ISLAMABAD: Several questions have been raised over the privatisation of power distribution companies, which include giving monopoly rights to buyers of power firms. It is imperative that issues are addressed before moving towards successful privatisation. These questions were raised by Special Assistant to Prime Minister on Petroleum Nadeem Babar, who was also the chairman of task force on energy. Babar…
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ISLAMABAD: The National Transmission & Despatch Company (NTDC) on Tuesday blamed the policy and procedural limitations and govern¬ment entities for certain deficiencies in the 27-year Integrated Generation Capacity Expansion Plan (IGCEP 2020-47).However, it said the deficiencies in the expansion plan will be fixed during the regulatory scrutiny.Responding to various interventions made by provincial governments and other stakeholders over the IGCEP…
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Mexico’s state-owned oil firm Pemex, which has US$105 billion in debt, is planning a debt swap for a total of US$22.4 billion long-term bonds, according to a filing to the SEC reported by Reuters. The Mexican oil firm has been amassing enormous debt for years, and in October last year, it carried out a massive operation to refinance around US$20…
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A new innovation center in Norway aims to find alternative and cost-efficient solutions aimed at reducing the huge US$100 billion decommissioning cost that the North Sea operators and countries face, researchers and officials told Bloomberg. The SFI Swipa (Subsurface Well Integrity, Plugging and Abandonment) center was granted the status of Center for Research-Driven Innovation for the next eight years by…
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A Russian vessel capable of completing the pipelaying for the Gazprom-led Nord Stream 2 natural gas pipeline project left a German port on Wednesday and entered Danish waters where the last section of the controversial pipeline has yet to be completed. According to vessel-tracking data from Refinitiv Eikon cited by Reuters, Russian ship Fortuna, sailing under a Russian flag, departed…
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Individual GCC states have settled on convoluted ways of distributing natural gas due to a lack of cooperationThe states bordering the Gulf are caught in a cat’s cradle of geopolitical complexity. This is as much the case within the Gulf Cooperation Council (GCC) as it is between certain GCC states and Iran. The muddle is clearly illustrated by the minimal…
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Pakistan Prime Minister Imran Khan has said that China-Pakistan Economic Corridor (CPEC) will be a ‘game changer’ for the motherland, bringing unprecedented prosperity and progress to the country. “It (CPEC) is a project that will take Pakistan to new heights [of prosperity],” Mr. Khan said after witnessing the signing of agreement with China Gezhouba for Azad Pattan hydropower project at…
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Taiwan-based TSMC signed a corporate power purchase agreement (CPPA) with Ørsted for the Greater Changhua 2b & 4 offshore wind farm on 8 July. TSMC will offtake the full production from the 920 MW wind farm, making this the largest-ever contract of its kind within renewable energy, according to Ørsted. The contract has been signed with a fixed-price and will…
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Pakistan’s energy sector has been in perpetual crisis, for one reason or another. From massive load shedding to expensive power and from untargeted subsidies to inefficient transmission networks – either or all keep making a comeback, from time to time. It is 2020 and the problems remain decade old – and getting worse in a few cases. Inaction has caused…
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LAHORE: When authorities started planting millions of trees in the Changa Manga Forest five years ago, the idea was to bring back life to forest land that had been destroyed by illegal logging, water scarcity and fires. Now that the trees have matured, they are having an even sweeter side-effect — helping to boost the local bee population and honey production…
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