China signs 27-year gas deal with QatarEnergy to secure supply
Since Russia’s invasion of Ukraine, competition for LNG has become intense with nations trying to replace Russian supply QatarEnergy has signed a 27-year deal to supply China’s Sinopec with liquefied natural gas (LNG) in the longest such agreement to date, as volatility drives buyers to seek long-term supplies. Since Russia’s invasion of Ukraine in February, competition…
Adil Aziz
Petroleum import bill falls by 2.3% to $6.054 Billion in 4 months
The imports of overall petroleum group declined by 2.31 percent during the first four months of the current fiscal year (2022-23) as compared to the corresponding period of the last year. The total imports of the petroleum group during July-October (2022-23) stood at $ 6,054,093 million, as against the imports of $6,197,285 million last year….
NEPRA TO CONDUCT A PUBLIC HEARING ON KE’S PETITION FOR OCTOBER’S FCA AND QA FOR JULY-SEPTEMBER
NEPRA announced to conduct a public hearing on 30 November over the petition submitted by K-Electric on account of Fuel Charges Adjustments (FCA) for October 2022 and Quarterly Adjustments for July to September 2022. For the month of October, K-Electric has filed a petition for the negative FCA at a rate of PKR 1.883/kWh and…
Planned oil refinery in Gwadar to open new chapter of development
Gwadar, the engine room of the China-Pakistan Economic Corridor (CPEC), is set to be the recipient of a $4.5 billion oil refinery as a Chinese firm has laid down a plan to build an oil refinery with an annual processing capacity of 8 million tons. The Chinese entry came at a time when uncertainty was…
Minor Damage to Pacific Zircon Oil Tanker Vessel
Eastern Pacific Shipping Pte. Ltd. (EPS) has announced that it is investigating an incident involving its managed product tanker Pacific Zircon. The company noted that preliminary reports indicate the vessel was hit by a projectile approximately 150 miles off the coast of Oman at about 15:30 (UTC +4) on November 15. The tanker was carrying a…
Petroleum prices to remain unchanged
The government has decided to keep the prices of petroleum products unchanged for second half of November 2022. Briefing media here on Tuesday, Minister for Finance Senator Ishaq Dar announced the government’s decision to keep the prices of Petrol, High Speed Diesel, Light Diesel, and Kerosene Oil unchanged for for next 15 days. The minister…
Karot project to save 1.4 Million tons coal, reduce annual emission of CO2 by 3.5 Million tons
The Karot Hydropower Project is expected to save 1.4 million tons of standard coal and reduce carbon dioxide emissions by 3.5 million tons each year, Vice General Manager of China Three Gorges International Limited (CTGI) and Chairman of CSAIL Qin Guobin. With a total installed capacity of 720 MW and an annual generating capacity of…
Policy being framed to promote indigenous solar panels manufacturing
Engineering Development Board (EDB) is in process of formulating a Solar Panel Manufacturing Policy to promote local production and meet power needs, rapidly increasing with each passing year. The solar panel manufacturing policy would be linked with national solar energy policy being prepared by Ministry of Power and Renewable Energy Task Force. The glass and…
Leading Chinese companies accept PM’s offer to invest in Pakistan’s solar, infrastructure projects
The leading Chinese companies during the official visit of Prime Minister Shehbaz Sharif to China have shown their keen interest to invest in Pakistan’s solar, water and other infrastructure projects. The prime minister invited the Chinese corporate heads to visit Pakistan and invest in the government’s comprehensive solar power project aimed at generating 10,000 mega watt electricity….
Japanese ambassador assures further invest in Pakistan’s power sector
Japanese ambassador to Pakistan Mr Mitsuhiro Wada on Wednesday said that Japan has been investing in Pakistan’s power sector and assured to further enhance investment in power sector of the country. The ambassador expressed these views in a meeting with Minister of Energy Engr. Khurram Dastgir Khan. The ambassador appreciated the government initiatives for promotion…