Category: Highlights

Japan recently announced a new energy target for 2030, a move that sent shockwaves through the global market for liquefied natural gas (LNG). The plan to cut LNG consumption nearly in half could spoil the plans of LNG exporters worldwide, from Qatar to the United States. Japan’s LNG cut The new draft 2030 plan aims to dramatically scale back on the use of fossil fuels in an effort to hit climate change targets. The plan calls for the use of LNG in power generation to fall to 20 percent of…

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Western electric vehicle (EV) makers are trying to reduce their dependence on rare earth metals from China. As tensions rise between that nation and others, including the United States, makers worry that supplies might become limited. Electric vehicles use special magnets to power their engines. Most are made from rare earth metals. The metals are not really rare. But they can be dirty and difficult to process. And, China has become the leader in producing them. Demand for the magnets is growing for all forms of renewable energy. Experts say…

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Norway, the country with the highest electric vehicle (EVs) share of new car sales anywhere in the world, is not giving up on one of its core industries. The oil and gas sector is a major employer and the key contributor to the so-called oil fund, the world’s largest sovereign wealth fund with US$1.3 trillion in assets and holdings of 1.4 percent of all of the world’s listed companies. The Norwegian government believes that the industry could reduce emissions and reach net-zero operations on the Norwegian continental shelf, at the…

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The government is yet to submit an alternative plan for power sector management to the World Bank, the lead agency in this sector, or demonstrate the generation of an additional Rs 100 billion through enforcement measures prior to re-engaging with the International Monetary Fund for the sixth review under the $ 6 billion Extended Fund Facility (EFF). A senior member of the government’s economic team told Business Recorder on condition of anonymity that work on the power sector management plan remains incomplete and therefore it has not been submitted to…

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To promote and recognize Pakistan’s bright, young entrepreneurs, ‘Shell Tameer Awards 2021’ has been launched, opening the application process from now until August 8th. This initiative is part of Shell LiveWIRE – a global flagship programme, locally named Shell Tameer, for enterprise development, envisioned to strengthen local economies, by promoting entrepreneurship and innovation. Start-ups and innovators in their prototype stage are eligible to participate under six categories. ‘Clean Energy Solutions’ (CES) category includes disruptive technologies for access to energy, off-grid solutions, energy-efficiency etc. ‘Empowering Women’ (EW) category invites innovative tech…

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