Category: Highlights

Oil prices up on large draw from US crude stocks

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Oil prices

NEW YORK: Oil prices settled more than 1% higher on Friday and recorded a weekly gain in low trading volume ahead of year-end, buoyed by a larger-than-expected drawdown from US crude inventories last week. Brent crude futures rose 91 cents, or 1.2%, to settle at $74.17 per barrel. US West Texas Intermediate crude futures rose 98 cents, or 1.4%, to $70.60 per barrel. On a weekly basis, both Brent and WTI crude gained about 1.4%. US crude oil inventories fell by 4.2 million barrels in the week ended Dec. 20…

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Oil drifts higher in sparse holiday trade

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oil price

LONDON: Oil prices edged up on Monday in thin holiday trade at the end of the year, as traders awaited more Chinese and U.S. economic data later this week to assess growth in the world’s two largest oil consumers. Brent crude futures rose 20 cents to $74.37 a barrel by 1208 GMT. The more active March contract was at $74.00 a barrel, up 21 cents. U.S. West Texas Intermediate crude gained 27 cents to $70.87 a barrel. Investors are eyeing China’s PMI factory surveys due on Tuesday and the U.S.…

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China issues at least 152mn T in 2025 crude oil import quotas, sources say

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crude oil

SINGAPORE: China has issued at least 152.49 million metric tons of crude oil import quotas to independent refiners in a second batch for 2025 so far, several trade sources said on Monday. These quotas are being issued in batches by provinces this year and follow a recent small batch of 5.84 million tons that was issued in November, the sources said. This brings the total volume issued for 2025 so far to 158.33 million tons (3.17 million barrels per day) versus a total of 179.01 million tons for 2024. Beijing…

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Solar Panels That Work at Night: A Game-Changer for Renewable Energy

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Solar-Night

Solar Panels That Work at Night: A Game-Changer for Renewable Energy December 30, 2024 Stanford Researchers Pioneer Nighttime Solar Technology In a groundbreaking innovation, researchers at Stanford University have developed solar panels capable of generating electricity at night using the phenomenon of radiative cooling. This technology holds promise for revolutionizing renewable energy, especially in off-grid and remote areas. Harnessing Radiative Cooling for PowerRadiative cooling occurs on clear nights when heat escapes from the Earth’s surface, radiating infrared energy into space. By attaching thermoelectric generators to standard solar panels, researchers harness…

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Minister for Power, Sardar Awais Ahmed Khan Leghari, Highlights Key Achievements in the Power Sector in the Last 9 Months in today’s Press Conference Electricity prices witnessed RS 11.33 per unit for industrial and Rs.4.66 per unit domestic decrease since June 2024Rs. 150 Billion eliminated in cross-subsidies for industrial sector Rs 55 billion earmarked for 27000 tubewells Agreemnets with IPPs results in Rs.411 billion national saving Bijli Sahulat Package with special tariff of Rs.26.07 per unit introduced

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power

Islamabad, Dec 28th, 2024 – The Minister for Power, Sardar Awais Ahmed Khan Leghari, presented a year-end review highlighting key achievements and ongoing initiatives aimed at transforming Pakistan’s power sector. Through innovative policies, substantial investments, and bold reforms, significant progress has been made towards ensuring energy sustainability, reducing electricity costs, and driving economic growth. The Minister stated, “The power sector has shown marked improvement in electricity prices. The average price of electricity has decreased to PKR 44.04 per unit from PKR 48.70 per unit in June 2024, marking a reduction…

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