Category: Recent Post

ISLAMABAD: The Cabinet Committee on Energy (CCoE) on Thursday did not approve payment of Rs399 billion to independent power producers to let all the members satisfy their conscience in three days if the finalised deals are prudent and no wrong decision is being imposed. Presided over by Minister for Planning and Development Asad Umar, the committee also desired that sponsors of the upcoming LNG terminal should be given maximum confidence to complete their projects and warned some stakeholders that moving the goalposts that discourage private local and foreign investors would…

Read More

SINGAPORE: Pakistan State Oil (PSO) is seeking a liquefied natural gas (LNG) cargo for delivery in April through a tender after a five-year contract with commodity trader Gunvor expired in December, three industry sources told Reuters. If awarded, this will be the state-owned company’s first spot purchase in about three years, two of the sources said. PSO last sought spot cargoes in October, for delivery over November to January, but did not award the tender as demand had dropped amid the coronavirus pandemic and a surge in hydropower generation, one…

Read More

LAHORE: In a bid to cut down reliance on the national grid, Punjab plans to generate over 5,000MW electricity — including 300MW through launch of several small hydropower projects — under short, medium and long-term strategies by 2024. The province has also floated tenders to launch construction of 12 mini hydropower projects before June this year, Dawn has learnt. “Save electricity for yourself and the nation is a slogan of the federal government, but we have slightly changed it for Punjab. ‘Make Electricity for yourself and the nation’ is our slogan,” Punjab…

Read More

ISLAMABAD: As the international market continued its downward journey, state-run Pakistan LNG Limited (PLL) has received cheaper bids for two cargoes of liquefied natural gas (LNG) for deliveries in April. The PLL on Friday said Vitol Bahrain offered the lowest bids of 1.0522 per cent and 10.88933pc of Brent Crude Price for April 5-6 and April 19-20 delivery windows, respectively. This is the lowest bid PLL has secured from the spot market since Sept 22-23, 2020. The LNG prices had since been on a steady increase. The PLL bid results…

Read More

The Sindh Environmental Protection Agency (SEPA) has expressed its disapproval of the car and cement manufacturing plants over non-compliance with green laws and in this regard the authority has also fixed separate hearings to inquire about the position of companies. SEPA Director General Naeem Ahmed Mughal visited different automobile industrial units on Tuesday, including that of Kia Motors and Master Motors, to inspect whether their operations were consistent with the Sindh Environmental Protection Act 2014 and its rules. According to a statement issued by a spokesperson for the Environment, Climate…

Read More