Day: January 13, 2021

One of the oil mining industry’s big challenges is finding a profitable way to handle the associated gases released during the mining process. The solution could lie in Bitcoin mining. Oil extraction and bitcoin (BTC) might seem like strange partners but BTC might hold the key to tackling one of the oil sector’s big pollution problems. Oil extraction often produces associated gases as one of its byproducts. It is often not financially viable or practical for oil companies to sell this gas, so it is vented into the atmosphere, causing…

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KARACHI: The government has decided not to include cross-subsidy and stranded costs into the electricity wheeling charges on industrial connections, it was learnt on Tuesday. This will promote healthy competition and pressurise distribution companies to improve their performance. Nepra said imposition of such costs would not only discourage wheeling regime in Pakistan but at the same time would also provide no incentive to discos to improve their performance in terms of reduction in transmission and distribution losses, minimise pendency of new connections and increase recoveries. Wheeling target consumers are primarily…

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KARACHI: Byco Petroleum Pakistan Limited, Pakistan’s largest oil refining company, reached a key milestone in its Upgrade 1 project by beginning civil works construction on January 9, 2021 at the site earmarked at its refining complex for the construction of the project. In an Extraordinary General Meeting held on April 2, 2020, Byco had announced its plans to upgrade its refining complex with the installation of two major new additions to its refineries, namely the DHDS (Diesel Hydro Desulphurizing) Unit, and FCC (Fluidized Catalytic Cracking) Unit. At the ground breaking…

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