U.S. natural gas prices have hit a fresh six-week low, closing at $7.75/MMBtu on Monday with the Wall Street Journal saying that the market has lost momentum due to U.S. production topping 100 Bcf/day for the first time ever. The odds are now that ample U.S. production will be enough to meet local demand in the final months before winter arrives.…
Read More
Amidst a continuous denial from the Ministry of Energy over making any change to the net metering rates, National Electric Power Regulatory Authority has announced to hold hearing on downward revision of the tariff by almost 53pc. The National Electric Power Regulatory Authority has decided to hold a public hearing on the (Alternative & Renewable Energy) Distributed Generation and Net…
Read More
World Bank’s Regional Vice president for South Asia, Mr Martin Raiser alongwith a delegation called on Federal Minister for Power Engr Khurram Dastgir Khan today. Minister apprised the Vice president about the unprecedented destruction caused by floods in Pakistan. He briefed on the devastation and accompanying economic misery of the people. He further highlighted how the untiring efforts of the…
Read More
Abdul Rasheed, President Site Association of Industry has expressed serious concerns over 8 hours’ load shedding from 12:00 a.m. at night to 8:00 a.m. in the morning in SITE area on daily basis. He said that load shedding is bound to have adverse impact on the economy, particularly on export industries. As such, the government should ensure uninterrupted supply of…
Read More
Rapid population growth and a minimally progressing economy have been widening the gap between demand and production of electricity day-by-day in Pakistan. Pakistan is ranked 34th in electricity consumption in the CIA World Factbook. While demand for energy has been increasing steadily, energy production is not growing at the same pace. As a result, Pakistan has been experiencing a persistent…
Read More
Today, the 24th World Petroleum Congress (24th WPC) OrganisingCommittee for Canada (OCAN), is recognizing the “One-Year-To-Go” milestone, as momentum grows tothe 24th WPC in Calgary, Canada. The Congress, taking place from 17-21 September 2023, will bringtogether industry and government leaders, academia, NGOs and thought leaders from the financial,technological, innovation and stakeholder engagement sectors to engage in a robust discussion of…
Read More
LONGi has announced a new world record conversion efficiency of 26.12% for its p-type silicon heterojunction (HJT) cells. The record, validated in testing carried out by the Institute for Solar Energy Research (ISFH) in Hamelin, Germany, was achieved on full-size (M6, 274.3cm2) gallium-doped p-type monocrystalline wafers and is the highest record for p-type cell efficiency to date, further confirming the…
Read More
The Oil & Gas Development Company’s (OGDCL) audit department has claimed to have unearthed a questionable award of an $85 million contract for Uch Front End Compression Facility Project at Uch gas field, allegedly perpetrated by a cabal of corrupt top officials of the company, The News has learnt. According to sources, the OGDCL audit team has also recommended scrapping…
Read More
The K-Electric (KE) has sought about Rs4.21 per unit reduction in monthly fuel cost adjustment (FCA) to refund about Rs7.22 billion overcharged to consumers in August. The National Electric Power Regulatory Authority (Nepra) has called a public hearing on Sept 29 to examine the KE’s petition. The regulator would also judge whether the company had followed the economic merit order…
Read More
After a delay of six days, the government finally notified the revised prices of petroleum products in the early hours of Wednesday, raising the petrol price by Rs1.45. As per the standard procedure, the notification for revised prices is issued around midnight. However, this time, the notification by the Finance Division came two hours late, around 2am. According to the…
Read More
