Year: 2023

After posting record profits in 2022, oil and gas companies say they’re preparing to ramp up investments in clean energy and new technology this year. Exxon Mobil Corp. has said it will spend about $3.4 billion annually on alternative energy over the next five years, about 15 percent more than its plans last year. Chevron Corp. — the nation’s second-largest oil company — said it will more than double its clean energy spending from last year to $2 billion in 2023. “Our 2023 capex budgets are consistent with our long-term…

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mid a power shortage crisis already engulfing the country, 15 production units of the Tarbela power plant have been shut down – its administration attributing the problem to a reduction in water release from the dam because of the canal cleaning campaign. Only two units of the power station are generating 340 MW of electricity. The problem at Tarbela has aggravated the already precarious power situation in the country.Tarbela Dam is a major source of hydropower generation in the country with an installed capacity of 4,888 MW. According to the…

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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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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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