Year: 2020

Siemens Gamesa Renewable Energy’s new financial strategy will look familiar to those following the pinched U.S. shale sector: the German-Spanish wind turbine manufacturer plans to focus less on breakneck growth, and more on profitability and cash generation.  “We cannot live from volume,” C.E.O. Andreas Nauen said on August 27th in a conference call as the company unveiled its new strategy. “We have to make a profit.”   With revenue of more than €10 billion in 2019, Siemens Gamesa has emerged as the world’s number two builder of the Statue of Liberty-sized wind turbines now…

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Earlier this year in the US, energy generation from wind, solar, and hydroelectric dams combined to top coal generation for over two months straight. This was the product of spring peaks in renewable generation and reduced electrical demand during lockdowns, but those events were layered on top of coal’s continuing decline and the long-term growth of renewables. A new report from the Lawrence Berkeley National Laboratory looks back at 2019—what is now known as the Before Times—to tally up year-end totals for the wind industry. The topline number is that…

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Oil and Gas Development Company (OGDC) has made a gas and condensate discovery in its exploratory well Saib-1 in Kohat district of Khyber-Pakhtunkhwa. According to a statement issued by the oil and gas exploration company, the Saib Well-1 was drilled and tested using OGDC’s in-house expertise. The well was drilled to the depth of 5,500 metres. Based on the open hole logs data, the well test showed a flow of 1.6 million standard cubic feet of gas per day and 12 barrels per day of condensate with pressure of 190…

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This refers to displays/advertisements appearing in some leading newspapers on August 25 & 28, 2020 regarding the honourable Supreme Court judgement in the GIDC Act 2015. These advertisements have wrongfully presented the landmark Supreme Court judgement of 13th August 2020 on the GIDC Act 2015. Through these advertisements an impression is being created as if this judgement will negatively affect the economy and that there is no need to collect the outstanding Cess as the already collected amount is sufficient to complete these projects. The advertisement erroneously claims that North…

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ISLAMABAD: After the MoUs signed with the independent power producers (IPPs) installed under 1994, 2002 and 2006 power policies, the tariff of private power houses will be sliced but the sale tariff for end consumers will not tumble, as the Power Division wants to use the gains to be achieved from reduction in the IPPs tariff to cope up with the circular debt that has jacked up to over Rs2.2 trillion. Talking to The News on the power sector’s woes and forward looking strategy to rid the sector of financial…

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