Year: 2022

Fuel cost for power generation drops by 34pc

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The cost of fuel for electricity generation in November went down by more than one-third to Rs5.99 per unit from a month ago, according to data recently released by the National Electric Power Regulatory Authority. A 27.1pc reduction in the cost of coal-based electricity contributed to the overall drop of 33.6 per cent in the average fuel cost in November, according to Tahir Abbas, head of research at Arif Habib Ltd. The per-unit cost of coal-generated power dropped from Rs17.61 in October to Rs12.84 in November, thanks to the addition…

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World’s First net-zero transatlantic Flight: Fly London to New York on used cooking oil

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The United Kingdom government has announced that Virgin Atlantic will fly a historic net zero London-New York flight in 2023. Virgin Atlantic won a competition to receive government funding for the first net-zero transatlantic flight, according to an official press release by the U.K. State on Friday.  “For decades, flying from London to New York has symbolized aviation’s ability to connect people and drive international progress. It’s now going to be at the forefront of cutting carbon emissions from flying,” said British transport secretary Mark Harper. Not only will this…

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Without Revising Tariff: Govt Hammering out Plan to cut Circular Debt

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Without allowing an upward revision in electricity and gas tariffs, the government on Saturday directed the relevant authorities to come up with viable plans to reduce the monster of circular debt that had now peaked at Rs4 trillion. However, without pricing adjustments, the IMF has rejected the initial plan for slashing the circular debt shared by Pak authorities with them in recent days because the Fund wants cost recovery of electricity and gas generation sectors. Top official sources told The News on Saturday that Minister for Finance Ishaq Dar chaired a high-level…

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Sindh govt to fully facilitate private companies working to harness clean energy potential of province

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The Sindh government is fully committed to facilitating the private sector companies that stand for exploiting the renewable energy resources abundantly available in the province so that there should be lesser reliance on imported fossil fuels for the protection of the national economy.This was stated by the Sindh government’s Energy Secretary, Abu Bakar Ahmed Madani, while speaking as the chief guest at an event “Solar Power Day” organised by GoodWe Pakistan.The Energy Secretary said the Sindh government fully facilitated investment by the private sector in the alternative energy sector so…

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The Era Of Cheap Oil Has Come To An End

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oil

In its latest monthly report, OPEC revealed it had yet again failed to produce as much oil as it agreed to produce the last time it discussed output. And it wasn’t by a few thousand barrels per day, either. The shortfall was some 1.8 million barrels daily, but more importantly, that sort of undershooting of its own target has become a regular thing for the cartel. Meanwhile, the United States federal government needs to buy some oil for its strategic petroleum reserve after releasing close to 200 million barrels from it this year…

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