Day: January 19, 2022

Korea: Researchers champion LPG as a green alternative bunker fuel

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A recent study conducted by researchers from Korea Maritime and Ocean University shows that using liquefied petroleum gas (LPG) could reduce air pollution, is low-cost, and is applicable regardless of ship size. “Although LPG is a potential eco-friendly alternative, its viability as a maritime fuel has not been assessed so far,” noted Korea Maritime and Ocean University in a joint statement on Wednesday (12 January). Considering the current economic feasibility vis-à-vis the regulatory laws and the available technology, LPG is a viable eco-friendly alternative fuel. Given its advantages and market…

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Renewable energy policy: provinces

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The approval of the Indicative Generation Capacity Expansion Plan (IGCEP) 2021-30 marked a major milestone for the development and planning of power sector. The approval itself was shrouded in controversy, with the Sindh representative opting to withhold his approval and subsequently Sindh government openly challenging this approval process. Nevertheless, it highlighted a key opportunity for growth in the energy sector: the need for provincial autonomy when it comes to power planning. Article 157 of the constitution of Pakistan authorises provinces to “construct power houses and grid stations and lay transmission…

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Crude Oil’s Latest Bull Run Puts Spotlight on Geopolitical Events

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Crude oil’s latest bull run, which saw Brent climb to its highest level since 2014 on Tuesday, has put geopolitics front and center of market concerns. Having spent the last year fretting over supply, markets and investors appear suddenly more spooked by the what ifs of global politics and its impact on still tight supplies. This week’s drone attack by Iranian-backed Houthi rebels on the UAE, along with fears that Russia’s aggression towards neighboring Ukraine will lead to war, are nudging crude prices higher. The spike comes despite a view…

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Moscow, Tehran talk energy ties ahead of Iranian president’s visit

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In addition, Owji planned to discuss options for shipping Iranian natural gas to Pakistan and India with the participation of Russian companies, and manufacturing of oil industry equipment, the broadcaster added. “The two sides also discussed preparation and the agenda for the next meeting of the Russian-Iranian government commission on trade and economic cooperation,” the Russian energy ministry said its statement on the energy talks ahead of the presidential visit. During his visit, Owji will hold talks with Russia’s main OPEC+ representative, deputy prime minister and former energy minister Alexander…

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Govt imposes 2.5 per cent sales tax on petrol

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Petrol-Price

The federal government on Tuesday imposed 2.5 per cent of the sales tax on petrol. According to the issued notification, the sales tax of 5.44 per cent has been imposed on diesel. The sales tax rate on kerosene has been increased to 8.3 per cent and on light diesel to 2.7 per cent. Under the sales tax notification, the price of petroleum products will remain stable till January 31. Earlier on Jan 16, the taxes, duties, margin and levies of Rs31.57 were imposed on the per liter prices of petroleum…

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