Category: Recent Post

Pakistan Prime Minister Imran Khan has said that China-Pakistan Economic Corridor (CPEC) will be a ‘game changer’ for the motherland, bringing unprecedented prosperity and progress to the country. “It (CPEC) is a project that will take Pakistan to new heights [of prosperity],” Mr. Khan said after witnessing the signing of agreement with China Gezhouba for Azad Pattan hydropower project at a ceremony held at PM Office on Monday. “Pakistan can learn with the progress made by emerging economic power, China, during the last 30 years,” Mr Khan said. He said…

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Taiwan-based TSMC signed a corporate power purchase agreement (CPPA) with Ørsted for the Greater Changhua 2b & 4 offshore wind farm on 8 July. TSMC will offtake the full production from the 920 MW wind farm, making this the largest-ever contract of its kind within renewable energy, according to Ørsted. The contract has been signed with a fixed-price and will be in effect for 20 years, from the moment the project enters commercial operation in 2025/2026. The start of commercial operation is subject to grid availability and Ørsted’s final investment…

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Pakistan’s energy sector has been in perpetual crisis, for one reason or another. From massive load shedding to expensive power and from untargeted subsidies to inefficient transmission networks – either or all keep making a comeback, from time to time. It is 2020 and the problems remain decade old – and getting worse in a few cases. Inaction has caused more damage to the power sector than most actions. And the current government is equally guilty on that account, just as its predecessors. Inaction has not really solved many problems…

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The American Petroleum Institute (API) estimated on Tuesday a build in crude oil inventories of 2.048 million barrels for the week ending July 3. Analysts had predicted an inventory draw of 3.114 million barrels. In the previous week, the API reported a major decrease in crude oil inventories of 8.156 million barrels, after analysts had predicted a much smaller build. It was the largest crude draw this year. WTI was trading slightly down on Tuesday afternoon prior to the API’s data release with prices feeling minor pressure from an increase…

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KARACHI: Pakistan has resumed spot buying of liquefied natural gas (LNG) from the international market after six-month pause as energy demand is ramping up with easing lockdown, it was learnt on Monday. State-run Pakistan LNG Limited (PLL) invited bids for supply of three LNG cargoes – 140,000 cubic meters each – to be delivered in August and September. PLL invited bids from international suppliers for the supply of three LNG cargoes on a delivered ex-ship basis at Port Qasim. The first delivery window is August 27-28, second from September 12-13…

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