The new discovery on the Slagugle prospect is just 14 miles north-northeast of the Heidrun Field, which was discovered by Conoco in 1985 when it was the operator for the exploration and development phase. Heidrun has been producing oil and gas since 1995. ConocoPhillips, the operator of the license containing the latest oil discovery on the Slagugle prospect, will now…
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Last month’s agreement to begin construction next summer of the Pakistan Stream Gas Pipeline – formerly referred to as the North-South Gas Pipeline – shows that Russia is raising its stakes in South Asia. It represents the evolution of its fast-moving rapprochement with Pakistan and gradual movement towards an eventual strategic partnership. The “military diplomacy” between the two which first…
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ISLAMABAD: Pakistan and the IMF are inching towards formal revival of the stalled Fund programme, as the government has decided to hike power tariff by 25-30 percent and to abolish up to Rs200 billion corporate sector income tax exemptions. The top political leadership has given go-ahead to the economic team to fulfill all the required prerequisites for revival of the…
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LAHORE: The World Bank Mission conducted a review of the status of implementation of Tarbela 4th extension hydropower project. The seven-member mission consisted of energy specialist and mission leader, senior procurement specialist, advisor, social development specialist, environment specialist, operations officer and programme coordinator. In its implementation support mission aide memoire shared with the ministry of water resources, ministry of energy,…
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ISLAMABAD: Energy experts have stressed the need for a strong and broad consensus among key stakeholders for curbing coal-based power generation and diverting 60% of energy mix to renewable resources by 2030 in Pakistan. At a consultative meeting held at the Institute of Policy Studies (IPS) on Tuesday, they termed solar power an irresistible and promising solution for advancing the…
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Islamabad: There was a broad consensus among key stakeholders during a consultative meeting on the need for checking coal-based power generation in the country and diverting 60 per cent of the total energy mix to renewable energy by 2030. The meeting was held at the Institute of Policy Studies to discuss IPS study on ‘barriers surrounding distributed generation’ with IPS…
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ISLAMABAD: The Economic Coordination Committee (ECC) is set to allow the Water and Power Development Authority (Wapda) to float Eurobonds in the global market for raising $500 million to meet foreign financing needs for Mohmand and Diamer-Bhasha dam projects. Sources told The Express Tribune that the Ministry of Water Resources had tabled a summary before the ECC, seeking approval to…
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The businesscommunity has rejected the increase in prescribed gas pricesas well as petroleum prices, Presidential Candidate of Businessmen Panel (BMP) Nasser Hayat Magoon, in a press release issued on Tuesday, said that the present government was adding to the miseries in the life of common man by its negligence to resolve the public issues. “The inadequate supply of gas to…
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ISLAMABAD: The wholesale electricity market in Pakistan appears to be a pipedream as the government first needs to strengthen the transmission and distribution infrastructure to achieve this target. This was the crux of a webinar organized by the National Electric Power Regulatory Authority (Nepra) on Tuesday. However, the representatives of key stakeholders like Discos and generation companies were not visibly…
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Islamabad – NEPRA has Tuesday said that Competitive Trading Bilateral Contracts Market (CTBCM) would be a game-changer for the power industry of Pakistan. NEPRA hosted a webinar on Competitive Trading Bilateral Contracts Market (CTBCM). A large number of renowned national and international experts and stakeholders of the electric power sector participated. NEPRA Chairman, Tauseef H. Farooqi opened the webinar by…
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