Day: November 3, 2022

Oil Prices Rise As Bullish Sentiment Builds

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Crude oil began trade today with a gain on the back of expectations that China may begin to ease its Covid restrictions and on data from the American Petroleum Institute pointing to another decline in U.S. crude oil inventories. China’s Covid lockdowns have been one of the big headwinds for oil prices, keeping a lid on any rally since the summer as one of the world’s biggest consumers continues with its zero-Covid policy. Yet stock price movement data this week reflects growing hopes that Beijing will soon begin to relax restrictions, which would have…

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The UK Looks To Repurpose Natural Gas Infrastructure For Hydrogen

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As the hype around green hydrogen intensifies, several energy firms and governments are exploring the potential for transforming existing natural gas infrastructure to be used to transport hydrogen as the world transitions away from fossil fuels. Now, the U.K. has announced a new development, trialing a hydrogen-gas project to see if this vision can become a reality.  The U.K. will trial using existing gas infrastructure with hydrogen to see whether it is possible to transform this infrastructure to be used in renewable energy projects, rather than constructing an entirely new…

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The Real Challenge For Europe’s Energy Market Will Come Next Year

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Europe is more or less prepared to face this winter with nearly full gas storage sites and a steady flow of LNG imports. The real concern about gas supply is for the winter after that, the top executives of Europe’s biggest oil and gas majors say.   As of October 31, gas storage sites in Europe were 95% full, with German storage at 99% full, according to data from Gas Infrastructure Europe.  The comfortable storage levels, the high rate of LNG imports, and the mild weather in October and early November have eased…

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KE approaches Dar for resolution of issues

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Karachi-Electric (KE) has approached Finance Minister Ishaq Dar for release of net receivables, issuance of tariff notifications and verification of claims amounting to about Rs 419 billion. In a letter to Finance Minister, Chief Executive Officer (CEO) KE, Syed Moonis Abdullah Alvi has given the reference of power utility’s earlier correspondence and discussions on this matter including KE’s letter of August 03, 2022 wherein Ministry of Energy, Power Division, was requested to expedite the process of release of pending claims, notification of Schedule of Tariffs (SoTs) determined by National Electric…

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AOG, NFEH, CSR Club Signed MOU’s to help genuine charities in Pakistan

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The Art of Giving (AOG) organized its first-ever Open House at the Port Grand to provide an opportunity for the leading non-profits of the country to display their philanthropic and noble social work to prospective donors. The AOG joined hands with the National Forum for Environment and Health and CSR Club Pakistan to combine at one place leading charities, philanthropists, and donors for mobilizing maximum resources for genuine charitable causes in the country. AOG CEO, Raheel Aslam, said the Open House was organized to celebrate the fact that eight out…

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