New Mexico, the Land of Enchantment, was concerned when Biden’s pause on oil and gas drilling leases took hold, but six months into the new administration the state’s oil industry continues to go from strength to strength. After uncertainty about political decisions concerning oil and gas, following a year of low demand that drove down both oil prices and production…
Read More
The government has released 100 percent funds for various water resources, National Transmission and Despatch Company (NTDC) and Pakistan Electric Power Company (PEPCO) projects allocated under the Public Sector Development Programme (PSDP 2020-21). According to the data of Planning Commission, an amount of Rs71,734.046 million was allocated for various water resource sectors during the last fiscal year. Out of total…
Read More
The government has decided to amend Pakistan Penal Code (PPC) Act 1860 with a view to nabbing consumers allegedly involved in electricity theft through an order of a court on the application of not below grade 17 officer. However, the amendment is being opposed by parliamentarians on grounds that with this amendment the government intends to hide its poor performance…
Read More
The utilisation of funds stood at 82 percent against the releases in Sindh during the financial year ended on June 30, 2021 under the Public Sector Development Programme (PSDP). According to a summary of the provincial government, the release of amount and its utilisation also includes the provincial and district Annual Development Programmes and federal grants and foreign assistance for…
Read More
Pakistan and Uzbekistan on Wednesday agreed to finalise bilateral Preferential Trade Agreement (PTA) within three months to further boost bilateral trade volume. At the 6th meeting of the Uzbek-Pakistani Intergovernmental Commission on Trade-Economic and Scientific-Technical Cooperation (IGC) held in Tashkent, both sides agreed to form joint working groups on agriculture, information technology, education and mineral sectors to boost cooperation, said…
Read More
German Ambassador to Pakistan Bernhard Schlangheck called on Federal Minister for Energy Muhammad Hammad Azhar on Wednesday. The federal minister while appreciating the recent signing of Implementation Agreement (IA) for GIZ Pakistan’s Renewable Energy and Energy Efficiency II (REEE II) 8.1 million euros project, said that the cooperation between Pakistan and Germany in the energy sector has witnessed considerable growth.…
Read More
The government is making all-out efforts to increase the share of renewable energy in the electricity generation by 30 per cent in the next 10 years, a senior government official said on Wednesday. Talking to German Ambassador to Pakistan Bernhard Schlangheck, who called on him, Federal Minister for Energy Hammad Azhar appreciated the recent signing of the implementation agreement for GIZ Pakistan’s…
Read More
In an alarming development, the local gas production in the country has tumbled by 10 per cent in 2019-20 to 2,138 BCFD (billion cubic feet gas per day) from 2.379 BCFD last year (2018-19) whereas the gas consumption has declined by 6 per cent to 3,714 MMCFD from 3,969 MMCFD during the same period. According to the OGRA’s State of…
Read More
The consumption of petroleum products in the power sector declined 43 per cent, whereas the demand and supply gap between gas production and consumption is likely to increase three times in the next 10 years. According to a report “State of the Regulated Petroleum Industry 2019/20”, released by the Oil and Gas Regulatory Authority (Ogra), the oil sector of the…
Read More
Pakistan will not extend to Russia the sovereign guarantee against 26 percent shares in Pakistan Stream Gas Pipeline Project (PSGP). However, it has extended assurances to Russia which are enshrined in the amended Inter-Government Agreement (IGA). Pakistan will be having 74 percent shareholding and Russia 26 percent. This was the essence of the third day of talks between Pakistan and…
Read More
