The government had to relax contractual conditions and shift about Rs50 billion worth of budgetary allocations for electricity subsidies to an escrow account for automatic partial payments to Chinese Independent Power Producers (IPPs) to pacify M/s Sinosure, a Chinese insurance company, into facilitating future projects in Pakistan. This was one of the key outstanding issues hampering the signing of new…
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Russia started swapping oil products with Iran, Interfax reported, the latest sign of deepening ties between the two sanctioned countries pushed closer by Russia’s war in Ukraine. The range of swapped products will be expanded, Interfax cited Deputy Prime Minister Alexander Novak as saying, without giving further details, after a meeting with Iranian Oil Minister Javad Owji in Grozny. The…
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US Special Presidential Envoy for Climate, John Kerry, on Wednesday, October 26, in a telephonic press briefing, laid out the government’s top priorities for the upcoming COP27 meeting of the United Nations Framework Convention on Climate Change in Sharm El-Sheikh, Egypt, as well as the Biden administration’s international climate efforts. The former US Secretary of State was seeking middle ground…
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Khyber Pakhtunkhwa Chief MinisterMahmood Khan on Tuesday said his government had taken ‘pragmatic’ steps for the production of cheaper and environment-friendly electricity in the province. Chairing a meeting that reviewed progress on the energy and power department’s projects here, the chief minister said the Pakistan Tehreek-i-Insaf-led provincial government was contributing significantly to power production in the country. “Ours is the…
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According to the power sector analysts, power sector consumes around 9 million tonnes of coal per annum against total consumption requirement of around 28 million tonnes. Moreover, Pakistan’s reliance on coal electricity generation varies from 12 percent to maximum 32 percent, depending on availability of cheap hydropower, as the cost of coal-based power generation was higher (third most expensive fuel…
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A preliminary inquiry report on the complaints of irregularities and illegal recruitment in KP Oil and Gas Company Limited (KP-OGCL), a subsidiary of the Energy and Power, department has been handed over to the HR Committee for further action. During inquiry all those employees coming under allegations have been heard to ensure transparency. After review the final report would be submitted to the Board of Directors (BoD) of…
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Pakistan has experienced its worst floods in years in 2022, and the country’s renewed calls for financial support on climate adaptation and loss and damage from the world’s biggest emitters will likely be a point of focus at the UN climate conference Cop 27 starting this week in Egypt. An estimated 33mn people have been affected by the floods, with…
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The Oil and Gas Development Company Limited (OGDCL), in collaboration with Al-Shifa Eye Trust Hospital Sukkur, held its second three days free eye surgical camp at the Rural Health Centre Ranipur to ensure availability of health services to the poor and marginalized communities of Sukkur. Organized under the OGDCL’s CSR Programme, the free eye surgical camp reflected the company’s welfare…
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The Oil and Gas Regulatory Authority (OGRA) has increased the LPG prices by Rs2 per kg, adding more woes for the already over-burdened common man. According to the notification issued, the prices for November 2022 will increase by Rs2,529 per metric ton, domestic cylinder rates by Rs35 and commercial cylinder by Rs134. The new rates of LPG with increased prices…
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