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No power meter will be installed in new houses sans securing energy efficiency certificate under poposed policy

December 9, 2022December 9, 2022 Admin

The proposed energy efficiency policy is going to make it mandatory that no electricity meter will be installed in the new houses without securing an energy efficiency certificate along with the energy map. “We are bringing new energy efficiency policy, making it mandatory to secure energy efficiency certificate along with energy map for building new houses,” Secretary Power Division told…

Cabinet Approves Restoration of 11 Cancelled Petroleum licences

December 9, 2022December 9, 2022 Admin

The federal cabinet has approved the restoration of 11 cancelled petroleum exploration licences on the recommendation of the Petroleum Division. The cabinet met under the chairmanship of Premier Shehbaz Sharif on Thursday.During the meeting, the Ministry of Planning presented a report related to the biblical floods in Pakistan during the current year. The Post-Disaster Needs Assessment (PDNA) was conducted by…

Oil Prices Fall on Weakening Demand

December 9, 2022December 9, 2022 Admin

Oil prices fell on Thursday on the prospect of a key Canada-to-U.S. crude pipeline that shut after a leak returning to service soon, putting a hefty amount crude back into the market at the same time that global economic slowdowns raised fuel demand fears. Brent crude lost 67 cents, or 0.9 percent, to $76.50 a barrel by 1629 GMT, while…

Electricity bills: PD says doesn’t want to manage tax, surcharge collection

December 9, 2022December 9, 2022 Admin

The Power Division has expressed willingness to do away with the role of collection of taxes and surcharges on electricity except General Sales Tax (GST) to avert criticism of consumers due to heavy bills. This intention was conveyed by the Minister for Power, Khurram Dastgir Khan at a meeting of National Assembly Standing Committee on Power during discussion on a…

I have been asked a few times by some of my friends about Pakistan’s offshore potential.

December 9, 2022 Admin

It’s been a long time since I last looked into the offshore data in the BP office in London. Without getting into granularity, exploration history of Pakistan offshore in general is not much different from other successful offshore basins across the globe. It is one of the largest frontier offshore basins in the world. A common theme in all these…

UK condemned by its own climate advisers for greenlighting first new coal mine in three decades

December 8, 2022March 21, 2024 Admin

Scientists, environmentalists and even the UK government’s own climate advisers have strongly criticized its decision to approve a plan to open the country’s first new coal mine in three decades, a little more than a year after the nation tried to convince the world to ditch the filthy fossil fuel at the COP26 climate talks in Glasgow. Michael Gove, the…

Oil Markets Are Bearish But Downside Is Limited

December 8, 2022December 8, 2022 Admin

WTI and Brent crude oil prices fell for a third straight session on Tuesday, with the U.S. benchmark now at its lowest level in a year. Front-month Nymex crude for January delivery closed the day -3.5% to $74.25/bbl, its lowest in nearly a year, while February Brent crude finished -4% to $79.35/bbl, its weakest close since January 3. It’s now…

Gas crisis raises monthly expenses

December 8, 2022December 8, 2022 Admin

Hours of electricity shutdowns in the summer and hours of gas load shedding in the winters, such is life for the residents of the country’s most populated city – who are irked by the additional costs they are having to bear to cook food or keep warm ever since the mercury dropped. The residents of Karachi, much like the rest…

Steel Sector: LCCI Urges Environment Dept to Stop Action Against Furnaces

December 8, 2022December 8, 2022 Admin

The Lahore Chamber of Commerce and Industry (LCCI) has urged the Environment Department to immediately stop coercive measures against furnaces installed in the steel sector until standardised scrubbers are finalised. President of LCCI Kashif Anwar while speaking to a delegation of the All Pakistan Small Steel Re-Rolling Association said that it is encouraging to know that the SIDB is planning…

Ombudsman asks PD, Discos to resolve complaints Immediately

December 8, 2022December 8, 2022 Admin

Federal Ombudsman Ejaz Ahmad Qureshi has directed Power Division and Distribution Companies (Discos) to resolve complaints of citizens immediately. On Wednesday, a meeting was presided over by the Federal Ombudsman which was attended by senior Officers of WMS, Secretary Power Division Rashid Mahmood Langrial, Chief Executives of IESCO, LESCO and PESCO. The meeting was informed that during the year 2022…