The country’s fuel oil consumption declined substantially in the last five years following a push by the government to shut power plants running on fuel oil. The commodity has been costlier compared with electricity produced using LNG and coal, draining foreign exchange reserves and boosting the cost of electricity. Fuel oil consumption in the fiscal year ended June 30, 2017,…
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Pakistan State Oil (PSO) is reported to have canceled one LNG term cargo from Qatar for September and has instead bought a spot cargo at a higher price with an impact of $31 million on RLNG consumers. The state-owned company, which imports five term cargoes every month, from Qatar under 15-year agreement at price of 13.37 percent of the Brent…
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markets that investment in gas importing, distribution and power production assets will lead to stranded assets and lost wealth, according to analysis from IEEFA. IEEFA warned in January 2021 that over US$50 billion in gas power projects and liquefied natural gas (LNG) import facilities were at risk of cancellation in Bangladesh, Pakistan and Vietnam, as gas-fired electricity became unaffordable in…
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Thar dwellers are facing hardship because of the adverse impacts of mega coal projects in the region, dealing with enforced shifts in land use, livelihood, and socio-ecological patterns, a study showed on Wednesday. The research study was conducted by Rural Development Policy Institute (RDPI) and launched by Alliance for Climate Justice and Clean Energy (ACJCE), a civil society group endeavoring…
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The country’s energy sector circular debt has increased by over 2000 per cent to Rs 2.280 trillion in FY 2020-21 from Rs 105 billion in 2008 due to variety of factors including Transmission and Distribution (T&D) losses. This information was shared by the Power Division with the Senate Standing Committee on Power, chaired by Senator Saifullah Abro, soon after a…
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Lahore Chamber of Commerce and Industry (LCCI) president Mian Tariq Misbah has welcomed the execution of renewable energy projects under the China-Pakistan Economic Corridor (CPEC) and said that the hydel power projects were necessary to cope with the future energy and water challenges. “The CPEC has brought renewable energy projects and improvement of the transmission system. These are good for…
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In contrast to government hopes for a strong start to the new fiscal year, the large-scale manufacturing (LSM) sector contracted 4.9% in July 2021 over the preceding month. Three reporting sources – the Oil Companies Advisory Committee (OCAC), the federal Ministry of Industries and the Provincial Bureaus of Statistics – reported an overall negative growth in the production by industries…
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The export-oriented industries of Karachi have expressed annoyance due to sheer discrimination and dubious conduct on the part of the. The ministry disregarded the summary approved by the Economic Coordination Committee (ECC) of the Cabinet, which has uniformly approved regasified liquefied natural gas (RLNG) tariff at $6.5/MMBTU all inclusive to the export-oriented sectors during the financial year 2021/22 to apply…
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K-Electric’s recent submission of its financial results to the PSX reported a profit of PKR 11.9 billion, a significant improvement from the loss of PKR 2.9 billion reported in the previous fiscal year. In itself, the number will have us believe that the company’s financial position is remarkable, but a comparison with other private sector entities shows that this is…
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The rising prices of the Liquefied Petroleum Gas (LPG) has added to woes for the people who have urged the authorities concerned to take effective measures for bringing down the commodity at an affordable level. “The prices of edibles are already high and the unbridled rising trend in LPG prices has aggravated the problems further for people especially living in…
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