Month: February 2023

Rising Metal And Mineral Prices Could Derail The Energy Transition

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Metals and minerals prices have soared over the last year, a trend that is likely to continue as the global demand for these resources continues to increase in line with the green transition. The price of lithium, cobalt, nickel, aluminum, and copper have all risen as renewable energy projects and battery manufacturing operations expand worldwide. While the scarcity of these resources is a major concern, many energy companies are also worried about the rising cost of metals and minerals as they plan for large-scale green energy operations. Between January 2021…

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Putin’s Gift To Exxon

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hen Russia invaded Ukraine nearly a year ago, few people would have imagined that the disruption of oil and gas supplies would push the fossil fuel sector to historical highs. In fact, shareholders were more concerned about the hefty charges and writedowns that multinational oil and gas companies might be forced to take on their Russian investments. And, their worst fears came true soon enough. On February 27, 2022, just days after Russia invaded Ukraine, British energy giant BP Plc. (NYSE: BP) announced that it would exit its 19.75% shareholding…

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NEPRA forms committee to probe Jan 23 power outage

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NEPRA forms committee to probe Jan 23 power outage February 17, 2023 After failure of Prime Minister’s designated inquiry committee in unearthing reasons of the January 23’s countrywide power breakdown, the National Electric Power Regulatory Authority (NEPRA) on Thursday constituted a committee to thoroughly investigate the matter. The power regulator said it had taken a serious notice of the outage and acquired a preliminary report from National Transmission and Despatch Company (NTDC) and K-Electric. Subsequently, a briefing/presentation by NTDC, KE, WAPDA and all distribution companies (DISCOs) was held on January…

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POL import deal: Pakistan seeks UAE response over IGA draft

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electric

Pakistan has sent a reminder to the UAE asking for a response to the IGA (Inter-governmental Agreement) draft for the import of POL products, officials of the Energy Ministry told The News. We have sent the reminder through MOFA (Ministry of Foreign Affairs) to the UAE government, seeking its response to the IGA draft Petroleum Division had sent to the government in December 2022,” the spokesman of the Petroleum Division confirmed to The News. “We want sustainable supply of POL products in the country under the GtG agreement with the…

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OGRA Issues Gas Price Revision Notification

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ogra

Oil and Gas Regulatory Authority (OGRA) on Wednesday issued a notification of gas sale price for domestic, commercial and industrial sectors, which would be effective from January 1. Under the “protected category,” as per the notification, the authority has determined Rs 121 per Million British Thermal Unit (MMBTU) gas for domestic consumers using up to 0.25hm3 (in cubic hectometers) gas per month; Rs 150 per MMBTU for users of up to 0.5hm3; Rs 200 per MMBTU for consuming up to 0.6 hm3; and Rs 250 per MMBTU for up to…

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