Chevron Corp, Royal Dutch Shell Plc and BHP Group all said workers were headed back to production platforms in the U.S.-regulated northern Gulf of Mexico. BHP expects to complete the return of workers to its Shenzi and Neptune production platforms on Sunday, spokeswoman Judy Dane said, adding that resuming flows will depend on how quickly pipelines return to service. It…
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Reports indicate that Pakistani authorities held a video conference with the International Monetary Fund (IMF) mission led by Ernesto Rigo for the stalled 6 billion dollars Extended Fund Facility programme recently in which the Fund team reportedly insisted on raising power tariffs as well as achieving the budgeted tax revenue target of 4.9 trillion rupees for the current year. This…
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Spanning over decades, Pakistan’s peaceful nuclear programme became a great success story though it has been subjected to a politically motivated narrative all along. The peaceful application of nuclear energy relates to power generation, agriculture, health, mineral exploration, industry and of course is vital for socio-economic uplift of any country. In addition, the nuclear power projects provide employment opportunities to…
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Islamabad- The Federal government and government of Balochistan have yet to resolve the issue pertaining to the signing of Development and Production of the Sui Lease even after the passage of more than five years of the expiry of the lease in July 2015. A committee comprising of the Federal and Balochistan government representatives will meet tomorrow (Tuesday) to attempt…
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Iraq expects the pressure on oil prices to continue through at least the first quarter of 2021, with oil minister Ihsan Abdul Jabbar expecting the average for Brent during January-March 2021 at $45 a barrel, Bloomberg reports, citing an interview of Jabbar for Iraqi daily Al Sabah. As a result of this expectation, Baghdad will be basing its 2021 budget…
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The European Union (EU) aims to make buildings more energy efficient to save energy and cut emissions, European Commission President Ursula von der Leyen said on Monday. Public buildings and private homes are currently responsible for 40 percent of the EU’s energy consumption, she said, noting that the process of renovation and retrofitting has already started. “But at the current…
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The loan programme of the International Monetary Fund (IMF) suspended in January remains in limbo as Pakistan’s public debt went past 87 per cent of GDP at the end of 2019-20, up from about 72pc of GDP at the end of 2017-18. Pakistan direly needs the IMF support to maintain healthy foreign inflows from bilateral and multilateral lenders to keep…
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Pakistan’s energy crisis resulting from expensive fuel sources, chronic natural gas and electricity shortages, highly inefficient distribution system, culture of non-payment of bills, theft, circular debt, and inadequate and aged transmission and distribution systems – has played a role in the country’s laggard economic growth. But while the country’s power sector woes are much talked about, far less is debated…
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September – October 2020
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