Year: 2022

PAC seeks Nepra report on IPP agreements

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The Public Accounts Committee (PAC) on Wednesday sought a report from the National Electric Power Regulatory Authority (Nepra) on agreements signed with independent power producers (IPPs). At a meeting held at the Parliament House, the PAC discussed audit paras related to authorities working under the administrative control of Cabinet Division. Briefing the committee, Nepra chairman Tauseef Farooqi said the country had the capacity to produce 41,000 megawatts of electricity. He said the current power outages in the country were due to insufficient supply of oil to power generating plants. PAC…

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Power-saving requires non-cosmetic measures, say power sector experts

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power

While welcoming the steps the governm­ent announced on Wed­n­es­day to conserve energy, exp­erts, however, think they are not enough and will only lessen the severity of the crisis, not solve it. They insist the country has perpetually suffered from an energy crisis and has vast experience of dealing with it. “It is time to dust off all those suggestions, implement them, ensure their execution to the minutest detail to take the country out of the current energy mess,” they insist. To begin with, “shops should pull their shutters down before…

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The Biggest Reshuffle Of Oil Flows Since The 1970s

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The biggest reshuffle of oil trade flows since the Arab oil embargo of the 1970s is underway—and things may never return to normal. The Russian invasion of Ukraine and the sanctions on Russian oil exports are changing global oil trade routes. Over the past nearly five decades, oil flowed more or less freely from any supplier to any customer in the world, except for sanctions on Iran and Venezuela in recent years.  This free energy trade is now over, after the Russian aggression and the Western sanctions that followed, plus Europe’s irreversible…

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Is The Battery Boom Officially Over?

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The term battery metals typically refers to lithium, nickel, and cobalt. The name stems from the fact that the three metals are frequently used in the production of all types of modern batteries. Since 2021, these metals have enjoyed a rather lengthy bull run. This has proved profitable for investors and provided some much-needed predictability for traders. However, if you ask the experts at Goldman Sachs, the battery metals party is “officially over.” But is this really true? If so, what does it mean for the rest of 2022? Are Battery…

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Kazakhstan Sees Oil Exports Constrained Due To Sanctions On Russia

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Rising costs and sanctions on Russia have lowered the profitability of oil exports for Kazakhstan’s state oil and gas firm KazMunayGas, which has been forced to accept discounts on its crude being carried via the Russian pipeline network. The CPC pipeline carries oil from Kazakhstan’s Tengiz oilfield to export infrastructure along the Black Sea coast. Most of the crude oil carried by the CPC pipeline belongs to Russia, Kazakhstan, and international oil majors such as Chevron. It remains a vital crude oil artery for Kazakhstan, accounting for two-thirds of the…

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