Category: Highlights

PM orders speedy completion of energy projects

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APP LAHORE: Prime Minis­ter Shehbaz Sharif on Sunday issued directives for speedy completion of solar and wind energy projects. While chairing a meeting on renewable energy, he said it was the government’s main priority to encourage the production of electricity through solar and wind energy sources. The renewable sources would produce low-cost and environment-friendly electricity, he added. PM Sharif pointed out that the last (PTI’s) government did not complete the solar and wind energy projects started by the previous government of Pakistan Muslim League-Nawaz. The 220 million people of Pakistan…

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America’s Vulnerable Energy Infrastructure Is A Threat To National Security

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With news reports of attacks on U.S. power grids rising to an all-time high last year, cyber security and energy infrastructure robustness are being called into question. As well as strengthening energy infrastructure in line with green transition developments and the increased connectivity of renewable energy operations, the U.S. must consider improving its cybersecurity to ensure it is resilient to being hacked, as threats against the grid continue to rise. A Government Accountability Office (GAO) review conducted in 2019 revealed some of the main challenges to grid security. These included…

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Why are BP, Shell, and other oil giants making so much money right now?

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The big oil companies – from the UK-based BP and Shell to international giants such as ExxonMobil and Norway’s Equinor – have been announcing astonishing profit figures. They are all benefitting from the surging price of oil and gas following the invasion of Ukraine. While they rake in the profits, people around the world are struggling to pay their energy bills and fill up their cars – leading to calls for higher taxes on these companies. So how are they making so much money, and should the government step in…

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Inflation may have peaked, but the cost of living pain is far from over

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At long last, Britain’s annual inflation rate is on the way down. After hitting the highest level since the 1980s, heaping pressure on millions of households as living costs soared, official figures this week could bring some rare good news. City economists expect UK inflation to have cooled for a third month running in January – the exact number is announced on Wednesday – helped by falling petrol prices and a broader decline in the global price of oil and gas in recent months. The hope now is for a…

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

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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…

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