WB has messed up country’s energy sector by backing gas: experts

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Speakers at a seminar on Wednesday criticised the World Bank for messing up Pakistan’s energy sector by supporting fossil gas and financing LNG infrastructure in recent years. Organised by the Alliance for Climate Justice and Clean Energy, the seminar participants unanimously called the country’s shift to fossil gas a costly mistake that has contributed to disproportionately high reliance on imported…

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WB has messed up country’s energy sector by backing gas: experts

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Speakers at a seminar on Wednesday criticised the World Bank for messing up Pakistan’s energy sector by supporting fossil gas and financing LNG infrastructure in recent years. Organised by the Alliance for Climate Justice and Clean Energy, the seminar participants unanimously called the country’s shift to fossil gas a costly mistake that has contributed to disproportionately high reliance on imported…

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Experts oppose expansion of gas, LNG infrastructure in Pakistan

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International and local experts raised alarm on expansion of gas and LNG infrastructure in Pakistan in a webinar on Wednesday, saying it would pose threat to Paris Agreement goals and lead to a climate change crisis in the country. Discussing findings of a research study by Recourse, a Netherlands-based non-profit organisation, experts urged the World Bank and International Finance Corporation…

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Russian Oil Disappears as Tankers Go Dark Near Azores

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Unseen ship-to-ship transfers take place in mid-Atlantic Some eastbound cargoes are also starting to vanish mid-voyage By Julian LeeJune 22, 2022, 7:41 PM GMT+5 Russian oil cargoes are increasingly disappearing from view in the Atlantic Ocean as sanctions against the nation’s exports ratchet up. In the past 10 days, at least three tankers have vanished from vessel-tracking systems as they…

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1Q of FY 2021-22: KE allowed to recover QTA to the tune of Re0.57/unit from consumers

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The government has allowed K-Electric (KE) to recover Quarterly Tariff Adjustment (QTA) of first quarter of FY 2021-22 to the tune of Re 0.57 per unit from KE consumers, in the first three months of next fiscal year, well informed sources told Business Recorder. Under section 31(7) of the Nepra Act, Nepra, in its determinations for Discos of May 9,…

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Local POL production increase 0.33pc in 10 months

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Overall production of petroleum commodities has witnessed an increase of 0.33pc during the first ten months of fiscal year 2021-22 as compared to corresponding period of fiscal year 2020-21. The Petroleum, Oil and Lubricants (POL) products that showed positive growth include Jet Fuel Oil, the production increased by 27.41pc during the period under review, Pakistan Bureau of Statistics (PBS) reported.…

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Monsoon rain spells to improve water levels at major dams

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As the fresh monsoon rains are likely to increase water level of major reservoirs, the Chairman Federal Flood Commission advised on Wednesday all the dams operating authorities to exercise extra vigilance of the reservoirs’ operation. Talking to PTV News, Chairman Federal Flood Commission Ahmed Kamal said that the overall water storage capacity at major reservoirs of the country had reached…

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CDA to prepare plan to prevent pollution, environment degradation

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Capital Development Authority (CDA) would formulate an environmental management plan (EMP) to prevent pollution and environmental degradation in the federal capital. “The plan based on tree plantation, solid waste management and a green waste management will be prepared for the next 30 years,” a senior official of CDA told APP. He said the decision to this effect was came during…

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PM steps in to stave off closure of refineries

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Prime Minister Shehbaz Sharif has stressed that the government will take all-out measures to save the oil refineries from the looming shutdown due to the difficulty in opening Letters of Credit (LCs) and assured the industry of payments for oil import. The Petroleum Division took up the matter with PM Sharif, pointing out that international banks were not endorsing the…

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