Year: 2021

The neglected institutional aspect of energy policies in Pakistan

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Starting with the 1994 private power policy, Pakistan has seen a streak of energy policies, introduced at regular intervals by successive governments in their bid to fuel the growing economy and serve the demands of the burgeoning population. Most of these policies, however, failed to deliver their intended outcomes during implementation. Often, these policies have also led to serious unintended consequences such as excess capacity, suppressed demand, piling up of circular debt, relocating of local businesses to other countries, and raising fuel and electricity prices beyond the reach of common…

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ADB reaffirms support for energy sector reforms in Pakistan

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ISLAMABAD: The Asian Development Bank (ADB) has reaffirmed its support for energy sector reforms in Pakistan. Special Assistant to Prime Minister on Petroleum Nadeem Babar on Tuesday held a virtual meeting with the ADB team in Manila together with ADB Country Director Xiaohong Yang and the energy team, said a statement issued by the Petroleum Division. The meeting was aimed to discuss the progress on the reform programme in the petroleum sector of Pakistan. The forum was informed that energy sector reforms were part of the government’s policy to improve energy…

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Hedge funds bet on oil’s ‘big comeback’ after pandemic hobbles producers

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Such limitations on supply would push prices to multi-year highs and keep them there for two years or more, several hedge funds said. The view is a reversal for hedge funds, which shorted the oil sector in the lead-up to global shutdowns, landing energy focused hedge funds gains of 26.8% in 2020, according to data from eVestment. By virtue of their fast-moving strategies, hedge funds are quick to spot new trends. Global oil benchmark Brent has jumped 59% since early November when news of successful vaccines emerged, after COVID-19 travel…

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President Biden Freezes New Oil and Gas Leases and Pauses Permits on Federal Lands and Offshore

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On his first full day in office, President Biden indicated that the moderate Joe Biden we were all expecting might not be appearing on oil and gas issues and his administration’s energy policies would be informed by the more progressive wing of the Democratic Party. On January 21, an acting Secretary of the Interior issued Order 3395, which imposes a 60-day pause on the issuance of new leases and permits for oil and gas drilling on federal lands and offshore, without being approved by one of nine senior Department of…

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Pakistan to produce energy from waste

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The concept of utilising waste to generate energy might soon be introduced in Pakistan and the ministries concerned would be educated about the technology, said Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Nasser Hyatt Maggo. In a meeting with a delegation of Pakistan Plastic Manufacturers Association on Tuesday, he said Chinese innovation and introduction of waste recycling was gaining traction in Pakistan. “Pakistan’s exports are concentrated in only a few products and a handful of markets,” he said, stressing that the country should focus on non-traditional goods. The…

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