Author: Admin

ISLAMABAD: The Power Division spokesperson has said that temporary load management of 1.5 to 3 hours during night-time peak hours was carried out across the country due to the non-availability of RLNG and the delayed arrival of an RLNG cargo. According to the spokesperson, the shortage of RLNG affected approximately 3,600 MW of power generation, while generation from Mangla Hydropower Station declined by another 195 MW. To meet electricity demand during the night-time peak period, fuel oil-based power plants were also brought into operation. The spokesperson said that the temporary…

WASHINGTON, AUGUST 29, 2026: US President Donald Trump has announced a major expansion of American involvement in Venezuela’s oil industry, saying the United States has secured majority control of more than 65 billion barrels of Venezuela’s proven oil reserves through partnerships with private companies. Trump provided few details about the structure of the agreement, including which oilfields and companies are involved or how US majority control over the reserves would be exercised. The announcement represents an unprecedented potential expansion of the US role in Venezuela’s oil sector. The agreement follows…

ISLAMABAD, AUGUST 29, 2026: The Privatisation Commission Board has approved the prequalification of 10 out of 12 interested parties for the privatisation of Faisalabad Electric Supply Company (FESCO), with K-Electric withdrawing its Expression of Interest (EoI) and a Chinese company failing to meet the prequalification requirements. The decision was taken at a meeting of the Privatisation Commission Board chaired by the Prime Minister’s Adviser on Privatisation and Chairman of the Privatisation Commission. K-Electric, Pakistan’s only privatised power distribution utility, withdrew its EoI before the prequalification process was completed. The company…

BEIJING: China’s state-owned oil and gas major CNOOC sees potential for greater energy cooperation between China and the United States and could consider investment opportunities with US partners in the future, a senior company executive said. CNOOC General Counsel Xu Yugao said there remained significant room for cooperation in the energy sector despite ongoing trade tensions between the two countries, particularly in liquefied natural gas (LNG). “The US is currently the world’s largest producer and exporter of LNG, while China is currently the largest importer of LNG — so there…