China’s crude oil imports from Russia rose 17% in November from a year earlier, as Chinese refiners rushed to secure more cargoes ahead of a price cap imposed by the Group of Seven nations on Dec. 5. The jump made Russia the top oil supplier for China ahead of Saudi Arabia. Arrivals of Russian crude, including oil pumped through the East Siberia Pacific Ocean pipeline and seaborne shipments from Russia’s European and Far Eastern ports, amounted to 7.81 million tonnes last month, data from the General Administration of Customs showed…
Read MoreDay: December 26, 2022
T4HP: Govt seeks another extension in closing date of World Bank loan
The government has requested the World Bank for extending the closing date of credit for Tarbela Fourth Hydropower project for fifth time, aimed at enabling Water and Power Development Authority (Wapda) to finance remaining payments on ongoing contracts, complete activities to support sustainable operation of project and address remedial measures for fixing issue identified at the intake of the power tunnels constructed under the project. Official documents revealed that the restructuring for the extension of the closing date of IDA Credit- to June 30, 2023 is in response to the…
Read MoreEnergy projects to earn Rs10bn per annum for KP: secretary
The Secretary Energy & Power KP Nisar Ahmad Khan has said that the timely completion of ongoing energy projects in the province is the first priority, however, the ongoing economic issues in the country are proving to be a major obstacle in the completion of energy projects, for which an integrated strategy is indispensable. Department of Energy subsidiary Pakhtunkhwa Energy Development Organization (PEDO) is a profitable enterprise of the province that has successfully completed various hydropower projects at a cost of Rs. 9 billion and has brought an income of…
Read MorePMO Seeks Report on Proposed Changes in Net-Metering Regulations
The Prime Minister Office (PMO) has sought report from Power Division on the concerns of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on the proposed amendments in Net Metering regulations. FPCCI had written a letter to the Prime Minister Shehbaz Sharif, following a public hearing at Nepra on this issue and comments of Chairman Nepra, Tauseef H Farooqi. FPCCI has submitted the following recommendations: (i) allow carry forward surplus units in the following months enabling the generator to use it according to the need and if desired donate…
Read MorePakistan needs approximately $155 billion for energy sector till 2030: ADB
Energy investment ranges from $62 billion to $155 billion till 2030, a local newspaper reported on Sunday. According to ADB’s Central Asia Regional Economic Cooperation (CAREC) Energy Outlook for 2030 report, energy investment needs until 2030 vary significantly across the three scenarios, with estimates ranging from $62 billion to $155 billion. The power generation and the energy efficiency sector need the most significant investments owing to the rapidly growing demand and low baseline efficiency. In all three scenarios, the largest investments are needed for the development of the country’s hydropower…
Read More
