Month: May 2020

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Friday expressed serious concern over the deteriorating performance of the power distribution companies (Discos), increasing circular debt and worsening governance in the power sector. It advised the govern­ment to immediately close down its power plants. In its flagship State of the Industry Report 2019, the power regulator questioned the continua­tion of the federal Ministry of Energy, and Power Division, with the centralised control of day-to-day operations of public sector enti­ties, which had led to unacceptable technical and financial perfor­mance. It challenged…

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ISLAMABAD: National Electric Power Regulatory Authority (Nepra) has accused the Power Division of controlling Distribution Companies (Discos), which use it as a shield, which leads to competition and opening of the sector. The regulator, in its State of Industry Report 2019, released Friday, has said that the power sector is under extreme financial pressure due to high cost of electricity supply and poor performance of distribution sector. Coupled to the higher costs are shrinking energy sales, which has resulted in higher cost for the end-consumers; further damping energy usage. “Distribution…

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Islamabad: GE (NYSE:GE) has announced the appointment of Masroor Mahmud as its CEO for Pakistan. He is mandated with driving the company’s growth in the country and aligning business strategy across all GE sectors with the government’s vision for development. In addition, Masroor will focus on enhancing talent development, ensuring risk management, and building a strong GE brand, through long-term, strategic partnerships. A GE veteran of 14 years, Masroor has held several leadership roles in finance, commercial, and operations, working across the Middle East, Africa, Europe and the U.S. He began…

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The Commodity Futures Trading Commission has warned that as the expiry date for the June West Texas Intermediate contract approaches, the chances of extra price volatility have increased. The regulator told brokers, exchanges, and clearing houses that “they are expected to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative pricing.” Last month, when the May WTI contract expired, a frantic selloff among traders triggered a price slump deep into negative territory, with the benchmark at one point reaching -$38…

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Falling prices for oil and natural gas during the novel coronavirus pandemic have prompted the closure of nearly a quarter of land-based US rigs in the United States, excluding Alaska, the Energy Information Administration (EIA) said in a report on Thursday WASHINGTON (UrduPoint News / Sputnik – 14th May, 2020) Falling prices for oil and natural gas during the novel coronavirus pandemic have prompted the closure of nearly a quarter of land-based US rigs in the United States, excluding Alaska, the Energy Information Administration (EIA) said in a report on…

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