Earlier in the year, supertanker freight rates hit record levels as traders scrambled to park crude in storage to take advantage of a record gap between spot and future prices shortly after Russia invaded Ukraine. Freight rates for very large crude-oil carriers (VLCC) along the Middle East Gulf to China route reached as high as $180,000 a day while VLCC…
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he Thar coal power project has started generating 1,320 MW on a trial basis and the electricity would soon become part of national grid, a senior official said on Sunday. “The test production of 1,320 MW has successfully been started,” Sindh Energy Minister Imtiaz Sheikh said in a statement issued on Sunday. “This production plant is being run in cooperation…
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With the country’s economic situation getting appalling, the documents have revealed that Pakistan’s energy sector is running completely on credit. The circular debt in the energy sector is also swelling as the government is unable to pay dues to independent power producers (IPPs). The documents available with SAMAA TV containing details of dues of the energy sector revealed that it is running…
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The press release added that the energy ministry submitted a summary of accrued interest with respect to the amount held in an escrow account in connection with the Reko Diq project dispute settlement. The statement highlighted that the federal and Balochistan government entered into an out-of-court dispute settlement with Tethyan Copper Company Pvt Limited with respect to the project. “In the light…
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The ongoing ‘default’ discussion is a favourite political and economic pastime. After the first decade since independence, Pakistan never got rid of a default threat. It will remain exposed to bankruptcy risk due to a continuously rising debt and the cost of servicing factor. It will remain dependent on external borrowing unless economy’s direction is not corrected. Pakistan’s financial condition…
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A team of the Oil and Gas Regulatory Authority’s (OGRA) Enforcement Directorate on Sunday stopped the illegal and dangerous activities of selling LPG in plastic shopping bags, taking place in parts of the provincial capital of Khyber Pakhtunkhwa – Peshawar. “OGRA team along with District Management visited different parts of Peshawar including Rati bazaar, Ashraf road and Khyber bazaar after…
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PVTIME – Recently, China’s National Experimental Platform for Photovoltaic and Energy Storage has announced the half-year empirical results of the Daqing Base, which is located in Datong District, Daqing City, Heilongjiang Province (124°E, 46°N), in the cold temperature zone. The MW-level array was established to study the impact of product selection and system design on power generation, and the periodic results…
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The BloombergNEF (BNEF) PV Module and Inverter Bankability report for 2022 has once again ranked LONGi as 100% bankable globally, based on the company’s financial stability and capacity. The ranking is based on BNEF’s annual survey of those involved in the global solar industry regarding PV module brands and new technologies. Survey responses were sought from banks, funding institutions, engineering…
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