People need warm water especially for their morning baths, but the country has long depended on gas geysers, which have been rendered almost useless amid a worsening gas shortage. Since a total shift to electric geysers may prove too expensive, many consumers have shown keen interest in hybrid gas-electric geysers as well as small instant geysers. The hybrid geysers have…
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European and UK gas prices rocketed on Tuesday to all-time highs on strong winter demand and simmering geopolitical tensions between key supplier Russia and consumer nations. Europe’s reference Dutch TTF gas price jumped nearly 20 percent from Monday to hit 175.00 euros per megawatt hour in early afternoon trading. Meanwhile, UK prices leapt to 4.35 pounds per therm. Both markets…
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The distribution companies (Discos) have witnessed an increase in demand of 800 megawatt by the industrial consumers with suspension of gas supply by the government, said reliable sources. They said this rise in demand has occurred at the outset of the current week against the previous one, when the ministry of petroleum had suspended gas supply to the industrial units.…
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Pakistan Petroleum Limited (PPL) has sought government nod to produce additional 125 mmcfd gas from Kandhkot gas field to sell to any other buyer, revealing that Genco-IIs 747 MW unit is going to be sold to third party. In a letter to MD/CEO, Genco Holding Company Limited (GHCL), a senior official of PPL Abid Ashfaque Malick has also proposed constitution…
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The government should treat wind and solar power as the main sources of power generation as hydrocarbons are actually the alternative means of power production in the country, says a Press release.This was stated by Prof Dr Nasim Akhtar Khan, former vice-chancellor of Hamdard University, while speaking at a seminar as its keynote speaker on solar energy here at a…
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Under one 20-year deal, CNOOC Gas & Power Group will take 2 million mt/year of LNG on a free-on-board basis from Venture Global’s proposed Plaquemines LNG facility that is planned to be built south of New Orleans. Under a second deal, which will last for a shorter duration that the companies did not disclose, state-owned CNOOC, or China National Offshore…
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The Multan Chamber of Commerce and Industry has expressed serious concerns over discontinuation of gas supply to the industrial sector particularly to textile sector and demanded the government exempt the textile industry from gas loadshedding. The MCCI has urged the Prime Minister Imran Khan to intervene immediately to ensure supply of electricity and gas to textile mills and warned that…
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The International Monetary Fund (IMF) as well as other multilaterals has come under considerable criticism in recent months with respect to their harsh upfront monetary and fiscal policy conditions that have eroded Pakistan’s growth rate, raised unemployment levels, fuelled inflation through administered pricing of utilities and has contributed to a sustained erosion of the rupee against the dollar. Two observations…
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The Islamic Development Bank (IDB) has approved $252 million loans to Pakistan for two projects — the construction of Mohmand Dam in Khyber Pakhtunkhwa and for anti-Covid vaccine support in the country. The approval from the bank’s board of directors was conveyed by IDB President Dr Muhammad Sulaiman Al-Jasser to Minister for Economic Affairs Omar Ayub Khan at a meeting…
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The cost of generating electricity has increased close to 85% in just one year, going up to Rs6.32 kWh in November 2021 compared to Rs3.42 kWh during the same month last year. The increase in cost has come mainly due to a rise in cost of furnace oil, coal and Regasified Liquefied Natural Gas (RLNG), according to a note by…
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