The U.S. Energy Information Administration released a report last month highlighting its projections that the U.S. electricity generation mix made up of renewables will have doubled by 2050. That’s also when 42% of the nation’s electricity will be provided by renewables. “Wind and solar generation are responsible for most of that growth. The renewable share is projected to increase as…
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US oil & gas industry saw a drop of 14.93% in overall deal activity during February 2021, when compared with the last 12-month average, led by Energy Transfer’s $7.2bn acquisition of Enable Midstream Partners, according to GlobalData’s deals database.US Oil & Gas industry deal activity: value and volume trend – February 2020 to February 2021M&APrivate equityVenture financingDeal valueFeb 20Mar 20Apr…
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First things first. Understanding of petroleum pricing in the Pakistani mass media at large is amateurish at best. No surprise that the reporting if often devoid of ground realities. There should be no second opinions that the understanding and the subsequent quality of reporting needs to improve drastically. That said, how does this qualify for the electronic media regulator to…
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ISLAMABAD: National Accountability Bureau’s (NAB’s) investigation against Independent Power Producers (IPPs) has reportedly put first installment of 40 per cent of agreed amount of over Rs 400 billion in limbo, well-informed sources old Business Recorder. Earlier, the IPPs, established under the pre-1994 Power Policy and 1994 Power Policy were expecting installment of 40 per cent agreed amount before the end…
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ISLAMABAD: The government is expected to complete gas and electricity transmission lines to Rashakai special economic zone by this yearend, officials said on Friday. The representatives of the developers informed a meeting that the first Unit of a steel plant is under construction in the SEZ and plant and machinery would soon be imported. In the first phase, they plan…
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Islamic banks should embrace sustainable finance practices to unlock funding opportunities in green energy, affordable housing and infrastructure projects, Azhar Aslam, head of Islamic banking, Standard Chartered Bank Pakistan said during an interview with The News. These avenues should be considered a great opportunity by Islamic financial institutions (IFIs), which could better manage environmental and social impacts in a Shariah-compliant…
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Energy sector experts have stressed the need for according equal importance to the country’s non-traditional security challenges such as energy and environmental crisis to ensure national security. Speaking at a webinar titled “Nontraditional security challenges – energy and environment crisis” on Friday, they were of the view that by tackling energy and environmental challenges, Pakistan could boost its overall national…
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Industrialists have expressed concern over the hike in energy tariff and discontinuation of gas supply to the factories generating their own electricity. In a statement on Friday, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Nasser Hyatt Maggo and other office-bearers said that the government was making efforts to appease the International Monetary Fund (IMF) at the cost…
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The Petroleum Division has asked the Auditor General of Pakistan (AGP) to initiate a forensic audit of top 10 oil marketing companies (OMCs), which were allegedly involved in petrol crisis in June last year. The Petroleum Division has sent a questionnaire to the AGP, asking it to focus on it while conducting the audit of OMCs. The forensic audit will…
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The first commercial scale plant to recycle all types of plastic using high pressure steam in the U.K. began construction. The plant in the northeast of England will cost 30 million pounds ($41 million) to build and ultimately process 80,000 metric tons a year of plastic waste after its starts operating by the end of 2022, according to a statement…
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