Year: 2020

MENA’s renewables investment to hit $97bln in five years

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Yellow Door Energy currently has over 110 megawatts of solar assets operating and under construction in the UAE, Jordan, and Pakistan, with recent expansions into Saudi Arabia, Bahrain, and Oman. Yellow Door Energy is one of Apicorp’s investee companies and in 2019 the corporation and a consortium of international and regional banks invested $65 million in Yellow Door Energy to scale up investments in solar energy and efficiency solutions in emerging markets. “For years, Apicorp has been a trusted financial partner in the region’s energy sector, and we are delighted…

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Illegal mining in full-swing in Charsadda despite ban

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CHARSADDA: Illegal mining of precious mines and minerals is continuing despite the ban for the last two years in the district. It is causing huge losses to the provincial exchequer every year. Sources said that the Khyber Pakhtunkhwa government was losing Rs157.13 million per annum due to the ban on mining and flawed policies to boost the sector in Charsadda. They said that there were substantial mine and mineral reserves on 13,000 acres of land in Charsadda, the native district of Special Assistant to the Chief Minister for Mines and…

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Total And Exxon Renegotiate A Major Gas Sharing Deal

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Supermajors ExxonMobil and Total are renegotiating a natural gas resource sharing deal for their respective liquefied natural gas (LNG) projects offshore Mozambique, Reuters reports, citing sources with knowledge of the talks. Exxon and Total are leading the Rovuma LNG and the Mozambique LNG projects, respectively, and are looking to renegotiate a 2015 deal on using resources from the basins that would supply gas to their respective projects. Both oil majors, who are looking to cut project costs, want to use the resources from a shared field first because they are…

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Peru’s Oil Industry Is Engulfed In Crisis

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A combination of sharply weaker oil prices, inconsistent regulation, the COVID-19 pandemic, and constant conflict in the Amazon where most of Peru’s onshore oil industry is located has triggered a crisis that has brought the industry to the brink of collapse. This was recently recognized by Peru’s National Society of Mining, Oil, and Energy (SNMPE – Spanish initials) which released a media statement (Spanish) asking the central government to implement measures to reverse the crisis. Lima has long downplayed Peru’s considerable oil potential in preference to advancing the Andean country’s…

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RLNG-fired power plants: Sell-off plan faces difficult situation

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ISLAMABAD: The privatisation of Re-gasified Liquefied Natural Gas (RLNG)-fired power plants is reportedly in hot water due to IPPs current issues and inordinate delay in other prerequisites, sources close to Minister for Privatisation told Business Recorder. Sharing details, sources said transaction structure for the privatisation of two RLNG power plants established by National Power Parks Management Company Limited (NPPMCL) was approved by the Cabinet Committee on Privatisation (CCoP) in its meeting held on September 18, 2019. However, Expressions of Interest (EoIs) for the bidders were published after a decision of…

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