The federal government is considering to revise the royalty of oil and gas deposits of Balochistan government, which is badly hit by the recent monsoon flooding, sources said. The new royalty will be based on last Petroleum Exploration and Production Policy, 2012, which will help achieve maximum self-sufficiency in energy and promote exploration and production activities by providing competitive incentives…
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These projects, with a total capacity of 3300 MW, include three projects to produce power by wind energy and two projects to produce power by solar energy. The total capacity of Wind energy production projects for this phase is 1800 MW, distributed as follows: Yanbu Project with a capacity of 700 MW Al-Ghat Project with a capacity of 600 MW Waad Al Shamal Project…
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The Public Procurement Regulatory Authority (PPRA) has termed tender approved by National Transmission and Despatch Company (NTDC) for laying 500KV Double Circuit Transmission Line as mis-procurement. The transmission utility has been held responsible for ignoring rules and regulation in the evaluation process for the procurement of design, supply, installation, testing and commissioning of 500KV double circuit transmission line from Tarbela-5th…
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In 2007, we became carbon neutral and in 2017, we became the first company of our size to match 100% of our global, annual electricity consumption with renewable energy. Today, we are the largest annual corporate purchaser of renewable energy in the world. Now, we’re carving a path forward to decarbonize our electricity supply completely and operate on 24/7 carbon-free…
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Chinese OEM Mingyang Smart Energy has been tapped by floating wind developer Hexicon to supply turbines for its flagship project off the UK. As part of the deal, Mingyang will supply 8MW units for the TwinHub array, being built in the Celtic Sea at the site of a former wave-power test facility, as well handling engineering and design for the…
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ind is an inexhaustible, clean resource. Capturing these powerful gusts is a critical component of many plans to replace fossil fuels with renewable, eco-friendly energy. Norwegian company World Wide Wind has designed an innovative floating, vertical-axis wind turbine (VAWT). With two sets of “contra” blades, these turbines known as contra-rotating vertical turbines (CRVT) have the potential to double the output…
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After getting the world’s first offshore wind turbine with recyclable blades up and spinning in August, Siemens Gamesa has just launched its RecyclableBlade for onshore wind power projects. The Siemens Gamesa RecyclableBlade for offshore was launched in September 2021 and installed at the 342 megawatt Kaskasi offshore wind farm in Germany in July 2022. Siemens Gamesa has not yet said…
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Islamabad: The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on 22nd September, 2022 at Islamabad announced the financial results for the year ended June, 30, 2022 of fiscal year 2021-22. Net sales revenue clocked at Rs.335.463 billion translating to profit after tax of Rs. 133.783 billion, showing an increase of 56 percent…
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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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