Day: February 26, 2025

IEA says Europe should replace Russian LNG with Qatari supply from 2027

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LNG

LONDON: European countries should consider replacing liquefied natural gas (LNG) imports from Russia with other sources beginning in 2027, the International Energy Agency director said on Tuesday. Fatih Birol was speaking at the International Energy Week conference in London. “Europe has been importing a lot of Russian LNG to help its economies,” he said. “It may be high time to replace this with LNG from Qatari and other sources from 2027,” Birol added. The global LNG market is expected to remain tight until 2027, when a wave of new projects…

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Aqib Javed defends team selection after Champions Trophy debacle

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aqib javed

Pakistan’s interim head coach and selection committee member, Aqib Javed, defended the team’s selection Wednesday after their early exit from the ICC Champions Trophy. Hosts Pakistan were knocked out of the tournament following back-to-back losses against New Zealand and India have led to criticism., which led to fans and experts questioning the team’s selection and performance. Speaking to the media in Rawalpindi, Javed insisted that the squad was chosen based on merit. “This is the best team we’ve selected. Every player in the squad has performed well,” he said. Responding to criticism…

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Oil holds at two-month low on rising supply concerns

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Oil holds at two-month

LONDON: Oil prices held at two-month lows on Wednesday as a potential peace deal between Russia and Ukraine continued to weigh on prices while lower U.S. crude stockpiles provided some support. Brent crude eased by 3 cents to $72.99 a barrel by 1142 GMT while U.S. West Texas Intermediate crude oil futures gained 3 cents to $68.96. Prospects for a peace deal between Russia and Ukraine are improving, ING commodities strategists said in a note on Wednesday, adding that the market was also watching for potential implications of a minerals…

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India must double renewable capacity additions to meet 2030 clean-energy targets, report says

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double renewable capacity additions

India must double renewable capacity additions to meet 2030 clean energy targets report say February 27, 2025 India must double its annual solar and wind capacity additions over the next five years to meet its 2030 clean-energy targets, despite record additions in 2024, Global Energy Monitor (GEM) said in a report on Wednesday. India added nearly 28 gigawatts (GW) of solar and wind capacity in 2024, with solar power additions accounting for 70% of total additions, according to the country’s renewable energy ministry. The country has set a target to…

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Will 18% GST on net metering slow down Pakistan’s solar boom?

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18% GST on net metering

In a key development on the renewable energy front, the Federal Tax Ombudsman (FTO) ordered that solar net metering consumers in Pakistan pay an 18% sales tax. The decision was made after discovering a significant revenue loss of approximately Rs9.8 billion, as reported by Business Recorder on Tuesday. Under the ruling, the sales tax will be applied to the total amount of electricity supplied by power distribution companies (DISCOs), without considering the net metering arrangement. This means that consumers will be taxed on the full amount of electricity they receive, not just the…

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