Individual GCC states have settled on convoluted ways of distributing natural gas due to a lack of cooperationThe states bordering the Gulf are caught in a cat’s cradle of geopolitical complexity. This is as much the case within the Gulf Cooperation Council (GCC) as it is between certain GCC states and Iran. The muddle is clearly illustrated by the minimal…
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Pakistan Prime Minister Imran Khan has said that China-Pakistan Economic Corridor (CPEC) will be a ‘game changer’ for the motherland, bringing unprecedented prosperity and progress to the country. “It (CPEC) is a project that will take Pakistan to new heights [of prosperity],” Mr. Khan said after witnessing the signing of agreement with China Gezhouba for Azad Pattan hydropower project at…
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Taiwan-based TSMC signed a corporate power purchase agreement (CPPA) with Ørsted for the Greater Changhua 2b & 4 offshore wind farm on 8 July. TSMC will offtake the full production from the 920 MW wind farm, making this the largest-ever contract of its kind within renewable energy, according to Ørsted. The contract has been signed with a fixed-price and will…
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Pakistan’s energy sector has been in perpetual crisis, for one reason or another. From massive load shedding to expensive power and from untargeted subsidies to inefficient transmission networks – either or all keep making a comeback, from time to time. It is 2020 and the problems remain decade old – and getting worse in a few cases. Inaction has caused…
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The American Petroleum Institute (API) estimated on Tuesday a build in crude oil inventories of 2.048 million barrels for the week ending July 3. Analysts had predicted an inventory draw of 3.114 million barrels. In the previous week, the API reported a major decrease in crude oil inventories of 8.156 million barrels, after analysts had predicted a much smaller build.…
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KARACHI: Pakistan has resumed spot buying of liquefied natural gas (LNG) from the international market after six-month pause as energy demand is ramping up with easing lockdown, it was learnt on Monday. State-run Pakistan LNG Limited (PLL) invited bids for supply of three LNG cargoes – 140,000 cubic meters each – to be delivered in August and September. PLL invited…
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Former Managing Director (MD) of Pakistan State Oil (PSO), Shahidul Islam has been declared an offender by the Accountability Court for his continuous absence in the LNG scam case that also involves former Prime Minister Shahid Khaqan Abbasi. According to details, the decision was taken after the NAB prosecutor apprised the court that the accused has left the country to…
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Dominion Energy, one of the nation’s largest utilities, in late June erected wind turbines off the Virginia coast — only the second such installation in the United States — as part of a big bet on renewable energy. The company is also planning to build new power plants that burn natural gas. Utilities around the country are promoting their growing…
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Books can be written on the inefficiencies, incompetence, and irregularities in Pakistan’s energy sector. The PMLN regime tried to address sectoral deficiencies by launching plethora of base-load plants to match the peak load without giving any consideration to heightened capacity charge, transmission, or distribution constraints. Now that the power plants have been commissioned, power generation capabilities are higher than peak…
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EDITORIAL: According to a Business Recorder exclusive report, frequent ongoing outages in major cities of the country are due to system constraints rather than a generation shortfall as was the case during previous administrations. Except for K-Electric there is not a single distribution company, including Islamabad Electric Supply Corporation, which has consistently shown high receivables, that has been able to draw the…
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