Category: News & Announcement

Reaching natural gas production of one billion cubic meters per day (bcm/d) has been one of the three core hydrocarbons resource strategies of Iran since the Islamic Republic began to seriously develop the supergiant South Pars non-associated natural gas field in 1990, alongside producing 5.7 million barrels per day (bpd) of oil and building out a world-class petrochemicals sector. According to Oil Price, over the past week or so, Iran has announced a number of initiatives aimed at increasing gas output from South Pars in order to significantly surpass this 1…

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A study launched on Thursday has revealed that Pakistan’s new long-term power capacity plan has failed to live up to the government’s stated principles of sustainability and affordability. Power demand growth forecasts made under Integrated Generation Capacity Enhancement Plan-2047 (IGCEP-2047) are too high and do not take into account the impact of COVID-19, states the study conducted by Institute of Energy Economics and Financial Analysis (IEEFA) and launched through a webinar held under the auspices of Alliance for Climate Justice an Clean Energy (ACJCE). Owing to the IGCEP’s over-optimistic power…

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The Balochistan government has decided to make two recently established mineral exploration companies autonomous. Presiding over a meeting on Wednesday, Chief Minister Jam Kamal Khan Alyani reviewed the affairs of mineral companies, inclu­ding the Balochistan Mineral Explo­ration Company and Balochistan Mineral Resources Company. The meeting decided to provide legal protection to these companies for making mineral projects under public-private partnership and getting mining leases by introducing new clauses in their rules. Provincial Mines and Mineral Development Secretary Zafar Bukhari briefed the meeting on affairs and objectives of the two companies.…

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ISLAMABAD: Following seemingly good deals with Independent Power Producers (IPPs) under the umbrella of top intelligence agency, the government has decided to reduce rate of Return on Equity (RoE) of government IPPs by 41 per cent to 10 percent from existing 17 per cent in rupee terms, indicating savings of billions of rupees per annum, well informed sources told Business Recorder. For this purpose, the government-owned-projects will approach National Electric Power Regulatory Authority (Nepra) for revision of their tariffs on the basis of revised RoE, after seeking formal approval of…

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A suspicious package was “neutralized” by law enforcement agents at the construction site of a pipeline in Texas, Reuters reported, noting that there was no immediate information provided as to the contents of the package. A drilling crew working on the pipeline discovered the package yesterday and halted work before calling the authorities. A bomb squad neutralized the suspicious object. The $2.3-billion Permian Highway pipeline, a project of Kinder Morgan, has, like many other pipeline projects, drawn criticism from environmentalists. The pipeline passes through sensitive ecosystems in wetland areas and…

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