Category: Highlights

GlobalData’s free bi-weekly Covid-19 report on the latest information your industry needs to know. The Department of Energy (DOE) in the Philippines has approved Vires Energy’s (VEC) notice to proceed (NTP) application for the proposed integrated LNG project in the province of Batangas. The proposal includes the construction of a liquefied natural gas (LNG) storage and regasification terminal project. Philippines DOE Secretary Alfonso G Cusi said: “The proposed integrated natural gas-fired power plant and LNG storage and regasification terminal project of Vires Energy Corporation will boost the attainment of our…

Read More

Documents seen by Dawn suggest that a combination of ambitious policy actions will rein in circular debt growth to the extent of over Rs2tr in two years. The average tariff is projected to be Rs20.25 per unit by FY2023 from a little over Rs15.4 per unit at present. The plan envisages that there will be no additional coal-based power plant in the near future and all of the already commissioned and under construction imported coal-based IPPs of about 5500mw and Jamshoro-1 will be converted to Thar coal from the existing blocks 1…

Read More

Lacklustre bureaucratic approach and inconsistent policies have resulted in losing $5 billion committed investment from Qatar in RLNG power plants, refurbishment of airports and hotels here in Pakistan and now it has been diverted to Bangladesh. Now Qatar’s Nebras Power Investment (QEWS QD) has acquired equity stake in Bangladesh’s Unique Meghnaghat Power. Also, the Nebras Power Investment Management has signed a sale and purchase agreement (SPA) with Unique Hotel and Resorts Limited (UHRL) to acquire a 24pc equity stake in Unique Meghnaghat Power Limited (UMPL) in Bangladesh. This acquisition enhances…

Read More

Studies have been conducted in various countries around the world, notable of which was in Sri Lanka and Pakistan in the 1990s on the economic loss of unsupplied electricity. It was found that every kilowatt (kW) that was not supplied had an economic cost of at least $1/Kwh — Sh108 — and resulted in major dips in the gross domestic product of a country. Allow me to park this thought for now and revisit it towards the end of this article. Last week, President Uhuru Kenyatta gazetted the appointment of…

Read More

Pakistan has awarded six onshore exploration blocks in Sindh, Balochistan and Punjab provinces with the acreage being snapped up by local state-owned companies. Read more: Pakistan seeks $5 billion investment to spark oil and gas activityPartners (OGDC) and Mari Petroleum were awarded blocks 3068-6 (Killa Saifullah) and 3067-7 (Sharan) in Balochistan; Block 3069-9 (Suleiman) in Balochistan was picked up by OGDC and Pakistan Petroleum; while OGDC also secured blocks 17 (Sujawal South) in Sindh province, 3273-5 (Jhelum) and 3272-16 (Lilla). CommitmentsThe minimum firm exploration commitment for the blocks is US$24.68…

Read More