Year: 2022

U.S. Shale Could Peak In 2024: Energy Aspects

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U.S. crude oil output from shale basins could peak in 2024, a new note from Energy Aspect’s Amrita Sen cautioned. The note referenced five crude oil producers in the United States that are considering cutting rigs at the start of the year due to inflation. The news comes as the United States shows signs of desperation for alleviating high gasoline prices at the pump by releasing millions and millions of barrels of crude oil from the Strategic Petroleum Reserve and by attempting—and failing–to strongarm OPEC+ into keeping production steady. Those…

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Chinese investment quite helpful for Balochistan, says BEF president

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he President, Balochistan Economic Forum (BEF), Sardar Shoukat Popalzai has said that Chinese investment is a major milestone on improving socioeconomic development in the province of Balochistan. He expressed concern over recent statements from a National Assembly Member from the province of Balochistan, in which he has used very harsh words for Chinese companies making investments in the province including power projects. The MNA even accused them of destroying the environment and marine life in the coastal areas, besides denying jobs to locals. Sardar Shoukat Popalzai regretted that such statements…

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KE consumers: Rs8.37bn refund approved by Nepra

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Karachi Electric

National Electric Power Regulatory Authority (Nepra) on Friday approved refund of Rs 8.37 billion at the rate Rs 4.8862/ kWh to the consumers of K-Electric and an increase of Rs.0.1918/ kWh in tariff of power Distribution Companies for August 2022 under monthly Fuel Charges Adjustment (FCA) mechanism. The regulator conducted public hearings on the FCA adjustment requests of KE and Discos/ CPPA-G on September 29, 2022, attended by officials of KE, CPPA-G, NTDC, NPCC and consumers’ representatives. KE had sought negative adjustment of Rs 4.211/ kWh to refund Rs7. 217…

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World Bank chief asks govt to implement fiscal, energy reforms

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The World Bank Group President David Malpass, has urged the government of Pakistan to focus on the implementation of Pakistan’s fiscal and energy reforms to stabilise the economy and lay the foundation for sustained growth. Malpass met with Muhammad Ishaq Dar, Minister of Finance and Revenue and Sardar Ayaz Sadiq, Minister of Economic Affairs of Pakistan. According to a statement issued by the bank, President Malpass emphasized to the ministers the importance of predictable economic policies to restore macroeconomic stability and market confidence. Malpass expressed his condolences for the loss…

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Tariff for zero-rated sectors: Subsidy issue may affect IMF’s ninth review

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feeders

The government’s decision to provide electricity to five export-oriented sectors at Rs 19.99/ kWh for the remaining three quarters of the current fiscal year (2022-23), may become a stumbling block in ninth review of International Monetary Fund (IMF). This was the crux of background interaction with some government officials who are extensively dealing with the issue of five zero rated sectors. Their view was strengthened after Jihad Azour, Director, Middle East and Central Asia Department IMF, stated during a press conference on 13th October that subsidies targeted to support certain…

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