China’s crude oil imports from Russia rose 17% in November from a year earlier, as Chinese refiners rushed to secure more cargoes ahead of a price cap imposed by the Group of Seven nations on Dec. 5. The jump made Russia the top oil supplier for China ahead of Saudi Arabia. Arrivals of Russian crude, including oil pumped through the…
Read MoreDay: December 26, 2022
T4HP: Govt seeks another extension in closing date of World Bank loan
The government has requested the World Bank for extending the closing date of credit for Tarbela Fourth Hydropower project for fifth time, aimed at enabling Water and Power Development Authority (Wapda) to finance remaining payments on ongoing contracts, complete activities to support sustainable operation of project and address remedial measures for fixing issue identified at the intake of the power…
Read MoreEnergy projects to earn Rs10bn per annum for KP: secretary
The Secretary Energy & Power KP Nisar Ahmad Khan has said that the timely completion of ongoing energy projects in the province is the first priority, however, the ongoing economic issues in the country are proving to be a major obstacle in the completion of energy projects, for which an integrated strategy is indispensable. Department of Energy subsidiary Pakhtunkhwa Energy…
Read MorePMO Seeks Report on Proposed Changes in Net-Metering Regulations
The Prime Minister Office (PMO) has sought report from Power Division on the concerns of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on the proposed amendments in Net Metering regulations. FPCCI had written a letter to the Prime Minister Shehbaz Sharif, following a public hearing at Nepra on this issue and comments of Chairman Nepra, Tauseef H Farooqi.…
Read MorePakistan needs approximately $155 billion for energy sector till 2030: ADB
Energy investment ranges from $62 billion to $155 billion till 2030, a local newspaper reported on Sunday. According to ADB’s Central Asia Regional Economic Cooperation (CAREC) Energy Outlook for 2030 report, energy investment needs until 2030 vary significantly across the three scenarios, with estimates ranging from $62 billion to $155 billion. The power generation and the energy efficiency sector need…
Read MoreShort Sighted Policies
Pakistan has not run out of gas overnight. At the turn of the 21st century, sufficient gas supplies and sources were available in Pakistan. As per a study by Hagler Bailey, there were limitations on the gas transmission system to lift gas from all the sources, but there was no gas shortage for any segment of the consumers. The said…
Read MoreGtG mode: Pakistan restarts talks with Azerbaijan for import of petrol on credit
In a new development, Pakistan has restarted talks with Azerbaijan on the latter’s offer made in late 2016 for providing Mogas on credit besides the current negotiations for distressed LNG at an affordable rate, a senior official of the Energy Ministry told The News. Both countries earlier inked an Inter-governmental Agreement (IGA) in 2017 under which Azerbaijan’s state-owned SOCAR was…
Read MoreGrowatt and Trisun Energies sign 100MW MoU to Forge New Strategic Partnership
Growatt, a global leading distributed energy solution provider, signed a Memorandum of Understanding (MoU) with Trisun Energies, a Karachi-based renewable energy company, to deepen their cooperation in the Pakistan solar market earlier this month. According to the agreement, Growatt will supply Trisun Energies with up to 100MW of string inverters in 2023. And the MoU was signed in the context…
Read MoreThar coal to be linked with PQ thru rail system
The government has decided to link Thar coal and Port Qasim (PQ) with Pakistan Railways network through Rs 58.240 billion project in order to provide bulk transportation facilities as per requirement of the economy. Sources said that the PC-I of the project has been prepared and is expected to be approved soon. They added that the total project cost of…
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