the MoUs signed with IPPs and their conversion into binding contractual agreements and devising a mechanism for settlement of outstanding dues of IPPs. On September 29, 2020, the federal cabinet constituted the following committee to take further actions on implementations of negotiations outcomes with IPPs: (i) Adviser to the Prime Minister on Finance & Revenue – Chairman; (ii) Special Assistant to the Prime Minister…

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QESCO to be handed over to Balochistan govt: Omar

ISLAMABAD: Federal Minister for Power Division Omar Ayub has said the federal government has decided to handover Quetta Electric Supply Company (QESCO) to the provincial government of Balochistan. He said as a part of the privatisation drive, the government had offered Balochistan to takeover the operation of the QESCO, adding that the government was also going to privatise Peshawar Electric Supply Company (PESCO) and the Islamabad Electric Supply Company (IESCO). While briefing the National Assembly Standing Committee on Power, he told that the power distribution system had almost collapsed, and…

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How the UK’s secret defence policy is driving energy policy – with the public kept in the dark

The UK government has for 15 years persistently backed the need for new nuclear power. Given its many problems, most informed observers can’t understand why. The answer lies in its commitment to being a nuclear military force. Here’s how, and why, anyone opposing nuclear power also needs to oppose its military use. “All of Britain’s household energy needs supplied by offshore wind by 2030,” proclaimed Prime Minister Boris Johnson at last week’s online Conservative Party conference. This means 40 per cent of total UK electricity. Johnson did not say how,…

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Power Sector Reforms: Lessons from Turkey

Pakistan embarked upon a series of reforms in the power sector in the 1990s, more or less around the same time as Turkey. In Pakistan, these reforms started with the unbundling of state-owned DISCOs. This was supposed to culminate with their privatization and then evolve further with the creation of a competitive market, which – ideally – would have resulted in multiple options for the end user leading to cheaper power and improved services, among other benefits. KESC was the first DISCO to be privatized, and later became K-Electric. It…

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Circular Debt

EDITORIALS: Energy sector’s circular debt has reached 2.3 trillion rupees against 1.2 trillion rupees inherited by the Pakistan Tehrik-i-Insaaf (PTI) government a little over two years ago – a rise of nearly 92 percent. The percentage rise in the circular debt is unprecedented in the annals of the historically appallingly poorly managed energy sector and can simply not be palmed off on the flawed policies of the previous administrations. The exhaustive list of those engaged in the energy sector at present as per the directives of Prime Minister Imran Khan…

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