Day: May 9, 2022

Oil Is Here To Stay, But We Can Reduce Its Emissions

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Low-carbon oil seems pivotal to the future of fossil fuel production as it becomes clear that the world is still highly dependent on crude. Working to fill the gap left by Russia, countries and oil firms around the world are increasing their oil production and long-term output plans. But to achieve ambitious carbon emissions promises, low-carbon oil will be necessary. Several international oil majors have announced plans to shift their fossil fuel production to low-carbon oil, alongside natural gas, in the coming years as they strive to reduce carbon emissions…

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Energy crisis: LNG terminal operators set to ink long contracts

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With Federal Minister for Power Division and State Minister for Petroleum Affairs in place, the government, headed by Shehbaz Sharif, has carved out a plan to wriggle the country out of the energy crisis under which the LNG terminal operators would be allowed to utilize their excess capacity for importing more LNG and would be permitted to ink long LNG supply agreements on BtB (business to business) basis. And more importantly, some of the underutilized capacity of 600mmcfd that the government has purchased in PGPL terminal will be doled out…

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G7 to phase out Russian oil, US sanctions Gazprombank execs

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Group of Seven (G7) nations committed on Sunday to ban or phase out imports of Russian oil and the United States unveiled sanctions against Gazprombank executives and other businesses to punish Moscow for its war against Ukraine. The move represents the latest attempt by the West to put pressure on Russian President Vladimir Putin for his country’s invasion of Ukraine and the deadly aftermath that ensued. President Joe Biden joined G7 leaders in a video conference call with Ukrainian President Volodymyr Zelenskiy to discuss the war, support for Ukraine, and…

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Floating solar project: World Bank invites Pakistan to hold talks on $341.5m loan

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world-bank

The World Bank (WB) has invited Pakistani authorities for negotiation of $341.5 million loan to set up 300-MW floating solar project at Tarbela – Ghazi Barotha complex, official sources told Business Recorder. The Floating Solar Projects (FSPs) will supply zero emission electricity to meet peak daytime demand in summer and facilitate storage of water in the Complex to meet peak demand in the winter. The proposed project focuses not only on deployment of the first FSPs but also on technology transfer, innovation, research, and technical capacity building for hybrid operation of…

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China’s 14th Five-Year Energy Plan Signals a Step-down for Coal Power to Play a Supporting Role in Electricity Transition

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China’s electricity sector has been undergoing a clean revolution over the past few years, primarily driven by exceptional growth in wind and solar power. However, rising wind and solar power create the need to reconfigure the electricity system to accommodate a changing generation mix while ensuring supply security. The main focus of the 14th Five-Year Energy Plan is to facilitate such a system-wide change, where coal will step down into a supporting role before its complete phaseout.22 April 2022 – by Muyi Yang and Achmed Shahram Edianto China’s 14th five-year…

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