The PTI government is quite serious to start next week renegotiations of Power Purchase Agreements (PPAs) with Independent Power Producers (IPPs) with positive mode seeking relaxations based on mutual agreement, but not with the intent to harassthem as PPAs are supported by sovereign guarantees. To this effect, a committee headed by Federal Energy Minister Omar Ayub Khan, comprising other members…
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Who was pulling the strings of Usman Buzdar to get Rs3 billion subsidy for sugar industry approved, is not documented in official files but it is now clear that none else than the Economic Coordination Committee of the Cabinet (ECC) set the stage for sugar mill owners’ windfall. Not only that the ECC’s decision was referred to byboth the Punjab…
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Pakistan’s premier oil refining company, Byco Petroleum Pakistan Limited (BPPL) has informed that it has resumed production. In late march, the Ministry of Energy had issued an order to stop all import of petroleum products to all oil marketing companies to ensure that domestic refineries products are fully consumed. Fayaz Ahmad Khan, Vice President of Commercial at BPPL said: “Due…
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The Asian Development Bank (ADB) today tripled the size of its response to the novel coronavirus disease (COVID-19) pandemic to $20 billion and approved measures to streamline its operations for quicker and more flexible delivery of assistance. The package expands ADB’s $6.5 billion initial response announced on 18 March, adding $13.5 billion in resources to help ADB’s developing member countries counter the…
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One of India’s leading renewable energy companies, Adani Green Energy, has reported an impressive 30% increase in installed capacity between April 2019 and March 2020. In a statement, the company announced that it added 587 megawatts of solar and wind energy capacity in 2019-20, taking the total installed capacity to 2,545 megawatts. The commissioned assets include 2,148 megawatts of solar…
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Lower long-term LNG prices could encourage coal-to-gas switching in Northeast Asia, while Chinese LNG demand is also expected to expand this year, albeit at a slower rate, as China gets back to work. Asia Pacific gas demand was already under pressure as the coronavirus hit consumption in China and continued downside is likely as the world struggles to contain the…
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The Board of Directors (BoD) of K-Electric (KE) Limited in its meeting held on April, 09, 2020 at the KE Head Office, approved the Company’s financial results for the year ended June 30, 2019. During the reporting period, around PKR 40 billion was invested across the Company’s power value chain. KE remains committed to making further investments across the power…
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CAIRO: United Arab Emirates’ energy minister Suhail Al Mazrouei said on Saturday that an OPEC+ decision to cut oil supply will have a major impact on rebalancing the oil market amid the coronavirus outbreak. “The group’s decision to cut supply will be the largest ever cut in the history which will help balancing the oil supply and demand,” Al Mazrouei said…
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IYADH, (UrduPoint / Pakistan Point News / WAM – 11th Apr, 2020) His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense of Saudi Arabia, received today a telephone call from President Vladimir Putin of Russia, SPA reported. During the phone conversation, they reviewed the efforts being exerted to stabilise and maintain…
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ISLAMABAD, Apr 11 (APP):The Sui Northern Gas Pipelines Limited (SNGPL) has allocated an amount of Rs 38 million to support the government efforts to contain the spread of novel coronavirus (COVID-19) that took thousands of lives across the world in just few months. The SNGPL Board has directed the company to deposit Rs19 million in the Prime Minister’s Relief Fund,…
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