The National Transmission and Despatch Company (NTDC) that runs the country’s national grid has sought approval for a Rs370 billion investment plan for system expansion and loss reduction over the next three years (2023-25). In a petition to the National Electric Power Regulatory Authority (Nepra), the transmission system operator stated that the proposed investment was required to meet the needs…
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Eyeing multifield growth in demand for renewable energy in Pakistan, a family-owned power firm says it has successfully raised advanced level ‘Series-A’ investment to kickstart local production of solar panels from the second half (July-December) of 2023. The firm is setting up the plant through the transfer of technology from Turkiye at an initial investment of $3.5 million in phase…
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Economic weakness caused by global reserve banks’ tightening and high winter heating bills will bring oil to $50 per barrel. But it won’t stay there for long. With the price of crude oil currently hovering around $75 to $80 per barrel, many pundits believe $100 oil is right around the corner. History, however, doesn’t support such a view. After large…
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Demand for offshore rigs for overseas drilling has soared this year even as U.S. oil-rig growth has plateaued. According to Baker Hughes, there are now 622 oil rigs operating in the U.S., down from the 683 in operation in March of 2020 at the onset of the pandemic and unchanged from six weeks ago. This has caused day rates to skyrocket and…
Read MoreChina’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…
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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…
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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…
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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.…
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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…
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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…
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