Month: July 2020

The Power Sector Constraints

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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 amount of power that was made available to it. A total of 23,940MW of power was allocated to meet estimated demand of 22,626MW, however, 19,321MW was drawn due to system…

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OGRA Set To Become Dysfunctional From July 17

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ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) is going to be dysfunctional from July 17, 2020 as tenure of its chairperson Uzma Adil is to culminate on the same date. She has been chairperson of the regulatory body for four years. Uzma, who is Charted Accountant by profession, joined the regulator as first ever lady chairperson in 2016 and took very bold steps in regulating the oil and gas sectors. Prior to joining Ogra, she was CFO (Chief Financial Officer) in Sui Northern. Member Oil Dr Abdullah Malik already…

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Brent oil scores lift from Saudi price rise, China optimism, while U.S. crude weighed down by rising coronavirus cases

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nergy-producing nations have “weathered the COVID-19 demand devastation storm and non-compliance [with output cuts] should become the end-of-summer theme for OPEC+,” said Moya. On Monday, West Texas Intermediate crude for August CLQ20, -0.09% was down 13 cents, or 0.3%, at $40.49 a barrel on the New York Mercantile Exchange, after posting a weekly gain of 5% on Thursday, with U.S. markets closed for Independence Day on Friday. Global benchmark Brent oil for September BRNU20, -0.04% rose 38 cents, or 0.9%, at $43.18 a barrel on ICE Futures Europe. U.S. markets…

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Highest ever hydel electricity generated in 2019-20: Asad Umar

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ISLAMABAD: Minister for Planning, Development and Special Initiatives Asad Umar on Sunday said WAPDA produced the highest ever hydel electricity in 2019-20 with an increase of 20 per cent, compared to the previous year. In his tweet, the minister said massive hydel capacity increase was taking place with Dasu, Mohmand and Diamir Bhasha Dams being built. “We need to rely on local renewable energy instead of expensive imported thermal fuels,” he added. Read More: NEPRA directs power distribution companies to immediately minimise load shedding Earlier, on June 25, Prime Minister…

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Pakistan, China ink accord for construction of Azad Pattan Hydel Power Project

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ISLAMABAD: Pakistan and China on Monday signed an agreement for the construction of Azad Pattan Hydel Power Project. Prime Minister Imran Khan, Power and Petroleum Minister Omar Ayub Khan and Special Assistant to PM on Information and Broadcasting & CPEC Authority Chairman Lt Gen (r) Asim Saleem Bajwa witnessed the signing ceremony. Addressing the ceremony, the prime minister said the China-Pakistan Economic Corridor (CPEC) project will prove to be a milestone in the country’s development and prosperity. He said China is emerging as an economic power on the world’s map…

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