Category: Highlights

Russia won’t immediately resume exports of natural gas to Europe through its Nord Stream 1 pipeline, worsening a shortage that threatens to tip the continent into an energy crisis this winter. On Friday, Russian state energy giant Gazprom said it would not resume flows through the pipeline on Saturday as planned because it had detected an oil leak at its Portovaya compressor station. The pipeline has been shut since Wednesday for maintenance.It didn’t give a timeline of when exports might resume. “Until the issues on the operation of the equipment…

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German is acquiring liquefied natural gas (LNG) terminals as part of its efforts to diversify away from Russian gas. It leased four floating storage and regasification units (FSRUs) in May capable of importing at least 5 billion cubic metres (bcm) of seaborne gas per year, two of them due to become available this year. Wilhelmshaven will become the first LNG hub and Brunsbuettel the second, to be developed by Uniper and RWE, respectively.The Elbe river port of Stade and Lubmin on the Baltic Sea will receive the two other FSRUs,…

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Refining margins for 180-cst high sulphur fuel oil remained weak on Friday despite an uptick in cash differentials over recent trading sessions. The front-month crack was at a discount of $20.60 per barrel at the Asia close (0830 GMT) on Friday, declining further compared to an average discount of $16.59 per barrel over last month, based on Refinitiv data. Fuel oil demand for power generation is expected to soften further as peak summer has retreated in the Middle East, while plentiful supplies weigh on the market. Spot trading activity was…

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Capping the price of Russian oil, an approach G7 members said Friday they want to pursue “urgently,” would be an unprecedented move and one which some analysts say could backfire. Russian oil would be purchased at a discount from prevailing market prices, to limit Moscow’s profits as it prosecutes its war against Ukraine; but it would keep the price above the cost of production to ensure incentive for its export. The discounted rates, calculated separately for crude oil and refined petroleum products, could be regularly revised, according to a US…

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GoodWe donated it’s latest SDT G2 10kW inverter to Energy Training and Research Center-ETRC, one of the most prestigious training schools in Pakistan. GoodWe Pakistan’s Technical Services Manager, Mr. Ahmad Rafay Asad and ETRC Founder Mr. Faiz Bhutta participated in the ceremony and gave technical training to the Academy. With such initiatives, GoodWe aims to help the next generation of PV installers learn about the latest technologies and techniques. As the global energy demand is rising, Pakistan is one of the most growing markets for solar inverter business, targeting to…

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