Category: Recent Post

The Aga Khan Agency for Habitat, the Ministry of Climate Change, Pakistan, World Habitat Awards and the United Nations Habitat Programme, co-organized an international virtual seminar on ecosystem restoration for quality of life. The seminar was attended by representatives from the Ministry of Climate Change, the United Nations, INGOs, Aga Khan Development Network (AKDN) agencies and partners, donor agencies, academia, media and community organizations. The virtual seminar, held on 8 June 2021, was part of a series of official events celebrating World Environment Day (WED). Recognizing Pakistan’s global leadership in…

Read More

Liquidity con­straints are taking a toll on China Power Hub Genera­­­tion Company (CPHGC), an early-harvest project under the China-Pakistan Econo­mic Corridor (CPEC). Speaking to Dawn on Wednesday, Hub Power Company (Hubco) outgoing CEO Khalid Mansoor said cash flows of CPHGC, an associate company of the country’s largest independent power producer (IPP), are suffering because the government isn’t fulfilling its commitment. “It’s a concern for us because the government had extended guarantees to the Chinese lenders that it would keep 22 per cent of their invoices in an escrow account on a replenishable…

Read More

ISLAMABAD: As unannounced power cuts continued for the third consecutive day almost across the country, the government on Wednesday confirmed supply shortfalls in the system due to technical reasons despite surplus generation capacity. The National Electric Power Regulatory Authority (Nepra) took serious notice of the excessive loadshedding and sought explanation from power distribution companies (Discos), including K-Electric. Minister for Energy Hammad Azhar, on the other hand, said the shortage was caused by ‘outages’ of some thermal power plants and insufficient supply from Tarbela Dam due to lower water availability. Officials…

Read More

Portfolio managers increased their positions in petroleum last week, reversing roughly half the sales over the previous three weeks, as benchmark oil prices started to break up through the recent ceiling. Hedge funds and other money managers purchased the equivalent of 40 million barrels in the six most important futures and options contracts in the week to June 1, after selling a total of 74 million over the previous three weeks. Purchases were weighted towards crude oil, especially NYMEX and ICE WTI (+21 million barrels), with smaller buying in Brent…

Read More

Oil and Gas Development Company (OGDCL) made five discoveries during the first three quarters of the current fiscal year 2020-21, with the preliminary reserves estimates are 53.03 billion cubic feet of gas and 0.84 million barrels of oil, a combined 10.32 million barrels of oil equivalent. According to the company’s third quarterly financial report for 2020-21, per day estimated production of these reserves is around 18 million cubic feet (MMCF) of gas and 849 barrels of oil. The discoveries include Togh Bala-1, Siab-1 (Samanasuk) and Siab-1 (Lumshiwal/Hangu) in district Kohat,…

Read More