Year: 2020

Strong growth of the renewable power sector will be a key driver of energy transition in China, according to BP Energy Outlook 2020, which was released recently. The country is also expected to remain the world’s largest primary energy consumer despite slowing demand growth. BP forecast that energy demand growth in China will slow dramatically compared to past trends, and the growth of industrial energy demand will be concentrated in the emerging world outside of China as energy-and labor-intensive industrial activities are being increasingly relocated from the developed world and…

Read More

Former president Benigno Aquino halted activities six years ago amid territorial disputes with China, which has claimed sovereignty over much of the South China Sea. A 2016 ruling by the Permanent Court of Arbitration has since dismissed these claims under UN conventions. Under Duterte’s leadership, the Philippines has aligned itself more closely with China since that ruling – despite support offered by the US to back its territorial claims – and discussions over a joint venture between Chinese and Philippine companies to develop offshore hydrocarbon resources are ongoing. Philippines energy…

Read More

The country’s trade deficit soared to $5.8 billion in the first quarter of the current fiscal year, according to data shared by the State Bank of Pakistan (SBP). The central bank said foreign direct investment (FDI) declined by 24 per cent to $415.7 million from July to September as compared to last year’s corresponding period. The foreign investment was recorded at $189 million in September 2020. The power sector received foreign direct investment (FDI) worth $113.3 million in the first quarter of the fiscal year 2020-21 while financial business $102.5…

Read More

ISLAMABAD: The Auditor General of Pakistan has identified 447 cases of embezzlement, misappropriation, fraud, financial irregularities and violation of laws in entities of water and power sectors involving over Rs 4 trillion during the financial year 2019-20 – the first year of PTI government. According to the AGP report tabled in the National Assembly, 318 cases were identified in the power sector, ie, Pepco, NTDC and power Distribution Companies (Discos) amounting to Rs 2.964 trillion during the previous financial year. AGP’s key audit findings in power sector are as follows:…

Read More

ISLAMABAD: Experts have praised the government’s move to promote the use of liquefied natural gas (LNG) in vehicles in place of compressed natural gas (CNG). In a statement on Saturday, Pakistan Economy Watch Chairman Aslam Khan said as per plan, the conversion of CNG stations into RLNG was in progress and the filling stations would not get natural gas in future. “Instead, CNG stations will use imported LNG, which will bring an end to the scarcity of gas for vehicles during winter,” he said. Khan said the move would reduce…

Read More