Year: 2022

Global Oil And Gas Investments To Reach $628B In 2022

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An analysis by Rystad Energy projects overall oil and gas investments will rise 4 percent to $628 billion this year from $602 billion in 2021. A significant factor behind the increase is a 14 percent increase in upstream gas and LNG investments. These segments will be the fastest-growing this year, with a jump in investments from $131 billion in 2021 to around $149 billion in 2022. Although this falls short of pre-pandemic totals, investments in the sector are expected to surpass 2019 levels of $168 billion in just two years,…

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QTA for 1Q 2021-22: Nepra defers hearing due to ‘inexact’ figures of Discos

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National Electric Power Regulatory Authority (Nepra) on Wednesday deferred a public hearing regarding Quarterly Tariff Adjustment (QTA) for first quarter (July-September) 2021-22 due to “inexact” figures of power Distribution Companies (Discos). Presided over by Nepra Chairman Tauseef H Farooqi, the Authority received a briefing from Nepra’s own team and a couple of Discos. However, when CPPA-G representative Naveed noted that the figures for QTA sent by the Discos are Rs11 billion less than the statistics shared by the Discos Chairman, Nepra questioned if Discos had shared accurate numbers. Discos, in…

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Door-to-door garbage collection commences in West and Keamari districts

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An inauguration ceremony was held in this regard, in which Sindh Local Government Minister Syed Nasir Hussain Shah was the chief guest. Karachi Metropolitan Corporation (KMC) Administrator Murtaza Wahab, SSWMB Managing Director Zubair Channa and Sindh Local Government Secretary Syed Najam Ahmed Shah were also present at the ceremony. Addressing the event, Shah said that as per the new local government law, the Karachi mayor would be the chairman of the waste management board. The ceremony was informed that additional 140 mini-tippers, which are three-wheel trucks, and 350 vehicles had…

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CCOE to Discuss Refinery Policy

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The Pakistan Oil Refinery Policy 2021 has turned into a shuttlecock between the Ministry of Energy and Cabinet Committee on Energy (CCOE) which has sparked uncertainty in the refining sector that plans to invest $5 billion to upgrade projects. The delay in reaching a decision by the CCOE has marred the investment plans of refineries. CCOE has already approved Refinery Policy 2021 however it capped the incremental revenue for upgradation. Earlier, CCOE had raised several questions regarding collection of deemed duty by refineries and investment on upgradation projects. Petroleum division…

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Nepra allows cheaper rate of Rs12.96 per unit for KE users

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The National Electric Power Regulatory Authority (Nepra) on Wednesday allowed applicability of cheaper fixed electricity rate of Rs12.96 per unit on incremental consumption to domestic, commercial and general services in current winter months to K-Electric and until Oct 31, 2023 to all industrial consumers of the utility while missing out industrial (B1) consumers of other distribution companies (Discos). It may be recalled that the normal tariff for non-protected consumers varies between Rs16 and Rs22 per unit. In two determinations on Wednesday, the regulator allowed these rates to KE as an…

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