A fire broke out early today at the Baytown refinery operated by Exxon, injuring four people. Law enforcement has called the fire a major industrial incident, the Wall Street Journal reported. No fatalities were reported at the 561,000-bpd complex. “ExxonMobil’s emergency response teams continue to work to extinguish the fire that occurred in a hydrodesulfurization unit at our Baytown Refinery this morning…
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The United States and Russia will likely hold bilateral talks to discuss Moscow’s security proposals next month as the Kremlin ramped up is rhetoric by again warning it was prepared to take military measures if the West launched “unfriendly” actions with regard to Ukraine. “We will decide on a date together with Russia, and we believe that that will take place…
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Around the world, momentum is growing behind the renewable energy movement. Nations are searching for solutions to power a cleaner, greener future, and bold plans are being set out to reduce carbon dioxide (CO2) emissions. The race is on to transition to a net zero energy system by 2050, and thus avert the crisis of global warming by limiting the…
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MOSCOW/KYIV (Reuters) -The European Union can only blame its own policies for record gas prices as some of its members resell cheap Russian gas at much higher prices within the bloc, Russian President Vladimir Putin said on Friday. Putin also called on the EU to approve a new Russian gas route, the Nord Stream 2 pipeline, to ease the price…
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The IEA’s Coal 2021 report shares worrying insights for India. The global power generation from coal is expected to take a leap by 9% in 2021, after consecutively falling in the previous two years. An all-time high of 10,350 terawatt-hours is the demand so far. India is the second-largest producer, consumer and importer has received a special attention in the…
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The officials and workers of Compressed Natural Gas (CNG) association on Friday carried out protest outside the head office of Sui Southern Gas Company (SSGC) in Karachi against the prolonged gas supply suspension. The protesters chanted slogans against the government and expressed their determination to continue sit-in till the restoration of gas supply to the pumps. They said that they…
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Federal Energy Minister Hammad Azhar said on Friday that the government would not supply imported Liquefied Natural Gas (LNG) to domestic gas consumers on lower rates. Addressing a news conference, the minister said that 10 to 11 cargos of LNG were tenders to meet the demand, but since the LNG prices had gone up on the international market the imported…
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Federal Minister for Economic Affairs Omar Ayub Khan acknowledged on Friday the receipt of $300 million from the Asian Development Bank (ADB) for energy sector reforms. The development comes after Pakistan and the ADB signed six financing loan agreements worth $1.544 billion. Apart from the energy sector, the funds received will also help strengthen foreign exchange reserves and stabilise the…
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Pakistan’s economic woes are aggravating with shrinking foreign exchange reserves, rising inflation, historic currency devaluation, and escalating current account deficit – forcing the country once again to borrow from external sources such as the IMF and Saudi Arabia. Trade deficit has registered an alarming increase by more than 117.25 percent in the first five months of the current fiscal year.…
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