The UAE’s state-run oil giant is reportedly considering a full or partial acquisition of Gunvor Group commodity trading house, both Bloomberg and Reuters report, citing unnamed sources. The UAE’s Abu Dhabi National Oil Co (ADNOC) has already undergone early-stage talks about buying the commodities house, according to Bloomberg, to merge Adnoc’s trading arm with Gunvor. Reuters likewise cites an unnamed source as saying…
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Policymakers need to look beyond this winter and stop vilifying the oil and gas industry if they want to prevent the next energy crisis, according to the chief executive of the world’s biggest oil company and largest crude oil exporter, Saudi Aramco. Amin Nasser criticized the short-term emergency responses to the energy crisis in Europe and said that the…
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U.S. natural gas prices have hit a fresh six-week low, closing at $7.75/MMBtu on Monday with the Wall Street Journal saying that the market has lost momentum due to U.S. production topping 100 Bcf/day for the first time ever. The odds are now that ample U.S. production will be enough to meet local demand in the final months before winter arrives.…
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Amidst a continuous denial from the Ministry of Energy over making any change to the net metering rates, National Electric Power Regulatory Authority has announced to hold hearing on downward revision of the tariff by almost 53pc. The National Electric Power Regulatory Authority has decided to hold a public hearing on the (Alternative & Renewable Energy) Distributed Generation and Net…
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World Bank’s Regional Vice president for South Asia, Mr Martin Raiser alongwith a delegation called on Federal Minister for Power Engr Khurram Dastgir Khan today. Minister apprised the Vice president about the unprecedented destruction caused by floods in Pakistan. He briefed on the devastation and accompanying economic misery of the people. He further highlighted how the untiring efforts of the…
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Abdul Rasheed, President Site Association of Industry has expressed serious concerns over 8 hours’ load shedding from 12:00 a.m. at night to 8:00 a.m. in the morning in SITE area on daily basis. He said that load shedding is bound to have adverse impact on the economy, particularly on export industries. As such, the government should ensure uninterrupted supply of…
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Rapid population growth and a minimally progressing economy have been widening the gap between demand and production of electricity day-by-day in Pakistan. Pakistan is ranked 34th in electricity consumption in the CIA World Factbook. While demand for energy has been increasing steadily, energy production is not growing at the same pace. As a result, Pakistan has been experiencing a persistent…
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Today, the 24th World Petroleum Congress (24th WPC) OrganisingCommittee for Canada (OCAN), is recognizing the “One-Year-To-Go” milestone, as momentum grows tothe 24th WPC in Calgary, Canada. The Congress, taking place from 17-21 September 2023, will bringtogether industry and government leaders, academia, NGOs and thought leaders from the financial,technological, innovation and stakeholder engagement sectors to engage in a robust discussion of…
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LONGi has announced a new world record conversion efficiency of 26.12% for its p-type silicon heterojunction (HJT) cells. The record, validated in testing carried out by the Institute for Solar Energy Research (ISFH) in Hamelin, Germany, was achieved on full-size (M6, 274.3cm2) gallium-doped p-type monocrystalline wafers and is the highest record for p-type cell efficiency to date, further confirming the…
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