Energy

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

Views - 24 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 - 126 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 - 26 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 - 33 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 - 100 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 - 332 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 - 25 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 - 130 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 - 25 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 - 24 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 - 26 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 - 30 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 - 42 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 - 42 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 - 458 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 - 89 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 - 35 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,


$129 b in extreme weather losses last year: Climate report

Views - 22 Wednesday, 1 November 2017 00:00

AFP: Extreme weather caused some $129 billion (111 billion euros) in economic losses last year, said a report Tuesday that warned the bill will keep climbing as climate change boosts droughts, storms and floods.


Germany supports Sri Lanka’s path towards green energy future

Views - 45 Wednesday, 1 November 2017 00:00

It was no easy decision the jury comprising German Ambassador to Sri Lanka and the Maldives Jörn Rohde, Additional Secretary from the Ministry of Power and Renewable Energy D.D. Amarathunga and representatives of


NCPC and IDB sign MoU in efforts to promote greener environment

Views - 44 Wednesday, 1 November 2017 00:00

Responding to ever growing environmental concern for a greener world, the National Cleaner Production Centre (NCPC) held discussion with the Industrial Development Board (IDB) recognising the IDB’s outstanding ability and


JLanka boosts renewable energy transformation with future proof solutions at Techno 2017

Views - 46 Wednesday, 1 November 2017 00:00

Keeping true to their promise of pioneering renewable energy trends in Sri Lanka, JLanka Technologies unveiled some eagerly anticipated products and technologies at Techno 2017. As Sri Lanka’s leading solar solutions


Carbon dioxide levels grew at record pace in 2016, UN says

Views - 25 Wednesday, 1 November 2017 00:00

GENEVA (Reuters): The amount of carbon dioxide in the earth’s atmosphere grew at record rate in 2016 to a level not seen for millions of years, potentially fuelling a 20-metre rise in sea levels and adding 3 degrees to


How modern biomass energy technologies can boost business

Views - 139 Thursday, 7 September 2017 00:00

Mahir Brothers in Katugastota, in the Matale District, is one of Sri Lanka’s leading exporters of spices namely nutmeg, pepper, cloves and cocoa. For the past three generations, Mahir Brothers has tried to maintain the consistency of their produce,


HNB partners Aitken Spence as lead banker to Rs. 9 b first waste-to-energy plant

Views - 516 Tuesday, 15 August 2017 00:12

 HNB announced a timely partnership with Aitken Spence PLC to serve as lead arranger to a syndicated loan facility for the construction of a revolutionary 10 Megawatt (MW) waste-to-energy power plant.  The syndicated funding facility a


IEA says strong oil demand growth helping market rebalance

Views - 227 Tuesday, 15 August 2017 00:11

London (Reuters): World oil demand will grow more than expected this year, helping to ease a global glut despite rising production from North America and weak OPEC compliance with output cuts, the International Energy Agency said on Friday. The


Sri Lanka’s energy security pioneering towards solar energy

Views - 397 Tuesday, 15 August 2017 00:10

By Dinuka Jayasinghe During the pre-modern era, Sri Lankan energy requirements for heating, lighting and drying relied on plant-based flammable substances. With the arrival of new technology in the mid-19th century, the range of energy sou


AFD’s Proparco grants ¤ 20 m loan to DFCC Bank

Views - 238 Tuesday, 15 August 2017 00:08

To promote alternate energy projects and SME sector  Reaffirming its credentials as a preferred partner for international credit lines, DFCC Bank has been granted a long term loan of ¤20 million by Proparco, a subsidiary


HNB’s Corporate Banking’s Project Finance Team arrange finances for Wind Force’s 10 MW Solar Power P

Views - 538 Thursday, 27 July 2017 01:09

  HNB Deputy General Manager, Corporate Banking Ruwan Manatunga and HNB Head of Project Financing Business Majella Rodrigo HNB’s project finance team of their corporate banking division lauded the suc


JLanka boosts Trina Solar ties to cater industrial energy sector

Views - 485 Thursday, 27 July 2017 01:08

World’s leading solar company Trina Solar’s Asia Pacific, Middle East and Africa (APAC-MEA) Regional Marketing Manager Grace Ge     Hosts world’s global solar leader Trina Solar’s


Clarion International launches ‘Solar Power Branches’ in key cities

Views - 580 Wednesday, 19 July 2017 00:00

  Plans to further expand network across Sri Lanka in coming months  Clarion International Ltd. (www.clarionsrilanka.lk), a company with a 32-year track record that has saved the nation billions of rupees in energ


Today's Columnists

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Friday, 18 January 2019

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Evaluation of economic performance: 4 years into Yahapalana Government

Friday, 18 January 2019

The Yahapalana Government completed four years on 8 January this year. The four-year journey was a rough ride with a clear rift between the President and the UNP; the ruling party. The Government continues to face severe criticism from both inside an


Elimination of bribery and corruption

Friday, 18 January 2019

Bribery and corruption can be regarded as a malicious cancer that has penetrated into almost every strata of Sri Lankan state. It can be considered a major factor affecting Sri Lanka’s poverty, backwardness and indebtedness. Abuse of power by thos


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