Category: Shortcode

Iraq’s oil ministry says it exported $11.07bn of oil in March, the highest level in 50 years, as crude oil prices soared in the wake of Russia’s invasion of Ukraine. The record oil export, which accounts for more than 90 percent of Iraq’s income, is a big boost to the state coffers. The second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), Iraq exported “100,563,999 barrels for revenues of $11.07bn, the highest revenue since 1972”, the ministry said. The figures published late on Friday are preliminary data but…

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Tauseef H. Farooqi, Chairman, National Electric Power Regulatory Authority (NEPRA), agreed to establish collaboration with Ghulam Ishaq Khan Institute of Engineering Sciences and Technology to benefit from its faculty research and professional know-how. He held a meeting with Prof Dr Fazal Ahmad Khalid, SI, Rector, GIK Institute. Prof Dr Wasim A Khan, Pro-Rector Academics, deans, directors also attended the meeting. Later, Farooqi addressed the students as well. Holding talks with the rector and academia he said: “We should focus on the areas where we could work together. We could benefit…

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Engro Energy Limited will host Pakistan Energy Symposium at a local hotel in Karachi on 1st April 2022. Theme of this symposium is Ushering the Future of Energy. Engro Energy Limited (EEL), in its efforts to address the opportunities and challenges for market reforms in Pakistan, is organizing this symposium with an aim to bring relevant stakeholders on a platform to deliberate on the challenges of future. Engro Energy’s VP Business Development, Shahab Qader, while expressing his views said “This symposium is a one-of-its-kind initiative by Engro Energy Limited. As…

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Pakistan’s energy sector has been facing potential losses and distortions in the distribution sector for years now, costing the national exchequer billions annually. In 2019 alone, DISCOs posted a loss of Rs171 billion due to less recovery of pending bills and another Rs38 billion due to technical losses. On average, nearly 20 percent of the electricity transmitted to the distribution system is lost the effects of which are borne by end consumers. Due to these losses as well as reliance on imported fuels, Pakistan’s power generation costs are disproportionately high.…

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Amid massive electricity load-shedding up to 10 hours across the country, the government on Thursday stopped gas supply to CNG stations and reduced it by 50 per cent to the captive power plants (CPPs) of the export industry to increase the gas supply to power plants. Yes, we have taken this action to increase the gas supply to the power sector for an increase in electricity generation,” a senior official at the Energy Ministry confirmed to The News. He said the demand of the power sector for gas stands at…

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