Not many saw that coming. Not even the traditionally most bullish takers on oil market. Observers have termed the latest moved by Saudi led Opec Plus cartel nothing short of a slap on Biden administration. Saudi Arabia and Russia have got uncomfortably close for the West’s likings, especially as the US made attempts to persuade the Kingdom to stay clear…
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When choosing a solar power plant, individuals and businesses pay the most attention to its power – after all, this will determine how much electricity will be produced. Other equipment, systems and sensors that allow monitoring and analysis of the operation of the power plant are often underestimated. But they shouldn’t be: the solar power plant will be used for…
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The Strategic Petroleum Reserve’s (SPR) oil is sold competitively when the President of the United States of America finds, pursuant to the conditions set forth in the Energy Policy and Conservation Act (EPCA), that a sale is required. In the past, oil resources were withdrawn from the SPR to meet domestic oil requirements – such as Emergency Drawdowns, Non-Emergency Sales, SPR Modernization…
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Prime Minister Shehbaz Sharif said on Monday that cheaper energy production from Thar coalfields would be a game changer for national development. Speaking at the inauguration of the commercial operations of the second phase of coal mining by Sindh Engro Coal Mining Company (SECMC), the prime minister said the Thar coal project would help the government save up to $6…
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The Sindh High Court on Monday extended its earlier order to restrain the K-Electric from collecting the Municipal Utility Charges and Taxes (MUCT) through electricity bill till Oct 26. A division bench headed by Justice Syed Hasan Azhar Rizvi also appointed two senior lawyers as amici curiae to assist the court on the subject issue. Karachi Administrator Murtaza Wahab was…
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National Electric Power Regulatory Authority (Nepra) is to protect interest of both net metering consumers, as well as, remaining non net metering 35 million consumers across the country. Well informed sources in Nepra told Business Recorder that the number of net metering consumers at present is around 28,000. The excess units delivered by net metering consumers in the grid in August 2022…
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The government and the opposition in the Senate Monday passed a rare unanimous resolution for abolition of monopoly in the power sector and evolving a mechanism to help generate and provide low-cost electricity to consumers. Both sides expressed deep concern over the continuously increasing power tariff and identified monopoly “mafias” as the main hurdle to going for cheaper technology for…
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To manage external financing requirements of $34 billion, Pakistan will explore options to secure debt rescheduling from bilateral non-Paris Club countries, and optimise programme loans and budgetary support from multilateral creditors during the current fiscal year. Besides, Islamabad will also request the IMF to provide upfront provisions for releasing tranches under the existing Extended Fund Facility (EFF). The bilateral donors…
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The industrial power tariff relief package for incremental consumption that was extended by the PTI government on August 16, 2021, has pushed some industrial units, installed much before 2019-20, to the verge of collapse. It is because these have become non-competitive because the same tariff i.e., Rs12.96 per unit, is being extended to new industrial units on their whole monthly…
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