Month: December 2022

Energy saving plan: Cabinet to expedite consultations with stakeholders

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The federal cabinet Wednesday decided to expedite the process of consultation with all stakeholders, including the provincial governments to ensure the implementation of the energy saving plan. The federal cabinet meeting which was chaired by Prime Minister Shehbaz Sharif discussed the proposed energy saving plan presented by the Power Division. The meeting was briefed on the consultations conducted so far with the stakeholders. In this regard, the prime minister said that the consultation process with all the stakeholders, including the provincial governments, Azad Jammu and Kashmir and Gilgit-Baltistan governments should…

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Russia says ‘active work underway’ to establish gas hub in Türkiye

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Russian Energy Minister Alexander Novak said active work is underway for the establishment of the gas hub in Türkiye. ‘Currently, active work is underway with the countries that will participate in the implementation of this project, as well as with consumers in need of Russian gas,’ Novak said in an interview with the Russian state-run TASS agency on Monday. The European gas market remains ‘relevant’ for Russia, and there are means for delivering additional volumes there, including through the Yamal-Europe pipeline, closed ‘based on political motives,’ the minister added. The…

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Russia And Iran Look To Strengthen Grip On Global Oil Markets

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When a senior government minister of either Iran or Russia says that the two countries are now experiencing a ‘golden age’ in developing relations between them then it’s a pretty safe bet that one or more countries somewhere are going to be in serious trouble pretty soon. Iranian Petroleum Minister, Javad Owji’s, comment was echoed by senior Russian officials, which makes matters much worse for everyone else, as did his additional statement that the authorities of the two countries are “determined to strengthen cooperation in all sectors”. Aside from the…

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Winter Storm Elliott Highlights Vulnerability Of U.S. Energy Systems

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Winter Storm Elliott, which swept through most of the United States during the Christmas holidays, exposed the vulnerability of the energy system as natural gas and power supplies were strained, wells froze off, and utilities vastly underestimated the power demand during the huge storm.  Despite the fact that it wasn’t as prolonged as the Winter Storm Uri of February 2021, when millions in Texas lost power for days, the latest storm showed—once again—that energy providers couldn’t accurately predict the power demand surge, and some had to resort to rotating outages…

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Govt asked to conduct forensic audit of IPPs

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Pakistan Institute of Development Economics’ Power Commission has asked the government to conduct a forensic audit of Independent Power Producers (IPPs) in the wake of alleged inflated and fraudulent charges secured from the national exchequer. The PIDE’s Power Commission on Tuesday launched a book titled “Power Sector: An Enigma with No Easy Solution” It stated forensic audit of both public and private generation companies should be conducted, followed by recoveries without any relaxation from IPPs. There should be no conditionalities for IPPs in the pipeline. In the future, no sovereign…

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