Category: Highlights

China will boost the production of more modern coal mines and enhance coal reserve capacity, and aims to increase the government-deployable storage to 5% of local consumption, the country’s state economic planner said on Saturday. The National Development and Reform Commission (NDRC) also said in a statement during the annual parliament gathering that it will guarantee coal transportation and further improve coal pricing mechanisms. The promises follow the central government’s approval of hundreds of new coal mining projects and output expansions at existing mines since the second half of 2021 after tight fuel supplies last year…

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Oil major Shell has sought to defend its decision to buy a heavily-discounted consignment of oil from Russia, saying it would commit the profits to a fund dedicated to humanitarian aid for Ukraine. On Friday, Shell purchased 100,000 metric tons of flagship Urals crude from Russia. It was reportedly bought at a record discount, with many firms shunning Russian oil due to Moscow’s unprovoked invasion of its neighbor. The purchase did not violate any Western sanctions. Shell said in a statement late Saturday that it had been in “intense talks…

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Saudi Arabia, the world’s largest oil exporter, could raise its official selling prices for Asia for April to the highest differentials to benchmarks on record, as buyers scramble to secure additional crude from the Middle East amid toxic Russian cargoes after Putin’s invasion of Ukraine. The Saudis are expected to raise significantly their official selling prices (OSPs), and Arab Light—the Kingdom’s flagship grade—could see its price for Asia next month at as much as $4.50 per barrel over the Oman/Dubai average, which would be a record high differential, three of…

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Western European nations are scrambling for ways to live without Russian natural gas, bracing for the possibility that either the Kremlin switches off the taps or political pressure for tighter sanctions erupts into a full energy embargo. With Russian troops advancing into Ukraine, European Union governments are concerned that the source of 40% of the region’s gas could either be interrupted in the fighting or by economic measures to contain Russian President Vladimir Putin. “We need to wean ourselves of the dependency on Russian gas and oil and we need…

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PAEC connects 1100MW K-3 nuclear power plant to gridISLAMABAD/KARACHI, March 04, 2022: Pakistan Atomic Energy Commission (PAEC) has connected Karachi Nuclear Power Plant Unit-3 (K-3) to the national grid. The 1100 megawatts generation capacity nuclear power plant (NPP) had achieved criticality on 21st February and was undergoing certain safety tests and procedures before it could finally be connected to the grid. The plant has been connected to the grid on testing basis and is expected to be inaugurated soon after attaining full power.It is pertinent to mention that K-3 is…

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