Category: Recent Post

M/s Engro has claimed that it had been in discussion with concerned stakeholders on dry docking since October 2019. The company says that government-to-government LNG agreement requires LNG to be delivered in LNG carriers at Port Qasim and limits any other vessel to bring cargoes on FOB basis. Therefore, the original plan to bring a filled FSRU had to be changed, which also increased complexity of the dry-docking activity. Despite this challenge, EETL and Excelerate Energy met the shutdown dates by managing the channel movement of FSRU Excelerate Sequoia to…

Read More

Hydropower, the “forgotten giant” of low-carbon electricity, will need major policy support to help accelerate the expansion of solar and wind power and put the world on track for net-zero goals, the International Energy Agency (IEA) said on Wednesday. Hydropower currently provides one-sixth of global electricity generation and is the single largest source of low-carbon power—and more than all other renewables combined, the IEA estimates. In 2020, hydropower was the third?largest electricity generation source after coal and natural gas, the Paris-based agency said in its first report on this energy…

Read More

Ministry of Energy has blamed an LNG terminal operator for installing an old Floating Storage and Regasification Unit (FSRU) on a new terminal, which has been damaged and has to be shut down for seven days. In a statement, the Ministry of Energy said that a used FSRU was installed by the previous government in March 2015. It was developed in 2009 and was installed in Pakistan after overhauling. A new FSRU needs to be overhauled twice in 15 years. When experts came to Pakistan for the Engro terminal in March 2021…

Read More

The Brent crude contract for August, due to expire on Wednesday, was up 28 cents, or 0.4% at $75.04 a barrel by 11:22 (1522 GMT.) The September contract was up 17 cents at $74.45 a barrel. U.S. West Texas Intermediate crude (WTI) was up 23 cents, or 0.3% at $73.21 a barrel. Both benchmarks are just below highs last reached in 2018, and are set to record their seventh monthly gain in the past eight months. A Reuters poll showed that Brent was seen averaging $67.48 a barrel this year…

Read More

China is in the middle of a huge power crunch as extreme weather, surging demand for energy and strict limits on coal usage deliver a triple blow to the nation’s electricity grid. It’s a problem that could last for months, straining the country’s economic recovery and weighing on global trade. Several Chinese provinces have said they are facing a power crunch in recent weeks, including some of the country’s most important engines for economic growth. Guangdong province — a manufacturing center responsible for $1.7 trillion, or more than 10%, of…

Read More