Studies have been conducted in various countries around the world, notable of which was in Sri Lanka and Pakistan in the 1990s on the economic loss of unsupplied electricity. It was found that every kilowatt (kW) that was not supplied had an economic cost of at least $1/Kwh — Sh108 — and resulted in major dips in the gross domestic…
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Pakistan has awarded six onshore exploration blocks in Sindh, Balochistan and Punjab provinces with the acreage being snapped up by local state-owned companies. Read more: Pakistan seeks $5 billion investment to spark oil and gas activityPartners (OGDC) and Mari Petroleum were awarded blocks 3068-6 (Killa Saifullah) and 3067-7 (Sharan) in Balochistan; Block 3069-9 (Suleiman) in Balochistan was picked up by…
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The refining sector was facing problems even before the pandemic, recall my article two years ago, “Stringent condition: new regulation requires refineries to modernise”, where I highlighted a crisis-like situation for refineries in Pakistan post-IMO 2020 era. Lo and behold, the exogenous event of Covid-19 pandemic has now posed an existential threat to the already fragile and outdated refining sector in Pakistan.…
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The African Energy Chamber is disappointed about Total’s decision to declare force majeure on its Mozambique LNG Project. While the chamber stands in solidarity with Mozambique and Total and all energy investors, we believe the declaration of force majeure could have been prevented and comes prematurely. We encourage all parties involved to have a better and more open conversation to…
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During his campaign for the United States presidency, Joseph Biden promised to reverse his predecessor’s indifference towards the problem of global warming and palpable climate change. As the head of the American state for four years — from 2017 to 2021 — Donald Trump took a number of decisions that ignored climate science about global warming. He called the worry…
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SHARJAH, (UrduPoint / Pakistan Point News / WAM – 26th Apr, 2021) Dana Gas and its partner Crescent Petroleum have announced the full resumption of the expansion project at the Khor Mor field in the Kurdistan Region of Iraq (KRI), which the companies jointly operate on behalf of the Pearl Petroleum consortium. The KM250 expansion involves further investment of US$600…
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ISLAMABAD: The Planning Commission’s research think tank the Pakistan Institute of Development Economics (PIDE) has recommended to the government to undertake key fundamental changes in real estate and energy sectors, including doing away with the mechanism of fixing DC rates of properties. The PIDE recommended that the government should have buy-back provisions if the real estate plots were sold by…
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Oilprice.com, a renowned publication for oil-related topics has recently published an article talking about the recent success of Qatar in capturing a fast-growing LNG market, Pakistan. The author talks about the fact that even though the media has dampened the news of the Qatar Petroleum-Pakistan State Oil Company deal, but it is a big deal. According to the publication, the…
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Saudi Arabia could save some $200 billion over the next ten years by switching from crude oil to natural gas and renewables for electricity production, Reuters reports, citing the Kingdom’s Finance Minister. “Instead of buying fuel from the international markets at $60 and then selling it at $6 for Saudi utilities, or using some of our quota in OPEC to…
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Last week saw some much-needed good news for natural gas. The European Union signaled that it would include natural gas in its energy plans for the future, emissions and all. The not-so-good news is that speaking of emissions, the EU might oblige suppliers to minimize these as much as is possible. In the early days of the rush to cut…
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