Year: 2022

OGDC, PPL to fork out over $187.5m each for Reko Diq project

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Two state-owned energy companies announced separately on Tuesday they’ll seek approval from their respective shareholders to subscribe to 33.3 per cent shares of Pakistan Minerals Ltd for taking part in the reconstituted Reko Diq project. The reconstituted project, which will excavate gold and copper reserves in Balochistan, has saved the country from an $11 billion penalty in the Reko Diq case. Pakistan Minerals Ltd will then buy a 25pc shareholding in Tethyan Copper Company Pakistan Ltd — to be re-named as Reko Diq Mining Company Ltd — from its present…

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Oil Theft Threatens Colombia’s Energy Industry

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Strife-torn Colombia was sharply impacted by the 2020 pandemic. The Andean nation’s economy contracted 7% while poverty, corruption, lawlessness and violence soared. Those events were indirectly behind a marked increase in the incidence of petroleum theft, which has grown significantly since 2016. Aside from the pandemic there are a wide variety of reasons for rapidly rising oil theft in Colombia. Among the most prominent is gasoline’s crucial role as an ingredient used to manufacture cocaine. The spike in oil theft is occurring at the same time as cocaine production in…

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Germany To Allocate $83 Billion For Energy Price Caps In 2023

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The German government plans to spend as much as $82.8 billion (83.3 billion euros) on funding a planned cap on electricity and gas prices next year as it looks to help businesses and consumers with coping with high energy costs, Reuters reported this weekend, quoting a draft proposal it had seen. The proposed financing for energy price caps would represent 42% of the planned $199 billion (200 billion euros) “defensive shield” to protect companies and consumers against the impact of soaring energy prices. At the end of September, the German…

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Differences with CPPA-G/ GoP: FPCDL ready for out-of-court settlement

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M/s Foundation Power Company Daharki Limited (FPCDL) has expressed willingness for an out of court arbitration with CPPA-G/ GoP with no obligation, liability or claim towards/ or by either party. This message has been conveyed by CEO/ MD FPCDL, Major General, Muhammad Junaid (retired) in a letter to Power Division. The Company had entered into a certain Master Agreement on February 11, 2021 with the Central Power Purchasing Agency-Guarantee Limited (CPPA-G). As per Clause 8 of the Master Agreement titled “alleged savings, the resolution of the dispute as to alleged…

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NTDC plans to evacuate power from 3 key HPPs

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The National Transmission and Despatch Company (NTDC) has prepared plans to evacuate power from three key hydropower projects, i.e., Dasu Hydropower Project (stage-1, 2160-MW), Mohmand Dam, 800-MW, and Diamer Bhasha Dam, 4500-MW, well informed sources told Business Recorder. Total length of transmission line of Dasu hydropower project will be 254.5 km which requires 686 towers. Distance between Dasu project to 765 kV Mansehra Substation is 157 km which requires 406 towers whereas distance from Mansehra substation to Islamabad West Substation is 97.6 km, which requires 280 towers. For 765/220 kV Mansehra…

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