Nearly a dozen Senate Democrats called on President Joe Biden on Monday to fight high gas prices by considering a release of barrels from the nation’s emergency oil stockpile, or even taking the more extreme step of banning oil exports. In the letter, Senators Elizabeth Warren, Sherrod Brown, Jack Reed and others warned that the seven-year high in gas prices…
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China ramped up its daily coal production to a new high of 11.93 million tonnes as part of the ongoing efforts to resolve the energy crisis in the country, the National Development and Reform Commission (NDRC) of China said on Monday. “Since October this year, coal mining has continued to grow. From November 1-5, the average daily coal production reached…
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Intended deals at the 4th China International Import Expo (CIIE) on energy products will increase by 22 percent from last year’s event, while intended deals for liquefied natural gas (LNG) will double, according to a senior Chinese official. Ren Hongbin, vice chairman of the State-Owned Assets Supervision and Administration Commission (SASAC), called on state-owned enterprises (SOEs) to take the initiative…
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Electricity tariffs for the domestic consumers are going dearer by more than what was earlier suggested. The increase approved by Nepra, awaiting government notification is Rs1.68 per unit in the newly announced unprotected consumer category. Recall that lifeline consumer definition has now been expanded from 50 units to 100 units. And the protected category now also included consumers using up…
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There continues to be a hiatus in the finalization of the sixth review of the IMF Extended Fund Facility to Pakistan. The Pakistan economic team, led by the Finance Minister arrived in Washington on the 4th of October and negotiations for completion of the review and the setting of targets and reform agenda for subsequent reviews continued till the 23rd…
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A Joint Secretary (JS) from the Power Division and a General Manager (GM) from the National Transmission & Despatch Company (NTDC) are vying for additional charge of the office of Managing Director (MD) lying vacant after sudden resignation of the incumbent one within three months of his appointment, said sources. The sources added that the Board of Directors (BoD) of…
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The Privatisation Division has held a meeting with JP Morgan officials in the backdrop of the privatisation of two RLNG power plants of Haveli Bahadar Shah and Balloki. The JP Morgan is one the world’s largest investment banks and advising the consortium of Qatar Investment Authority (QIA), which showed keen interest for the privatisation of the NPPMCL. The senior representatives…
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PAKISTAN’S cash-strapped government has been forced to buy the priciest LNG shipment from a Qatari trader for delivery later this month to avoid blackouts. Pakistan must pay a huge amount for its energy needs following default by two suppliers on their long-term commitments to supply one LNG cargo each per month at the fixed rate of 11.95pc and 11.63pc of…
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With supply shortages and unsustainable average cost of gas, the government is going to withdraw subsidised gas rates of $6.5 per unit for the industrial sector as first part of a three-phased tariff rationalisation plan. A senior government official told Dawn that Ministry of Energy (Petroleum Division) had already moved a summary to the federal cabinet for ending subsidised gas…
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Business community have rejected yet another record increase in prices of petroleum products and urged the government to revise its decision forthwith. Traders while talking to this scribe on Sunday said that a relief package was announced by Prime’s Minister during address to nation, but at the same time, the government has continuously increased prices of petroleum commodities, which was…
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