Category: Highlights

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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At least five people are believed to be injured after an explosion occurred at Engro Powergen Thar Limited’s (EPTL) coal power plant in Thar on Wednesday. In a statement, Engro said that the explosion occurred at 5pm in the coal conveyor unit of the plant’s 330MW unit 1. The company said that five people were “affected directly” without elaborating further, but said that they were stable and being provided the necessary medical aid. “Immediately the safety and emergency response teams were activated. At this point in time, our foremost priority…

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