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KARACHI: Various industrial areas in the city are facing severe low gas pressure despite the federal government’s assurance of uninterrupted gas supply in winter, heads of industry associations said on Tuesday. President SITE Association of Industry Abdul Hadi said the area is still deprived of consistent and committed gas pressure due to which many industrial pockets are struggling to meet export orders which surged after Covid-19 lockdowns were lifted. The federal government had committed in October to provide consistent supply of gas to Karachi industries at substantially increased tariff by…

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The project agreements for construction of Azad Pattan Hydropower Project, under the China-Pakistan Economic Corridor (CPEC), were signed on Tuesday. With an investment of over $1.35 billion and 700.7 megawatts of electricity, the Azad Pattan Project involves no fuel import and will enable the country to move towards cheaper and greener power generation. The agreements, including the implementation agreement and water use agreement, were signed by Azad Jammu and Kashmir (AJK) Electricity Secretary Zafar Mahmood Khan and Azad Pattan Power Private Limited CEO Li Xiaota. The government of Pakistan implementation…

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ISLAMABAD: Pakistan on Tuesday started loading fuel to the 1,100MW nuclear power plant in Karachi for testing in run-up to its commercial operations in April 2021 while the Azad Jammu and Kashmir government signed agreements with a Chinese company for construction of a 700MW hydropower project. A spokesperson for the Pakistan Atomic Energy Commission (PAEC) said fuel loading for the newly built Karachi Nuclear Power Plant Unit-2 (K-2) was started on Tuesday after obtaining fuel load permit from the Pakistan Nuclear Regulatory Authority. K-2 is a pressurised water reactor based…

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ISLAMABAD: Power Division has requested National Electric Power Regulatory Authority (NEPRA) to revise industrial power tariff and abolish Time of Use (ToU) charges in accordance with the decisions of ECC and CCoE. The government took decision to lower tariff for the industrial sector despite finance adviser’s warning that provision of superfluous subsidies in power sector can create hurdles in release of next tranche from the International Monetary Fund (IMF). The country’s circular debt has already reached Rs 2.3 trillion from Rs 1.1 trillion in 2018 when the PTI took over…

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The outlook for the upstream industry has rarely looked so uncertain. After two oil price crashes in five years, market and price risks are at their highest in decades. And upstream spend in 2020 is set to be at its lowest in 15 years. The energy transition and the economic fallout from coronavirus will only make capital allocation decisions that much more difficult. So, what does the future hold? Will oil companies simply harvest the remaining value of their existing oil and gas assets and invest that money in new…

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