Be it the retail fuels or the fuel for power generation; the petroleum crisis has been brewing. The populist moves are always at the core of such problems. One of them is the subsidy provided on petroleum prices by the (previous) government that had frozen petroleum prices. It happened when international crude oil prices went through the roof amid the…
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razil’s state-run oil company Petrobras is once again in crisis: caught in a political tug of war over rising fuel costs. Far-right President Jair Bolsonaro, seeking re-election in October, is widely blamed by voters for double-digit inflation, polls show, on the back of skyrocketing fuel prices. Feeling the heat, Bolsonaro last week fired Petrobras CEO Joaquim Silva e Luna, saying…
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Recently, C&D Clean Energy has announced a partnership with Integra Solar for panel supply chain services. According to a signed memorandum of understanding, C&D Clean Energy will provide Integra Pakistan with integrated supply chain services of 100MW solar modules in 2022. “Integra’s value concept is to write the earth’s green future by choosing high-quality products, and we are in line…
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Construction sector is estimated to expand by a staggering 92 percent in seven years from Rs1,409 billion in FY2021 to Rs2,706 billion by FY2029, at an annual rate of 11.8 percent, mainly on the strength of infrastructure and housing projects, a report said on Saturday. According to a study released by Pakistan Credit Rating Agency (PACRA), the sector’s contribution to…
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K-Electric (KE) is reportedly reluctant to accept RLNG price being supplied to it by Pakistan LNG Limited (PLL), well informed sources told Business Recorder. On March 9, 2022, KE wrote a letter to the Federal Government on this issue and conveyed its viewpoint on the pricing mechanism of RLNG. On the basis of KE letter Oil and Gas Regulatory Authority (OGRA)…
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The Board of National Energy Efficiency and Conservation Authority (NEECA) is to approve the National Energy Efficiency and Conservation (NEEC) Policy 2022, on April 12, 2022 for onward submission to the Cabinet Committee on Energy (CCoE). Official sources told Business Recorder, first draft of the NEEC Policy 2022 was presented to the secretary, Power Division/chairman of the NEECA Board on…
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The Global Climate Risk Index has placed Pakistan on the fifth spot on the list of countries most vulnerable to climate change in its annual report for 2020, which was released by the think-tank Germanwatch on Wednesday. According to the report, Pakistan lost 9,989 lives, suffered economic losses worth $3.8 billion and witnessed 152 extreme weather events from 1999 to…
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Despite an early onset of summer in mid-March and April getting hotter than usual, the snow melting process in mountainous and hilly areas has not picked up pace, putting profound pressure on the national water supplies and making the planners quite nervous. For the last 10 days, national water supplies have dipped substantially below not only last year’s levels, but…
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It has been exactly six weeks since Russia invaded Ukraine, with no end in sight to one of humanity’s biggest existential crises in modern times. In response to Russia’s unprovoked and unjustified war, the United States and the West have hit the rogue nation with a plethora of sanctions, with the latest announced just days ago mostly targeting Russia’s financial…
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Iraq can ensure crude oil exports of more than 3.3 million barrels per day from its southern terminals, as the country looks to leverage higher energy prices to support its economy, Iraq’s oil minister said on Friday. The second-largest producer of oil in Opec, Iraq is making an effort to maximise its oil exports and revenue, and the government is…
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