RLNG supply to KE’s new unit: PD directed to play role in signing of pact

ISLAMAABAD: The Cabinet Committee on Energy (CCoE) has directed Petroleum Division (PD) to play its role in accordance with the relevant laws/rules in signing required agreement(s) with PLL and KE for RLNG supply to KE’s new unit while ring fencing old KE receivables issue related to indigenous gas supply, sources close to SAPM on Petroleum told Business Recorder. The decision was taken at a meeting of the CCoE held on January 18, 2021 under the chairmanship of Minister for Planning, Development and Reforms, Asad Umar. The decision of the committee…

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CCI likely to approve Census-2017 on 27th

SLAMABAD: The Council of Common Interests (CCI) is likely to approve the controversial Census-2017 at its meeting to be held on Wednesday (Jan 27) with Prime Minister Imran Khan in the chair. The PM has called the 44th meeting of the CCI to discuss various issues, including the issue of notification of Census-2017 results. The federal cabinet, after a lapse of three years, had approved the National Census with a dissenting note submitted by the Muttahida Qaumi Movement (MQM), one of the government’s allies. The MQM has been raising its…

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Power generation: Static & inefficient

Pakistan’s power sector (ex KE) generated 124 billion units in 2018. Another 124 billion in 2019. And 123 billion in 2020. You do not have to look to any other data set to get an idea how Pakistan’s economy has been in a struggling phase for the best part of 2 years. December 2020 net power generation at 7.8 billion units is only 3 percent higher year-on-year. Read that with the government’s claim that the incentive offered for incremental consumption to industries has yielded good results. As per the government,…

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Oil and Gas Development Company Limited

Oil and Gas Development Company Limited (PSX: OGDC) is the largest player in the E&P sector in the country. It has the largest portfolio of net hydrocarbon reserves in Pakistan, which includes 44 percent of oil and 37 percent of gas as of June 2020. The company contributed to 29 percent of Pakistan’s total natural gas production, and 46 percent of its oil production in FY20. Shareholding Pattern Government of Pakistan is the largest shareholder in OGDC. Its disinvested part of its shareholding in the company back in 2003. Initially…

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All Boeing planes set to fly on 100% sustainable fuels by 2030

Boeing has set an ambitious target that all of its commercial aircraft will be able to fly on 100 per cent sustainable aviation fuels by 2030, according to a statement on its website. Currently, sustainable aviation fuels are mixed in a 50/50 blend with conventional jet fuel – the maximum amount allowed under specifications. Sustainable fuels can reduce carbon dioxide emissions by up to 80 per cent, with the potential to reach up to 100 per cent, according to studies by the Air Transport Action Group, the US Department of Energy and…

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Australia PM says no timeline to achieve zero carbon emissions

Australia’s government is in no rush to sign up to a target of net zero carbon emissions by 2050, although it recognises the importance of working towards that goal, Prime Minister Scott Morrison said in an interview published on Saturday. Morrison’s conservative government, in a surprise change of policy last month, said it would achieve its 2030 carbon emissions pledge under the Paris climate agreement without counting carbon credits from over-achieving on its previous climate targets. But in an interview with The Australian newspaper, Morrison said he will not take…

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Govt selects Pak currency over dollar to pay IPPs as per initial agreement

A preliminary agreement has been reached between the government and the Independent Power Producer IPPs and IPPs have informed the Pakistan Stock Exchange PSX about it, reported 24NewsHD TV channel quoting it’s on Monday. Around two dozen IPPs, including Hubco, have signed a preliminary agreement with the government on Amended Power Purchase Agreements according to which the government will pay Rs 450 billion to IPPs. Hubco submitted details of the agreement with Central Power Purchasing Company CPPC to Pakistan Stock Exchange. Sources claimed that the Ministry of Finance will pay…

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Govt working to ensure K-Electric stake sale

The Pakistan Tehreek-e-Insaf (PTI) government is working on multiple plans to ensure sale of shares in K-Electric. Under plan A, the government is working to complete the transfer of K-Electric’s share to China’s Shanghai Electric Power, however, there are some pending issues that the Chinese company wants to settle before the transaction is complete. Earlier, Shanghai Electric Power had expressed a commitment to complete the utility company’s transaction within six months subject to resolution of issues. In a meeting chaired by the ministers for privatisation and energy, held in the…

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Open access in power market

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has recently issued its determination on the applicability of open access charges to consumers and has rejected a petition of the Central Power Purchasing Agency-Guarantee (CPPA-G) in this respect connected with wheeling charges. Buyers or consumer’s choice and competition are the basic tenets of capitalist markets. Under open access, the consumer has a choice of procuring or generating his own electricity. Open access is one of the key instruments for fostering competition, promoting new investments and power supplies, improving capacity utilisation, reducing…

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Construction and climate change – the crosscutting issues

The interface between construction activity and climate change cannot be disregarded while discussing the role and importance of both these areas in sustainability of economic development. The construction industry and environment or climate change have two-way mutual repercussions. On the one side construction is an industry that has a lot to contribute to the climate change dynamics, negatively or positively depending on the construction techniques, while on the other side climate change impacts the construction industry itself in more than one way. The first and foremost impact of construction is…

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