News

World is in its ‘first truly global energy crisis’: IEA head

Published

2 years ago

26/10/2022

CGTN:- Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis,” Faith Birol, the head of the International Energy Agency (IEA), said on Tuesday.

Rising imports of LNG to Europe amid the Ukraine conflict and a potential rebound in China’s need for the fuel will tighten the market as only 20 billion cubic meters of new LNG capacity will come to market next year, Birol said during the 15th Singapore International Energy Week.

The recent decision by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, to cut 2 million barrels per day (bpd) of output is a “risky” decision as the IEA sees global oil demand growth of close to 2 million bpd this year, he said.

For oil, consumption is expected to grow by 1.7 million bpd in 2023 so the world will still need Russian oil to meet demand, he said.

However, the energy crisis could be a turning point for accelerating clean sources and for forming a sustainable and secured energy system, Birol said.

“Energy security is the number one driver (of the energy transition),” said Birol, as countries see energy technologies and renewables as a solution.

The IEA has revised up the forecast of renewable power capacity growth in 2022 to a 20 percent year-on-year increase from 8 percent previously, with close to 400 gigawatts of renewable capacity being added this year.

Many countries in Europe and elsewhere are accelerating the installation of renewable capacity by cutting the permitting and licensing processes to replace the Russian gas, Birol said.

(With input from Reuters)

News

Police officers complete training to prevent maritime terrorism acts

Published

4 hours ago

17/05/2024

A team of 22 police officers has successfully completed a specialised training programme focused on thwarting maritime terrorism activities.

Entitled “Training on Strengthening Capabilities to Disrupt Maritime Crimes as Related to Terrorist Threats,” the program was conducted through a collaborative effort between the Maldives Police Service (MPS) and the United Nations Office on Drugs and Crime (UNODC). Running from May 13 to 15, the intensive training equipped participants with essential skills and knowledge crucial for combating threats in maritime environments.

The concluding ceremony, graced by the presence of Chief Superintendent of Police Ibrahim Adnan Anees, Head of Marine Police, along with senior officials from the Marine Police Department, UNODC’s Head of Office Enrico Boninsegna, and course instructor Kenneth Alferdo Pennington, highlighted the significance of such initiatives in enhancing national security.

Addressing the gathering, Adnan underscored the importance of ongoing education and skill development, urging participants to actively apply the knowledge garnered from the program in their professional endeavors.

The training, conducted at Dhoonidhoo, Kaafu Atoll, imparted vital insights into the prevention and detection of maritime terrorism activities, emphasizing protocols for safe navigation in high-risk areas. Furthermore, officers received guidance on investigative procedures essential for effectively addressing such crimes, thereby bolstering the nation’s capabilities in combating maritime threats.

Source(s): PsmNews

News

President reverts land act amendment to parliament

Published

4 hours ago

17/05/2024

President Dr. Mohamed Muizzu has reverted the Ninth Amendment Bill to the Maldives Land Act to Parliament for further consideration.

This bill, which seeks to establish criteria for recipients of residential land and mandates that land be allocated within three months of the publication of the permanent list of recipients in the gazette, was initially passed during the twenty-second sitting of Parliament’s first session this year and sent to the President’s Office for ratification on May 2.

In returning the bill, President Muizzu invoked Article 91(a) of the Constitution, which grants the President the authority to return legislation to Parliament for reconsideration.

The President’s Office has confirmed this, indicating the need for further review and potential revisions to the proposed amendment.

Source(s): PsmNews

News

President pledges to advance telecom and markets for Maldivian products

Published

4 hours ago

17/05/2024

President Dr. Mohamed Muizzu has pledged to lead the nation towards a future of improved telecommunications infrastructure while simultaneously fostering and securing markets for the commercialization of domestic products. These commitments were articulated by the president in commemoration of World Telecommunication and Information Society Day.

In a widely circulated social media post, President Dr. Muizzu affirmed his dedication to opening up the country to cutting-edge communication channels and platforms. Furthermore, he reiterated his unwavering commitment to leveraging international markets to showcase the talents and products of Maldivians, thereby generating revenue for the nation.

President Dr. Muizzu’s vision includes the introduction of innovative financial services and transactions within the country. In line with this pledge, the Bank of Maldives (BML) initiated financial transaction services in March, offering online money transfer platforms such as digital wallets. Additionally, preparations are underway to introduce E-wallet services, which will streamline financial transactions through platforms like PayPal.

Source(s): PsmNews