Oil consumption plunged 22 percent to 1.52 million tonnes in the month of September this fiscal compared to 1.96 million tonnes in the same month of the last year owing to ebbing demand and rising fuels prices, data showed on Tuesday. The year-on-year drop in oil sales is primarily due to a rise in the fuel prices, lower vehicle sales,…
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Despite the rise in U.S. energy bills, the White House will not limit in any way, let alone ban, exports of natural gas this winter, as it aims to help Europe with the energy crisis, two sources involved in the discussions told Reuters on Tuesday. The U.S. has been sending increased volumes of liquefied natural gas (LNG) to Europe since…
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The risk of the global economy slowing down further and slipping into negative growth territory has been on a strong increase in the past few months. So much so that oil prices lost about a quarter of their value in the third quarter after rising strongly over the first two quarters of the year. It appears that this was only…
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Sharing details of the decision, the NEPRA said that the fine on NTDC was imposed over its failure to provide adequate electric supply during September 2021 breakdown. “The NTDC took 2.33 hours to fully restore electricity from Jamshoro Grid Station.” The NEPRA added that it issued a showcause notice to the body to probe the failure, but NTDC failed to…
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The administration of District South in Karachi has joined hands with the National Forum for Environment and Health (NFEH) to jointly work to increase the tree cover in the downtown city area.The decision to this effect was reached as a delegation of NFEH held a meeting with District South Administrator, Dr. Afshan Rubab.The meeting decided that the two entities would…
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The National Electric Power Regulatory Authority (Nepra) has imposed a fine of Rs10 million onthe National Transmission and Despatch Company (NTDC) on account of a partial blackout during September 2021. The blackout occurred on September 1, 2021 at 1609 hours when several parts of Karachi plunged into darkness after the entire K-Electric system tripped following a lightning strike on the…
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Federal Minister for Industries and Production Makhdoom Syed Murtaza Mahmood has said that the government is offering certain tax incentives and allowing duty-free import of inputs, plant and machinery to promote solar energy. He was speaking at a workshop on “Solar panel and allied equipment manufacturing policy”, organised by the Engineering Development Board (EDB). The minister noted that Pakistan had…
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Stakeholders from the private sector have expressed concerns over the government’s new policy on solar panels and said it was bound to fail. Speaking at the closing session of the workshop on the policy, entrepreneurs and industrialists said the government’s policies were promoting the import of solar panels as opposed to local manufacturing.The workshop was organised by the Engineering Development…
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Pakistan’s Liquefied Natural Gas (LNG) shortages appear prolonging for years as it failed to attract any bidder for a long-term contract because of tight international market conditions. The state-run Pakistan LNG Limited (PLL) on Monday announced the results of two tenders for a total of 72 LNG cargos after a month-long extension in deadline and said it did not receive…
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