Author: Admin

K-Electric Faces Scrutiny Over Prolonged Outages and Overbilling

Admin
K-Electric

NA Committee to Review KE’s Performance in Karachi | Utility Seeks 51 Paise Tariff Hike for August ISLAMABAD: Despite overcapacity in the power system, complaints of overbilling, excessive loadshedding, and high electricity costs in Karachi dominated discussions at parliamentary and regulatory forums on Thursday. K-Electric (KE) faced sharp criticism from the National Assembly’s Standing Committee on Power and a public hearing by the National Electric Power Regulatory Authority (Nepra). Both forums raised concerns over KE’s reliance on expensive power plants, leading to 6-18 hours of loadshedding and overcharging. Karachi residents,…

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Pakistan eyes China, Gulf investment

Admin

ISLAMABAD: Pakistan has rationalised its investment expectations from the Gulf nations under the Special Investment Facilitation Council to $27 billion in five years, as it also hopes to clinch some new deals during the upcoming visit of Chinese Prime Minister Li Qiang. However, the exact number of agreements and memorandum of understandings that Pakistan hopes to sign during the Chinese prime minister’s visit has not yet been finalised. The Ministry of Foreign Affairs has shared a list of about 41 possible deliverables for the visit. Work on the list of…

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Oil gains nearly 4% on supply concerns as Middle East conflict intensifies

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Oil price

HOUSTON: Oil prices strengthened on Thursday on investor concern that a widening Middle East conflict could pose a threat to crude oil flows from the region. Brent crude futures were up $2.82, or 3.82%, at $76.72 a barrel by 11:36 a.m. EDT. U.S. West Texas Intermediate crude futures rose $2.85, or 4.07%, to $72.95. Both benchmarks climbed by more than $3 per barrel during the session. Brent futures reached an intraday high of $77.65 per barrel, the strongest since Aug. 30, while WTI futures peaked at $73.95 per barrel, a…

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Energy Planning Critical for Driving Just Transition Investments in Global South: IRENA Reports

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renewable-energy

Abu Dhabi, UAE/Foz do Iguaçu, Brazil – October 3, 2024:The International Renewable Energy Agency (IRENA) has highlighted the crucial role of energy planning in unlocking investment opportunities in emerging markets and developing economies (EMDEs). In new reports commissioned by Brazil’s G20 presidency, IRENA calls for de-risking strategies and leveraging public finance to drive a just and inclusive energy transition in the Global South. Current global investment patterns show significant disparities, with advanced economies and large EMDEs like China, India, and Brazil attracting the bulk of the funding. In contrast, the…

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Local Refineries Urge Resolution of Key Issues Before Committing to Upgrades

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refinery

KARACHI: Pakistan’s five local refineries have linked the signing of Upgrade and Escrow Agreements with the Oil & Gas Regulatory Authority (Ogra) to the resolution of critical issues facing the sector. With the October 22 deadline approaching, the refineries have expressed concerns that unresolved matters are jeopardizing their operations and upgrade plans. In a letter to Ogra, the refineries highlighted the detrimental impact of recent changes to the sales tax on petroleum products, implemented through the Finance Act, 2024. The change has nullified the incentives provided under the Brownfield Refining…

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