Prior to 1992, a single part tariff based on cost plus on actual basis was in place in India’s power sector according to schedule 6 of Electricity supply act 1948. Single part tariff, though outdated due to several issues, is being reconsidered by some of the regulatory bodies to bring in transparency to the system along with making it more accessible to customer.
Prior to 1997, the rationale for a single part average tariff in transmission and distribution was that it is not cost effective or technically possible to segregate the various cost elements in the system. Unbundling tariffs would require system load studies on a dynamic basis to identify the nature and direction of flows to various constituents of the system. However, it was agreed upon that some form unbundling would better allocate costs and result in efficient outcomes. At that point of time, technology and operational constraints were major hindrances in implementing multi part tariff.
The reconsideration of introducing the single part tariff is to have a balanced approach where in customers interest can be taken care of in terms of actual usage of power with due consideration given to quality of power supplied. At the same time, it will be ensured that the distribution companies (discoms) recover their fixed cost incurred in laying down the necessary infrastructure. Utilities will prefer to have such a mechanism as it will reduce their risk of lower sales and hide much inefficiency. On the other side, it will reduce customer control with no incentive to reduce power consumption and increase efficiency at customer end. While prima facie, the idea of introducing single part tariff on the basis of minimum contracted load seems lucrative for the domestic consumers at short term, the impact of this on medium term and long term needs to be evaluated in details. The value chain of electricity comprises from generation to distribution with consumer being at the receiving end of the services. Besides economic contribution, electricity plays a major role in sustainable living for the common people. Hence the tariff setting process and its implications in calculation of final electricity cost plays a crucial role for each and every customer at large.
As the customers segment is fragmented and not homogeneous to each and every states, the applicability of such a system and its overall viability remains a question mark. While it may be designed for a set of customers, say domestic customers where there is predictability on the power consumption to a larger extent, designing such a system for other customers like agricultural and industrial nay be worrisome.
Consumers are majorly concerned about the electricity bills and the services they are getting from the utilities. They are least concerned about the operation of the distribution utilities and the way discoms function which is best left to the utilities and regulators to decide upon.
What it ails for the costumers at large?
The existing system of billing does not reflect various components of the fixed cost and the methodology on how the price fixing is done for arriving at the fixed cost per MW per month basis. Consumers often fail to understand the rationale behind the fixed price fixation. The arbitrary nature of price fixation for the fixed cost component has been always a bone of contention between the consumers and the utilities. It is perceived that the fixed cost component should be gradually declined while the assets are depreciating over a time period. Also, if there is no significant up-gradation of the assets owing to the increased contracted load or demand, it should be diminishing in nature only with O&M component forming the major part of the recovery.
Giving a break up of fixed charges and rationale for price increase would have been a good idea for the regulator to consider. Discoms need to clearly show these components to keep a track of its own spending for planning and revenue generation. In the absence of such a system, there may be an attempt to hide various other inefficiencies in the grab of higher fixed cost component in the distribution segment to mop up higher revenues for the distribution companies. DERC (Delhi Electricity Regulatory Commission) in a recent judgment hiked the fixed charges for high electricity consumers (under domestic category) above 2 kW contracted load. While consumers with 3kW, 4kW and 5kW would pay a fixed charge of INR 105, INR 140 and INR 175 per month, there will be a reduction of fixed charges for consumers with contracted load of 1kw ( INR 40 to INR 20 per month) and there is no change for consumers of 2kW contracted load. This is irrespective of electricity usage by consumers. The rationale for such a decision needs to be evaluated in details. It seems that it is an indirect way to pass on the cost without directly revising tariffs for the consumers.
Consumers are also worried about power quality and availability. The regulator is right when it says there is valid concern from consumers for not getting power for 24×7 but paying for the fixed cost for power outages and unavailability. Linking of the fixed cost at pro rata basis to the actual hour of power supplied will be definitely a good move from the regulator.
Though this system would sensitize the costumer to actually use less power and contract lesser load for its requirement, fixing a cap of contracted load from the regulator will not help them. In the same time, discoms would like to recover a certain amount from the customer and will not allow for a lesser demand from the customer. In these circumstances, it would be prudent to think of a system where in an annual connection load fee (bare minimum that would suffice to the discoms additional charges that cannot be passed on via fixed charges or variable charges) that can be collected over 12 months with monthly consumption charges.
Similarly for a consumer, who is consuming a higher amount of energy will end up spending the actual amount under the existing system. On the contrary, the consumer may want to game the system with showing less contracted capacity and consuming more units of energy and eventually stressing out the grid. The penalty system might not be deterrence to this in comparison with overall fixed charges asked for. This will result in frequent tripping if the single point contracted load is less than the actual withdrawal.
It will only create chaos at the short term and in the long term bulk domestic consumers would like to shift to stand alone systems or captive power systems. They may also switch to have their own roof top solar as an alternative. In this way, utility will have a greater risk in losing their loyal costumer which will dent their business perspective.
What is in store for the distribution Utilities?
The operational efficiency and management of power procurement and distribution at the utility remains a major concern for most of the utilities in India. Due to inaccurate demand prediction from the consumers, they fail to secure long term power procurement orders. Also, utilities show it as an excuse for not getting into fresh procurement contracts. Instead, they prefer to go for short term power procurement from traders or power exchanges at a high cost and pass on the burden to consumers. Regulators need to be more careful to this aspect so that additional unplanned burden should not be passed on to the consumers. In other way, utilities prefer in heavy load shedding in summer seasons or at the peak hours of operations. Sometimes, due to pressure from various sources (mostly political), they tend to overdraw from the grid, resulting a heavy penalty on the utility. It also jeopardizes the grid system security.
The lack of long term planning for system up gradation and securing future power procurement comes from the faulty demand forecasting at the consumer level. As consumers seem to show less contracted capacity but actually draw more than their contractual capacity, it puts both the grid system and its security at a higher risk. The proposed model will no doubt will put additional revenue to the pockets of power distribution utilities in short term as costumers will end up paying a higher amount. In long term, it will act as a catalyst to push inefficiency to the system and there is also risk of good performing discom going the other way around. It would be very difficult to assess the demand on annual basis and vague estimations of ARR (Annual Revenue requirement) might be a possibility.
Despite severe power outages, several regions in India show power surplus owing to the faulty data and information fed into the system. The proposed system will aggravate the situation further. This will project a false scenario that there is less demand from the consumer side and hence the power procurement planning may be effected. It may act as a blessing in disguise for the discoms to continue the ill practice of manipulating data at the demand end. Also, the transparency in the operations of distribution utilities stands a chance of being compromised. This is a structural issue; with government owned discoms play hardball showing that there is reduced shortage at their end while for private discoms this would be an opportunity lost in the system planning.
As far the domestic consumers are concerned, the solar roof-tops are anticipated to gain huge momentum as cost of power consumption shall not vary as per the rated or designated load but as per connections. With huge levels of discrepancies observed at load estimations of the country as utilities manipulate the data for drawl and injection, the single part tariff will act as a blessing in disguise for the discoms to continue the ill practice.
The Challenges for the Regulator:
On the regulators side also, there will be implementation challenges in fixing minimum contracted load for an individual consumer or to a group society at large. Whether it will be done by the utility or to be left with individual consumers or group housing society remains a question mark as of now? But regulators can come with a proposition to charge extra tariff where demand exceeds contracted amount to balance out for the grid stability and compensate the discoms provided services are provided.
The setting of proper benchmarks for contracted capacity for such a scenario would be a difficult task. Will it be based on income level of the person for an individual level or the life style it demands based on the appliances at the households? Similarly in the case of a society, where there are people from various income levels, electricity consumption level, life styles, it would be difficult to assess their demand and put strict contracted load criteria. This would also result in discrepancies and putting a benchmark on consumption level would be difficult. Averaging out may distort the overall balance towards either side (consumer or the utility). Also, the seasonal requirement adjustment of the fixed cost would be a big concern. Only changing the fixed component up and down without any proper framework would serve no purpose and it will be an eye wash only.
The utility needs to find out how much volume the consumer demands in terms of power consumption for a specific time for the experiment to succeed. Also, it needs to access the overall effect on the revenue streams from these consumers. Smart metering at consumer end can be an option where in “Time of Day” consumption can be tracked with power outage time to check on quality of power supplied. Besides this, it may be a boomerang for the utility as consumers are very sensitive to price and they will not allow such a system to be experimented with. One can also assume the political slugfest that may be created out of this. It would be better for the regulator to keep pressing for the technological interventions and installation of smart meters or pre-paid meters.
A comprehensive study may also be carried out after installation of smart meters to study the load profile in details and planning can be made thereafter accordingly. This can be taken by the regulators itself rather than passing it to the discoms. Regulators need to be sensitive on this issue as any changes made at the consumer level has a cascading effect on the entire value chain of electricity that is from distribution to generation. The effect on the other segments also needs to be studied in details before making any changes down the line. Any changes in the regulation should not be seen as a going back to the pre reformed era without proper evaluation of both sides of the string.
Gender equality for an inclusive energy transition
Women represent 32% of workers in renewables, a new survey and analysis conducted by the International Renewable Energy Agency (IRENA) reveals. This compares to 22% reported in traditional energy industries like oil and gas and over 48% in global labor force participation. IRENA’s report Renewable Energy: A Gender Perspective highlights significant opportunities for a greater gender balance in the global energy transformation. Based on responses from nearly 1500 participants in 144 countries, this new study is one of the largest surveys conducted on gender in renewable energy to date. It was presented to IRENA Members during a Special Evening Event at the 9th Assembly taking place in Abu Dhabi from 11-13 January 2019.
The global energy landscape is witnessing a rapid and wide-ranging change driven by an unprecedented growth of renewables. This transformation enables an array of social and economic benefits, including growing employment. IRENA estimates that the number of jobs in the sector could increase from 10.3 million in 2017 to nearly 29 million in 2050. The renewable energy sector offers diverse career opportunities along the value chain, requiring different skill sets and talents. The greater participation of women would allow this rapidly growing sector to draw on untapped female talents while ensuring the socially fair distribution of socio-economic opportunities of the global energy transformation.
Adopting a gender perspective to renewables development is important to ensure that women’s skills and views are part of the growing industry, participants in the survey recommend. Responses show that 75% of women, but only 40% of men, perceive the existence of barriers to women’s entry and advancement in the sector. The survey shows a similar gap about wage equity along gender lines: 60% of male respondents assume pay equity between women and men versus only 29% of female respondents. “Woman are often offered positions and say no because they believe they cannot do it”, said María Fernanda Suárez, Energy Minister of Colombia, encouraging woman to be bold. “We tell employers to employ women,” agreed Habiba Ali, CEO of Sosai Renewable Energies in Nigeria, “and we tell woman to stand up and say: I can do it.” Fiame Naomi Mata’afa, Deputy Prime Minister of Samoa, confirmed, “Gender equality is about social attitude. If this doesn’t change, nothing will move on”. Full support to gender equality in business by Harish Hande, Co-Founder of Selco India, “the fact that we are talking about gender in 2019 is shameful.”
Greater gender diversity brings substantial co-benefits, the survey finds. Mainstreaming gender perspectives, adopting gender-sensitive policies and tailoring training and skills development can help increase women’s engagement and ensure that women’s perspectives are fully articulated. Speaking at the Evening event, Gauri Singh from the Public Health & Family Welfare Department at the Renewable Energy Corporation in Madhya Pradesh agreed, calling on communities to empower woman. “We need clear and equal rules”, added Gabriela Cuevas Barron, Senator from Mexico and President of the Inter-Parliamentary Union (IPU). “We have to set up an ecosystem that allows woman to combine the professional with family life.”
Women bring new perspectives to the workplace and improve collaboration, while increasing the number of qualified women in an organisation’s leadership yields better performance overall. In the context of energy access, engaging women as active agents in deploying off-grid renewable energy solutions is known to improve sustainability and maximise the socio-economic benefits. “We don’t achieve our sustainable energy for all agenda if we don’t advance on gender balance”, Sheila Oparaocha, International Coordinator and Programme Manager at ENERGIA Hivos reminded, suggesting to “start building the business case.”
IRENA’s survey reveals that modern energy access reduces drudgery, improves well-being and frees up time for women and girls to seek an education and engage in income-generating activities. Women are ideally placed to lead and support the delivery of off-grid energy solutions, especially in view of their role as primary energy users within the household and their social networks. Actively engaging women in deploying off-grid renewable energy solutions requires a particular focus on training and skills development, followed by access to finance and mainstreaming gender in energy access programmes, according to the survey respondents. The socio-economic dividends of gender mainstreaming are immense; with several examples covered in the report suggesting improvements in women’s self-perception and empowerment within the community.
During the evening’s panel discussion, Kudakwashe Ndhlukula, Executive Director from the Southern Africa Centre for Renewable Energy and Energy Efficiency added that “from a renewables-side, we traditionally see women as victims. Now, we focus on ensuring that the benefits are shared equally.” Shawn Tupper, Associate Deputy Minister from Natural Resources Canada confirmed that new and 160th Member of IRENA intends to advance the gender agenda Internationally together with its partner.
While the 2030 Agenda for Sustainable Development specifically dedicates one goal to gender equality, detailed information related to gender equality in the renewable energy sector remains sparse. Renewable Energy: A Gender Perspective aims to contribute to filling this knowledge gap. Findings from the survey offer a glimpse into the current status of women’s participation in the sector and provide insights on what measures are needed, and by whom, to “engender” the energy transition.
Winners, losers and unintended consequences in the outlook for oil product demand
Debates about the future of oil tend to focus on total demand: how long it might continue to grow, when it might peak, and so on. But digging deeper into the prospects for individual oil products reveals a rich variety of stories of growth and decline that are also of great significance for the overall oil outlook.
Global oil consumption has been on an almost unbroken rising trend for decades, but there have already been divergent trends for individual oil products. Demand for heavy fuel oil, for example, has been declining since the 1980s, while the pace of demand growth for lighter products – such as ethane, liquefied petroleum gas (LPG) and naphtha – has been almost triple that of total oil demand.
In the World Energy Outlook’s New Policies Scenario, heavy fuel oil is set to face another blow when the International Maritime Organization (IMO)’s regulation on the sulfur content of bunker fuels comes into effect from 2020. Gasoline demand also peaks in the late 2020s as efficiency improvements, fuel switching and electrification weigh on oil demand for cars. But there are sectors where efficiency improvements or electrification are less effective in curbing oil demand, most notably the petrochemical sector.
As a result, demand for ethane, LPG and naphtha (mainly used as petrochemical feedstocks) continues to grow much faster than total oil demand in the New Policies Scenario. Robust growth in these lighter products (also known as the “top of the barrel”) means that their share of total oil consumption rises from 19% today to 23% in 2040. In contrast, the share of gasoline and heavy fuel oil declines from 33% to 28%. Refiners have coped with divergent trends for different oil products in the past, but the pace and extent of the changes envisaged in the New Policies Scenario still pose a significant test.
In the Sustainable Development Scenario, which provides an integrated strategy to meet Paris climate targets, achieve energy access, and significantly improve air quality, the share of “top of the barrel” products grows to an even greater extent. Oil demand in cars drops significantly; consumption for other transport modes – trucks, ships and aviation – also declines; but use in the petrochemical sector remains robust due to strong demand growth for chemical products in developing economies.
These changes engender a major shift in the composition of oil product demand. Demand for gasoline and diesel falls by some 50% and 35% respectively between today and 2040. Demand for kerosene and fuel oil also falls. By contrast, demand for ethane, naphtha and LPG grows by around 25%. LPG is also key in this scenario to tackle the negative health impacts associated with the traditional use of solid biomass as a cooking fuel in many developing countries. As a result, the share of lighter products rises to over 30% by 2040 in the Sustainable Development Scenario, which poses an unprecedented challenge for refiners.
Refiners are used to coping with changing demand patterns. In the past, these efforts were mainly focused on reducing heavier yields and increasing the output of gasoline and middle distillates (diesel and kerosene). The challenge in the Sustainable Development Scenario comes from a different angle: to increase the yield of lighter products and reduce the output of traditional refined products such as gasoline and diesel. Growth in the availability of natural gas liquids (NGLs) and lighter crude oil eases some of the pressure on refiners, at least in the near term. However, production of NGLs and of tight oil are both projected to fall back post-2025, while demand for lighter products continues to increase.
The mismatch between refinery configurations and product demand in the Sustainable Development Scenario would increase the incentives for refiners to deepen integration with petrochemical operations, and thereby boost the direct production of chemical products relative to transportation fuels. There are various technological pathways to increase chemical product yields beyond the levels that a refinery can typically produce (less than 10%).
Several Asian refineries have aromatics units attached to a refinery; high-severity fluid catalytic cracking technologies are being explored; while companies in China are building integrated petrochemical and refining facilities that aim to have chemical yields of around 40%. There are even more ambitious schemes being pursued in the Middle East to bypass refining operations and produce chemicals directly from crude oil.
Implications for the refining industry
The changes in product demand could also have profound implications for the business model of the refining industry. Today, refiners typically earn most of their profit from selling road transport fuels such as gasoline and diesel. Prices for petrochemical feedstocks – the main sources of demand growth – often trend lower than crude oil prices. The significant reduction in road transport fuel demand may therefore challenge this traditional pattern.
In theory, foregone profits in one area would be compensated by higher prices for products in high demand such as naphtha and LPG. While it is conceivable for the prices of these products to increase to some degree, it is hard to envisage a rise that fully compensates for the reduction in road transport fuels sales. The current interest in petrochemical integration reflects a desire to hedge against this risk by seeking out new business lines and revenue streams.
Implications for the energy transition
The IMO sulfur regulation is expected to increase demand for diesel and reduce that for high-sulfur fuel oil (HSFO) around 2020. This raises the prospect of a spike in diesel prices and a drop in HSFO prices, which could have broader economic ramifications beyond oil product markets. The regulation may provide an illustration of how changes in product demand can send ripples through the refining industry and then through the wider energy system.
Our projections highlight other possible mismatches between products demanded and refinery configurations, causing spikes or slumps in the price of individual oil products. While policy makers need to try to minimise the potential impacts of price spikes on energy consumers, they would also need to be attentive to the unintended influences of price slumps.
For example, if policy action were concentrated narrowly on the passenger car segment while other sectors – such as trucks, aviation, shipping and petrochemicals – were left relatively untouched, it would be difficult to avoid a glut of gasoline on the market once demand started to fall back. Efforts to curb oil use in passenger cars would therefore face much stronger headwinds because cheap gasoline would make efficiency improvements and electrification more difficult and expensive.
Avoiding such rebound effects would require removing fossil fuel subsidies or putting in place an offsetting tax or duty that maintains end-user prices at higher levels. Anticipating and mitigating these feedbacks from the supply side needs to be a central element of the discussion about orderly energy transitions.
Could tight oil go global?
Authors: Tim Gould and Christophe McGlade*
Tight oil production is today a largely US phenomenon. From less than 0.5 mb/d in 2010, production has surged to around 6 mb/d in 2018 and this growth shows little sign of slowing down any time soon. In the most recent World Energy Outlook, tight oil output continues to rise until well into the 2020s in the New Policies Scenario, reaching more than 9 mb/d. As a result, the United States reinforces its position as the world’s largest oil producer, accounting for almost one in every five barrels of production by 2025; it also become a net oil exporter.
This dramatic turnaround in fortunes has had profound implications for energy markets, and the consequences are also being felt beyond energy, for example in the renaissance of the US petrochemical industry. This example has also led many other countries to ask whether they too could experience a shale revolution.
So, what are the prospects for tight oil going global?
One key issue with tight oil production is the sheer number of wells that are needed to reach material levels of production. Production from an individual tight oil well declines very rapidly after it has been completed. If the rate of drilling drops, production is likely to follow suit shortly after. For example, in 2017, around 8 500 tight oil wells were completed in the United States and nearly 70% of these were needed simply to compensate for declines at existing wells. If no new wells had been completed after the end of 2017, we estimate that tight crude oil production would have fallen by around 1.8 mb/d within 12 months and by a further 0.6 mb/d in the next year.
The eternal tussle between innovation and depletion
A critical determinant of future production is having a sizeable resource potential. In theory, there are major tight oil resources in multiple countries. The latest assessment estimates that there are around 350 billion tight oil barrels that are technically recoverable outside the United States (triple the amount in the United States).
However, estimates of resource potential are subject to a huge degree of uncertainty. In some cases, this results in major upward revisions and in other cases to substantial downward revisions. For example, a recent reassessment by the United States Geological Survey (USGS) of the Permian shale play indicated that there were around 20 billion barrels more technically recoverable tight crude oil resources than was previously thought.
In our modelling, increases in the estimated US tight oil resource potential translate into higher projected production levels. For example, tight oil resources in the WEO-2018 (at about 115 billion barrels) are around 10% greater than in the WEO-2017, and production in 2025 is around 0.9 mb/d higher as a result.
Many observers expect further upward revisions in US resource estimates in the coming years. These should not be taken for granted, but they would be necessary to meet oil demand in the New Policies Scenario if the US shale industry is to compensate for a continued shortage of new conventional projects elsewhere.
In the end, as the United States has demonstrated, the only way to prove whether a resource is technically or economically producible is through drilling. A huge theoretical resource potential is no real indication that a shale industry can be successfully developed.
Tight oil is a relatively new production technique and many of the increases in resources in the United States have stemmed from technological progress. Yet even with continued innovation in the New Policies Scenario many of the most productive areas in the United States start to show signs of depletion by the mid-2020s (with the recoverable resource potential that we assume).
This means the average well drilled in 2025 is less productive than today and so a larger number of wells need to be completed to maintain or increase production. We estimate that achieving more than 9 mb/d tight crude oil production in the New Policies Scenario in the United States would require around 20 000 new wells to be drilled and completed in 2025. Thereafter, with our current estimate for recoverable resources, production starts to fall gradually.
How does the success of US shale affect prospects elsewhere?
The knowledge and expertise gained in the United States can clearly be of value in developing tight oil resources in other parts of the world. But, perhaps ironically, one reason for the lack of take-off of shale production (for both oil and gas) to date has been the degree of success in the United States. US tight oil was a central reason for the drop in the oil price in 2014 (and again in recent months), which dimmed the economics of similar production elsewhere.
The US shale sector has also absorbed a large portion of the attention and capital spending of international companies that could have otherwise invested elsewhere. Outside the United States, shale remains a relatively high-cost, poorly-understood resource that poses challenges stretching from access to land and availability of water to bureaucratic hurdles. A critical mass of activity and learning is necessary to generate economies of scale and bring down breakeven prices. But getting the momentum going for this is tough.
To date, only a limited number of countries have achieved some success with tight oil production. Canada produces around 0.4 mb/d tight oil and initial drilling in Argentina has been promising and suggested that resources could be large. Production there stands at around 50 kb/d today. Results have been less promising elsewhere, China, South Africa, and Ukraine all experimented with tight oil, for example, but production targets have been lowered or drilling abandoned altogether.
Despite these near-term difficulties, the New Policies Scenario does eventually see some spread in tight oil. Projected growth is most apparent in Argentina, Canada, Russia and Mexico, and there are also increases in Australia, China and the United Arab Emirates. By 2040, there is more than 3.5 mb/d of tight oil production from areas outside the United States. Crucially, the upturn in tight oil production does not really occur until after production in the United States reaches its peak of production.
As it becomes more difficult for companies to find commercial resources to develop, this encourages them to seek out opportunities elsewhere. There is, of course, a high degree of uncertainty in these projections. Developments could take off sooner if ongoing drilling activity is particularly successful (in Argentina for example), but could also be delayed if the oil price is suppressed for extended periods.
What if the world accelerated a transition away from hydrocarbons? Lower oil demand and prices in our Sustainable Development Scenario would pose a challenge to both the established shale industry in the United States and the more nascent industry elsewhere. Yet tight oil is also arguably a logical choice for many companies faced with uncertainty about the future. Decline rates are high and so there is less need for a long-term outlook on demand and prices. Operators need just enough market visibility to know when to increase or throttle back on drilling. Tight oil is also generally a relatively light crude oil that is well suited to provide the kinds of products in most demand in the Sustainable Development Scenario.
So, an accelerated energy transition would not necessarily constrain tight oil production as much as other types of resources. But, as we have emphasised in previous WEO analysis, prospects in individual jurisdictions also depend on the way that social and environmental concerns are addressed, as the scale and intensity of shale development can have major implications for local communities, land use and water resources, as well as for emissions.
In the world depicted in the Sustainable Development Scenario, there is likely to be even greater attention placed on these aspects. The prospects for tight oil going global depend not just on what is available below the surface, but also on how effectively and credibly these ‘above-ground’ issues are managed.
*Christophe McGlade, WEO energy analyst
Renewable Energy the Most Competitive Source of New Power Generation in GCC
Renewable energy is the most competitive form of power generation in Gulf Cooperation Council (GCC) countries, according to a new...
China’s Soft Power Diplomacy on North Korean Nuclear Crisis
For about the last two decades, North Korea’s nuclear weapon development program has become one of the major issues of...
World Bank Group Announces $50 billion over Five Years for Climate Adaptation and Resilience
The World Bank Group today launched its Action Plan on Climate Change Adaptation and Resilience. Under the plan, the World...
SIHH: Master Ultra Thin Tourbillon Enamel
The new Master Ultra Thin Tourbillon Enamel features a new tourbillon movement and a new-look date counter. They form a...
Pakistan Securing Its Maritime Interest and CPEC
The IOR is a major sea route that unites the Middle East, Africa, and East Asia with Europe and America....
Making Globalization Work: Climate, Inclusiveness and International Governance Top Agenda of the WEF 2019
The World Economic Forum Annual Meeting 2019 will take place on 22-25 January in Davos-Klosters, Switzerland. The meeting brings together...
How Has the Purpose(s) of American Higher Education Changed Over Time, and Why?
Initially, universities and colleges have been founded on three central promises such as (a) teaching, (b) public services, and (c)...
- Centre and Calm Yourself and Spirit on Restorative Yoga Energy Trail
- Queen Rania of Jordan Wears Ralph & Russo Ready-To-Wear
- OMEGA watches land on-screen in Universal Pictures’ new film First Man
- Experience the Prada Parfum’s Way of Travelling at Qatar Duty Free
- ‘Get Carried Away’ With Luxurious Villa Stays and Complimentary Private Jet Flights
Tech News3 days ago
Report: Deloitte named a global leader in Internet of Things
Americas3 days ago
The Secret Logistics of America’s Global Deep State
Southeast Asia3 days ago
France returns to Laos
South Asia3 days ago
CPSEC: The Saudi addition to CPEC
Energy2 days ago
Gender equality for an inclusive energy transition
Defense2 days ago
NATO generals do not believe in good relations with Russia
Religion2 days ago
The Evolving Orthodox Triangle Constantinople – Kiev – Moscow
Reports3 days ago
Global Commission Describes New Geopolitical Power Dynamics Created by Renewables