Category: Recent Post

ANALYSIS: What IPPs ‘deal’ means for power sector investment

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THE government has extracted concessions worth several hundred billion rupees in future payments to the 47 independent power producers (IPPs) set up between 1990 and 2013 by forcing their hand but the ‘deal’ has left a bad taste in the mouths of their investors. The government has secured the lucrative deal in exchange for promises of payment of Rs403 billion it owes to the IPPs. What makes the bargain sweeter for the government is the fact that it will pay only a third of the amount in cash; the remainder…

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CCOE approves pipeline allocation

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The Cabinet Committee on Energy (CCOE) has approved a report of the sub-committee that recommended the allocation of pipeline capacity for liquefied natural gas (LNG) imports on a three-month rolling basis. A meeting of the cabinet body was held under the chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar on Monday. The CCOE approved the report of the sub-committee constituted by the CCOE vide its decision taken on January 18, 2021 regarding allocation of pipeline capacity to new LNG terminals, with the aim of encouraging investment…

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Hedge funds bet on oil’s ‘big comeback’ after pandemic hobbles producers

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Such limitations on supply would push prices to multi-year highs and keep them there for two years or more, several hedge funds said. The view is a reversal for hedge funds, which shorted the oil sector in the lead-up to global shutdowns, landing energy focused hedge funds gains of 26.8% in 2020, according to data from eVestment. By virtue of their fast-moving strategies, hedge funds are quick to spot new trends. Global oil benchmark Brent has jumped 59% since early November when news of successful vaccines emerged, after COVID-19 travel…

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President Biden Freezes New Oil and Gas Leases and Pauses Permits on Federal Lands and Offshore

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On his first full day in office, President Biden indicated that the moderate Joe Biden we were all expecting might not be appearing on oil and gas issues and his administration’s energy policies would be informed by the more progressive wing of the Democratic Party. On January 21, an acting Secretary of the Interior issued Order 3395, which imposes a 60-day pause on the issuance of new leases and permits for oil and gas drilling on federal lands and offshore, without being approved by one of nine senior Department of…

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Pakistan to produce energy from waste

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The concept of utilising waste to generate energy might soon be introduced in Pakistan and the ministries concerned would be educated about the technology, said Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Nasser Hyatt Maggo. In a meeting with a delegation of Pakistan Plastic Manufacturers Association on Tuesday, he said Chinese innovation and introduction of waste recycling was gaining traction in Pakistan. “Pakistan’s exports are concentrated in only a few products and a handful of markets,” he said, stressing that the country should focus on non-traditional goods. The…

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