Category: Highlights

The Pakhtunkhwa Energy Development Organization (PEDO) and the Peshawar Electric Supply Company (PESCO) have yet to reach an agreement on the sale of electricity for the Machai Hydro Project, owing to which the province was not being able to earn revenue despite spending billions on the project’s construction. According to sources, there was a question mark on the seriousness of both the central and provincial governments regarding this important issue, particularly at a time when KP was going through a financial crisis. 

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ISLAMABAD: The government and wind power producers (WPPs) on Friday formally signed a memorandum of understanding (MOU) to increase term of plants by five years against certain relief in key items of the tariff. The MOU was signed by Babar Yaqoob Fateh Muhammad, who leads the government’s negotiation committee and Rumman Arshad Dar, chairman Pakistan Wind Energy Association — representing more than 24 WPPs. Under the MOU, the two sides “have agreed to alter their existing contractual arrangements to the extent of, and strictly with respect to, the matters listed…

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ISLAMABAD-The Oil and Gas Regulatory Authority has failed to enforce the maintenance of prescribed storage of petroleum products by the oil marketing companies (OMCs), said petroleum division. While briefing the Economic Coordination Committee (ECC) of the Cabinet, secretary petroleum informed OGRA was responsible to enforce maintenance of prescribed storage capacity of petroleum products by the OMCs, however, it has failed to do so, official documents available with the Nation revealed. The country had faced oil shortage during June and July this year as the OMC didn’t maintain their prescribed storage.…

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Iran is exporting a lot more crude oil than U.S. figures suggest, data from TankerTrackers.com has revealed, as reported by NBC News. According to the data, Iran is exporting as much as 600,000 barrels daily, using ship-to-ship transfers with transponders turned off to avoid detection, skirting U.S. sanctions. The daily average number compares with an estimate of 227,000 bpd made in a U.S. Congressional report, NBC’s Raf Sanchez wrote on Twitter. TankerTrackers.com first reported in 2018, after President Trump reintroduced sanctions on Iranian exports, that Iranian tankers were turning off their transponders…

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ISLAMABAD: Federal Minister for Energy Omar Ayub announced on Wednesday that the new energy policy has been approved for making a major shift to electricity generation to renewable and alternative sources in Pakistan, ARY News reported. Omar Ayub, while addressing a press conference along with Special Assistant to the Prime Minister on Petroleum Division Nadeem Babar in Islamabad today, said that the rate of power generation will be increased up to 20 per cent by using domestic reserves of renewable and alternative electricity projects. He detailed that the country will…

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