The world’s top oil exporter, Saudi Arabia, continues to try to tighten the world’s most transparently reported oil market by slashing crude oil shipments to the United States to the lowest levels in decades. OPEC’s de facto leader Saudi Arabia is estimated to have sent to America just 177,000 barrels per day (bpd) in August, according to tanker-tracking data compiled…
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Islamabad September 2, 2020: The PAC having agreed with the Chairman WAPDA and Auditor General of Pakistan that Neelum Jhelum Surcharge is being levied in the electricity bills despite completion of the Project and expiry of notification in the year 2015, unanimously recommended that Neelum Jhelum surcharge should no more be collected from the consumers of electricity through electricity bills…
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Central Power Purchasing Agency (CPPA) along with international consultants are in the process of developing a competitive market model for the power sector in Pakistan. The State of Industry Reports 2019 by NEPRA reveals some major issues with the development of the power market. The ground realities and the situation in the country are two of the most fundamental requirements…
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After extensive discussions in the cabinet’s energy and economic coordination committees, the government agreed to the demand of the oil industry to switch the petroleum pricing mechanism from a monthly to fortnightly basis on Arab Gulf Mean oil prices published in Platts Oilgram. The key objectives of the change in the pricing mechanism were to “ensure fair competition … alignment…
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ISLAMABAD: After questioning the justification for furnace oil-based expensive power generation, the National Electric Power Regulatory Authority (Nepra) on Tuesday reserved judgement on 86 paisa per unit increase in electricity rates demanded by ex-Wapda distribution companies (Discos). “The decision will be issued after carrying out analysis with regards to the statements made by National Power Control Center (NPCC) during the…
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Pakistan is keen for Turkey investment in the country’s northern areas bordering China to help boost tourism in the scenic region. The investment offer was extended by Ali Amin Gandapur, Minister for Kashmir Affairs and Gilgit-Baltistan, in a meeting with Gokhan Umut, head of the Turkish Cooperation and Coordination Agency (TIKA) in Pakistan. Around two million tourists visit these picturesque Gilgit-Baltistan…
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Venezuela once considered one of Latin America’s prosperous countries has plunged into the abyss. Years of economic mismanagement, cronyism and corruption have sparked a monumental economic collapse which saw the oil rich country become one of the poorest in South America. There are emerging signs that Venezuela is on the verge of becoming a failed state. Oil plays a dominant…
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BENTON COUNTY, Wash. – Scout Clean Energy (“Scout”), announced plans to add solar and battery storage components to a proposed wind farm that would be located just south of the Tri-Cities in Benton County, Washington. The innovative development will combine wind energy, solar energy, and battery energy storage in the same location – making more renewable energy available to customers…
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New research suggests that power companies are dragging their feet when it comes to embracing green energy sources such as wind and solar. Only one in 10 energy suppliers globally has prioritised renewables over fossil fuels, the study finds. Even those that are spending on greener energy are continuing to invest in carbon heavy coal and natural gas. The lead…
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ISLAMABAD -Two multinational companies are all set to start physical work on setting up their Liquefied Natural Gas (LNG) terminals during next few months after the government opened up the energy sector under its ease-of-doing-business strategy. “The government had allowed five private sector companies to establish their own LNG terminals, out of which two firms Exxon Consortium and Mitsubishi will…
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