Author: Admin

OPEC and IEA at odds on future of oil demand

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fuel-oil

Despite the International Energy Agency (IEA), the Organisation for Economic Co-operation and Development energy watchdog, continuing to emphasise, and in no uncertain terms, that the era of oil demand growth is coming to an end, what is making Prince Abdulaziz bin Salman, the Saudi petroleum minister, so ebullient and convinced that the global crude demand will continue to grow in the decades to come? The International Energy Agency is strongly of the view that global oil demand growth is slowing down. And that by 2030, at the latest, global energy…

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Govt urged to revive five-year development planning

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IMF-board

ISLAMABAD: The International Monetary Fund (IMF) has advised Pakistan to revive its five-year development planning, get climate-sensitive public investment management plans working and publish criteria for project appraisals for transparency to attract global climate financing. The IMF’s guidance comes immediately after the two sides reached a staff-level agreement on the first review of a $3 billion bailout, followed by a public announcement by caretaker Finance Minis­ter Dr Shamshad Akhtar to postpone a conventional $1.5bn Eurobond issue this year and the potential need for a longer-term IMF loan deal soon after the February…

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PSA reaffirmed its resolve to stand shoulder-to-shoulder with govt to achieve its ambitious clean energy plans

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The Pakistan Solar Association (PSA) has reaffirmed its commitment to stand shoulder-to-shoulder with the government in achieving its ambitious clean energy targets by the year 2030 for cutting the carbon footprint of the power sector and saving precious foreign exchange reserves otherwise spent on the import of highly expensive fossil fuel for electricity production.The PSA leadership assured the fullest support to the government’s drive to produce up to 60 per cent of electricity in the country through renewable energy means at an event titled “Let’s grow together”.The PSA leaders said…

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Pakistan, Iran agree to jointly develop IP gas pipeline implementation plan

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iran-gas-pipeline

Pakistan and Iran have decided to revive their stalled cooperation on the Iran-Pakistan (IP) gas pipeline project, which has been languishing for years due to the fear of US sanctions. The two countries will start formal negotiations within the next few weeks. This was the outcome of the recent visit of Pakistan’s Interim Energy Minister Muhammad Ali to Tehran, where he met his Iranian counterpart and other senior officials. According to a report by The News, energy minister said that Pakistan has reaffirmed its commitment to the project and conveyed…

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Solar plan could save $2 billion a year in LNG imports, expert says

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lng-usa

ISLAMABAD: An energy expert claims he has a realistic and workable plan to slash the country’s reliance on liquefied natural gas imports by up to 50 percent gradually in the next three years and reduce its massive power sector debt by using solar energy. Eng Arshad H Abbasi, co-Founder of Energy Excellence- Center NUST, Engineering University Peshawar said he has been demonstrating his innovation at his own home, where he does not use gas from the national grid, for the past two years. Abbasi said he wanted to replicate this…

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