Category: Highlights

Dubai — The UAE’s juggling of energy transition and plans to eke out more profit from oil and gas projects has left it trying to secure a role in future crude demand scenarios while appeasing investors looking to combat climate change. As OPEC’s third largest producer, the UAE has commitments as a member of the alliance but it is also pursuing its own agenda to speed up production of oil reserves before peak demand becomes a reality. Abu Dhabi National Oil Co, the UAE’s biggest energy producer, is accelerating exploration and…

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ISLAMABAD: Amid the impending LNG availability crisis in February, 2021 on account of backing out by UAE based LNG supplier (ENOC) of its commitment to provide an LNG vessel next month, the top management of Jamshoro Joint Venture Limited (JJVL) has asked the Petroleum Division (PD) to comply with the ECC decision by letting its LPG extraction plant resume operation. “Once JJVL’s LPG extraction plants comes on stream, it will start catering to the energy needs of over 750,000 homes across Pakistan. And this will also help contain the increasing…

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ISLAMABAD: After increasing POL prices twice this month, the government is now all set to explode the power tariff bomb on the masses in the current week, as Power Division has prepared a summary seeking the ECC approval for increase in the new base tariff by Rs1.90 per unit setting new base tariff at Rs15.25 per unit, well-placed sources at Energy Ministry told The News. “The existing base tariff of electricity power distribution companies (DISCOs) stands at Rs13.35 per.” However, they said, the government is likely to notify today (Monday)…

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Emerging markets such as Vietnam, Pakistan and Bangladesh that are turning to liquefied natural gas (LNG) as a source of power are likely to be hit by higher and more volatile prices going forward, according to a new briefing note from the Institute for Energy Economics and Financial Analysis (IEEFA). Author of the note LNG/gas analyst Bruce Robertson says new gas-fired power plants and LNG import facilities totalling over US$50 billion are at high risk of cancellation as gas-fired electricity becomes unaffordable in emerging markets. “Asian LNG spot prices have…

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ISLAMABAD: Overall production of petroleum commodities has witnessed an increase of 1.50 percent during the first five months of current financial year 2020-21 as compared to corresponding period of fiscal year 2019-20. POL products that showed positive growth include Kerosene Oil the production of which increased by 3.76 percent during the period under review, Pakistan Bureau of Statistics (PBS) reported. Similarly, the production of Motor Spirits, High Speed Diesel, Furnace oil, Jute Batching Oil and Liquefied Petroleum Gas witnessing increase of 16.13 percent, 7.16 percent, 0.97 percent, 5.85 percent and…

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