Six New Projects In Petroleum Sector To Be Executed In FY 2021-22

As many as six new projects worth Rs1,775.857 million will be executed in petroleum sector during the current fiscal year 2021-22 in order to achieve self-sufficiency in the energy sector. According to official documents, the government has allocated Rs40 million in the Public Sector Development Programme (PSDP 2021-22) for a new project, under which development of Strategic Underground Gas Storage (SUGS), hiring of consultancy services for bankable feasibility study and transaction advisory services (PC-II) would be carried out. Similarly, a sum of Rs30 million has been specified for Legal Consultancy…

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PLL ‘caused loss of Rs25b’ in LNG imports

The government has suffered a loss of over Rs25 billion because of the sate-run Pakistan LNG Limited’s (PLL) failure in making timely arrangement for the import of the commodity, the Public Accounts Committee (PAC) was informed on Wednesday. During the last few months, the PLL had cancelled cargoes and then awarded them to LNG traders after a few days at higher rates. The PAC meeting, held under the chairmanship of Rana Tanveer Hussain at the Parliament House, was further told that the PLL had failed to arrange LNG imports when…

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PAC concerned at LNG purchase, high fertiliser cost

The Public Accounts Committee has expressed reservations about non-transparent LNG purchase and high cost of fertiliser. A committee meeting held at the Parliament House Wednesday with Rana Tanveer Hussain in the chair examined audit objections of the petroleum ministry for the financial year 2020-21. PAC Chairman Rana Tanveer Hussain said that there were reports about non-transparency in LNG purchase but the ministry had not given any response in this regard. He said that delay in all other decisions, including purchase of LNG, was causing problems. He said that the ministry…

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CCS Technologies Forecast to Cut LNG Project Carbon Emissions by 25%

Senior analyst Daniel Toleman said the main options for reducing LNG emissions include CCS, carbon offsets, methane leakage reduction, electrification, as well as renewables and batteries. However, CCS development could have a “material impact” on reducing LNG emissions, he said. “The good news is that LNG players are well placed to lead the CCS charge, with strong balance sheets, operational capability and reservoir expertise,” Toleman said. “There are also economic incentives for pursuing CCS as reducing emissions mitigates against a carbon tax, helps future-proof the asset and can offer pricing…

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CCoE approves IGCEP with major focus on clean energy

Islamabad: Cabinet committee on energy (CCoE) on Thursday approved the Indicative Generation Capacity Expansion Plan – known as IGCEP 2021-30 which puts a major focus on clean energy (hydel, Solar, Wind, Nuclear) by the year 2030. It also puts emphasis on generating new electricity projects with the least cost basis. IGCEP envisions the commissioning of a portfolio of new generation projects including many hydropower projects, Thar coal-based projects, K-3 nuclear power plant, and over 4,000MW of solar and wind-based renewable energy projects. The Cabinet Committee on Energy (CCOE) held a…

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Galiyat gets solar-powered washrooms

In a new initiative of the Khyber-Pakhtunkhwa tourism department, pre-fab solar-powered washrooms for tourists have been set up at five different sites in Galiyat. These washrooms have separate units for males and females. The project was designed and installed by KITE. Five different sites have been chosen for the project. All units are operational. This development comes in a move by Galiyat Development Authority to facilitate tourists. According to a KITE official familiar with the matter, tourists faced a lot of problems as no clean public bathrooms were available for…

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Access demanded to pine forests to harvest nuts

Tribesmen hailing from Datta Khel, Tehsil of North Waziristan tribal district of Khyber-Pakhtunkhwa have demanded of the government to allow them harvest the pine nuts worth billions of rupees. They claimed that the crop was almost ready and it was their only source of income but still they were not allowed to go to their area despite their repeated demands. Hundreds of the local residents staged a protest demonstration outside Miranshah Press Club for the second time in a week on Wednesday. “Pine nuts are our only source of income…

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Govt seeks to cut power subsidies

The Monetary and Fiscal Policies Coordination Board on Wednesday agreed to reduce electricity subsidies by Rs170 billion and also discussed the possibility of scaling back grants for subjects that fall in provincial domains. The board meeting also discussed the southbound movement of the rupee and its future outlook, which the State Bank of Pakistan (SBP) governor described stable, sources told The Express Tribune after the meeting. The meeting was held the day Pak rupee lost another Rs1.08 value against the US dollar and closed at 166.28 – the lowest level…

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Does Pakistan need electric vehicles?

Electric Vehicles (EVs) have already caught the interest of large populations of the developed countries and the Pakistani public as well awaits with excitement. Tesla has surpassed all international car manufacturing companies in terms of market capitalisation. The financial incentive in the form of hard cash given by the western governments to the consumers has been the key factor in the rapid adoption of EVs. Despite these incentives, the road to achieving full conversion to EVs from conventional petrol-based vehicles is going to be a long one. The main limitations…

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