Pakistan is facing a threat of low levels of coal inventory that might take 3,900 MW out of the national grid, making the situation of power outages worse. The overall shortfall of electricity in the country has reached 5,000 MW.Power Division sources said the total power generation in the country was 21,500 MW while demand stood at over 26,500 MW.The…
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Apparently setting the stage for reversing fuel and electricity discounts amid negotiations with the International Monetary Fund (IMF), the coalition government’s energy ministers on Thursday said the tough decisions now would be better than even tougher choices six months later. “Reduction in the international prices (of oil, gas and coal) is not expected over the short to medium term period,…
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The Peshawar High Court (PHC) on Wednesday directed the Sui Northern Gas Pipeline Company (SNGPL) to ensure uninterrupted gas supply to textile mills. The order was issued by PHC’s two-judge bench comprising Justice Shakeel Ahmed and Justice Ijaz Anwar while hearing a writ petition submitted by the Khyber Pakhtunkhwa Textile Mills Association through Yasir Khattak, Farooq Afridi and Asadullah advocates.…
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For over six months now, Europe has been the key driver of global demand for liquefied natural gas (LNG) as it looks to replace as much Russian pipeline gas supply as soon as possible. Since the energy crisis of last autumn, Europe has displaced Asia as the growth driver of LNG demand and is no longer “the market of last…
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The Power Division (PD) is seriously considering reconstituting Board of Directors (BoDs) of all the power sector companies, said reliable sources. They said the PD has also held discussions on ways to avoid condition of no removal of a BoD before the expiry of three years set by the Securities and Exchange Commission of Pakistan (SECP). They said the PD…
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Sustainable economic growth requires identifying gaps, devising effective policies and working towards consistent improvement despite daunting challenges. The textile industry has invested $5 billion in new plants, machinery & equipment, and more capacity is being added, the results of which can be seen in increased production and exports, but all of this is at stake. By ensuring that exports are…
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Oil and Gas Regulatory Authority (Ogra) Chairman, Masroor Khan, has reiterated his commitments to implement the Ogra Ordinance in its letter and spirit to attract private investment, provide a level playing field to the industry by promoting competition and protecting consumer interest. He was invited to deliver a keynote speech on behalf of the government of Pakistan and the Ogra…
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The Peshawar High Court on Wednesday issued a stay order against ‘frequent’ suspension of gas supply on different grounds to textile mills in the province and directed the Sui Northern Gas Pipelines (SNGPL) to provide uninterrupted gas to the mills till further order. A bench consisting of Justice Ijaz Anwar and Justice Shakeel Ahmad issued the order over two identical…
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Russia’s state-owned oil producers Rosneft and Gazprom Neft have started to use tankers of local state tanker operator Sovcomflot to ship their crude to Asia, Bloomberg reported on Wednesday, quoting tanker-tracking data and sources familiar with the operations. Tankers owned by Sovcomflot struggled to find destinations shortly after the Russian invasion of Ukraine as countries either banned imports of Russian…
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Oil and gas sector employment is on the road to recovery in the United States after the significant job shedding that took place during the pandemic era. But a full recovery won’t be seen for another five years, a new analysis from Rystad Energy showed on Wednesday. The U.S. oil and gas industry lost 200,000 jobs during the pandemic, according…
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