Month: February 2020

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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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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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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Karachi: February 27, 2020: Pakistan Petroleum Limited (PPL) donated Rs. 10 million to Sindh Institute of Urology and Transplantation (SIUT) and Rs. 5 million to The Kidney Centre (TKC) for provision of quality healthcare to deserving populations as part of its long-term and diverse Corporate Social Responsibility Programme.  MD and CEO PPL Moin Raza Khan presented the cheque to Professor and Director SIUT Dr. Syed Adibul Hasan Rizvi at SIUT’s main premises on February 26. The donation will be utilized for purchase of a Lithoclast surgical machine used in removal of kidney stones.…

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Vice Chairman National Electric Power Regulatory Authority (NEPRA) Bahadur Shah on Tuesday said that provision of clean, affordable and reliable electricity was vital for poverty reduction, sustainable development and economic growth ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 25th Feb, 2020 ) :Vice Chairman National Electric Power Regulatory Authority (NEPRA) Bahadur Shah on Tuesday said that provision of clean, affordable and reliable electricity was vital for poverty reduction, sustainable development and economic growth. “We urgently need a long-term solution to Pakistan‘s energy needs and this can only be achieved through working…

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