Year: 2022

The United States (US) has reportedly showed willingness to allow trade of Russian oil at discounted rates for a specific period, well informed diplomatic sources told Business Recorder. In case of Pakistan, US Embassy in Islamabad has expressed willingness to meet the officials of Petroleum Division to explain to them the mechanism to cut a short-term cut rate deal for Russian crude oil. Pakistan has already requested a deal with Russia to import wheat and oil at discounted rates. The new regime, sources said, has conveyed by the US in a…

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State-owned gas marketing firm Sui Southern Gas Company (SSGC) has decided to diversify its business, as the company has announced that it will start power production following a continuous drop in gas supplies from domestic fields. Its subsidiary company will also work on projects like producing gas from coal, biogas, bio-methane and hydrogen gas. “SSGC Alternate Energy (Pvt) Limited, a fully owned subsidiary of SSGC, has been incorporated as a private limited company under the Companies Act 2017,” the company said in an announcement on Saturday. The business model of…

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The hydel generation capacity of Tarbela Dam will touch 6418 MW from the existing 4888 MW with the completion of 5 th Extension Hydropower Project (T-5) scheduled to be completed in 2025. The under-construction (T-5) will add 1530 MW to the already installed capacity of 4888 MW, sources told APP here. They said before commissioning of Tarbela 4th Extension, the installed capacity of Tarbela was 3478 MW but with the addition of 1410 MW, the capacity rise to 4888 MW. Now, with the addition of T-5, Tarbela will be largest…

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National Electric Power Regulatory Authority (Nepra) has reportedly accused Ministry of Energy of passing “unjustified” financial burden of Rs 30 billion to consumers by not supplying required RLNG or operating of inefficient/ expensive power plants during the last two years, well informed sources in Nepra told Business Recorder. The power regulator, sources said, has written a letter to Secretary Power Division in which his attention has been drawn towards the shortage of RLNG supply to the power sector over the last two years and the resulting financial impact due to…

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The government has approved one year extension to the Financial closing date of Thar Coal Block-1 Power Generation Company, well informed sources told Business Recorder. M/s Thar Coal Block-I Power Generation Company (Pvt,) Limited was issued a Letter of Support (LoS) on July 20, 2016 which was amended on September 15, 2017, January 12, 2018, August 17, 2018, February 22,2019, July 10, 2019, December 10, 2019, March 19, 2020, July 10, 2020, February 24, 2021 and August 24, 2021. The Project Company, for which eleventh amendment has been approved, and…

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