Group of Seven (G7) nations committed on Sunday to ban or phase out imports of Russian oil and the United States unveiled sanctions against Gazprombank executives and other businesses to punish Moscow for its war against Ukraine. The move represents the latest attempt by the West to put pressure on Russian President Vladimir Putin for his country’s invasion of Ukraine…
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The World Bank (WB) has invited Pakistani authorities for negotiation of $341.5 million loan to set up 300-MW floating solar project at Tarbela – Ghazi Barotha complex, official sources told Business Recorder. The Floating Solar Projects (FSPs) will supply zero emission electricity to meet peak daytime demand in summer and facilitate storage of water in the Complex to meet peak demand…
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China’s electricity sector has been undergoing a clean revolution over the past few years, primarily driven by exceptional growth in wind and solar power. However, rising wind and solar power create the need to reconfigure the electricity system to accommodate a changing generation mix while ensuring supply security. The main focus of the 14th Five-Year Energy Plan is to facilitate…
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Karot hydropower project’s unit one has started to run with a capacity of 180 megawatts (MW) on full load and is supplying energy to the national grid, The News learnt on Saturday. The energy produced from unit 1 would support the national grid in alleviating energy crises, CEO of Karot Power Company Limited Wang Minsheng said. He added that timely…
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Independent power producers (IPPs) are setting up five power projects that would have an accumulative capacity to generate up to 3963 megawatts (MW) by this year, official sources told on Saturday. The projects include Thar Coal, RLNG, and hydel based power generation projects. They are likely to start commercial operation during the current year, the sources said. They said Private…
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The government has decided to give charge of the Water and Power Development Authority chairman to Mr Naveed Asghar (Wapda’s member finance), as a summary has been moved to the office of the prime minister and the cabinet division in this regard. “After resignation of retired Lt-Gen Muzammil Hussain, the ministry of water resources has moved a summary to the…
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Despite surging oil and gas prices on the global market and the resultant rise in the import bill of two essential commodities in recent months, the two gas utilities are struggling to control their heavy losses against regulatory targets approved by the government. In the first two quarters of the current fiscal year (i.e. July-September and October-December), both gas utilities…
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Karachi’s power utility K-Electric has awarded an Engineering, Procurement and Construction (EPC) contract for the construction of 500/220 kV Grid at KANUPP – K-Electric Interconnection (KKI) to Siemens (Pakistan) Engineering Company Limited. In its notice to the Pakistan Stock Exchange (PSX) on Friday, the Karachi-based electric supply company informed that the estimated value of the EPC contract is around $84…
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The National Electric Power Regulatory Authority (Nepra) on Friday imposed a fine of Rs50 million on the National Transmission and Despatch Company (NTDC) for its “inability to restore power supply in a timely manner” in the wake of the “total power system collapse” that occurred in January 2021. According to the regulator, it took approximately 20 hours to restore the system.…
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Pakistan Petroleum Limited (PPL), the state-owned supplier of natural gas and petroleum products, has commissioned the recently installed Oil Handling Facilities (OHF) and commenced production from discovery well DS X-1 in Dhok Sultan Block, situated in the Province of Punjab. In a filing on the bourse on Friday, the company said it is an operator of the Dhok Sultan Block…
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