Month: June 2021

Eni Looks Into Buying Oil & Gas Assets of BP in Algeria

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Eni SPA E is planning to purchase oil and gas assets of BP plc BP in Algeria as part of efforts to realign their businesses to address the burdensome debt plaguing the companies amid climate pressures, per Reuters. Energy companies, which use carbon-intensive techniques for oil and gas exploration and production, are facing immense pressure from investors and activists to reduce emissions. Importantly, most companies believe that offloading carbon-intensive assets would result in actual emission cuts to meet the concerns regarding climate change. As a result, both companies are considering the transfer of their assets…

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South Asia Should Pay Attention to Its Standout Star

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Half a century ago, in March 1971, Bangladesh’s founders declared their independence from richer and more powerful Pakistan. The country was born amid famine and war; millions fled to India or were killed by Pakistani soldiers. To the Pakistani military’s American backers, the new country seemed destined to fail: Henry Kissinger, then Secretary of State, famously called it a “basketcase.” George Harrison and Ravi Shankar organized the first-ever super-benefit to raise money for UNICEF relief work in the struggling country. This month, Bangladesh’s Cabinet Secretary told reporters that GDP per…

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Longi achieves 25.21% efficiency for TOPCon solar cell

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Chinese PV module maker Longi announced it was able to improve the efficiency of its tunnel oxide passivated contact (TOPCon) solar cell by 0.12% in just one month. According to the manufacturer, the Institute for Solar Energy Research in Hamelin (ISHF), Germany, has confirmed that the efficiency of its commercial-sized monocrystalline, n-type, bifacial product has been raised from 25.09% to 25.21%. No technical details were disclosed on how the result was achieved. Longi also announced it achieved two more efficiency records. It claimed to have reached a power conversion efficiency of 25.02% for a p-type monocrystalline…

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Future of Saudi investment on refinery in question

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Special Assistant to Prime Minister on Power and Petroleum has told The News that the Kingdom of Saudi Arabia will not install a refinery at Gwadar but has indicated to set up a refinery along with a petrochemical chemical complex somewhere at Hub or near Karachi. “However, there is no mentionable progress from Aramco as to when and where the deep conversion refinery with the capacity to refine 250,000 barrels per day of crude oil will be set up.” It is pertinent to mention that during the visit of Crown…

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Petrol sales all-time high in May

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Petrol-prices

KARACHI: Petrol sales hit an all-time high of 731,000 tonnes in May, up by 15 per cent over the same month last year, despite restricted movement of people due to early closure of markets by 6pm and long Eidul Fitr holidays. High-speed diesel (HSD) sales also remained brisk with 761,000 tonnes as compared to 688,000 tonnes in May 2020, up by 11pc. Furnace oil (FO) posted a 16pc growth to 168,000 tonnes from 145,000 tonnes in May 2020. As a result of growth in three major oils, the overall country’s…

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