Month: March 2021

Power Division, NTDC BoD lock horns over selection of MD

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ISLAMABAD: Power Division and Board of Directors (BoD) of National Transmission and Despatch Company (NTDC) are said to have locked horns on the selection of Managing Director of the Company, sources close to MD NTDC told Business Recorder. The Board wants to appoint Azaz Ahmed as Managing Director of NTDC who is demanding a salary package of $ 15,000 per month but the Power Division pointed out that according to the Rules, the Board has to recommend three names not one; and reportedly favours a member of the Federal Public…

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Contract Agreement Signed for the Construction of 300 MW Balakot Hydropower Project

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As an important development in energy sector, the Khyber Pakhtunkhwa* government has signed contract agreement with the Chinese construction company for the construction of 300 MW Balakot Hydro Power Project, the biggest ever project of hydro power generation under the provincial government. The 300 mega watt power project would be constructed with an estimated cost of Rs. 85.00 billion in a period of six years with the financial assistance of Asian Development Bank. A ceremony to this effect was held here on Tuesday with Chief Minister Khyber Pakhtunkhwa Mahmood Khan…

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Rystad energy predicts record recovery for Offshore Oil & Gas Projects

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Commitments for offshore Oil and Gas projects are expected to not only recover going forward, but also reach a new record in the five-year period toward 2025, according to Rystad Energy. The energy research firm has defined in its analysis a project as ‘committed’ when more than 25 percent of its overall greenfield capital expenditure (capex) is awarded through contracts. Offshore oil and gas development is not only set to recover from the pandemic shock to prices and demand, which forced operators to slash development expenditures and delay projects. It is…

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Space-starved Singapore Builds Floating Solar Farms In Climate Fight

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Singapore, March 7 (APP – UrduPoint / Pakistan Point News – 7th Mar, 2021 ) :Thousands of panels glinting in the sun stretch into the sea off Singapore, part of the land-scarce city-state’s push to build floating solar farms to cut greenhouse gas emissions. It may be one of the world‘s smallest countries, but the prosperous financial hub is among the biggest per capita carbon dioxide emitters in Asia. And while authorities have been pushing to change that, renewable energy is a challenge in a country with no rivers for hydro-electricity and where the wind is not strong enough…

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Saudi oil port and Aramco residential area targeted by drone, missile

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RIYADH: A major oil port and Aramco residential area were attacked with a drone and ballistic missile in eastern Saudi Arabia on Sunday.A “petroleum tank farm” at Ras Tanura Port, one of the largest oil shipping ports in the world, was attacked with a drone in the morning, the energy ministry said. The drone was coming from the direction of the sea.In the evening, shrapnel from a ballistic missile fell near Saudi Aramco’s residential area in Dhahran where thousands of the company’s local and international employees and their families live.No…

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