A Chinese energy giant has bought the biggest independent producer of renewable energy in Mexico, giving the industry a vote of confidence even as Mexico’s authorities have moved to slow down private investment in renewable energy in the country. State Power Investment Corp (SPIC) of China, which has more than US$170 billion in energy assets globally, including in solar, wind,…
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While many Gulf nations were already working to diversify their economies prior to the coronavirus pandemic, the subsequent economic downturn and collapse in oil prices has meant that governments in the region have had to reassess and – in some cases – accelerate their strategic plans. The implementation of social distancing measures and travel restrictions has impacted activity across all…
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Final results from Pfizer Inc’s Covid-19 vaccine trial showed its shot had a 95 per cent success rate and two months of safety data, paving the way for the drugmaker to apply for an emergency US authorisation within days, it said on Wednesday. The vaccine’s efficacy rate, the highest of any candidate in late-stage clinical trials so far, was welcomed…
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ISLAMABAD: In a major development, the three-day Pakistan and Russia talks on 1,122-km high pressure RLNG pipeline from Karachi (Port Qasim) to Kasur (Punjab) ended with amendment in the Inter-Governmental Agreement (IGA) heralding the pavement for new era of strategic relationship between the two countries. Both the sides had earlier signed an Inter-Governmental Agreement (IGA) in 2015 when Russia was…
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KARACHI: K-Electric (KE) has launched a Rs10 billion investment initiative in power distribution infrastructure titled ‘Project Sarbulandi’ for those parts of the metropolis that suffer from the menace of power theft, the utility said in a statement. “With the vision of eradicating power-theft and the resultant segmented load-shed in Karachi, the Sarbulandi initiative aims to strengthen network health and theft…
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ISLAMABAD: The federal government on Monday could not make definite decisions on taking privatisation plan for Pakistan Steel Mills (PSM) and two LNG-fired power plants to the next stage and set up two separate committees to sort out issues hindering their sale for the past two years. The Cabinet Committee on Privatisation (CCoP) met to consider approval of the transaction…
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A parliamentary committee cleared “The China-Pakistan Economic Corridor (CPEC) Authority Bill 2020” with a majority vote despite resistance from the opposition, The News reported on Wednesday. During the NA Standing Committee on Planning and Development, chaired by Junaid Akbar, former minister Ahsan Iqbal presented seven reasons against the creation of CPEC authority. A heated debate ensued but the bill was cleared with…
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Islamabad, November 18, 2020: The Ministry of Energy (Petroleum Division) of Pakistan and Ministry of Energy of the Russian Federation held first Russia-Pakistan Technical Committee meeting from 16th to 18th November 2020 in Islamabad on mutual cooperation for the development of North South Gas Pipeline Project. The project is a flagship strategic venture between the institutions of Pakistan and Russia…
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Pakistan aims to ensure energy independence by leveraging its own natural resources. Hitachi ABB Power Grids will provide 550-kilovolt (kV) gas-insulated switchgear (GIS) to power generation equipment manufacturer Shanghai Electric. The Thar Block-1 project comprises two power plants with the capacity to generate 1,320 megawatts (MW) of electricity to the national grid. Hitachi ABB Power Grids’ high-voltage compact metal encapsulated…
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The issue of power purchase, and when it is made, has come up before. Recently, PSO said that it bought additional furnace oil to meet a shortfall by K-Electric in Karachi, so that the people of Karachi would not suffer. The question, however, is why furnace oil was bought when a few months before in August and September, LNG was…
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