WORLD Environment Day today has kick-started a decade of ecosystem restoration. As a global host for World Environment Day, 2021, it is an important opportunity for Pakistan to revisit environmental priorities that it has followed for the last 50 years and reset the direction for the decade ahead. The 1972 Stockholm Declaration inspired Zulfiqar Ali Bhutto to begin Pakistan’s environmental…
Read More
The National Electric Power Regulatory Authority (Nepra) intends to enhance the renewable energy footprint to 30 per cent over the next 10 years from the current 3pc of Pakistan’s overall generation capacity of over 35,000MW, Nepra Chairman Tauseef H. Farooqi said on Friday. Addressing a live webinar on “Pakistan’s Energy Transition and the Road Ahead” hosted by K-Electric and Nepra,…
Read More
ISLAMABAD: The government on Friday completed Rs89.2 billion transactions as the first instalment of payments to 20 independent power producers (IPPSs) from the Rs403bn committed under a settlement agreement with 46 IPPs signed in February. Payment to other IPPs suffered delay as the National Accountability Bureau (NAB) had decided to examine the deal. “The government has completed the first payment…
Read More
The National Electric Power Regulatory Authority (Nepra) on Friday allowed K-Electric to charge an additional fuel cost adjustment (FCA) of average 26 paisa and 10 paisa per unit in June and July, respectively from its consumers to add about Rs500 million to its revenue. The regulator has worked out the increase in rates on the basis of seven months (June…
Read More
The State Bank of Pakistan (SBP) has recommended to the government to eliminate gas subsidies to ward off formation of circular debt and encourage greater participation of the private sector in LNG trade to develop an efficient LNG market to cope with the growing gas shortages in the country. In a special section on LNG sector inserted in its quarterly…
Read More
Turkey has discovered further deposits of natural gas in the Black Sea, according to people familiar with the matter, and is likely to make an announcement soon. Initial data from the offshore Amasra-1 well show a significant amount of newly discovered gas, the people said, asking not to be identified while discussing confidential information. Turkish explorers last year found 405…
Read More
The Oil & Gas Regulatory Authority (Ogra) has awarded a ‘gas-marketing licence’ to Shell Energy Pakistan (Pvt) Limited. Shell Energy Pakistan (Pvt) Limited has been incorporated with the aim of carrying out downstream gas marketing activities in Pakistan. It aims to aggregate demand from customers and secure competitive international supply to meet such demand. After evaluating its credentials, Ogra has…
Read More
Pakistan has initiated work on a number of green financing instruments, buoyed by widespread global investor interest in the country’s first green bond floated in the international market last week. The development follows the growing concern in Pakistan that it’s one of the most vulnerable countries in the world to climate change, and has been hit hard by extreme weather…
Read More
I know, you probably haven’t even driven one yet, let alone seriously contemplated buying one, so the prediction may sound a bit bold, but bear with me. We are in the middle of the biggest revolution in motoring since Henry Ford’s first production line started turning back in 1913. And it is likely to happen much more quickly than you…
Read More
Renewable energy sources supplied just over half of Spain’s electricity demand for the month of May, new data has shown, boosted by a strong contribution from the nation’s wind farms. Estimates released this week by Spanish grid operator Red Electrica de Espana (REE) revealed that a mix of renewables including concentrating solar thermal and hydro generation produced 50.7% of Spain’s…
Read More
