Day: September 8, 2022

Oil Slides to Seven-Month Lows on Recession Fears

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Brent crude futures were down $4.12, or 4.4 percent, at $88.71 a barrel by 12:43 p.m. EDT (1543 GMT), touching their lowest since February 3 and falling below $90 a barrel for the first since February 8. US West Texas Intermediate crude fell by $4.29, or 4.9 percent, to $82.46, reaching its lowest since January 24 as recession fears moved back into the spotlight. Oil prices briefly climbed on Wednesday as Russia´s President Vladimir Putin said his country would stop delivering oil and gas supplies to countries that introduce price…

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Geopolitics of Energy Transition: A Winding Road of Renewable Energy in Asia

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wind energy

Conceptually, energy transition transforms energy sources from fossil fuel-based to clean energy that does not produce carbon emissions. Fossil energy has been used for a long time and has created significant greenhouse gas emissions worldwide. One clean energy source in the world is renewable energy, which is more sustainable than fossil fuels. Renewable energy is more efficient and effective than fossil energy. In line with global ambitions, countries in the world work together to overcome the problem of climate change and towards net zero emission for all sectors, including energy.…

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KE Consumers: PD suggests Rs1.52 Per Unit Surcharge

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The Power Division has proposed imposition of surcharge at Rs 1.52 per unit on consumers of K-Electric (KE) to recover an amount of Rs 204 billion as pending Quarterly Tariff Adjustments (QTAs) in 12 months, well-informed sources told Business Recorder. According to available details background of the case was discussed by the ECC in its meeting March 26, 2020 and September 21, 2021. The ECC in both the meetings discussed and decided that the Nepra may work out a mechanism to recover the amounts due on account of pending quarterly tariff…

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Every new generation capacity in Pakistan will be installed soley on domestic sources” remarked Federal minister for power Engr. Khurram Dastgir Khan in his key note speech.

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Minister for Energy made these remarks at the unveiling of report on “Overview of Pakistan’s power sector and its future outlook” and forum on Achievements of CPEC Power Projects. Commending the efforts of the forum he appreciated the timely research initiative as valuable in trying to find a roadmap for steering the country out of this difficult energy situation. The present government is focused on power generation based on domestic sources that are hydel, solar, Thar coal,wind and nuclear. Minister for Energy took the opportunity to highlight CPEC’s significance and…

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UN Secretary-General’s Solidarity Visit to Pakistan on 9-10 September 2022

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UN Secretary-General António Guterres will visit Pakistan on 9-10 September to express solidarity with the Government and people of Pakistan braving a colossal climate-induced natural disaster caused by unprecedented rains and floods across the country. During the visit, Secretary General Guterres will have meetings with the Pakistani leadership and senior officials to exchange views on the national and global response to this catastrophe caused by climate change. The Secretary-General will travel to areas most impacted by the climate catastrophe. He will interact with displaced families and first responders in the…

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