Pakistan will start building a 1,100 kilometer (684 miles) pipeline in July with Russia that will allow the South Asian nation to operate more liquefied natural gas terminals. The South Asian nation will have a majority share of 51% to 74% in the project, while Russia will own the remainder, Nadeem Babar, petroleum adviser to the prime minister, said in…
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OMCs Made Rs8b During Petrol Crisis: Inquiry Report
ISLAMABAD: A commission of inquiry formed in July this year to probe into a sudden shortage of petrol in the country has noted that one of the reasons behind the crisis was a lack of coordination among the departments working under the Petroleum Division. This is revealed in a report of the Federal Investigation Agency (FIA) led inquiry panel. The…
Read MorePower generation: FO out for now
Power generation on the NTDC system increased by 7 percent year-on-year for October 2020 at 10.2 billion units, taking the 4MFY20 generation higher by 3 percent year-on-year. As anticipated and flagged earlier in this space, furnace oil is gradually being withdrawn as the demand cools down. Recall that FO and HSD based power generation has increased by a massive 34…
Read MoreCabinet to Mull SNGPL MD Hiring
ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) board of directors has turned down reports of intelligence agencies and has recommended the same candidates for appointment as head of the public utility. Earlier, the Prime Minister’s Office had sought report of intelligence agencies on the credentials and financial integrity of existing SNGPL Acting Managing Director Amer Tufail and SNGPL General Manager…
Read MoreGovt procures LNG at four-year lowest rate
ISLAMABAD-The Petroleum Division (PD) on Sunday shared a comparative statement about the purchase of Liquefied Natural Gas (LNG) for a period from December-2017 to January-2021, which showed the government procured the commodity at the lowest rate for the current and next months. According to the statement placed on the official Twitter account of the Petroleum Division, the government procured as…
Read MoreOil tanker ‘attacked by bomb-laden boat’ in Jeddah, Saudi Arabia says
Saudi Arabia says an oil tanker was attacked by an explosive-laden boat while it was anchored at Jeddah’s port. The overnight attack at the facility’s fuel terminal resulted in a small fire on board that was extinguished, the energy ministry told state media. The owner of a Singapore-flagged tanker, BW Rhine, earlier said that it had been “hit from an…
Read MorePakistan Decides Against New Coal-fired Power
ISLAMABAD – Pakistan Prime Minister Imran Khan announced Saturday that his country would have no new coal-fired power generation as part of its contribution in global efforts against climate change. Khan gave details of the substantial undertaking while addressing the international Climate Ambition Summit 2020, held virtually because of the coronavirus pandemic. The United Nations, United Kingdom, France, Chile and…
Read More$226 Billion Pension Fund Considers Dumping Oil & Gas Investments
The $226-billion New York State Common Retirement Fund is undertaking a review of all energy companies it is invested in, to assess their readiness for the energy transition and dump those considered riskiest in climate-related investment. As it pledged on Wednesday to transition its portfolio of holdings to one with net-zero greenhouse gas emissions by 2040, the pension fund—the third-largest…
Read MorePakistan won’t approve new coal power plants
Pakistan’s Prime Minister, Imran Khan, announced over the weekend that as part of a number of efforts to counteract the effects of climate change, his administration will not approve new coal-fired power generation projects. “We have already scrapped two coal power projects which were supposed to produce 2,600 megawatts of energy. [We have] replaced them with hydroelectricity,” Khan said during his address…
Read MorePowering dream of EV revolution
KARACHI: The atmosphere was electrified in the headquarters of Tesla on the battery day held on September 22 as expectations were high that perhaps their charismatic CEO Elon Musk had found a secret recipe to make cheaper, reliable and safest batteries. So far, the company’s stock has surged 10 times in a span of just one year and is now…
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