Optimism is supposedly back in oil markets, with the Global Research team at Bank of America lifting its oil price forecast for this year and next as demand recovers from coronavirus-linked shutdowns, the OPEC+ output cut deal curtails supply, and producers slash capital expenditure. The bank now sees Brent crude oil averaging $43.70 per barrel in 2020, up from a…
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KARACHI: Pakistan aims to generate 30% of its electricity from renewable energy sources by 2030 such as wind, solar, biomass and small-scale hydro. This will complement the 27% of current electricity supply coming from large-scale hydro. To this effect the 271 GE Renewable Energy wind turbines spreading over nine plants have a combined generating capacity of 450 megawatts (MW) –…
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In the K-Electric Board Meeting held on June 25, the Board expressed serious concerns about the inconvenience suffered by KE’s valued customers due to frequent power outages resulting from KE’s inability to procure adequate fuel stock. The meeting was chaired by Mr. Riyadh S. A. A. Edrees, with other Board members and KE’s Management in attendance. Amongst other matters, the…
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June July 2020
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KARACHI: Ministry of Finance has made clubbed amendments to the NEPRA Act with the Finance Bill 2020-21 to get it passed before July 1, 2020 as per agreement with the International Monetary Fund (IMF) aimed at empowering the regulator to pass on the cost of the inefficiencies of the power sector to the consumers through imposition of the Debt Servicing…
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Pakistan LPG Marketers Association has warned of imminent shortage of liquefied petroleum gas (LPG) in the country following discontinuation of an agreement between Sui Southern Gas Company (SSGC) and Jamshoro Joint Venture Limited (JJVL). “We have noted with great concern that production has been shut down at JJVL. Many of our member LPG marketing companies were receiving LPG from JJVL.…
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ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 24th Jun, 2020 ) :The government has so far released funds amounting to Rs287.289 million to execute seven petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs304.997 million. According to the official data as of June 19 that showed a slight readjustment in funds’…
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The Cabinet Committee on Energy (CCOE) has approved the abandoning of the proposed 700-megawatt Datang coal-based power project of K-Electric. The power project had been designed to run on local coal, once it is commercially available. Sources told The Express Tribune that in its letters written to the Ministry of Energy, the power utility had requested for a notification of…
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The Islamabad High Court (IHC) rejected on Tuesday an oil marketing company’s plea to stop the Federal Investigation Agency (FIA) from taking action against it in the fuel crisis case. Hearing the petition filed by Attock Petroleum, IHC Chief Justice Athar Minallah issued notices to the Ministry of Energy, Oil and Gas Regulatory Authority (Ogra), the government’s recently formed fuel…
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ISLAMABAD (Dunya News) – The gas companies have submitted a petition in Oil and Gas Regularity (OGRA) to increase gas tariff by Rs85-623 per mmbtu to be effective from July 01. The Sui Northern Gas Pipelines Limited (SNGPL) has sought the increase in gas price by Rs623 per mmbtu and Sui Southern Gas Company (SSGC) has pleaded for increase in…
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