Power demand fails to pick up in December 2022, showing the dismal state of energy sector as well as the national economy, official data available with The News suggested. According to the generation data, electricity supply recorded on December 13, 2022 hovered around 10,800MW, against demand of well over 13,500MW. It was shocking to note that the dismal level of…
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Oil and Gas Regulatory Authority (Ogra) has reportedly refused to include cost of RLNG diversion in the annual determination of Estimated Revenue Requirement (ERR), as well as, in the Review of Estimated Revenue Requirement (RERR) of the gas companies, saying that any such act will have significant impact on the prescribed prices besides legal obligations, sources close to Secretary Petroleum…
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Attock Refinery Limited (ARL) on Tuesday announced a temporarily shut down of its main unit due to low demand of furnace oil in the country. “ARL is temporarily shutting down its main distillation unit for approximately eight days,” ARL announced in a communication sent to the Pakistan Stock Exchange (PSX). Local refineries have been grappling with high furnace oil stocks…
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Regarding additional 100-MW electricity from Iran, Power Division has informed that the Jiwani to Gwadar transmission line of 60-KM would be completed during the current month and it will be provided 60-70 MW on one circuit. Evacuation, foundation concreting and backfilling work is in progress whereas 25-KM string work has been completed. NTDC component will be completed this month whereas…
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Earlier in the year, supertanker freight rates hit record levels as traders scrambled to park crude in storage to take advantage of a record gap between spot and future prices shortly after Russia invaded Ukraine. Freight rates for very large crude-oil carriers (VLCC) along the Middle East Gulf to China route reached as high as $180,000 a day while VLCC…
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he Thar coal power project has started generating 1,320 MW on a trial basis and the electricity would soon become part of national grid, a senior official said on Sunday. “The test production of 1,320 MW has successfully been started,” Sindh Energy Minister Imtiaz Sheikh said in a statement issued on Sunday. “This production plant is being run in cooperation…
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With the country’s economic situation getting appalling, the documents have revealed that Pakistan’s energy sector is running completely on credit. The circular debt in the energy sector is also swelling as the government is unable to pay dues to independent power producers (IPPs). The documents available with SAMAA TV containing details of dues of the energy sector revealed that it is running…
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The press release added that the energy ministry submitted a summary of accrued interest with respect to the amount held in an escrow account in connection with the Reko Diq project dispute settlement. The statement highlighted that the federal and Balochistan government entered into an out-of-court dispute settlement with Tethyan Copper Company Pvt Limited with respect to the project. “In the light…
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The ongoing ‘default’ discussion is a favourite political and economic pastime. After the first decade since independence, Pakistan never got rid of a default threat. It will remain exposed to bankruptcy risk due to a continuously rising debt and the cost of servicing factor. It will remain dependent on external borrowing unless economy’s direction is not corrected. Pakistan’s financial condition…
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A team of the Oil and Gas Regulatory Authority’s (OGRA) Enforcement Directorate on Sunday stopped the illegal and dangerous activities of selling LPG in plastic shopping bags, taking place in parts of the provincial capital of Khyber Pakhtunkhwa – Peshawar. “OGRA team along with District Management visited different parts of Peshawar including Rati bazaar, Ashraf road and Khyber bazaar after…
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