Sui Southern Gas Company’s (SSGC) consolidated loss dropped 11.3% to Rs3.24 billion in the quarter ended September 30, 2018 due to an increase in revenue from the sale of gas, according to a bourse filing on Monday. The loss had been registered at Rs3.65 billion in the same quarter of previous year, according to the company’s profit or loss account…
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ISLAMABAD: The federal government has stepped up efforts for the transfer of K-Electric shares to Shanghai Electric Power of China but differences have not been resolved over the appointment of an arbitrator that will deal with the issue of receivables and payables. An application seeking the national security certificate for the transfer of 66.4% K-Electric shares to Shanghai Electric Power…
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ISLAMABAD: The federal government on Monday removed Secretary Power Division, Omar Rasul. According to an official notification, Ali Raza Bhutta, a BS-22 officer of Pakistan Administrative Service, presently posted as Secretary Poverty Alleviation and Social Safety Division, has been transferred and posted as Secretary Power Division. The sources said, last week, a disgruntled Secretary Power Division Rasul left the Ministry…
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A series of experiments carried out by an international group of scientists allowed them to achieve the equivalent of approximately 30 years of passive carbonation of mine tailings within four weeks. In a paper published in the journal Economic Geology, the researchers say that this accelerated carbonation of mining waste significantly increases carbon capture for environmental benefit and has the potential to recover…
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ANKARA: Turkish President Recep Tayyip Erdogan backed down on Sunday from looming conflict in the eastern Mediterranean by ordering a research ship operating in Greek territorial waters to return to the Turkish coast. Tension in the region had soared since the Oruc Reis seismic survey vessel and an escort flotilla of Turkish navy frigates was deployed last month near the…
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Leaks from last month indicate that a deal with colossal scope has been agreed between China and Iran. All the details of the agreement are not yet known, but the parts that have been reported show that this will be the biggest deal between China and any Belt and Road Initiative (BRI) country. However, considering the potential of both nations,…
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ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Sunday said that affordable and continued supply of electricity has become a dream for masses and the business community. Costly electricity is not only hurting the masses but is also adding to the cost of doing business as well as cost of production and exports, said FPCCI Vice President…
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With more than half of the country’s total capacity charges payable to state-owned power projects, the government has decided in principle to cut the return on equity (ROE) for all public-sector plants, including hydro, nuclear, old thermal and new regasified liquefied natural gas (RLNG)-based projects. The combined impact of the reduction in ROE for these projects has been estimated to…
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The world is past the era of growing crude oil demand, BP said in its annual energy outlook report, which was released today. The message of the outlook, according to media reports, is that oil consumption may never recover to pre-pandemic levels, and not just because of the pandemic itself but because of factors that have been at play long before…
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Renewables are set to be the fastest-growing source of energy in the coming decades, giving fossil fuels such as coal and oil a run for their money in many parts of the world. Sure, the world will continue to need oil, coal, and natural gas in the future, because energy systems cannot and will not switch to 100-percent low-carbon energy sources…
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