Energy

Chevron says its business is resilient to climate change

Views - 20 Monday, 5 March 2018 00:08

Reuters - Chevron Corp said last week its business is resilient to a wide variety of possible climate change scenarios as the U.S. oil company and other producers come under pressure to invest less in oil projects and more in renewable energy. The cl


GE to develop world’s largest wind turbine in France

Views - 29 Monday, 5 March 2018 00:07

PARIS (Reuters) - General Electric plans to invest more than $400 million over the next three to five years to develop the world’s biggest offshore wind turbine, which will have a capacity of 12 megawatts and stand 260 metres (853 feet) tall. With


NDB Solar Vantage assists households to switch to solar energy

Views - 39 Monday, 5 March 2018 00:06

Many households have decided to opt for solar energy to power up their homes as it is a more cost efficient method to save fuel and energy in the long term. With this in mind, ‘NDB Solar Vantage’ has stepped up as the foremost solution that enabl


LAUGFS Gas, Platinum Sponsor of Sri Lanka Ceramics & Glass Symposium 2018

Views - 22 Monday, 5 March 2018 00:05

The Sri Lanka Ceramic & Glass Council will hold the seventh consecutive Ceramic and Glass Symposium at the Taj Samudra Hotel. This year’s theme ‘Value Migration through Sustainability’ will focus mainly on the innovation and global presence and


Bangladesh’s Summit Group plans Singapore listing for power unit by April

Views - 37 Monday, 5 March 2018 00:03

Singapore (Reuters): Electricity producer Summit Power International plans to list on the Singapore Exchange Ltd., (SGX) by April, what is likely the first company from Bangladesh to offer shares in the city-state, as it seeks to raise funds to inves


Nawaloka Petroleum expands operations to become preferred automotive solutions provider

Views - 33 Monday, 5 March 2018 00:01

Nawaloka Petroleum Ltd., a fully-owned subsidiary of Nawaloka Holdings Ltd., recently announced its plan for 2018 to expand operations in a bid to become the preferred automotive solutions provider in the country. Established in 2010, the company has


US to overtake Russia as top oil producer by 2019 at the latest: IEA

Views - 17 Monday, 5 March 2018 00:00

TOKYO (Reuters): The United States will overtake Russia as the world’s biggest oil producer by 2019 at the latest, the International Energy Agency (IEA) said, as the country’s shale oil boom continues to upend global markets. IEA Executive Direct


Surge in global oil supply may overtake demand in 2018: IEA

Views - 25 Monday, 19 February 2018 00:00

LONDON (Reuters) - The rise in global oil production, led by the United States, is likely to outpace growth in demand this year,


A year into OPEC’s production cuts, Asia’s oil markets have tightened

Views - 15 Monday, 19 February 2018 00:00

SINGAPORE (Reuters) - Just over a year into production cuts lead by OPEC and Russia, oil markets in Asia have tightened


OECD says energy taxes in developed economies too low to fight climate change

Views - 13 Monday, 19 February 2018 00:00

London (Reuters): Energy taxes in major advanced economies are not doing enough to reduce energy use, improve


Asia’s soaring gas demand opens window for new LNG projects

Views - 37 Monday, 19 February 2018 00:00

NUSA DUA, Indonesia/SINGAPORE (Reuters) - Soaring gas demand from China, India and Southeast Asia is sucking


India explores ‘cheap power’ sales to neighbours

Views - 23 Monday, 19 February 2018 00:00

NEW DELHI (Reuters) - India is exploring selling “cheap power” to its South Asian neighbours and Myanmar on a long-term


CEB calls for proposals for 90 solar power plants of 1MW capacity each

Views - 108 Friday, 26 January 2018 00:00

The Ceylon Electricity Board (CEB) has decided to call International Competitive Bids for the development of 90 small-scale solar


Brent crude dips below $ 70 after surprise rise in US inventories

Views - 14 Thursday, 25 January 2018 00:05

LONDON (Reuters): Benchmark Brent crude oil prices eased yesterday, pressured by a rise in US crude and gasoline inventories, but remained close to three-year highs. Brent futures fell 10 cents to $ 69.86 a barrel by 1330 GMT, having climbed above $


Gas price revision key to bridge gap between global price hikes and current retail price in Sri Lank

Views - 54 Thursday, 25 January 2018 00:03

LPG retailers in Sri Lanka have been compelled to increase the price of a domestic gas cylinder due to global LPG gas price hikes that have been ongoing since October 2016. The price of a domestic gas cylinder was increased by Rs. 110 by the Consumer


Brent could average at $64 in 2018: Report

Views - 14 Monday, 22 January 2018 00:09

The expected drop in OECD inventories suggests that oil prices will likely be higher in 2018 than originally seen and Brent crude oil price is projected to reach $64 per barrel (/bbl) this year, said the Bank of America Merrill Lynch (BofAML) in a ne


India to set up $350 m fund to finance solar projects

Views - 22 Monday, 22 January 2018 00:05

NEW DELHI (Reuters) - India will set up a $350 million fund to finance solar projects, Power Minister R.K. Singh said, as the country steps up efforts to achieve its ambitious target of adding 175 gigawatts (GW) in renewable energy by 2022.


Solanra powers national electricity grid with 1000 KW power in 2017 with German-made Jurawatt Solar

Views - 63 Monday, 22 January 2018 00:03

Solanra Ltd. has met their target of contributing to the national electricity grid with 1000 kilowatts power within one year using German made Jurawatt solar panels.


$ 24m Sino-Lankan venture involves farmers in green power generation

Views - 151 Monday, 22 January 2018 00:01

Farmers in the draught-prone Moneragala District in the south of Sri Lanka will soon be joining a $ 24 million Sino-Lankan joint venture to generate 10 MW of green power every day to add 70,000 MW of renewable energy to the Sri Lankan national grid.


Saudi Arabia converts Aramco into joint-stock company ahead of historic IPO

Views - 16 Tuesday, 9 January 2018 00:03

DUBAI (Reuters): Saudi Arabia has changed the status of its national oil giant Aramco to a joint-stock company as of Jan. 1, in a key step for an initial public offering (IPO) planned for later this year. The sale of up to 5 percent of Saudi Aramco,


CPC resurrects aviation fuel supply project stuck for over 3 years

Views - 94 Tuesday, 9 January 2018 00:03

An agreement to initiate aviation fuel supply project which was delayed over the years has been signed at the premises of CPC. The ceremony was chaired by CPC Chairman Dammika Ranatunga. Contract of construction of the aviation fuel supply project w


Oil little changed as rising US output offset OPEC worries

Views - 17 Tuesday, 9 January 2018 00:00

NEW YORK, Jan 8 (Reuters) - Oil prices were little changed on Monday, trading near their highest since May 2015, as political concerns in some OPEC nations offset projections for higher U.S. oil production. “Oil prices are finely balanced in today


Asian refiners face high volumes of Western naphtha

Views - 12 Monday, 8 January 2018 00:00

SINGAPORE (Reuters): Asia is set to receive up to 2.0 million tonnes of naphtha from the West this month, the highest amount in two years, putting pressure on light fuel margins that touched 22-month highs in November.


Asian coal prices hit late 2016 high amid huge shipping congestion

Views - 17 Monday, 8 January 2018 00:00

SINGAPORE (Reuters): Asian benchmark thermal coal prices have pushed to their highest levels since 2016, fuelled by demand in China and loading delays in Indonesia that have ramped up shipping congestion outside major coal ports


Quest for new oil discoveries globally still on back burner

Views - 17 Monday, 8 January 2018 00:00

LONDON (Reuters): Despite the strongest start for oil prices in four years, the world’s top oil companies are hesitating to accelerate the search for new resources as a determination to retain capital discipline trumps the hope of making bonanza di


China becomes world’s No.2 LNG importer in 2017, behind Japan

Views - 23 Monday, 8 January 2018 00:00

SINGAPORE (Reuters): China will become the world’s second-biggest importer of liquefied natural gas (LNG) this year as it overtakes South Korea, shipping data in Thomson Reuters Eikon showed.


India challenges China as world’s biggest LPG importer

Views - 18 Monday, 8 January 2018 00:00

SINGAPORE (Reuters): India is set to surpass China as the biggest importer of liquefied petroleum gas (LPG) this month as a drive to replace wood and animal dung fires for cooking boosts consumption.


Environment organisations’ response to cabinet proposal for two new coal power plants in Sri Lanka

Views - 366 Wednesday, 20 December 2017 00:00

Environment organisations in Sri Lanka have great concern about the proposal to build two new coal power plants in Sampur and Norochcholai despite their rejection by the PUCSL.


Sri Lankan power giant LTL Holdings reaches the pinnacle again

Views - 41 Wednesday, 20 December 2017 00:00

Having commenced operations with an investment of Rs. 8.5 million to manufacture transformers, LTL Holdings has today become the premier engineering company in Sri Lanka and has also extended its operations overseas


World Bank to cease financing upstream oil and gas after 2019

Views - 21 Wednesday, 20 December 2017 00:00

PARIS (Reuters): The World Bank will no longer finance upstream oil and gas projects after 2019, apart from certain gas projects in the poorest countries in exceptional circumstances,


Today's Columnists

Annuity-based PPP can expedite infrastructure developments

Tuesday, 22 May 2018

Sri Lanka has primarily relied on public finance for the development of public goods and infrastructure. While running


Is there value in surveillance? Ask the Chinese

Tuesday, 22 May 2018

Global commentary would suggest that surveillance (whether offline or online) casts a shadow on personal freedoms and any conversation that involves such spy games quite quickly descends into a 1984-esque discussion about dystopian futures. However,


Mangala’s Gam Peraliya: Good move but essential requirement a village level database

Monday, 21 May 2018

Finance Minister Mangala Samaraweera, announcing the Government’s decision to move for a flexible fuel price system based on international prices built into a pricing formula, made a side announcement as well.


New mandate to navigate ‘Nation’s management mentor’

Monday, 21 May 2018

I was delighted to be reappointed by the University Grants Commission (UGC) as the Director of the Postgraduate Institute of Management (PIM) for the second term of three years.


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