Oil may resume its rally in 2023 as Chinese demand recovers after Covid curbs were scrapped and lack of investment limits growth in supply, Opec country officials told Reuters, with a growing number seeing a possible return to $100 a barrel. In 2022, oil soared above $100 for the first time since 2014 as demand recovered from Covid-19 lockdowns in…
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Power Distribution Companies (Discos) have sought an increase of up to Paisa 70 per unit in their tariffs to recover Rs 17.198 billion from their consumers for the second quarter (Oct-December) of fiscal year 2022-23 under Quarterly Tariff Adjustment (QTA) mechanism. National Electric Power Regulatory Authority (Nepra) is scheduled to hold a public hearing on the QTA adjustments of Discos…
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As for now, the government on Saturday approved Rs8 per unit increase in the price of electricity for both domestic and commercial consumers, local media reported. Electricity’s basic as well as quarterly tariff will be raised while arrangements are also being made to withdraw the subsidy. It has been learnt that the government is even ready to withdraw the subsidy…
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National Transmission & Dispatch Company (NTDC) has successfully augmented the existing 160 MVA, 220/132 kV autotransformer (T1) with a 250 MVA unit at 220 kV Industrial-II Quetta grid station. The said autotransformer was energised on Saturday. This project, part of the World Bank funded NTMP-I programme, has been completed under the System Constraints Removal Programme, which will see an enhancement…
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With news reports of attacks on U.S. power grids rising to an all-time high last year, cyber security and energy infrastructure robustness are being called into question. As well as strengthening energy infrastructure in line with green transition developments and the increased connectivity of renewable energy operations, the U.S. must consider improving its cybersecurity to ensure it is resilient to…
Read MoreThe big oil companies – from the UK-based BP and Shell to international giants such as ExxonMobil and Norway’s Equinor – have been announcing astonishing profit figures. They are all benefitting from the surging price of oil and gas following the invasion of Ukraine. While they rake in the profits, people around the world are struggling to pay their energy…
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At long last, Britain’s annual inflation rate is on the way down. After hitting the highest level since the 1980s, heaping pressure on millions of households as living costs soared, official figures this week could bring some rare good news. City economists expect UK inflation to have cooled for a third month running in January – the exact number is…
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February 2023
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ISLAMABAD: Engineer Dr Rana Abdul Jabbar Khan on Thursday assumed the charge of Managing Director of National Transmission and Despatch Company (NTDC). The federal government has appointed Engr. Dr. Rana Abdul Jabbar Khan as Managing Director of NTDC. In this regard, the Federal Cabinet approved the summary submitted by the Ministry of Energy (Power Division), said a press release. A formal notification for the appointment of Engr.…
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The Oil and Gas Regulatory Authority (OGRA) asked the Chief Secretary (Punjab) to take action against warehouses illegally storing petroleum products in the province, it has been reported. In a letter, OGRA said it has identified illegal storage of petrol and diesel which might be used to dump or store POL products for inventory gains. “It is requested that immediate…
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