Month: June 2022

CDWP approves 132KV transmission line for Gwadar

Admin

The Central Development Working Party (CDWP) has approved a 132KV transmission line from Jiwani to Gwadar. The CDWP meeting was convened under the chairmanship of Secretary Planning Syed Zafar Ali Shah, which approved 13 projects including the 132kV line for Gwadar, worth Rs34.8 billion. As per details, the project namely the Construction of 2nd Circuit Stringing of 132KV, transmission line from Jiwani to Gwadar (94km), will be completed with Rs2,322.940 million. The 2nd Circuit Stringing of 132KV will be financed through the Public Sector Development Programme (PSDP). In the FY…

Read More

Import expensive fuel or brave long outages: Nepra chief

Admin

While finalising an unprecedented Rs7.90 per unit additional fuel cost adjustment (FCA) for distribution companies (Discos) for next month, the National Electric Power Regulatory Authority (Nepra) noted on Monday that Pakistan was left with no choice but to face loadshedding or generate electricity using expensive fuel oil. At a public hearing on a petition for a Rs7.96 per unit increase in FCA for electricity consumed in May, Chairman Nepra Tauseef H Farooqui, who presided over the event, said though a formal notification would be issued later after verification of evidence,…

Read More

Economic Uncertainty Could Spark A Drop In Diesel Consumption

Admin

The oil price rally has really cooled down over the past three weeks, with oil prices declining to levels last seen prior to Russia’s invasion of Ukraine. A massive increase in interest rates by the Fed, pandemic-related lockdowns in Shanghai, slowing U.S. oil demand growth, and a historic strategic petroleum reserve release have all contributed to the selloff. That said, whereas it’s crude markets that have been hogging the limelight, the most dramatic action in global oil markets has been happening in a more hidden corner of the market: distillate…

Read More

Why Chinese Imports Of U.S. LNG Collapsed

Admin

As European LNG buyers are snapping up cargoes from the United States in a race to replace Russian pipeline deliveries, America has become a major supplier to Europe, and its sales to China have dwindled to just a few cargoes shipped so far this year. Chinese imports of LNG from the U.S. plunged by 95% between February and April compared to the same period in 2021. Meanwhile, Chinese imports of LNG from Russia jumped by 50%, according to Chinese customs data cited by The Wall Street Journal. That’s a major…

Read More

G7 leaders discuss price cap on Russian oil over Ukraine invasion

Admin

Leaders of Group of Seven (G7) nations have discussed plans to cap the price of Russian oil in order to put the squeeze on Moscow, which is benefiting from soaring energy prices, and cut off its means of financing the invasion of Ukraine. The United States has suggested a price cap decided by consuming countries, a proposal that was discussed on Sunday by the G7 leaders at a summit in the Bavarian Alps. Western countries rallied around Kyiv when Russia invaded Ukraine in February, but more than four months into…

Read More