Talks between OPEC and its allies are zeroing in on a delay to next year’s planned oil-output increase of three to six months, according to several delegates. Saudi Arabia and Russia, leaders of the 23-nation coalition, have already indicated publicly that they are thinking twice about easing production cuts in January as the resurgent pandemic hits fuel demand. The presidents…
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ISLAMABAD: In a turning point in the pricing of regasified liquefied natural gas (RLNG), the Oil and Gas Regulatory Authority (Ogra) on Wednesday reduced to about 6.3 per cent — from about 17pc in the past — the cost of losses in tariff through a majority decision. In doing so, the regulator also notified the RLNG price for last four…
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Chairman of Prime Minister’s Taskforce on Science and Technology Dr Atta ur Rehman on Tuesday remarked that the Pfizer vaccine, being celebrated worldwide, is not suitable for Pakistan. “This vaccine is not suitable for Pakistan in my opinion,” the former head of the HEC told Geo Pakistan, and warned that it was “too early to celebrate” the news regarding the…
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The 10th Joint Cooperation Committee (JCC) meeting on CPEC is about to happen. The agenda is being finalised and preparations are in full swing. The Government of Pakistan intends to discuss a host of infrastructure projects during the meeting, besides the three priority special economic zones. But in the meanwhile, some interesting developments are taking place globally and regionally that will…
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A World Bank (WB) study launched Tuesday suggests that a major scale-up of variant renewable energy (VRE) could help Pakistan save US$5 billion in costs over the next 20 years, mainly from reduced fuel consumption. “Pakistan should quickly implement a major scale-up of solar and wind generation,” the report advised. The study, titled Variable Renewable Energy (VRE) Integration and Planning,…
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After a lapse of more than 11 years, the Central Working Development Party (CDWP) has finally approved a 26MW hydropower project in Skardu, which would be completed under the federal Public Sector Development Programme (PSDP). The Shagharthang Hydropower Project, which was initially approved in 2009 at an estimated cost of Rs3.356 billion, would now be completed at Rs8.616 billion. The…
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For converting the MoUs signed with the IPPs into final legal agreements, the government is currently engaged in finalizing the templates and to this effect the IPPs are also on board. According to a senior official, the government team will soon invite the IPPs’ CEOs to get the templates for final amended Power Purchase Agreements (PPAs) approved. Under the MOUs…
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ISLAMABAD: Pakistan’s reliance on coal to generate power is economically unviable and it needs to swiftly move towards adding about 24,000 megawatts of wind and solar-fired power in the next 10 years to reduce the cost of power generation, says a new study of the World Bank. The Variable Renewable Energy Planning and Integration study suggests that Pakistan should quickly…
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The Sui Southern Gas Company Limited (SSGC) will receive additional 38 Million Cubic Feet per Day (MMCFD) gas to meet its demands, as the federal cabinet has ratified the decisions of the Economic Coordination Committee (ECC) taken in this regard. According to sources, the federal cabinet met on Tuesday under the chair Prime Minister Imran Khan to take certain important…
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Another month, another blatant violation of merit order. It so appears that the power producers, the purchasers, and aggregators, do not think much of rules. The September power purchase data is out, and the furnace oil keeps its position out of merit, in the power generation order. For the fourth month running, FO based power generation has crossed 5 percent…
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