Independent Power Producers (IPPs) will inform their six months’ requirement of coal to Thar Coal Energy Board,” NEPRA instructed. “In case of non-availability of required coal, they will be eligible to import it.” The coal will be purchased and sold in Pakistani rupee, power regulator said. “Minimum coal import order will not be lesser than 5,000 tons,” it added. The…
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Pakistan’s government is diligently making efforts to overcome the country’s prevailing power crisis. As part of this initiative, the federal government unveiled a new energy-saving initiative. The steps suggested by the government are commendable; however, one step which needs special mention is the intention to introduce e-bikes. If this initiative can achieve the desired results, it will save foreign exchange and…
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With its massive oil and natural gas reserves, Turkmenistan’s economy is heavily dependent on foreign exchange earnings from the export and sale of these resources. Given this, the country’s economic stability is tied to Ashgabat’s foreign policy and cooperation with its neighbors, including those territories located in the path of target markets (Iess.ir, February 8, 2021). Iran, in particular, has…
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WTI crude prices rose slightly today after the U.S. Energy Information Administration reported an oil inventory build of 1.7 million barrels for the week to December 30. This compared with a modest build of 700,000 barrels for the previous week, which in turn followed a weekly draw of 5.9 million barrels. The EIA said that at 420.6 million barrels, crude oil inventories were still…
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Last year was a rather surprising one for those used to seeing a short and visible link between oil prices and U.S. oil production. In 2022, this link broke. Despite higher oil prices, U.S. drillers did not go into full growth mode. And they ended the year in much the same way. According to the latest Dallas Fed energy survey,…
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Incorrect diagnosis is at times, worse than no diagnosis at all. More so, if the diagnosis also leads to prescriptions being used. The government ministers, in a star-studded presser, announced a national energy conservation policy, in light of the crisis Pakistan faces today. The plan, if implemented, is slated to save all of Rs62 billion over 12 months. Not sure…
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The total planned investment under China Pakistan Economic Corridor (CPEC) is $62 billion between FY2015 and FY2030, out of which $27.4 billion projects have been realized, with energy sector (power generation, coal mining and transmission lines) representing 76 percent. It covers power generation projects, both fossil fuel and renewable, of about 11 GW. To date, about 5,520 MW energy projects…
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All agreements for the extraction of Balochistan’s natural resources were signed by “weak and non-political governments”, National Party chief Dr Abdul Malik Baloch said on Wednesday. “Balochistan will not get a 25-35 percent share out of the Reko Diq project. Instead, its share won’t be more than 10 percent. “Like all previous arrangements, the Reko Diq agreement is unjust for…
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In order to enable PSO to remain current in its payment obligations to LNG suppliers as well as to maintain LNG supply chain, the Economic Coordination Committee (ECC) allowed release of Rs. 10 billion budgeted subsidy to Petroleum Division and allowed GoP guarantee against bank financing upto Rs. 50 billion In order to enable PSO to remain current in its…
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Pakistan is a country of 230 million people, a nuclear power, and rich in natural resources but we rank 138 in the world prosperity index and cannot provide quality health and education to our people. With the dwindling reserves, stalled IMF programme, limited bilateral /multilateral inflows and expensive commercial lending to Pakistan, the situation can’t be worst. There is also…
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