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NTDC Submits System Operator Licence Application to NEPRA – A Giant Leap Forward for the Power Sector of Pakistan

August 25, 2022August 25, 2022 Admin

Islamabad, In a major development, Deputy Managing Director (P&E), National Transmission and Despatch Company (NTDC) called on Chairman NEPRA, Mr. Tauseef H. Farooqi at NEPRA HQ, Islamabad this morning to submit the System Operator (SO) Licence application along with the draft Grid Code, on behalf of NTDC. Mr. Farooqi appreciated the untiring efforts of the NTDC team in preparation of…

Qatar Investment Authority aims to invest $3 billion in Pakistan

August 25, 2022August 25, 2022 Admin

The Qatar Investment Authority (QIA) plans to invest $3 billion in Pakistan, Qatar’s Emiri Diwan said on Wednesday, lending support to the cash-strapped economy. Pakistan is in economic turmoil and faces a balance of payments crisis, with foreign reserves having dropped as low as $7.8bn, barely enough for more than a month of imports. The country is also contending with…

PM Shehbaz announces fuel charge adjustment exemption for 17m power consumers

August 25, 2022August 25, 2022 Admin

Prime Minister Shehbaz Sharif on Tuesday announced that 17 million of the total power consumers will be exempted from paying the high fuel charges adjustment (FCA) in their electricity bills. In a video address from Qatar, where he is on a two-day trip, the prime minister explained the mechanics behind why FCA was levied and said it had seen a…

Rare Earth minerals in Pakistan worth $50 trillion

August 24, 2022August 24, 2022 Admin

According to the United States geology reports. There is at least $50 trillion worth of rare earth minerals in Pakistan. Pakistan neither has the technology, government nor organization skills to excavate these highly valuable minerals. These minerals are the 21st century version of oil nowadays because very few countries have them There is more countries with oil than rare earth…

Russia’s Oil Production On Track For First Drop In Four Months

August 24, 2022August 24, 2022 Admin

Russian crude oil and condensate production has been 1.9% lower this month compared to July, and if the trend holds, August will be the first month in four in which Russian production will have dropped from the previous month, according to Russian energy ministry data seen by Bloomberg. Russia has managed to restore its oil and condensate production to the…

Iran Offers To Help Europe With Oil And Gas Deliveries This Winter

August 24, 2022August 24, 2022 Admin

Iran has offered its assistance to Europe in the form of oil and gas deliveries for the winter, per a statement by Iranian Oil Minister Javad Oji. According to a report in Iran Front News, the minister noted that energy prices were out of control, pointing to Germany as an example and saying businesses there might have to shut down…

LNG Prices Haven’t Hit A Ceiling Just Yet

August 24, 2022August 24, 2022 Admin

The spot prices of liquefied natural gas have gone through the roof this year as Europe suddenly became a major buyer in its attempts to reduce reliance on Russian commodities. Since last year, LNG spot prices were up 267 percent, averaging $57 per million British thermal units in the week to August 19, per Reuters data. However, this price does…

Discos seek Rs3.7 per unit hike, Rs94.4bn more recoveries

August 24, 2022August 24, 2022 Admin

The power Distribution Companies (Discos) have sought an increase of Rs 3.7 per unit and to recover additional amount of Rs 94.4 billion from consumers for 4th quarter of CFY 2021-22 under Quarterly Tariff Adjustment (QTA) mechanism. K-Electric has sought an increase of Rs 14.53 per unit for third quarter under QTA mechanism against additional financial burden of over Rs…

China’s Power Crisis Could Reach a Himalayan Scale

August 24, 2022August 24, 2022 Admin

That makes the problems being experienced in the backyard of the Three Gorges a warning to other economies in Asia that would seek to follow China’s path to development. Daily hydro generation has fallen 51% amid the worst drought on the Yangtze since the early 1960s, part of a worldwide drying that’s also closed the Rhine to barge traffic. That’s led to factory shutdowns as…

100MW solar power project: Nepra approves 13pc RoE for Turkish co on PM’s intervention

August 24, 2022August 24, 2022 Admin

The National Electric Power Regulatory Authority (Nepra) has shown ‘special kindness’ to Turkish company M/s Zorlu Solar Pakistan Limited (ZSPL) by approving 13 percent Return on Equity (RoE), after intervention of the Prime Minister who apologized publicly to the Turkish companies for mistreatment in the past. The company intends to establish 100MWp solar power project at Quaid-e-Azam Solar Power Park…