Month: April 2021

Punjab govt to buy electricity from private sector

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The Punjab government has decided to buy electricity from the private sector.According to the official documents, the provincial government will purchase electricity, produced from solar power, from the private firms which are currently generating 1,300 megawatts of electricity. A grid company would be set up for the distribution and transmission of the electricity after its purchase. Punjab Grid Company would purchase electricity, and it would be responsible for transmitting it to the consumers and billing. Documents tell that due to the power generated from solar energy, not only the burden…

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Pandemic economy

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LAHORE: The developed economies are exhausting their resources to minimise the impact of Covid-19 on their citizens, but they have little cash for poor nations who have to cope with Covid-19 impact on their own. At the same time the global commodity rates are on the rise. Steel and other metals prices are increasing. Global food prices registered rise for the tenth straight month. All this is happening at a time when our food import bill has reached historic high. Three years back we had a competent -though corrupt- bureaucracy.…

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Oil & Gas Middle East to introduce paywall from May

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Oil & Gas Middle East will next month introduce a paywall across its website. Readers will be able to unlock unlimited access to Oilandgasmiddleeast.com for $14.99 per month to enjoy the market-leading content we strive to create. The move is recognition of Oil & Gas Middle East’s status as an authoritative media brand for the Middle East’s upstream sector, informing industry stakeholders across the supply chain. The paywall will enable the Oil & Gas Middle East team to invest further in its content while also helping to provide a more…

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China drills deep in disputed South China Sea

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Chinese scientists on a marine research vessel used China’s home-made “Sea Bull II” drilling system to obtain a sediment core 231 metres (253 yards)long at a depth of 2,060 metres (6,760 feet), the official Xinhua news agency said. The system can help explore natural gas hydrate resources in the seabed, Xinhua added, referring to the solid ice-like crystals formed from a mixture of methane and water that are touted as a promising source of energy. It was unclear exactly where the drilling took place in the South China Sea, around…

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IMF report: SNGPL, SSGC arrears to rise by 0.6pc of GDP

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International Monetary Fund (IMF) has projected that arrears of state owned gas companies – Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company (SSGC) will rise by 0.6 percent of GDP by the end of financial year 2021-22 due to higher cost-revenue mismatch as more liquefied natural gas (LNG) has recently been diverted from the high price power sector to low price domestic users. The IMF report for second to fifth reviews prepared by a staff team of the Fund for the Executive Board’s consideration on March 24…

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