NEPRA concludes public hearing into KE’s FCA, 1st quarter adjustment
National Electric Power Regulatory Authority (NEPRA) concluded a public hearing on the monthly fuel adjustment (FCA) for October and 1st quarterly adjustment (July-September) for the current fiscal year 2022-23 of K-Electric. The hearing was presided over by NEPRA Chairman engineer Tauseef H Farooqi while member Sindh engineer Rafique Ahmed Shaikh and member Khyber-Pakhtunkhwa engineer Maqsood…
Adil Aziz
Rs431.45 Million being spent on gasification of SEZs, industrial park in 2022-23
The two state-owned companies, Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) are currently in process of executing at least three strategic projects to supply gas to two Special Economic Zones (SEZs) and an industrial park in their respective areas to boost industrial production. For this purpose, the government has allocated…
16 oil and gas reservoirs discover during the last fiscal year
Exploration and Production (E&P) companies, operating in different parts of the country, have collectively discovered 16 oil and gas reservoirs during the last fiscal year in pursuit of making the country self-reliant in the energy sector. Out of these, ten discoveries were made in the oil and gas fields of Sindh, four in Khyber Pakhtunkhwa,…
CPEC energy projects offer low-cost electricity for Pakistan
China Pakistan Economic Corridor (CPEC) energy projects have improved the power industry in Pakistan and contributed to economic growth by increasing power supply with high efficiency at lower cost, Tauseef H. Farooqi, Chairman National Electric Power Regulatory Authority (NEPRA) said. In an interview with China Economic Net (CEN), the Chairman said, the total installed capacity…
OGDCL conducts 221 Line-km 2D seismic surveys in 1st quarter of FY 2022-23
Oil and Gas Development Company Limited (OGDCL), during the first quarter of the current fiscal year, carried out 221 Line-km 2D and 21 Square-KM 3D seismic surveys in its various operational areas to discover hydrocarbon reserves. “The acquired 221 Line km of 2D seismic data and 21 Sq. km of 3D seismic data represents 49%…
Oil sinks for third week as EU strives for price-cap compromise
OIL headed for a third weekly loss as the European Union weighed a higher-than-expected price cap on Russian crude and slowdown concerns threatened the demand outlook. Brent traded below US$86 a barrel, putting the global benchmark on course for a drop of more than 2 per cent this week. European diplomats remain locked in talks over…
Chinese investments helping Pakistan diversify its energy mix: President
President Dr Arif Alvi said the Chinese investment and contributions to Pakistan’s energy infrastructure were increasing the country’s ability to diversify its energy mix based on nuclear, hydel, solar and wind energy in a bid to help meet its energy needs. The president stressed focusing on alternate and renewable energy sources such as solar and…
Shell Pakistan signs ABHI as first customer for Voluntary Carbon compensation offer
Shell Pakistan Limited signed ABHI, Pakistan’s first financial wellness platform, as its first official customer for the launch of its new voluntary carbon compensation program. This program provides an avenue for all ABHI employees who are using Shell Fuel Cards to offset hard-to-abate carbon emissions from their fuel consumption by using Shell’s global portfolio of…
Oil Drops as EU Weighs Higher Russian Fuel Price Cap
Oil tumbled to near a two-month low as traders assessed a higher-than-expected price cap on Russian crude between $65 and $70 a barrel and a surprise build in US products. The European Union’s proposed range would be well above Russia’s cost of production and higher than some countries have been paying for its oil. As…
Oil prices steady amid China demand worries, dollar retreat
Oil prices were little changed on Tuesday as global recession worries and concerns about China’s rising COVID-19 case numbers denting demand from the world’s top crude oil importer were offset by the positive impact of a retreat in the U.S. dollar. Brent crude futures rose 30 cents, or 0.3%, to $87.75 by 0731 GMT. U.S….