Month: April 2022

New Energy Conservation Policy to be Approved on 12th

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The Board of National Energy Efficiency and Conservation Authority (NEECA) is to approve the National Energy Efficiency and Conservation (NEEC) Policy 2022, on April 12, 2022 for onward submission to the Cabinet Committee on Energy (CCoE). Official sources told Business Recorder, first draft of the NEEC Policy 2022 was presented to the secretary, Power Division/chairman of the NEECA Board on December 3, 2021. It was advised by the chairman of the NEECA Board to share the draft NEEC Policy with all the concerned ministries, entities and private sector stakeholders at…

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Pakistan 5th most vulnerable country to climate change, reveals Germanwatch report

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The Global Climate Risk Index has placed Pakistan on the fifth spot on the list of countries most vulnerable to climate change in its annual report for 2020, which was released by the think-tank Germanwatch on Wednesday. According to the report, Pakistan lost 9,989 lives, suffered economic losses worth $3.8 billion and witnessed 152 extreme weather events from 1999 to 2018 and based on this data, the think-tank has concluded that Pakistan’s vulnerability to climate change is increasing. The data also indicates that the government, as well as the world,…

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Water Crisis on Horizon as Snow Melts at Snail’s Pace

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Despite an early onset of summer in mid-March and April getting hotter than usual, the snow melting process in mountainous and hilly areas has not picked up pace, putting profound pressure on the national water supplies and making the planners quite nervous. For the last 10 days, national water supplies have dipped substantially below not only last year’s levels, but average supplies of the last five or 10 years for the day, forcing Pakistan to start its Kharif season with close to a 40 per cent shortage in both of…

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Russian Oil Continues To Flow To India And China

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It has been exactly six weeks since Russia invaded Ukraine, with no end in sight to one of humanity’s biggest existential crises in modern times. In response to Russia’s unprovoked and unjustified war, the United States and the West have hit the rogue nation with a plethora of sanctions, with the latest announced just days ago mostly targeting Russia’s financial sector. But so far, Russia’s pivotal energy sector has largely been spared. With the exception of Lithuania and Poland as well as self-sanctioning by refiners and bankers, no country has…

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Iraq can ensure oil exports of more than 3.3 million bpd from southern terminals

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Iraq can ensure crude oil exports of more than 3.3 million barrels per day from its southern terminals, as the country looks to leverage higher energy prices to support its economy, Iraq’s oil minister said on Friday. The second-largest producer of oil in Opec, Iraq is making an effort to maximise its oil exports and revenue, and the government is supporting these initiatives, Ihsan Abdul-Jabbar told the Iraqi News Agency. “The expected financial returns according to the scenarios presented by international energy agencies and researchers will be in excess of…

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