Category: Highlights

A Japanese pledge to wind down gas and coal-fired electricity much faster than previously planned has sparked warnings Australia needs to speed up a transition away from fossil fuel exports. A draft revised energy mix released by Japanese officials on Wednesday said the country – Australia’s biggest market for liquefied natural gas (LNG) and thermal coal – would cut gas-fired electricity generation nearly in half and reduce coal power by more than a third by 2030. The plan, devised to help the country ramp up emissions cuts by 2030, would…

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Liquefied Petroleum Gas Distributors Association (LPGDA) Chairman Irfan Khokhar underlined the need for finalizing the new LPG policy in consultation with all stakeholders so that benefits of the commodity’s controlled price could be passed on to the consumers. The chairman, in a press statement issued here, said that draft of the new policy should be shared with all stakeholders, including LPGDA, before its finalisation. He was of the view that consumers had been getting the commodity at reduced rates due to the effective policy of the incumbent government, but now…

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The metals in the magnets are actually abundant, but can be dirty and difficult to produce. China has grown to dominate production, and with demand for the magnets on the rise for all forms of renewable energy, analysts say a genuine shortage may lie ahead. Some auto firms have been looking to replace rare earths for years. Now manufacturers amounting to nearly half global sales say they are limiting their use, a Reuters analysis found. Automakers in the West say they are concerned not just about securing supply, but also…

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Signs of recovery are gradually appearing. Exports grew around 18% in dollar value while imports rose around 26%. The imports outpacing exports resulted in a ballooning trade deficit of $31 billion. This is usual recovery story in a developing economy where imports normally exceed exports. Bourgeoning remittances of $29.4 billion played a major role in bridging the trade gap in FY21. However, debt servicing requirements were fulfilled through multilateral financing and commercial borrowing fetched through Eurobonds and Sukuk. Both exports and imports went down in FY19 and FY20. In those…

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The gross refining margin of Byco Petroleum — a vertically integrated energy firm with its own floating jetty, refinery and oil marketing arm — is expected to double from $3 per barrel to $6 once it completes the ongoing upgrade process by 2025, according to company chairman Mohammad Wasi Khan. Speaking to a group of journalists at the company headquarters on Friday, Mr Khan said Byco is adding as many as 14 plants to its processing facilities, which will turn 90 per cent of the refinery’s output into value-added, high-margin…

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