The ongoing gas crisis has crippled daily lives in Karachi to the point where residents have been forced to change their routines in accordance with the gas load shedding schedule. Due to the lack of gas the populace of the booming metropolis is being compelled to take showers whenever possible, have meals at odd times, and change their sleeping schedule.…
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After posting record profits in 2022, oil and gas companies say they’re preparing to ramp up investments in clean energy and new technology this year. Exxon Mobil Corp. has said it will spend about $3.4 billion annually on alternative energy over the next five years, about 15 percent more than its plans last year. Chevron Corp. — the nation’s second-largest…
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mid a power shortage crisis already engulfing the country, 15 production units of the Tarbela power plant have been shut down – its administration attributing the problem to a reduction in water release from the dam because of the canal cleaning campaign. Only two units of the power station are generating 340 MW of electricity. The problem at Tarbela has…
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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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