Month: May 2022

More LNG to improve power supply: minister

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ork is in full swing on an emergency basis for the rehabilitation of the power sector and to cope with the current situation being faced by the sector. The LNG supply will not only improve the power supply in the country but also help the government overcome the power crisis. Federal Minister for Energy (Power Division) Khurram Dastgir said this during his visit to the Faisalabad Electric Supply Company (Fesco) Headquarters on Friday. He said that after the supply of LNG and furnace oil from the Ministry of Petroleum, more…

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NEPRA Holds Awareness Session On Workplace Stress Management

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As part of its “Power with Safety” drive, National Electric Power Regulatory Authority (NEPRA) on Friday organized a webinar on “Workplace Stress Management” in collaboration with Lahore University of Management Sciences (LUMS) and K-Electric. Jawad Syed, Professor of LUMS and Muhammad Taimoor Khan, head of HSE, K-Electric shared their ideas and skills to control stress, said a press release. Chairman NEPRA, Tauseef H. Farooqi in his opening remarks, highlighted the importance of stress management given the very challenging nature of jobs in power sector and hoped that this awareness session…

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Key appointments: NTDC BoD seems to be in intriguing hurriedness

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With the change of Secretary Power Division and posting out of an Additional Secretary, the Board of Directors (BoD) of National Transmission & Dispatch Company (NTDC) seems to be in an intriguing hurriedness to announce key appointments of two deputy managing directors (DMDs) and rushing them for assumption of charge, said sources. According to the sources, the selection process for DMD Asset Development & Maintenance (AD&M) was initiated in Jan 2021 and interviews were conducted in March 2021. However, the result was withheld and now after almost one year 3…

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China Gobbles Up Any Spare Oil Barrels To Boost Inventories

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China added 2 million bpd to its crude oil inventories last month, Reuters’ Clyde Russell reported today, citing calculations based on official data. This means the world’s largest oil importer was buying more from abroad, although Russell noted that these purchases were most likely made months earlier, before Russia’s invasion of Ukraine in late February. Imports of crude in China averaged 10.47 million barrels daily, Russell noted, adding that local production was estimated at 4.14 million barrels. This meant a total supply of over 14 million bpd. Yet refinery run rates averaged…

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Russian Oil Revenues Soar Despite Sanctions

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With the EIA reporting an almost 5-million-barrel stock draw in gasoline over the week ending May 13, with inventories dropping to levels last seen in December and completely ignoring the seasonal build-up trend, gasoline has become the talk of the US market. This week brought a long-anticipated breakthrough as even the last states to see gasoline prices below $4 per gallon (Georgia, Kansas, and Oklahoma) have surpassed that threshold and every single US state now sees gasoline prices above the WTI contract. At the same time, the backwardation in the…

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