Solarization – sincere efforts needed to curtail energy crisis
Amidst economic challenges and fluctuating fuel prices the world over and within the country, exploring alternate energy resources has become imperative for curtailing fuel import bill and providing cheaper energy to domestic, commercial and industrial consumers. With most of world nations already using solar, wind and hydel power as major chunk of their energy base,…
Adil Aziz
Oil prices rise US$1 on China’s reopening optimism
OIL prices rose as much as US$1 on Friday, extending gains from the previous trading session on hopes of a China demand boost and after data showed lower fuel inventories in the United States following a winter storm that hit during the year end. Brent crude futures were 94 cents, or 1.2 per cent, higher…
Oil falls by more than 5% on global economy worry, China Covid cases
OIL fell by more than US$4 a barrel on Wednesday (Jan 4), with Brent suffering its biggest percentage loss in the first two trading days of the year since 1991, as demand concerns linked to the global economy and rising Covid-19 cases in China crushed crude prices. Brent futures settled at US$77.84 a barrel, falling…
Investment under CPEC to reach $62 Billion by 2030: Report
The total planned investment under China Pakistan Economic Corridor (CPEC) is $62 billion between FY2015 and FY2030, out of which $27.4 billion projects have been realized, with energy sector (power generation, coal mining and transmission lines) representing 76 percent. It covers power generation projects, both fossil fuel and renewable, of about 11 GW. To date,…
Planning minister reviews 300 MW Coal Fired Power Project
Minister for Planning, Development and Special Initiatives, Professor Ahsan Iqbal directed Ministry for Maritime Affairs, Power Division, Gwadar Port Authority (GPA) and China Overseas Ports Holding Company Ltd (COPHCL) to ensure 100 percent power consumption to 300 MW Coal Fired Power Project in order to avoid any financial loss to the national exchequer. The minister…
Cabinet okays ‘National Energy Conservation Plan’
The Federal Cabinet approved the National Energy Conservation Plan, introducing certain measures to ensure judicious utilization of national resources. “The approval to the Conservation Plan has been accorded in line with the advice of the Power Division. It will come into force at once across the country,” the Defence Minister said while unveiling the salient…
No large scale privatization of DISCOs on card: Khurram Dastgir
Minister for Power Division Khurram Dastgir said currently no large-scale privatization of power distribution companies (DISCOs) was on card adding that efforts were being made to control power sector losses. Addressing a press conference along with Minister for Defence Khawaja Muhammad Asif, Minister for Information and Broadcasting Marriyum Aurangzeb, Minister for Climate Change Sherry Rehman,…
Grim IMF Forecast And Negative Chinese Data Weighs On Oil Prices
The latest climb in oil prices was briefly interrupted early on Tuesday morning as bearish sentiment continues to build. A forecast by the International Monetary Fund that a third of the world’s economies are about to slide into a recession this year was particularly worrying. At the same time, Chinese manufacturing data suggests a wave of Covid…
Prices of petroleum products to remain unchanged
Minister for Finance and Revenue Senator Muhammad Ishaq Dar here on Saturday said that the government has decided to keep the existing prices of petroleum products unchanged for next 15 days to facilitate the masses in the country, particularly to provide relief to lower-income people during intense winters. Addressing a press conference, the minister said…
Oil drops on China uncertainty; US demand limits decline
OIL prices fell for a second straight session on Thursday (Dec 29) on an uncertain demand outlook as more countries considered restrictions on Chinese travellers with Covid-19 infections spreading in the top oil-importing nation. China’s government is dismantling pandemic restrictions, yet a surge in infections there is prompting tougher travel rules on Chinese visitors in…