WTI slipped from $108 last week on news that the Biden Administration would release a million barrels of crude oil per day from the SPR for a period of six months, for a total of 108 million barrels. Critics of the plan argued at the time that the release—the biggest of its kind—would have little effect on the long-term trajectory…
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Instability in the energy sector as a result of skyrocketing prices was exacerbated by Russia’s invasion of Ukraine. Not only is the UK planning to revamp the way it generates electricity, but also it is looking to construct new nuclear power stations to secure independence from Russia and ease the pain on consumers. China is considering buying shunned Russian fuel…
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Germany will temporarily take control of a unit of Gazprom PJSC in the country as it seeks to safeguard security of gas supply. Gazprom Germania GmbH — owner of energy supplier Wingas GmbH and a gas storage firm — will come under the trusteeship of the German energy regulator until Sept. 30, Economy Minister Robert Habeck told reporters in Berlin.…
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An MOU between Oil & Gas Development Company Limited (OGDCL), Energy & Power Department, Irrigation Department and Public Health Engineering Department of Khyber Pakhtunkhwa has been inked to construct a Dam for Nashpa Greater Water Supply Scheme (NGWSS) in District Karak, KPK. Large population of Nashpa block had been facing acute shortage of drinking water, as there was neither ground…
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National Electric Power Regulatory Authority (Nepra) on Monday gave its assent to increase K-Electric (KE) tariff by Rs 1.29 per unit for February 2022 under monthly Fuel Charges Adjustment (FCA) mechanism. This was the crux of the public hearing conducted by Chairman Nepra, Tauseef H Farooqi, Member Sindh, Rafique Ahmad Shaikh and Member KP, Maqsood Anwar Khan. The KE team…
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The world is careening toward levels of global warming that will have irreversible impacts, a new landmark report says, but we already have the solutions — the only thing preventing us from taking advantage of them is political will and status-quo interests in fossil fuels. The third and final installment of the sixth UN Intergovernmental Panel on Climate Change report,…
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The energy department has finalised the Waste-to-Energy Policy 2021 as some firms have approached the provincial government for generating electricity and gas from waste in Jam Chakro, it emerged on Tuesday. Well-placed sources told Dawn that the companies had initially expressed interest to generate 150 megawatts from waste generated in the city. They said that aims and objectives of the…
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Sri Lanka’s new finance minister quit after one day in office as President Gotabaya Rajapaksa faced more calls from lawmakers to step down for mismanaging the economy, with soaring living costs triggering street protests that spiraled into a political storm. Ali Sabry, who was sworn in on Monday and replaced the younger Rajapaksa brother Basil, would have been part of…
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Pakistan Automotive Manufacturers Association (PAMA) has called out the government for demanding to rationalise car prices and said the country had a free market, and it was the market that decided prices, not the state. The auto industry is linked to the international market. The raw material and parts’ cost are very different and the government cannot fix car prices,”…
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