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…
Adil Aziz
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…
Oil settles lower in light trading on China demand concerns
OIL prices settled lower on Wednesday as traders weighed concerns over a surge in Covid-19 cases in China, the world’s top oil importer, against the chances easing pandemic restrictions in the country will boost fuel demand. Brent crude futures fell US$1.07, or 1.3 per cent, to settle at US$83.26 a barrel, while US West Texas…
NEPRA awards Karot Hydropower Project and Three Gorges Wind Farm for outstanding performance
National Electric and Power Regulatory Authority awarded Karot Hydropower Project and Three Gorges Wind Farm as “Outstanding Performers”. NEPRA organized the “HSE Recognition and Awards Distribution Ceremony 2022” on Friday December 23, 2022 at the NEPRA Tower, Islamabad. This activity was part of its vision “Power with Safety”. Based on the NEPRAs Assessment criteria, Three…
Russia to ban oil exports to countries with price cap from February
Russia issued a decree to ban oil sales to countries and companies that comply with a price cap agreed by Western countries in response to Moscow’s offensive in Ukraine. “The supply of Russian oil and oil products to foreign legal entities and individuals is prohibited if the contracts for these supplies directly or indirectly” are…
Meeting reviews electricity demand in Gwadar Free Zone
Minister for Planning Development & Special Initiatives Ahsan Iqbal has asked the China Overseas Ports Holding Company Ltd (COPHCL) to provide the exact demand of the electricity for Gwadar Free Zone and share a ten-year plan for electricity consumption by Gwadar Free Zone Company in order to establish the electricity utilization of 300 MW coal-fired…