Year: 2020

NEPRA, experts discuss CTBCM model

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ISLAMABAD: The power regulator said on Tuesday that the Competitive Trading Bilateral Contract Market (CTBCM) would be a game changer for the power industry of Pakistan. During a webinar on CTBCM, a large number of renowned national and international experts and stakeholders of the electric power sector shared their views on the subject. Shedding light on the CTBCM model, Nepra Chairman Tauseef H Farooqi said Nepra had approved a detailed design and implementation plan for CTBCM that would create a competitive environment in the power sector for the benefit of…

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Coronavirus spreads to Antarctic research station

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The Sargento Aldea arrived at the research station on 27 November and sailed back to Chile on 10 December. Three of its crew tested positive upon their return to the Chilean naval base in Talcahuano. Chile’s navy said all of those who had embarked on the trip to the Antarctic had been given PCR tests and all the results had been negative. The Bernardo O’Higgins research station is one of four permanent bases which Chile has in the Antarctic and is operated by the army. Chile is the sixth worst-affected…

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ConocoPhillips Makes Large Oil Discovery Offshore Norway

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The new discovery on the Slagugle prospect is just 14 miles north-northeast of the Heidrun Field, which was discovered by Conoco in 1985 when it was the operator for the exploration and development phase. Heidrun has been producing oil and gas since 1995. ConocoPhillips, the operator of the license containing the latest oil discovery on the Slagugle prospect, will now assess the find alongside other nearby prospects with a view toward future delineation of the discovery and potential tie-in to existing infrastructure in the area, the Norwegian Petroleum Directorate said.…

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The Pakistan Stream Gas Pipeline raises Russia’s stakes in South Asia

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Last month’s agreement to begin construction next summer of the Pakistan Stream Gas Pipeline – formerly referred to as the North-South Gas Pipeline – shows that Russia is raising its stakes in South Asia. It represents the evolution of its fast-moving rapprochement with Pakistan and gradual movement towards an eventual strategic partnership. The “military diplomacy” between the two which first began due to shared security threats stemming from ISIS’ presence in Afghanistan and then laid the basis for February’s planned multilateral AMAN-2021 naval drills is now transforming into “energy diplomacy”.…

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Pakistan, IMF talks: Power tariff to go up by 25-30pc

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ISLAMABAD: Pakistan and the IMF are inching towards formal revival of the stalled Fund programme, as the government has decided to hike power tariff by 25-30 percent and to abolish up to Rs200 billion corporate sector income tax exemptions. The top political leadership has given go-ahead to the economic team to fulfill all the required prerequisites for revival of the stalled programme under $6 billion Extended Fund Facility (EFF). The power tariff will be hiked in a gradual manner up to 25 to 30 percent in a bid to fulfill…

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