Year: 2023

Fixing power sector will be a long haul

Admin

Pakistan’s energy imports – petroleum, LNG, LPG, and coal-stood at $25 billion in the last fiscal year. Within it, the share of transport is the highest while its efficiency in usage is woefully low. This is not sustainable and has to change. In the medium to long term, the focus has to shift on indigenous energy resources, including renewables, to produce electricity, and by using primary energy sources efficiently. Transportation, especially public and logistic transport, must slowly move towards electric. The good news is that upcoming projects in the IGCEP…

Read More

Britain’s biggest gas supplier accused of ‘profiteering’ from energy crisis

Admin

Britain’s biggest gas supplier, the Norwegian state-owned oil company Equinor, has been accused of “profiteering” from the energy crisis and higher household bills after posting record annual earnings of £62bn. The oil and gas producer said on Wednesday that adjusted profits hit $15.1bn (£12.5bn) in the final three months of last year, bringing total annual profits to $74.9bn, the highest in its 51-year history. France’s largest oil and gas company, TotalEnergies, one of the biggest operators in the North Sea, also reported record annual profits on Wednesday. Its adjusted earnings…

Read More

BP Declares Force Majeure On Azeri Crude Loadings From Turkey’s Ceyhan Port

Admin

BP Azerbaijan is the operator of the sections of the Baku-Tblisi-Ceyhan (BTC) pipeline in Azerbaijan and Georgia. BP-operated assets in Azerbaijan include the Azeri-Chirag-Gunashli (ACG) oilfield, the massive Shah Deniz gas field, the Baku-Tbilisi-Ceyhan (BTC) pipeline, and South Caucasus Pipeline (SCP). Ceyhan is the key export outlet for Azerbaijan’s oil and ships out around 650,000 barrels per day (bpd) of Azeri crude. The Ceyhan oil terminal in southern Turkey temporarily suspended operations on Monday after the earthquake in Turkey and Syria. The oil terminal is around 155 kilometers, or 96…

Read More

US natgas gains on rising LNG exports

Admin

US natural gas futures gained about 2% on Thursday after dropping to a 25-month low in the prior session on rising LNG exports and forecasts for slightly colder weather over the next two weeks than previously expected. That small price increase came ahead of a federal report expected to show last week’s storage withdrawal was bigger than usual for the first time this year as cold weather boosted demand for gas to heat homes and businesses. Analysts forecast US utilities pulled 195 bcf (billion cubic feet) of gas from storage…

Read More

ADB supports Sindh govt to add fleet of Electric busses to People Bus service Karachi

Admin

he Sindh government and the Asian development bank (ADB) have agreed to collaborate to procure another fleet of Electrical Vehicles to include them in the Peoples Bus Service already operating in Karachi.This emerged in a meeting between Sindh Chief Minister Syed Murad Ali Shah and the ADB delegation led by its Country Director Mr. Yong Ye. The other delegation members were Unit Head, Project Administration Mr. Dinesh R. Shiwakoti, Unit Head Urban, Water & Emergency Assistance Mr. Mian Shaukat Shafi, Senior Climate Change Specialist Mr. Nathan Rive and Senior Portfolio…

Read More