Category: News & Announcement

Despite the U.S. and Europe shuttering coal-fired power plants, coal remains a major fuel in global energy systems. In 2018, global coal demand rebounded and grew by 1.4% due to increased consumption in Asia, where coal consumption increased by 2.5%. This increased consumption was mainly from power generation, which reached an all-time high, increasing 3% in 2018 and accounting for almost 40% of global electricity generation. China remains the world’s largest coal consumer, using more than 50% of all the coal consumed in the world. According to China’s National Bureau…

Read More

Global oil consumption hasn’t peaked, the head of the International Energy Agency warned, throwing cold water on hopes the coronavirus will cap demand and reduce climate-changing emissions.“In the absence of strong government policies, a sustained economic recovery and low oil prices are likely to take global oil demand back to where it was, and beyond,” Fatih Birol said in an interview.The world consumed last year nearly 100mn barrels a day of oil, and some in the energy industry believe that could mark the peak for global demand. Their hypothesis is…

Read More

Paris, (APP – UrduPoint / Pakistan Point News – 27th May, 2020 ) :The energy industry is set to suffer a record drop in investment due to the coronavirus fallout, the IEA said on Wednesday, and while renewables are likely to fare better than oil, any swift economic recovery could create a global fuel crunch. In its annual report on energy investments, the Paris-based International Energy Agency (IEA) estimated the plunge will be of the order of one-fifth from 2019 levels, or almost $400 billion, as firms slash spending amid…

Read More

Najeeb Many think this should be a corona budget. Maybe it is more than that – a survival budget for the millions of citizens and businesses who need a lending hand. The pre-Covid-19 economy was saddled with a plethora of headwinds besieging growth to mere 1.9 percent in FY19 and to 2 percent in FY20. Budget FY21 has to design a blockbuster response to a shrinking economy between -0.38 percent and -1.5 percent in FY20 post Covid-19, giving an overwhelming sense of comfort that people remain healthy and that they…

Read More