Month: December 2020

Widowmaker” Natural Gas Trade Collapses On Mild Winter Forecast

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The spread between March and April natural gas futures collapsed to zero on Tuesday. The spread is critical in gauging how tight supplies will be for the North American winter. In one of the earliest collapses to less than zero, for the first time since 2015, this suggests traders are forecasting a mild winter that will dent energy demand.  Bloomberg calls the collapse in the spread the “widowmaker.” It’s a signal that traders are giving up on hopes of a frigid U.S. winter. “It’s a significant event,” said Gary Cunningham, a…

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Egypt Buys Huge Oil Contracts To Hedge Against Rising Prices

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While oil-producing nations are scrambling to plug budget shortfalls after the price crash, oil importers are benefiting from the low oil prices, and some of them are hedging against higher prices. Egypt, for example—a net oil importer—has nearly doubled its oil hedges to protect itself against higher oil import costs, Egyptian Finance Minister Mohamed Maait told Bloomberg in an interview published on Wednesday. “We did a huge number of hedging contracts,” Maait said about the program for the fiscal 2020-2021 ending in June 2021, without giving details about how much…

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PSA new office-bearers elected

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Karachi: The new office-bearers and members of the executive committee of the Pakistan Solar Association (PSA) have been elected for the year 2020-2021.According to the results of the elections, Muhammad Farhan has been elected as chairman and Waqas Haroon Moosa as senior vice-chairman of the PSA. Gul Sher Khan, Hafiz Muhammad Shoaib, Naveed, and Faheem Asharf, have all been elected as the vice-chairmen of the association.Members of the newly elected executive committee of the PSA are: Amir Pervaiz Chaudhary, Shafiq Ur Rehman, Muhammad Rizwan Ramzan, Asghar Ali, Muhammad Jibran, Rana…

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GE will supply GE’s 7HA.03, the World’s Largest,

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Most Efficient, Flexible 60 Hz gas turbine, to Support Heat and Power for Korea’s Administrative Capital Sejong City KOSPO’s New Shinsejong Combined Cycle Power Plant will be the first plant powered by GE 7HA.03 gas turbine in Korea. Plant will deliver power to the Korean grid and supply district heating to Sejong CityGE’s 7HA.03—an H-Class evolution—is the world’s largest, most efficient, and flexible gas turbine with the lowest cost conversion of gas to electricity for 60-hertz customers Sejong, South Korea – December 8, 2020 – GE (NYSE:GE) today announced it…

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Kakapir Women Lead Mangroves’ Protection

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In Kakapir, a fishing village located around 15 kilometres to the West of Karachi, at least two dozen women spend their days planting mangroves- elongating and strengthening a natural wall against tsunami. Leading the initiative to preserve the natural resource in the area, they realise that them having a secure future is linked to the presence of mangroves. “It’s a valuable tree and we all need to protect them,” said 70-year-old Sughra Hajani, one of the women who have dedicated themselves to protecting mangroves in Kakapir village. “I plant them…

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