Year: 2020

Libya Set To Export First Crude From Oil Ports Since January

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Two tankers will be the first since January this year to load oil for export at the Libyan port of Brega, Bloomberg reports, citing unidentified source in the know. One of the cargos, of 600,000 barrels of crude, will be shipped to Austrian OMV. The other is of a similar size but its destination has not been disclosed. Libya’s oil ports have been frozen by a blockade since January, when groups affiliated with the Libyan National Army of General Khalifa Haftar took over, suspending all exports and, as a result,…

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WAPDA hydel generation surpasses 8500 MW for first time 8757 MW delivered to National Grid during peak hours

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Electricity generation of hydel power stations owned and operated by Pakistan Water and Power Development Authority (WAPDA) surpassed 8500 megawatt (MW) mark for the first time in Pakistan, as WAPDA provided 8757 MW of electricity to the National Grid during peak hours the other day. Previously, the record of hydel power generation was 8474 MW delivered to the system on September 11, last year. This record generation of hydel electricity by WAPDA is the result of higher reservoir level at Tarbela and Mangla dams, increased water outflows as per indent…

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Mangla, Tarbela dams filled to maximum capacity Record 13.336 MAF water available in dams; good omen for agriculture, hydropower

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The two mega water reservoirs of Mangla and Tarbela have been filled to their maximum capacity last night, resulting in the record availability of water in the two dams, which is being regarded a good omen for agriculture and hydel power generation in Pakistan in the days to come. The cumulative quantum of water available at present in Mangla and Tarbela reservoirs stands at 13.336 million acre feet (MAF) which is a record of water availability during the last 10 years. According to the statistics, water level in Mangla and…

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The Collapse Of Oil Price Volatility

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For two months, the oil market has been incredibly boring. Brent futures have not moved more than $1 per barrel in either direction over a single day for seven consecutive weeks. The OPEC+ cuts have stabilized the physical market, and money managers have placed bets on options that pay off with lower volatility. According to the Wall Street Journal, so-called “strangles” have suppressed implied volatility. Implied volatility has declined from a peak of 345 percent on April 21 (when oil prices went negative) to just under 30 percent by late…

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Tesla Thwarts Serious Cyberattack On Nevada Gigafactory

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Tesla’s Gigafactory in Nevada was a target of attempted and thwarted cyberattack, Elon Musk said, describing the attempt as “a serious attack.” Musk confirmed there was an attempted cyberattack, in reply to an article tweeted by Teslarati, which described how a Russian national had contacted an unnamed Russian-speaking, non-US citizen working at Tesla’s Gigafactory Nevada, offering to pay him US$1 million to insert malware in Tesla’s network, extract data, and demand ransomware. After meeting with the Russian national who had offered the money, Tesla’s employee reported the planned cyberattack to…

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