Category: Highlights

After spiking for some time, crude oil prices tumbled in early December on concerns of continued weakening of the global demand. Global oil prices receded by more than 20 percent on the onset of business cycle slowdown around the world. This came after an explosive upcycles in commodity prices after the first wave of COVID. After peaking in mid-2022, demand destruction and weakened economic growth have resulted in slower petroleum and oil consumption. Factors like high oil and other energy prices initially also contributed to the global economic slowdown through…

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Scientists at the Lawrence Livermore National Laboratory in California have managed to get more energy out of a nuclear fusion reaction than they put in to trigger it, the U.S. Department of Energy announced Tuesday, a major breakthrough experts told Forbes is a huge step towards developing a near-limitless source of clean energy that is probably still decades away and will arrive too late to tackle the most pressing problems in the fight against climate change. Scientists have eyed nuclear fusion—the star-powering process that combines lighter elements like hydrogen and helium into heavier ones…

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As Pakistan’s energy import bill touched an exorbitant $27 billion, Prime Minister (PM) Shehbaz Sharif underlined the need to explore indigenous resources including hydel, solar, air and coal to produce cheap electricity. Federal Minister for Power Khurram Dastgir Khan stated that a 1,320MW project has been initiated by the Shanghai Electric Group in Thar to use indigenous coal for electricity production. “The plants have been connected to the national grid,” and that the initiative “was borne from the fruit of CPEC projects,” he observed. Pakistan is suffering from the impact…

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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 time charter rates for floating storage jumped to as much as $120,000 per day. But the situation has now reversed with supertanker rates plunging sharply. According to Bloomberg, ships capable…

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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 procurement and construction firms (EPCs), independent power producers (IPPs) and technical advisers from organisations involved in 557GW of financed capacity. All respondents recognised LONGi’s bankability and strongly endorsed the company’s…

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