Category: Shortcode

Australia LNG workers begin 24-hour strike

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lng

SYDNEY: Australia’s Offshore Alliance union said on Saturday workers had begun a 24-hour strike at Chevron’s liquefied natural gas (LNG) plants in western Australia, as part of a ramp-up in industrial action that could see strikes extended until mid-October. The full strike comes after workers on Thursday escalated what had been six days of limited action. Until the end of September, members of Offshore Alliance, a coalition of two unions, can now strike for up to 24 hours each day and refuse tasks such as loading LNG tankers. The company’s…

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Amid rupee devaluation: Foreign-funded, dollar-indexed power generators jolt Pak energy sector

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dollar-indexed

ISLAMABAD: The US dollar-indexed power generators which are mostly privately owned and foreign-funded have caused turmoil in Pakistan’s power sector. Coupled with the devaluation of the rupee, the situation highlights the potential relief that could have been attained had these projects been financed domestically. Remarkably, Re-gasified Liquefied Natural Gas (RLNG)-based power generation in foreign-funded projects proved to be the most economical, with minimal exposure to fluctuations in the dollar’s value. Comparing RLNG plants with coal-based projects, the latter was costlier with times higher capacity payments. Of Pakistan’s derated power generation…

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High-end gas consumers likely to pay more to save protected consumers

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Gas-tariff

ISLAMABAD: As the IMF has linked an increase in gas tariff for allowing power consumers to pay bills in three-month instalments, the caretaker government has intensified its endeavour to finalize the natural gas price increase proposals under which high-end consumers will pay the maximum to prevent protected low-end consumers from the price shock. Background discussions with senior officials of the Petroleum Division suggest there are 12 slabs for domestic consumers out of which the first four slabs of consumers utilizing gas up to 0.25 HM3, 0.5 HM3, 0.6HM3 and 0.9hm3…

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Future of Discos: Govt advised to take stakeholders into confidence

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CDMP-SBA

Annual financial loss of Discos is around Rs 600 billion on account of losses and under recovery ISLAMABAD: The country’s prime intelligence agency has reportedly proposed to the government to take all relevant stakeholders on board in deciding the future of power Distribution Companies (Discos) to ensure a transparent, successful and sustainable transition, well informed sources in Finance Ministry told Business Recorder. The Intelligence Agency, which played a key role in renegotiation of Agreements with Independent Power Producers (IPPs) and deal with Turkish company M/s Karkey, has offered its comments on…

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Power theft crackdown shows results: minister

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Caretaker-Minister

ISLAMABAD: Caretaker Minister for Energy, Power, and Petroleum, Muhammad Ali, stated on Saturday that the government’s strict drive against power theft was delivering promising outcomes, and there would be no compromises in the fight against these illicit activities. In an interview with a private news channel, he emphasised that effective measures were being implemented to enhance the power supply system, with the eradication of power theft being a top priority. Ali affirmed that the government was taking practical steps to ensure an uninterrupted gas supply during the winter season, highlighting…

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