Asian demand for LNG is being hampered by sky-high prices of LNG cargoes due to intensifying competition from Europe, which is working around the clock to reduce its dependence on Russian pipeline gas supply. Europe is now the top destination of record-high U.S. LNG exports, while price-sensitive developing economies in the Asia Pacific are steering clear of the spot market…
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The European Union is proposing to ban coal imports from Russia in a direct response to reports that Russian forces committed apparent war crimes in Ukraine, European Commission President Ursula von der Leyen said Tuesday. The action on coal — which von der Leyen said would amount to 4 billion euros ($4.4 billion) a year — would allow for a…
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I have often noted that presidents have few ways to impact gasoline prices in the short term. However, one of the ways they can make a short-term impact is to release oil from the nation’s Strategic Petroleum Reserve (SPR). The U.S. created the SPR in 1975 following the 1973–1974 oil embargo, to protect against future oil supply disruptions. Although it is…
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Raw material and logistics inflation coupled with downward price pressures from auctions have led to an unsustainable situation where wind OEMs are selling at a loss, with the sector unable to deliver Europe’s planned tripling of wind capacity by 2030, industry leaders have warned. The state of the supply chain is ultimately unhealthy right now,” GE Renewable Energy chief executive…
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Lucky Cement, the largest cement producer in Pakistan, is launching a solar-plus-storage project with 5.589MWh of energy storage, which it claimed would be the largest in the country. The stock-listed company is partnering with local renewable energy firm Reon Energy to build the 34MW solar PV project with storage at its Pezu plant, located in the northern province of Khyber…
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While ringing bells on shortage of fuel stocks, National Power Control Centre (NPCC) has cautioned the government that operations of power plants will cease if immediate measures are not taken to make required fuel available. According to NPCC, as per merit order issued on April 1, 2022, power plants operation on alternate fuel, i.e., HSD, in case primary fuel is…
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Meezan Bank has recently signed an agreement with Sui Northern Gas Pipelines Limited (SNGPL), to enable digitalisation of consumer bill collection via the bank’s state-of-the-art Transaction Banking Solution (eBiz+). The agreement was signed by Irfan Siddiqui Founding President & CEO, Meezan Bank and Ali J Hamdani Managing Director & CEO, SNGPL in the presence of other key management members including…
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Allama Iqbal Open University (AIOU) has launched a tree plantation campaign at its regional offices and model study centres in all provinces of the country, Gilgit-Baltistan and Azad Jammu and Kashmir. According to Dr. Malik Tauqeer Ahmad Khan, Director Regional Services (DRS), regional directors have been directed to engage students, teachers and social activists in this plantation drive. Vice Chancellor,…
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Pakistan Atomic Energy Commission (Paec) engineers and technicians have completed the Re-Fueling Outage (RFO) of the nuclear power plant C-3 at Chashma in a record minimum time of 26 days. The RFO of the Pressurized Water Reactor (PWR) is a routine requirement for replacement of fuel and maintenance every 14 to 18 months, which is normally completed in 60 to…
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