The federal government has announced that it will have to hike the power and gas tariffs in the country in a phased manner in order to enable gas companies to recover their receivables in the next four to five years. “The previous [PML-N] government did not allow an increase in the gas tariff which resulted in an increase in the shortfall of the gas companies – Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC) – by Rs192 billion. “The companies will now be allowed to…
Read MoreYear: 2020
Hydropower plants benefit rural areas of Pakistan
Chinese company Chongqing Savvy built more than 13 small, mini and micro hydropower plants in Pakistan as of 2019. Out of this, seven have finished installation and trial run and started generating power in Gilgit. The remaining eight plants are being installed in Khyber-Pakhtunkhwa (K-P). These small, mini and micro hydropower plants have delivered tangible benefits for the well-being of local people in areas which earlier lacked access to electricity. Chongqing Savvy Industries CEO George Zhou highlighted that power plants such as these could help electrify rural areas which would…
Read MoreGovernment’s roadmap to fix the power sector: belated but promising
The new Special Assistant to Prime Minister (SAPM) on Power, Tabish Gauhar, has recently made public his roadmap for resolving the major issues of the country’s power sector. It’s a welcome step asit reflects his keen and objectivedesire towards handling these serious issues. His insight and grasp on these issues and his ideas to resolve them also come as a breath of fresh air as the nation has been getting tired of hearing the oft-repeated and run-of-the-mill solutions focusing mainly on reducing losses and improving revenue recovery in the DISCOs.…
Read MoreOil Tanker Hit By Mine Explosion Near Saudi Arabia
An oil tanker was damaged in the Red Sea near Saudi Arabia after a mine exploded on Wednesday, the Associated Press reported, citing the tanker’s operator and a maritime security company. The MT Agrari oil tanker, managed by a Greek company and flying a Maltese flag, was damaged by a mine off the Saudi city of Shuqaiq near Yemen. “Their vessel was attacked by an unknown source,” the firm operating the MT Agrari said in a statement carried by AP. “The Agrari was struck about 1 meter above the waterline…
Read MoreRig Count Rise Fails To Slow The Oil Price Rally
Baker Hughes reported on Wednesday that the number of oil rigs in the United States rose by 10 to 241, resuming its climb after a one-week decline last week. The total number of active oil and gas rigs increased for the week by 10, with oil rigs increasing by 10 and gas rigs rising by 1. Miscellaneous rigs fell by 1 rig. Total oil and gas rigs in the United States are now down by 482 compared to this time last year. The EIA’s estimate for oil production in the…
Read More