America’s stored natural gas reserves are lower than normal headed into the winter heating season, and gas prices have increased by about 150 percent compared to last year. A boom in LNG exports is part of the reason: thanks to years of investment in new liquefaction infrastructure, about 10 percent of the nation’s natural gas production is now exported in…
Read More
Chinese coal futures delivered their biggest weekly rise on record, driven by a worsening energy crisis that threatens to pile further pressure on the country’s property developers as they grapple with looming debt payments. Thermal coal futures traded on the Zhengzhou Commodity Exchange rose 8 per cent on Friday to Rmb1,692 ($263) a tonne, taking them 34 per cent higher…
Read More
he Energy Information Administration projected that renewable resources—particularly solar and wind—will be the largest contributor to the growth in global electricity generation through 2050. It cautioned, however, that certain regions will still mainly use coal resources for electricity generation. The projection are part of EIA’s International Energy Outlook 2021. It said the absence of regional carbon policies or regulations along with…
Read More
Minister for Energy Hammad Azhar on Friday said the government and the people were bearing the burden of energy sector circular debt due to expensive power generation contracts signed by previous governments. Addressing a press conference flanked by Minister of State for Information and Broadcasting Farrukh Habib in Islamabad, he said a major component of circular debt was the capacity…
Read More
Since the establishment of the China-Pakistan Economic Corridor (CPEC), the government of China has brought $25.4 billion investment to Pakistan with more than 70,000 jobs, said Chinese Ambassador Nong Rong, while addressing the 4th Exchange Mechanism Conference under China-Pakistan Economic Corridor (CPEC) Consortium of Universities, Gwadar Pro reported on Friday. According to Nong Rong, for six consecutive years China has…
Read More
The Water and Power Development Authority (Wapda) is constructing 10 projects in water and hydropower sectors under the ‘Decade of Dams’ vision which will achieve completion in a phase-wise manner from 2023 to 2029, said Wapda Chairman Muzammil Hussain. Speaking at the University of Agriculture, Faisalabad on Friday, the official reaffirmed the authority’s commitment to water, food and energy security…
Read More
Syed Khalid Siraj Subhani has been given the acting charge of Managing Director (MD) and Chief Executive Officer (CEO) of the Oil and Gas Development Company Limited (OGDCL), following the resignation of the company’s incumbent MD/CEO Shahid Salim Khan. The Board of Directors of Oil and Gas Development Company Limited (OGDCL) in its 240th meeting held on October 14, 2021,…
Read More
National Electric Power Regulatory Authority (Nepra) Chairman Tauseef H. Farooqi said on Friday the Competitive Trading Bilateral Contract Market (CTBCM) will be rolled out in April next year. Addressing a webinar on the future of energy organised by Nutshell Group, Mr Farooqi said the fact that the government is the only buyer of electricity from independent power producers and generation…
Read More
In a major move to revive inflows from the international lending agencies — IMF and the World Bank — the government on Friday announced a countrywide uniform increase in base electricity tariff and a moratorium on new gas connections in all ongoing schemes. Addressing a news conference, Energy Minister Hammad Azhar said the decision to increase the base power tariff…
Read More
The federal government drew the ire of its political rivals on Saturday after it raised the price of petrol by Rs10.49 per litre and that of high speed diesel (HSD) by Rs12.44 per litre. According to a notification issued by the Finance Division, the new price of petrol, effective from Oct 16 (today), is Rs137.79 per litre while high speed…
Read More
