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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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