April 2022
Day: April 24, 2022
Explosion at Nigerian illegal oil refinery kills over 100
More than 100 people were killed overnight in an explosion at an illegal oil refining depot on the border of Nigeria’s Rivers and Imo states, a local government official and an environmental group said on Saturday. “The fire outbreak occurred at an illegal bunkering site and it affected over 100 people who were burnt beyond recognition,” the state commissioner for petroleum resources, Goodluck Opiah, said. The bunkering site was in the Ohaji-Egbema Local Government Area of Imo state in the Abaezi forest that straddles the border of the two states.…
Read MoreBangladesh Opts to Sell Surplus Power to Neighbours
As part of the power sector master plans, Bangladesh started cross-border energy trade with neighbouring India in 2013 with only 500 megawatts of electricity import. Over the years, electricity import from India has climbed up to 1,160MW which is around 10% of Bangladesh’s total power consumption. Every year, Bangladesh pays around Tk5,000 crore to India for importing electricity through cross-border transmission lines. Nepal, Bhutan, and other neighbouring countries buy and sell electricity across borders with India through the Indian Energy Exchange. Bangladesh has been concerned with its surplus power during…
Read MoreWhy aren’t US Oil Producers Drilling More as Prices Rise?
In a free market, the saying goes, high prices cure high prices. If some good or service costs a lot, people will see an opportunity to make money producing more of it, thus driving down the price. Reality is messier. Oil prices have now risen to $104 a barrel. But investments in producing more, as measured by the number of oil rigs actively drilling for oil and gas, have barely responded. Since oil prices bottomed out in the middle of 2020, they have nearly doubled, but the number of new rigs…
Read MoreNEPRA Clarification
A spokesperson for Nepra has brushed aside accusations against Chairman Nepra, Tauseef H Farooqi with regard to his appointment and other issues. According to spokesperson, in the recent past news were published in media wherein about numerous litigations against the Chairman NEPRA before different forums, clarifying that all those cases were frivolous and filed by habitual litigants for ulterior motives whatsoever, therefore, all cases has been dismissed. The spokesperson maintained that in spite of dismissal of other write petitions, one more Writ Petition tiled as Tanveer Ahmad v GOP &…
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