Month: February 2023

Would Pakistan’s long-term power purchase agreements become roadblocks to its solar energy revolution?

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electric

A recent public hearing held by the National Electric Power Regulatory Authority (NEPRA) on a proposed 600 MW solar power plant in Muzaffargarh has brought to light a host of concerns on the right incentives needed to promote an expedient uptake of solar power in Pakistan. This is the first large-scale 600 megawatt (MW) solar project offered under the new Fast Track Solar Initiative that aims to substitute solar PV in the place of expensive fossils fueled power generation. Like many countries in Asia, which have been priced out of…

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OGDCL, IBA launch scholarship programme

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ogdcl

The Oil and Gas Development Company (OGDCL) has announced the launch of its National Talent Hunt Scholarship Programme Batch-2023 in collaboration with the Institute of Business Administration (IBA) Karachi for deserving but talented students from OGDCL’s operational areas. Under the OGDCL-IBA Talent Hunt Programme selected students will get two months’ training in orientation programme at the IBA, Karachi. The programme will provide an opportunity and guidance to students from selected districts to secure admission to a four-year undergraduate degree programme at the IBA, Karachi. IBA Karachi has started accepting application…

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No shortage of petrol, govt to take action against hoarders: Musadik Malik

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State Minister for Energy (Petroleum Division) Musadik Malik on Thursday reiterated that there is no shortage of petroleum products in the country, and the government will strictly deal with those hoarding petrol and diesel. Addressing media persons amid a reported shortage of petroleum products in Punjab, the minister said that since Wednesday over 900 inspections were carried out in various districts of Punjab – 530 in Sargodha district and 430 in Faisalabad district – with hoarders penalised and a number of petrol pumps sealed. “Similarly, a number of inspection operations…

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Fixing power sector will be a long haul

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Pakistan’s energy imports – petroleum, LNG, LPG, and coal-stood at $25 billion in the last fiscal year. Within it, the share of transport is the highest while its efficiency in usage is woefully low. This is not sustainable and has to change. In the medium to long term, the focus has to shift on indigenous energy resources, including renewables, to produce electricity, and by using primary energy sources efficiently. Transportation, especially public and logistic transport, must slowly move towards electric. The good news is that upcoming projects in the IGCEP…

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Britain’s biggest gas supplier accused of ‘profiteering’ from energy crisis

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Britain’s biggest gas supplier, the Norwegian state-owned oil company Equinor, has been accused of “profiteering” from the energy crisis and higher household bills after posting record annual earnings of £62bn. The oil and gas producer said on Wednesday that adjusted profits hit $15.1bn (£12.5bn) in the final three months of last year, bringing total annual profits to $74.9bn, the highest in its 51-year history. France’s largest oil and gas company, TotalEnergies, one of the biggest operators in the North Sea, also reported record annual profits on Wednesday. Its adjusted earnings…

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