Energy sector under acute stress: Nepra

National Electric Power Regulatory Authority (Nepra) said on Wednesday that Pakistan’s energy sector is under acute stress of take or pay mode of contract which have long-term implications. Addressing Energy Week, Nepra’s member, tariff, Saif Ullah Chatha said the purpose of the seminar is to provide a platform for interaction and discussion to combat energy challenges. He was of the view that on one side there is cry of capacity trap and surplus energy and on the other still large areas of the country are without electricity. “The reasons of…

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Pakistan seeks IAEA support to boost N-power programme

ISLAMABAD: Pakistan has sought the support of the International Atomic Energy Agency (IAEA) to strengthen its nuclear power programme as the country is significantly scaling up nuclear power to meet the rising energy demand. To facilitate the rapid expansion of nuclear power, IAEA has amalgamated four of its pre-existing national technical cooperation projects, which supported the regulators, operators, waste managers and non-destructive testers involved in Pakistan’s nuclear power programme, into a single project, according to a press release of IAEA. IAEA’s streamlined support for Pakistan aimed to expand the nuclear…

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OGDC’s half-year profit slips 6pc on high exploration cost

KARACHI: Oil & Gas Development Company Limited (OGDCL) on Wednesday said its profit, for the 6-month period ended December 31, 2019, dropped 6 percent year-on-year primarily owing to surging exploration cost and a fall in production amid easing international crude oil prices. A statement said the company earned Rs53.184 billion in the first half of the current fiscal year compared to Rs56.756 billion posted in the same period last year. As a result of lower profitability, the earning per share (EPS) for the period settled down at Rs12.37, vis-à-vis Rs13.20…

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Aramco Starts Early Preparations for an Overseas Listing

Saudi Aramco is starting early preparations for an international listing, just months after the oil giant turned its record initial public offering into a domestic affair and sidelined global banks, people with knowledge of the matter said. The world’s largest publicly traded company is in discussions with Wall Street banks to draw up scenarios for a second listing overseas, according to the people, who asked not to be identified because the information is private. Aramco wants to be ready to move ahead if Saudi Arabia’s de-facto ruler, Crown Prince Mohammed…

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Syed Muhammad Taha Takes Charge As The New MD & CEO PSO

February 26 2020: Known and respected for his transformational skills in the energy sector over two decades of experience in the industry, the newly appointed Managing Director & CEO of Pakistan State Oil Co. Ltd, Syed Muhammad Taha has taken charge of the company. Speaking about his appointment, Mr. Taha said: “I am truly honoured to lead the country’s largest oil marketing company with utmost devotion. PSO has huge growth potential in fuel & non-fuel retail, as well as in the lubricants segment. I am well aware of the chronic problems…

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Female Pakistani aerospace engineer Dr Sarah Qureshi unveils an engineering marvel which would take aviation industry by storm

ISLAMABAD – A female aerospace engineer from Pakistan is developing a pollution-free engine for airplanes which will reduce global warming and induce artificial rain during flight. Dr. Sarah Qureshi, who holds a Master’s in Aerospace Dynamics and a Ph.D. in Aerospace Propulsion from Cranfield University, UK, is confident that her invention will take the aviation industry by a storm. [Gallery] These 30 women are the most beautiful in the world Easyvoyage Top 5 reasons to live and study in Warrnambool, Australia Deakin University International by TaboolaSponsored Links Pakistani PM Imran…

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Issues in energy for development

The welfare of humanity has critically depended on our ability to harness and use energy. Development in Pakistan has similarly faced huge obstacles resulting largely from our inability to organise the availability of energy at a reasonable cost in a world where energy supply is plentiful and evolving technology is making it cheaper. Our history is replete with episodes of ‘stop-go’ growth driven by energy shortages and excessive costs both of which arise from mismanagement. Energy policy has been reactive, lacking coherence, foresight as well as cost consciousness. Instead of…

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Shale Decline Inevitable As Oil Prices Crash

The U.S. shale industry continues to show signs of slowing down, with production declining in major shale basins outside of the Permian.close [x]PauseUnmuteLoaded: 56.44%Remaining Time -0:36Picture-in-PictureFullscreen Financing stress has plagued the shale sector for quite some time, but investors continue to bail on oil and gas stocks. The FT points out that the energy sector is now underperforming the S&P 500 “by the biggest margin since the Japanese attack on Pearl Harbor in December 1941.” In other words, it has been nearly 80 years since U.S. oil and gas stocks have performed so badly…

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Pakistan is Considering Killing 2 LNG Deals After Receiving Cheaper Offers: Bloomberg

The state-owned Pakistan LNG Ltd, which is the main buyer of liquefied natural gas, is considering canceling two long-term contracts because of a slump in market prices and abundant production, which have created opportunities for cheaper supply, reported Bloomberg. Pakistan LNG Ltd. is weighing the possibility of exercising termination clauses in contracts it signed with Eni SpA and Gunvor Group Ltd. in 2017. However, the report stated that as of yet, no final decision has been made and the company is seeking input from the Ministry of Energy. According to Bloomberg…

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The Dark Side Of Hydropower

Hydropower is the largest single source of renewable electricity in the world, dwarfing solar and wind. As such, it has established a positive reputation in the media and many academic papers. But that’s not the whole story … close [x]PauseUnmuteLoaded: 100.00%Remaining Time -0:08Picture-in-PictureFullscreen Hydropower has a darker side that is threatening freshwater ecosystems more than oil, more than gas, and more than any other form of energy. As of 2019, the world’s total renewable energy capacity stood at 2,351 GW, of which around half—or 1,172 GW—was hydropower capacity. This includes both large dams and so-called…

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