Month: April 2022

27 power plants out of order, Shehbaz told

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Prime Minister Shehbaz Sharif was informed on Thursday that 27 power plants having a combined generation capacity of more than 7,000 megawatts are out of order due to technical problems or fuel shortages at a time when citizens are faced with power outages across the country. The Ministry of Energy presented the list these power plants during the briefing and put the blame on the lack of direction and political support for fuel arrangements. It was explained that nine major power plants with a generation capacity of 3,535MW were not…

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PAEC Likely to Default on Loan Repayment as Nuclear Plants Face Financial Crisis

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According to a Business Recorder report, operations of nuclear power plants and repayment of foreign/local debts have become difficult in the absence of required payment by the Central Power Purchasing Agency – Guaranteed (CPPA-G). As per the report, the Strategic Plans Division (SPD) has urged the concerned stakeholders to hold an inter-ministerial meeting to discuss and address the evolving situation. Nuclear power plants are being managed under the National Command Authority-approved Nuclear Power Vision 2050, which envisages the generation of over 40,000 MW of electricity by 2050. So far, six…

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Diesel set to rise above Rs200

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The price of diesel is set to cross Rs200 per litre for the first time in history on the back of soaring crude oil prices in the global market and sharp depreciation of the rupee against theUS dollar. In the second fortnight of current month starting April 16, the newly formed government would be required to either jack up the price of diesel by Rs60.54 per litre or enhance subsidy to maintain the existing price, officials said. If the leadership chooses to increase the price, the per-litre diesel cost will…

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Oil Traders Selling Pricey Russian Crude Chafe Indian Refiners

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Processors in the South Asian nation recently bought millions of barrels of Urals crude via open tenders, with some supplies going at a premium of $1 a barrel to London’s Dated Brent benchmark on a delivered basis, said traders. That compares with discounts of more than $30 a barrel for the same grade in Europe. Officials at the Indian refineries said they don’t understand why they’re not receiving offers of discounts anywhere near what they’re seeing in Europe when they’ve been vocally supportive of continuing to import Russian crude. The…

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China And The U.S. Are Battling For Influence Over Iraqi Oil

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Like the first sparrow of spring, Iraq’s reversal of all promises made to the U.S. in order to secure another waiver to import electricity and gas from still-sanctioned Iran is a regular and much-anticipated feature of the oil year for seasoned market watchers. This year has been no different. Some have interpreted the 120-day waiver, which is the equal longest granted to Iraq in years, as a tangential good-faith gesture to Iran by the U.S. as they attempt to agree on a new iteration of the Joint Comprehensive Plan of…

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