Finland Wants EU To Give Nuclear Power “Sustainable” Status

It looks as though Finland is starting to come back around to the idea of nuclear power – and that they plan on taking their advocacy for very-low emission energy to the European Union. The country will now lobby the EU for a “sustainable” label on nuclear power. The EU’s decision on whether or not nuclear is “sustainable” has yet to be made. Despite the fact that plants are emission-free, “nuclear is currently considered only a low-carbon energy source due to emissions caused by mining and transport,” Euractive wrote this…

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U.S. Announces Lease Sales for Massive Offshore Wind Expansion

The U.S. Interior Department plans to hold up to seven lease sales for offshore wind as part of efforts to boost the country’s wind power capacity to 30 GW by 2030. “The Interior Department is laying out an ambitious roadmap as we advance the Administration’s plans to confront climate change, create good-paying jobs, and accelerate the nation’s transition to a cleaner energy future,” said Interior Secretary Deb Haaland. “This timetable provides two crucial ingredients for success: increased certainty and transparency. Together, we will meet our clean energy goals while addressing…

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Ministry Awards Licences For Oil, Gas Exploration In Attock, Loralai

The Ministry of Energy (Petroleum Division) on Wednesday awarded licences to carry out oil and gas exploration activities in Attock district of Punjab province and Loralai district of Balochistan, under its strategy to make the country self-reliant in energy sector. Minister for Energy Hammad Azhar witnessed the Petroleum Concession Agreements (PCAs) and Exploration Licences (ELs) awarding ceremony, a Petroleum Division news release said. The ELs and PCAs were be signed by Secretary Petroleum Division Dr Arshad Mahmood, Hammad Azhar said $ 30,000 would be spent to undertake social welfare activities…

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EU Floats Ban On Arctic Fossil Fuel Exploitation

The European Union said Wednesday it would seek an international agreement to ban the exploitation of gas, coal and oil in the Arctic, weeks before a major UN climate conference. The Arctic is thought to be hugely rich in resources, with major players including Russia, Canada and the United States vying for control. But climate warming driven by humanity’s exploitation of fossil fuels is already severely affecting the region, with higher temperatures melting vast areas of ice in recent decades. Dozens of world leaders are due to meet next month…

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IMF may have its way

A Business Recorder exclusive news report has revealed that the government has agreed to pass on the withheld base tariff increase agreed with the International Monetary Fund (IMF) in the second to the fifth review talks in February 2021 – the major stumbling block in the unsuccessful sixth review talks held in June delaying the release of 750 million SDRs. The written agreement was to pass 1.39 rupees per unit of electricity on to consumers from 1 June 2021 while 1.95 rupees per unit had already been notified during the tenure of…

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ADB raises 2019–2030 climate finance ambition to $100bn

The Asian Development Bank (ADB) on Wednesday announced that it was elevating its ambition to deliver climate financing to its developing member countries (DMCs) to $100 billion from 2019–2030. “The battle against climate change will be won or lost in Asia and the Pacific,” said ADB President Masatsugu Asakawa. “The climate crisis is worsening daily, prompting many to call for increased climate finance. We are taking action to meet this call by elevating our ambition to $100 billion in cumulative climate finance from our own resources by 2030.” In 2018,…

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Dr Copper Flashing an SOS Signal?

Good things tend to happen to the global economy when copper rises and bad things when its price falls on global metal exchanges. That is why Wall Street lore has given copper a PhD in macroeconomics; because its price trends predict turns in the global economic cycle ahead of time, making it a rare leading indicator. Since it is used in most sectors of the economy, like homes, factories, electronics, power generation and transmission, Dr Copper usually provides a more accurate reading of the global economy’s pulse than most central…

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Russia Plans To Boost LNG Production To 140Mln Tonnes Per Year By 2035 – Putin

ussia plans to boost the production of liquefied natural gas (LNG) to 140 million tonnes per year by 2035 and take 20% of the global market, President Vladimir Putin said on Wednesday. “By 2035, we expect to increase the LNG production in Russia to 140 million tonnes per year, as well as strengthen our position in this dynamic market, occupying about 20% due to low production costs and competitive logistics,” Putin told the Russian Energy Week event.

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Bio-LNG deemed ‘absolutely urgent’ during world biogas event

During a virtual conference entitled, ‘Biogas: Driving the transition from fossil to green’ – hosted by the World Biogas Association and the World LPG Association, – bio-liquefied natural gas (bio-LNG) and its role in the maritime industry was discussed by Benoit Duee, Commercial Director at FOSMAX LNG. As countries across the globe take aim at reaching Paris Agreement targets and achieving net-zero goals, alternative fuels have seen widespread adoption in multiple industrial sectors. One such sector, the maritime industry, has been utilising the benefits of LNG for some time, with…

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Govt to enter into long-term GtG LPG Mupply Contracts

In a major development, the government has decided to enter into long-term government-to-government agreements for LPG supply and to this effect, the gas companies, Sui Southern and Sui Northern, have been asked to develop their stakes in the LPG cylinders market. “Yes, we have decided to have sustainable LPG supply in the country knowing the fact that the load gas production has dwindled to 2.8 billion cubic feet per day from 4.2 bcfd over the years. We have planned to enter into long-term GtG contracts with various countries for LPG…

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