OPEC’s de facto leader Saudi Arabia and OPEC+’s other members are discussing an oil production increase, OPEC delegates said on Monday, according to the Wall Street Journal. The full group will meet next on December 4 to set out OPEC+’s production plans for January 2023—and the group is reportedly considering an increase of up to half a million barrels a…
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One of the under-reported factors behind the ongoing diesel shortage is the loss of U.S. refining capacity since the start of the Covid-19 pandemic. Today I will discuss the factors that led to this loss. According to the Energy Information Administration (EIA), at the beginning of the pandemic U.S. refiners had 19.0 million barrels per day (BPD) of operable refining…
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Europe’s largest battery energy storage system by megawatts per hour will be officially online from today, marking a new era in power diversification in the UK. Harmony Energy Income Trust, which invests in battery energy storage assets in Britain, today unveiled its first portfolio project of 196 MWh in Pillswood, East Yorkshire – which uses Tesla technology to store energy.…
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Ms/Engro Powergen Thar Limited (EPTL) has expressed its concern over the delay in construction of dedicated transmission line for SECL (Thar Block-1) and lack of preventive maintenance at Block-2. In a letter to Managing Director NTDC and CEO CPPA-G, CEO M/s EPTL, Syed Manzoor Hussain Zaidi, EPTL has drawn the attention to longstanding issues of delays in construction of dedicated…
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Chairman Businessmen Group (BMG) & former President Karachi Chamber of Commerce & Industry (KCCI) Zubair Motiwala has said that Pakistan needs to increase exports but instead it is constantly declining because of unavailability of gas to industry. “How could the government expect from exporters to deliver and compete with Bangladesh and India when they have no gas. We are capable…
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Pakistan could be teetering on the brink of yet another fuel crisis. It is about time the policymakers take decisive actions that can eliminate such threats for good. A few days ago, the Oil Companies Advisory Council (OCAC), the representative body for the downstream petroleum industry, warned that a fuel shortage might occur in some regions of the country in…
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Attock Refinery Limited (ARL) is likely to stop operations within the next 7-8 days due to higher stocks of Furnace Fuel Oil (FFO) as the refinery is now operating on 60 per cent capacity, which may also hit supply of J-1 to Islamabad Airport and JP-8 to Pakistan Air Force, well informed sources told Business Recorder. The main reason for the…
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Policy changes and uncertainties in Pakistan have been a major bane for consumers and businesses alike. With frequently changing governments, important policies are made, changed, and scrapped just as rapidly. Solar energy, unfortunately, has not been an exception. Championed as one of the greatest assets for this country, solar energy has not been fully exploited to our benefit, nor has…
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France has approved legislation that will require all car parks with more than 80 spaces to be covered over by solar panels. This is part of a wider program that will see solar panels occupy derelict lots, vacant land alongside roads and railways, as well as some farmland. This is expected to add 11 gigawatts to the French electricity grid…
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