The supply of Russian oil to three European countries through Ukraine has been halted as the transit payment cannot be processed due to sanctions, Russian firm Transneft said. “On August 4, the delivery of Russian oil via the territory of Ukraine was halted,” the oil pipeline operator said in a statement, adding that this had affected deliveries to Hungary, Slovakia…
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Nearly two years after Turkey halted offshore gas explorations in contested waters in the eastern Mediterranean, a Turkish drillship has departed from the port of Mersin to search for gas in the region. The Abdullhamid Han drillship set sail on Tuesday with the blessing of President Recep Tayyip Erdogan, who said that the ship would operate 55km (34.2 miles) off…
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This article is the fifth in a series on the BP Statistical Review of World Energy 2022. The Review provides a comprehensive picture of supply and demand for major energy sources on a country-level basis. Previous articles covered overall energy consumption, carbon dioxide emissions, petroleum supply and demand, and global natural gas trends Fossil fuels are primarily composed of carbon…
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Investors are wary of Pakistan’s default on Sri Lanka as the South Asian country grapples with rising commodity prices and tighter credit conditions. Pakistan’s foreign bonds maturing in 2024, 2025 and 2026 are trading briskly in distressed territory, according to Bloomberg data, at about 71, 65 and 63 cents per dollar, respectively. The country’s debt was one of the worst-performing…
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Pakistan’s finance minister said the government has taken steps that will put the country on the right track and help the South Asian nation avoid an economic collapse. But that will cause pain for its people, he added. The country is desperately fighting for its survival as the recent rise in commodity and energy prices have exacerbated its debt problems.…
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Prime Minister Shehbaz Sharif Tuesday exchanged views on matters of common interest with UAE President Sheikh Mohamed bin Zayed Al Nahyan during a telephone call. The two leaders review the progress and resolved to further strengthen ties while recalling the decisions taken during the visit of PM Shehbaz to the UAE in April 2022. According to a statement released by…
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GoodWe was listed as one of the top 3 hybrid inverter suppliers globally in 2021, taking around 13% global market share according to data released by Wood Mackenzie, the world’s leading authority on energy research. Since its establishment in 2010, GoodWe has been continuously focusing on PV inverters and energy storage solutions and has gained a competitive foothold in the…
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Muhammad Humair Karim, Secretary, Ministry of Economic Affairs, H.E. Ms. Lis Rosenholm, Ambassador of Denmark to Pakistan , signed an Inter-Governmental Framework Agreement between the Governments of Pakistan and Denmark. H.E. Ms. Lis Rosenholm, the Ambassador of Denmark to Pakistan also had a brief meeting with the Minister for Economic Affairs, Sardar Ayaz Sadiq in his office. He apprised the…
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In a shocking development, the country’s most important project — Dasu hydropower project’s stage -1 with the capacity to generate 2160 MW hydel electricity — has got delayed by three years, and the cost overrun cost is feared to have gone up by Rs100 billion. The project earlier scheduled to come on stream in 2023-24 is now to be completed…
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