Owing to serious legal risks, the board of directors of the state-run Sui Southern Gas Company (SSGC) on Friday rejected Engro Elengy Terminal (EET) upgrade to a bigger floating storage and regasification unit (FSRU) and instead recalled original unit — Exquisite — back to work. The Exquisite FSRU operated by Excelerate Energy of USA had been on dry docking since…
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Encouraged by higher electricity consumption by industry and emerging gas shortages, the government is planning to offer a cheaper electricity tariff for domestic and commercial consumers in coming winters to shift space heating to power instead of gas. “Ministry of Energy is moving a proposal for seasonal emerging pricing for domestic & commercial consumers to encourage power consumption during off-peak…
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The China-Pakistan Economic Corridor (CPEC), a flagship project of the China-proposed Belt and Road Initiative (BRI), is one of the most important projects for the economic revival of Pakistan, said Khalid Mansoor, special assistant to the Pakistani Prime Minister on CPEC affairs. “CPEC’s phase two will be developing an industrial hub in the country, providing many opportunities for local and…
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Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over the ever-increasing and unsustainable losses to CNG stations in Sindh due to government policies, RLNG-linked CNG pricing regime, gas load shedding, and favouritism in supplying indigenous gas. FPCCI President Mian Nasser Hyatt Maggo, while addressing media on Thursday expressed serious concerns when CNG associations’ leadership informed him…
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BEIJING (AFP) – US climate envoy John Kerry is in Beijing this week to urge the world’s biggest polluter to reduce its reliance on coal. But China is building more coal-fired power plants than the rest of the world combined, a plan that is threatening to derail its decarbonisation plans and global efforts to tackle climate change.Here are five reasons…
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DAYS AFTER THE Taliban takeover of Afghanistan, the World Bank and the International Monetary Fund halted the flow of hundreds of million dollars into the country. The central bank had around $9 billion in reserves. But, most of it was held in the US and was frozen. In short, the Taliban was left without capital to run the country. But,…
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Four fifths of the Gulf of Mexico’s oil and gas production remains offline due to Hurricane Ida, one of the biggest storms to hit the US in the past 150 years. Almost 1.5 million barrels per day of oil and 1.9 billion cubic feet per day of natural gas output was shut in as of Wednesday,the US Bureau of Safety…
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The Cabinet Committee on Energy (CCOE) has directed Power Division to develop methodology and criteria for strategic projects in consultation with the provinces under the National Electricity Plan within two months, official sources told Business Recorder. The Committee which approved Indicative Generation Capacity Expansion Plan on August 26, 2021, has not given any decision on category-III RE projects and directed…
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The PTI government’s dream to utilise the excess capacity of 150mmcfd on Engro LNG terminal in winter season is in tatters as the Engro Elengy Terminal Limited (EEPTL) here on Thursday told the Petroleum Division in plain words if the government wants to utilize the excess capacity of 150mmcfd of the existing state-of-the-art FSRU Sequoia, then Sui Southern Gas Company…
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The Petroleum Division has settled over a decade-old controversy about deemed duty collected by refineries, saying that they have invested Rs200 billion in projects. The ministry said that they had collected Rs200 billion and invested the same amount in their projects. The deemed duty collection has been a controversial subject for the refineries. Critics have said that they received billions…
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