Day: June 4, 2021

Turkey has discovered further deposits of natural gas in the Black Sea, according to people familiar with the matter, and is likely to make an announcement soon. Initial data from the offshore Amasra-1 well show a significant amount of newly discovered gas, the people said, asking not to be identified while discussing confidential information. Turkish explorers last year found 405 billion cubic meters of gas at the nearby Tuna-1 well, the biggest ever discovery in the Black Sea, and said at the time production could begin by 2023. No independent…

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The Oil & Gas Regulatory Authority (Ogra) has awarded a ‘gas-marketing licence’ to Shell Energy Pakistan (Pvt) Limited. Shell Energy Pakistan (Pvt) Limited has been incorporated with the aim of carrying out downstream gas marketing activities in Pakistan. It aims to aggregate demand from customers and secure competitive international supply to meet such demand. After evaluating its credentials, Ogra has granted rights to Shell Energy Pakistan to market gas to interested customers. Third-party access to gas import and distribution infrastructure is necessary for creating a competitive and developed gas market. …

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Pakistan has initiated work on a number of green financing instruments, buoyed by widespread global investor interest in the country’s first green bond floated in the international market last week. The development follows the growing concern in Pakistan that it’s one of the most vulnerable countries in the world to climate change, and has been hit hard by extreme weather events including devastating floods. Prime Minister Imran Khan on Thursday said 10 most vulnerable countries in the world, including Pakistan, were at high risk of climate change due to green…

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I know, you probably haven’t even driven one yet, let alone seriously contemplated buying one, so the prediction may sound a bit bold, but bear with me. We are in the middle of the biggest revolution in motoring since Henry Ford’s first production line started turning back in 1913. And it is likely to happen much more quickly than you imagine. Many industry observers believe we have already passed the tipping point where sales of electric vehicles (EVs) will very rapidly overwhelm petrol and diesel cars. It is certainly what…

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Renewable energy sources supplied just over half of Spain’s electricity demand for the month of May, new data has shown, boosted by a strong contribution from the nation’s wind farms. Estimates released this week by Spanish grid operator Red Electrica de Espana (REE) revealed that a mix of renewables including concentrating solar thermal and hydro generation produced 50.7% of Spain’s electricity in May. As reported by Renewables Now, zero emission sources delivered 10% more “green gigawatt-hours” over the course of May compared to the same period a year ago, and 4.5%…

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