Saudi Arabia could cut the official selling price for oil to Asian buyers in February after raising them substantially this month. According to a Reuters report citing industry insiders and poll data, the Kingdom could slash the prices for all its export grades by as much as $1 per barrel and more, which would push these prices to their lowest…
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Europe’s energy crunch is far from over, but a flotilla of liquefied natural gas (LNG) tankers from the U.S. are set to resupply the fuel-starved continent. European gas prices fell for the sixth day, the longest decline in more than a year. Even though natural gas prices are retreating from record highs, household power bills, especially in Great Britain, are…
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The government has disbursed a sum of Rs23,911.77 million for various power division schemes under the annual Public Sector Development Programme (PSDP) for year 2021-22 so far. According to the data, the government has specified Rs69,485.05 million under PSDP-2021-22 for various power projects with Rs40,174 million foreign aid components. An amount of Rs10,520.74 million has been spent on various projects…
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Ambassador of Saudi Arabia to Pakistan Nawaf bin Saeed Al-Maliki called on Federal Minister for Energy Muhammad Azhar on Tuesday. During the meeting, the minister also highlighted expeditious steps taken by incumbent government in energy infrastructure development across the country, said a press release issued. The minister apprised the ambassador of government’s initiatives in energy sector focusing on induction of…
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Sui Northern Gas organized an e-Kachehri at its Head Office. Managing Director SNGPL Ali J. Hamdani listened to complaints of customers and directed relevant officials for immediate resolution of complaints. Senior Management of the Company along with Regional Managers attended E-Kachehri through video conference. Consumers belonging to different areas of Punjab and Khyber Pakhtunkhwa lodged complaints related to gas connection,…
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Norway ambassador to Pakistan has lodged a complaint with the Ministry of Foreign Affairs regarding purported discrimination against a Norwegian company which intends to set up a solar power plant. The Ambassador has forwarded a letter of Norwegian Scatec ASA Country Manager Ijaz Anwar to the Prime Minister, highlighting difficulties being faced by the company in the operationalization of MoU…
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The federal government has altered gas management plan to increase gas supply to power sector by 71 per cent to 325 MMCFD from 190 MMCFD, suspension of gas supply to general industry in Punjab and KP per day on rotational basis and restoration of 75 MMCFD gas to Captive Power Plants (CPPs) for the Punjab-based export-oriented industry from December 29,…
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The government is set to split large power distribution companies (DISCOs) to ensure efficiency in their operations, which will help slash financial losses and power theft. Members of the cabinet raised the issue in a meeting held last week while considering the appointment of the head of Multan Electric Power Company (Mepco). During discussion, they underlined the need for splitting…
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Big global technology companies venturing into the arena of renewable energy is indeed good news for domestic electricity consumers in Pakistan who should switch to solar power at the earliest for slashing their power bills. Sindh government’s Energy Secretary, Abu Bakar Ahmed Madani, expressed these remarks while speaking at the Huawei FusionSolar Residential Summit Pakistan here at a hotel. The…
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Shippers of containerized goods were caught off guard this year. Never before had container spot rates risen so far, so fast. But shippers of liquid and dry bulk commodities know such cost swings all too well. When bulk commodity transport demand exceeds supply, shipping spot rates can keep rising until cargo shippers’ profit margins are erased. The spectacular rise and…
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