Category: Highlights

The price of electricity is likely to go up once again as the Central Power Purchasing Agency (CPPA) has filed an application with NEPRA seeking power tariff increase by PKR4.69 per unit, it was learnt on Sunday. According to the details, CPPA on behalf of power distribution companies (DISCOs) except K-Electric has asked the National Electric Power Regulatory Authority (NEPRA) to approve Rs4.6954 per kilowatt hour (kWh) under FCA of July. NEPRA will conduct a hearing in this regard on August 31. Once approved, the increase will put an additional burden…

Read More

Latvians have been adjusting since the end of July, when Russia stopped supplying gas to the Baltic former Soviet state. “Energy prices are so exorbitant that we already cut off the hot water from the city pipeline and installed our own hot water boiler,” said Juons Ratiniks, who lives in the city of Rezekne, near the Russian border. “It is cheaper to use it when we actually need it than pay for constantly heated hot water,” supplied centrally, the retired border guard explained. Politicians need to understand that people expected…

Read More

The African region has gained significant attention recently for its burgeoning oil and gas industry, with new oil-rich states across Africa hoping to meet the continued global demand for fossil fuels. However, several African countries are also developing green energy strategies and investing in renewables. The African Union is expected to present a five-page document highlighting the benefits of developing the region’s oil and gas industry at COP27 later this year. Not only will the growth of the industry help several countries to develop their economies, but it will also present opportunities for…

Read More

Heatwaves this summer and expected natural gas shortages this winter are driving gas prices higher and higher. Europe’s benchmark gas prices surged by 14% in just three days to a fresh record-high, continuing the upward trend from recent weeks, as gas demand for power generation is high amid heatwaves and Russian pipeline supply remains at low levels, while the EU scrambles to fill gas storage ahead of the winter that would see energy and gas rationing, industries shutting down production, and households paying sky-high prices for heating and electricity. Europe…

Read More

Crude oil prices resumed their climb on Thursday, reclaiming some of the ground lost over the last month. At 1:30 p.m. ET, the WTI benchmark was trading at $91.09, a 3.38% gain on the day. WTI prices are still down from the $100+ barrel mark seen last month, as recession fears took hold of the market, threatening to subdue crude demand growth. Crude oil prices are still nearly $20 over where they were at the start of the year, and roughly $28 per barrel gain over the last 12 months.…

Read More