The IEA made headlines today when it suggested that there should be no new oil and gas investments after 2021… If that were to happen – with a supply crunch already looming – the oil traders at OPC Markets would have a great time. Chart of the Week – U.S. residential energy consumption declined by 4% in 2020, despite people spending more time…
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After a delay of three months since the payments to the Independent power producers (IPPs) became due as per August 2020 MoUs, the federal cabinet on Wednesday finally accorded approval to the clearance of first installment to the IPPs. The government is due to clear these receivables till June 7, 2021. The 40 percent settlement of dues is expected to…
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The fourth Finance Minister Shaukat Fayaz Ahmed Tarin of the coalition government of Pakistan Tehreek-i-Insaf (PTI). Immediately after taking oath of his office on April 17, 2021, is faced with the daunting challenge of preparing budget for fiscal year 2021-22 amidst very difficult times when the country is faced with economic meltdown due to Covid-19 endemic, especially after the third…
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A solar boom is helping Poland take a big step towards weaning itself off coal as a new homegrown photovoltaic technology is poised to be a game-changer in harnessing the power of the sun. Poland has long trailed other members of the European Union in solar power, but recent government subsidies have seen solar panels pop up on roofs nationwide…
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Engro Elengy Terminal Private Limited (EETL) could not expand its re-gasified liquified natural gas (RLNG) capacity due to red-tapism, while the approvals are awaiting clearance from National Accountability Bureau (NAB), The News learnt on Wednesday. Sources said Sui Southern Gas Company (SSGC) is not giving necessary approvals on account of unsubstantiated excuses, like violation of procurement rules and NAB inquiries.…
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Karachi Nuclear Power Plant (NPP) Unit-2 (K-2) will be formally inaugurated on Friday at a virtual ceremony to be held simultaneously at Islamabad,K-2 NPP Karachi and Beijing, China. Prime Minister Imran Khan will be the chief guest at the ceremony. K-2 is a generation III, state of the art plant with improved safety systems, especially internal and external accident prevention…
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A lot has been said about the One-Belt One-Road initiative (OBOR), or as the Chinese call it the Belt and Road Initiative (BRI). It attracts unwanted attention, as no superpower in human history has been able to undertake a project so enormous, that it covers most continents and two-thirds of the world, is inclusive of all major areas of modern…
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ISLAMABAD: Minister for Privatization Mohammedmian Soomro on Wednesday expressed serious concerns over the delay in resolving issues related to Pakistan Steel Mills (PSM) privatisation. In a weekly meeting, Soomro said the issues should be taken up with ministry of industries. Revival of PSMC would be a great boost for the economy, he said. It was decided that the decision regarding…
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ISLAMABAD: The government has called a series of back-to-back meetings to facilitate allocation of pipeline capacity and tie-in points to new upcoming liquefied natural gas (LNG) terminals. The issue would be first taken up at the meeting of the Cabinet Committee on Energy (CCoE) on Thursday. To be presided over by Minister for Planning and Development Asad Umar, the CCoE…
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KARACHI: A big chunk of 523 million shares in Byco Petroleum Pakistan Ltd was sold on Wednesday by IGCF Oil and Gas Ltd previously called Abraaj Mauritius. Yawar uz zaman, head of research at Pearl Securities, said that the deal — which was in the making for quite some time — was sealed at a price of Rs9.46 per share.…
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