Category: News & Announcement

LAHORE: Electricity demand may go down by 25-30 percent if the economic downturn and corona impact continues, said Pakistan Electric Power Company (PEPCO) sources. Already, they said, winter is gone with traditional low demand as low as 50 percent of the summer demand. The current demand for electricity has reduced to 13,000 megawatt comparing with 17,500 megawatt of March-April 2019, they added. They said a lockdown in the country since March 24th has curtailed the industrial load exceptionally. Similarly, there is a complete closure of hotels and commercial activities in…

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The government continues to be in search of a way out for reducing or arresting the projected increase in gas and electricity tariff. I have also been arguing the need for cheaper LPG rates, at least for the poor. In this space, we will discuss the prospects and impact of falling oil prices on Pakistan’s energy sector – on both producers and consumers. Oil prices had already come down much before Corona. Initially, there was an oil price war between the two major oil producers – Saudi Arabia and Russia…

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Saad al-Kaabi, who heads the energy portfolio of the world’s top liquefied natural gas (LNG) supplier, also said the company could seek to raise debt next year for its domestic North Field LNG expansion. Qatar, a tiny but wealthy country is one of the most influential LNG market players with annual production of 77 million tonnes. It plans to increase its LNG production to 126 million tonnes a year by 2027. Kaabi told Reuters QP will postpone the start of production from its new gas facilities until 2025 following a…

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World’s 11th-Largest Economy Hearts Renewable Energy One key state is New York State, which by some measures would be the world’s 11th-largest economy if it was an independent country. On Friday, April 3, New York announced the passage of enabling legislation for its new clean power plans. If that date rings a bell, April 3 is the same day that seven top oil and gas executives went to the White House to discuss the plight of their industry. If that’s not a clapback, nothing is. Along with the now-familiar goal of creating…

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The gas giant Gazprom is no longer in the spotlight after the US Treasury sanctioned Rosneft, the Russian national oil company, most probably triggering the collapse of the OPEC+ agreement and bringing about an unexpectedly low pricing environment for March 2020 within both the oil and gas segments. Having launched Power of Siberia to China, Gazprom is now intent on bringing Nord Stream-2 online before the end of the year, moving its own pipe-laying vessel from the Russian Far East to the Baltic region to deliver on all its major…

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