Year: 2022

KE blames surging demand as prolonged power cuts pile misery on citizens

Admin

With a heat wave gripping Karachi and other parts of Sindh, loadshedding hours have increased manifolds in the city, causing great difficulty for its residents. Almost all areas of the city are witnessing prolonged power outages this summer. The affected areas include North Karachi, Surjani Town, Shadman Town, Buffer Zone, Nazimabad, North Nazimabad, Gulshan-e-Iqbal, Gulistan-e-Jauhar, Lyari, Saddar, Malir, Landhi, Korangi, Defense Housing Authority, Clifton, Boat Basin, Ibrahim Hyderi, II Chundrigar Road and Shah Faisal Town, where loadshedding is piling misery on the residents. Earlier in April, when there was a…

Read More

Power base tariff raised by 57 paise from June 1

Admin

The National Electric Power Regulatory Authority (Nepra) on Tuesday approved 57 paise per unit increase in base electricity tariff with effect from June 1 to provide Rs14.3bn additional revenue to distribution companies (Discos) of ex-Wapda in three months. The increase was allowed under quarterly tariff adjustment mechanism for first quarter (July-September 2021) of current fiscal year. Ten Discos had together demanded Rs33bn additional funds for the said quarter, but a number of regulatory meetings and public hearings found their number unbankable. Nepra twice cancelled public hearings on Jan 12 and…

Read More

Russian Gas Flows To Europe Via Ukraine To Stop Wednesday

Admin

Russian gas headed to Europe through Ukraine will stop flowing on Wednesday, Ukraine’s Gas Transmission System Operator (GTSOU) said on Tuesday. The flows will stop at 7 a.m. local time after Russia’s occupying forces disrupted gas transit operations in the area. According to the operator, Ukraine will no longer be able to accept gas transit from Russia via Sokhranivka. The move has the potential to disrupt supplies to Europe if an alternative path isn’t found. Ukraine has voiced its criticism of Europe’s reliance on Russian gas since Russia invaded, with…

Read More

Oil Prices Go For Wild Ride On Heightened Volatility

Admin

Crude oil prices remain exceptionally volatile on Tuesday, with WTI fluctuating between sub-$100 and nearly $104 per barrel after sinking from more than $110 on Monday as bearish and bullish factors push and pull crude benchmarks. Monday saw crude oil prices drop sharply as China lockdowns and Saudi Arabia’s crude oil price cutting contributed to worries about a possible slump in crude oil demand in the world’s top crude importer. But oil prices seesawed on Tuesday as the EU continued to try to reach a consensus on a Russian crude…

Read More

Saudi Energy Minister: Insufficient Investment To Blame For High Fuel Prices

Admin

Not enough investment in global refining capacity is one of the key drivers of the global rally in gasoline, diesel, and jet fuel prices, according to Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, who reiterated the Kingdom’s view that a rushed transition to cleaner energy fails to take into account realities.   “All mobility fuels have skyrocketed … and the gap between crude prices and these products in some cases is actually 60%,” Prince Abdulaziz bin Salman said at an aviation conference, as carried by Reuters.  If the industry is…

Read More