Category: News & Announcement

Global oil demand has yet to peak, says IEA head

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Global oil consumption hasn’t peaked, the head of the International Energy Agency warned, throwing cold water on hopes the coronavirus will cap demand and reduce climate-changing emissions.“In the absence of strong government policies, a sustained economic recovery and low oil prices are likely to take global oil demand back to where it was, and beyond,” Fatih Birol said in an interview.The world consumed last year nearly 100mn barrels a day of oil, and some in the energy industry believe that could mark the peak for global demand. Their hypothesis is…

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Virus Sparks Record Drop In Energy Investment: IEA

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Paris, (APP – UrduPoint / Pakistan Point News – 27th May, 2020 ) :The energy industry is set to suffer a record drop in investment due to the coronavirus fallout, the IEA said on Wednesday, and while renewables are likely to fare better than oil, any swift economic recovery could create a global fuel crunch. In its annual report on energy investments, the Paris-based International Energy Agency (IEA) estimated the plunge will be of the order of one-fifth from 2019 levels, or almost $400 billion, as firms slash spending amid…

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Balancing the budget

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Najeeb Many think this should be a corona budget. Maybe it is more than that – a survival budget for the millions of citizens and businesses who need a lending hand. The pre-Covid-19 economy was saddled with a plethora of headwinds besieging growth to mere 1.9 percent in FY19 and to 2 percent in FY20. Budget FY21 has to design a blockbuster response to a shrinking economy between -0.38 percent and -1.5 percent in FY20 post Covid-19, giving an overwhelming sense of comfort that people remain healthy and that they…

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Diamer Bhasha Dam : An overall view

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There have been few concerns about Diamer Bhasha Dam. Foremost is that Roller Compacted Concrete (RCC) Dam is a rigid structure and has no flexibility against earthquakes. Bhasha Diamer Dam has been under review since the early nineteen eighties by various panels of international consultants and experts including the World Bank’s experts. In eighties Roller Compacted Concrete Dams (RCCD) were in early stages of development. In fact Pakistan at Tarbela was the pioneer in using RCC on a mass scale on replacement of damaged right bank hill and building right…

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Transforming Energy

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The NTDC has correctly noted that the power supply industry (ESI) is currently in the midst of a global change which offers a historic opportunity to our policy and decision-makers to transform this sector from its current centralized top-down mindset to a distributed and forward-looking approach to sustainably serve the electricity demands of the country. The future of the ESI belongs to small, distributed, and renewable power generation technologies interconnected through a combination of intelligent and smart micro, mini, and national grids. Quick, proactive, and aggressive planning and adoption of…

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