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.…
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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…
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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…
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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…
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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…
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Karot hydropower project’s unit one has started to run with a capacity of 180 megawatts (MW) on full load and is supplying energy to the national grid, The News learnt on Saturday. The energy produced from unit 1 would support the national grid in alleviating energy crises, CEO of Karot Power Company Limited Wang Minsheng said. He added that timely…
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Independent power producers (IPPs) are setting up five power projects that would have an accumulative capacity to generate up to 3963 megawatts (MW) by this year, official sources told on Saturday. The projects include Thar Coal, RLNG, and hydel based power generation projects. They are likely to start commercial operation during the current year, the sources said. They said Private…
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The government has decided to give charge of the Water and Power Development Authority chairman to Mr Naveed Asghar (Wapda’s member finance), as a summary has been moved to the office of the prime minister and the cabinet division in this regard. “After resignation of retired Lt-Gen Muzammil Hussain, the ministry of water resources has moved a summary to the…
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Despite surging oil and gas prices on the global market and the resultant rise in the import bill of two essential commodities in recent months, the two gas utilities are struggling to control their heavy losses against regulatory targets approved by the government. In the first two quarters of the current fiscal year (i.e. July-September and October-December), both gas utilities…
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