Year: 2023

Jan 23 power breakdown: Nepra forms probe body as entities adopt contrary stances

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National Electric Power Regulatory Authority (Nepra) has constituted a five-member inquiry committee to thoroughly investigate power breakdown due to contradictory stances of concerned entities. Due to system disturbance in the transmission network of NTDC, a total power system collapse occurred on January 23, 2023 around 07:34 a.m. which plunged the whole country into darkness and the system was completely restored after a longer time. According to an official statement, the Authority took serious notice of the above incident and acquired a preliminary report from NTDC and KE. Subsequently, a briefing/…

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Court Seizes Malaysia Oil Firm Assets Amid $15 Billion Dispute

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oil

A Luxembourg court has issued seizure orders for two units of Malaysia’s state oil company Petronas as part of an arbitration case brought against the Malaysian state by the descendants of a now-defunct sultanate in the Philippines. The court case is based on a deal made in the late 19th century by European colonists of Southeast Asia with the then-sultan of Sulu for the use of local land. Now, this land is part of Malaysia, which honored the 19th-century deal until 2013 and, as part of it, paid the descendants…

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Rising Metal And Mineral Prices Could Derail The Energy Transition

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Metals and minerals prices have soared over the last year, a trend that is likely to continue as the global demand for these resources continues to increase in line with the green transition. The price of lithium, cobalt, nickel, aluminum, and copper have all risen as renewable energy projects and battery manufacturing operations expand worldwide. While the scarcity of these resources is a major concern, many energy companies are also worried about the rising cost of metals and minerals as they plan for large-scale green energy operations. Between January 2021…

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Putin’s Gift To Exxon

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hen Russia invaded Ukraine nearly a year ago, few people would have imagined that the disruption of oil and gas supplies would push the fossil fuel sector to historical highs. In fact, shareholders were more concerned about the hefty charges and writedowns that multinational oil and gas companies might be forced to take on their Russian investments. And, their worst fears came true soon enough. On February 27, 2022, just days after Russia invaded Ukraine, British energy giant BP Plc. (NYSE: BP) announced that it would exit its 19.75% shareholding…

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NEPRA forms committee to probe Jan 23 power outage

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NEPRA forms committee to probe Jan 23 power outage February 17, 2023 After failure of Prime Minister’s designated inquiry committee in unearthing reasons of the January 23’s countrywide power breakdown, the National Electric Power Regulatory Authority (NEPRA) on Thursday constituted a committee to thoroughly investigate the matter. The power regulator said it had taken a serious notice of the outage and acquired a preliminary report from National Transmission and Despatch Company (NTDC) and K-Electric. Subsequently, a briefing/presentation by NTDC, KE, WAPDA and all distribution companies (DISCOs) was held on January…

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