Year: 2020

Petroleum Division to float tenders for 27 new E&P blocks

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ISLAMABAD: The Petroleum Division (PD) has planned to auction 27 new Exploration and Production (E&P) blocks for stepping up oil and gas drilling activities in different hydrocarbon potential areas of the country. “The advertisement for the award of 20 E&P blocks will be given in the first week of October, while seven offshore blocks will be offered in December,” a senior official privy to petroleum sector developments told APP. The official said that the Pakistan Tehreek-e-Insaf (PTI) government was fully aware of the prevailing energy situation in the country and taking…

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Why renegotiating the IPP contracts may cause more problems than it solves

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When the government first announced that it had renegotiated contracts with independent power producers (IPPs) that it deemed excessively favourable to the power companies, it was almost uniformly hailed as a successful policy achievement. There seemed to be a general consensus that electricity generation in Pakistan was too expensive (it is), and that the supposedly excessive profits of the industry were to blame (not really). However, in the aftermath of the initial celebration, what is now emerging more clearly than before are two key problems that have been largely ignored…

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Biomass power plants produce low-cost electricity’

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LAHORE: The cost of electricity from a biomass-to-electricity power plant is less than solar and wind power plants, said Pakistan Electric Power Company (PEPCO) sources. They said the Levelized Cost of Electricity (LCOE) for biomass fuelled power plant as determined by NEPRA is approximately US cents 8.28/kWhr and those for coal, RNLG, wind, and solar power plant are US cents 7.79/kWhr, US cents 12.44/kWhr, US cents 8.20/kWhr, and US cents 11.31/kWhr, respectively. Media reports suggest that the World Bank’s Board of Executive Directors has approved $450 million financing to support…

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Energy sector may take circular debt to Rs4trn by 2025’

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KARACHI: Engro Energy Limited CEO Ahsan Zafar Syed estimates that if the DISCO operations are not improved, the inefficiencies in country’s energy sector will take the circular debt to approximately Rs 4 trillion by 2025. He was speaking at the online Corporate Pakistan Group (CPG) Dialogue, organized under the topic ‘Fixing Pakistan’s Power Sector,’ on Friday. The speakers at the dialogue including CEO Engro Energy Ahsan Zafar Syed, Dr Fiaz Chaudhry, Professor of Practice, Director LUMS energy institute Werner-Von Siemens Chair and Aftab Mahmood Butt, Managing director, Kott Addu Power…

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NSC issuance for KE transaction: PM asks PC to move summary to ECC

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ISLAMABAD: Prime Minister Imran Khan has directed Privatisation Commission (PC) to move a summary to the Economic Coordination Committee (ECC) of the Cabinet on issuance of National Security Certificate (NSC) for KE transaction and future line of action, well informed sources told Business Recorder. These instructions were issued by the Prime Minister on September 16, 2020 at a meeting held on power sector issues including circular debt, the sources added. The government was reluctant to issue NSC for KE transaction due to disagreement between the power utility, CPPA-G and SSGC…

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