Italy’s Prime Minister Mario Draghi has suggested after a meeting with U.S. President Joe Biden this week that oil consumers unite to form a cartel with the goal of capping oil prices. Draghi visited the White House on Tuesday to discuss, among other things, the state of the energy market. According to Draghi, both he and President Biden have agreed…
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Tesco chairman John Allan has joined calls for energy giants to be slapped with a windfall tax to ease the pressure on households suffering the most from the cost-of-living crisis. Speaking on BBC Radio 4’s Today program he argued there was an “overwhelming case” for a one-off levy on North Sea oil and gas companies, revealing some of the supermarket’s…
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As much as 17.5 gigawatts (GWac) of planned US solar capacity installations in 2022 are in doubt after the Department of Commerce (DOC) opened an investigation into panel imports from southeast Asia, Rystad Energy research shows. The US was expected to install 27 GWac of solar energy capacity in the utility, residential, and commercial and industrial (C&I) markets this year,…
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Many oil vessels are anchored at the sea awaiting berth, in some cases for days and weeks, at the oil jetty, FOTCO (Fauji Oil Terminal & Distribution Company Limited), which was dragging its feet on investing in expanding its capacity accordingly. “The government should address the congestion of vessels carrying petroleum products at Port Qasim, while the relevant ministry must…
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March’s Fuel Charges Adjustment (FCA) has been approved by the regulator at Rs2.87 per unit. This is a respite of sorts, being the lowest monthly adjustment in six months. But this could well be the only respite on offer in the near future, as Pakistan’s power sector continues to operate with all-so-usual problems of miscoordination, rising payment issues, unbudgeted subsidies,…
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Power Division has sought Federal Government’s nod to do away with PM’s relief package on electricity of Rs 5 per unit from May 1, 2022 and continue unscheduled load shedding for the next two or three months aimed at passing minimum impact of FCA to consumers and avoid drain of over Rs 300 billion on expensive fuels, well informed sources…
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Given rising temperatures due to the climate change phenomenon, the Sindh government has decided to issue environmental NOCs to new housing schemes and societies subject to the condition that they plant trees. An important meeting took place under Sindh Environment Minister Ismail Rahoo, attended by Sindh Environment Protection Agency (SEPA) Director General Naeem Mughal and other officers. Rahoo directed Mughal…
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With a heat wave gripping Karachi and other parts of Sindh, loadshedding hours have increased manifolds in the city, causing great difficulty for its residents. Almost all areas of the city are witnessing prolonged power outages this summer. The affected areas include North Karachi, Surjani Town, Shadman Town, Buffer Zone, Nazimabad, North Nazimabad, Gulshan-e-Iqbal, Gulistan-e-Jauhar, Lyari, Saddar, Malir, Landhi, Korangi,…
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The National Electric Power Regulatory Authority (Nepra) on Tuesday approved 57 paise per unit increase in base electricity tariff with effect from June 1 to provide Rs14.3bn additional revenue to distribution companies (Discos) of ex-Wapda in three months. The increase was allowed under quarterly tariff adjustment mechanism for first quarter (July-September 2021) of current fiscal year. Ten Discos had together…
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Russian gas headed to Europe through Ukraine will stop flowing on Wednesday, Ukraine’s Gas Transmission System Operator (GTSOU) said on Tuesday. The flows will stop at 7 a.m. local time after Russia’s occupying forces disrupted gas transit operations in the area. According to the operator, Ukraine will no longer be able to accept gas transit from Russia via Sokhranivka. The…
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