Month: January 2023

NEPRA Makes Use of Thar Coal Mandatory for Coal Power Plants

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Independent Power Producers (IPPs) will inform their six months’ requirement of coal to Thar Coal Energy Board,” NEPRA instructed. “In case of non-availability of required coal, they will be eligible to import it.” The coal will be purchased and sold in Pakistani rupee, power regulator said. “Minimum coal import order will not be lesser than 5,000 tons,” it added. The regulatory authority had earlier asked Prime Minister Shehbaz Sharif to set up a coal authority to deal with coal imports for consumption in coal-fired power plants. According the NEPRA revised…

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Energy conservation: Can Karachi be the City of Lights again?

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Pakistan’s government is diligently making efforts to overcome the country’s prevailing power crisis. As part of this initiative, the federal government unveiled a new energy-saving initiative. The steps suggested by the government are commendable; however, one step which needs special mention is the intention to introduce e-bikes. If this initiative can achieve the desired results, it will save foreign exchange and help in environmental regeneration. Another high point is the government’s thinking towards promoting work-from-home. Federal Defence Minister Khawaja Asif, while highlighting the benefits of working from home, revealed that if…

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Iran Eyes More Energy Deals With Turkmenistan

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With its massive oil and natural gas reserves, Turkmenistan’s economy is heavily dependent on foreign exchange earnings from the export and sale of these resources. Given this, the country’s economic stability is tied to Ashgabat’s foreign policy and cooperation with its neighbors, including those territories located in the path of target markets (Iess.ir, February 8, 2021). Iran, in particular, has always intended to take advantage of its location for oil and gas swaps with the countries of the Caspian Sea and Central Asia in hopes of becoming a hub for…

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WTI Crude Ticks Higher After EIA Confirms Small Inventory Build

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WTI crude prices rose slightly today after the U.S. Energy Information Administration reported an oil inventory build of 1.7 million barrels for the week to December 30. This compared with a modest build of 700,000 barrels for the previous week, which in turn followed a weekly draw of 5.9 million barrels. The EIA said that at 420.6 million barrels, crude oil inventories were still below the seasonal five-year average, by some 4 percent. A day earlier, the American Petroleum Institute estimated a crude oil inventory build of close to 3.3 million barrels, citing refinery shutdowns that…

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U.S. Oil and Gas Is In No Hurry To Grow

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Last year was a rather surprising one for those used to seeing a short and visible link between oil prices and U.S. oil production. In 2022, this link broke. Despite higher oil prices, U.S. drillers did not go into full growth mode. And they ended the year in much the same way. According to the latest Dallas Fed energy survey, the pace of growth in the U.S. oil and gas industry slowed in the fourth quarter of the year even though many of the biggest challenges the industry had faced…

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