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Tag Archives: energy sector

EIC Monitor shows decline in energy downstream sector in 1Q15

BRUSSELS: The latest EIC Monitor report once again shows a significant decline in the levels of contracting activity across global upstream, midstream and downstream sectors in 1Q15. Overall figures show the number of major contract awards made since the last quarter contracting by 30% following a previous decline in the preceding quarter. However, despite the overall number of contracts being ... Read More »

EDC says export growth to be muted by 23% drop in Canada energy sector

OTTAWA: Canadian export growth will be muted in 2015 as a 23 per cent drop in the value of energy exports wipes out gains in other areas, according a forecast from Export Development Canada. Exports of aircraft and parts, motor vehicles and parts, industrial equipment, advanced technology, fertilizers and consumer goods are expected to surge this year as the falling ... Read More »

US stocks end weaker, Dow Jones sheds 195.84pts, S&P 500 falls 27.39pts

LONDON: U.S. stocks tumbled broadly at end on Wednesday as a renewed fall in oil value weighed down the energy sector. A statement from the Federal Reserve that it would remain “patient” when it comes to any interest-rate increases failed to give stocks a lift, traders said. Investors had expected the Fed to refrain from making any policy changes at ... Read More »

Govt to spend Rs 2.80 billion on 18 energy projects

ISLAMABAD: Government has decided to spend 2.80 billion on eighteen ongoing development projects in energy development sector to overcome its shortage from Diamer District in Gilgit-Baltistan. Works department sources said that hydel power stations are being set up at Batogah, Darail, Khanbary Gase, Raikot village, reported Radio Pakistan. New transmission lines from Khanbary to Dudushal are also laying besides installation ... Read More »

In a meeting with Dar, USAID hints at bring $43m investment in energy sector

ISLAMABAD: The USAID attaches great importance to the development of Pakistan and that it will be bringing in investment to the tune of $43 million in energy sector in Pakistan. USAID Assistant Administrator for AfPak Affairs Donald Larry Sampler stated this during a meeting with Finance Minister Ishaq Dar here. He was accompanied by US Ambassador in Pakistan Richard G ... Read More »

Lucrative tariff: PakGen considering switching 365MW power plant to coal

ISLAMABAD: What can be described as lucrative tariff offered by the Nepra recently, Independent Power Producer Pakgen Power limited is mulling to convert its furnace-fired 365 MW power plant into coal-fired to get benefit of one of the most lucrative coal based tariff. The Nepra has, recently, announced a lucrative tariff for power generation from coal-fired plants to attract fresh ... Read More »

Add 2,500MW in system by Feb 2015, PM orders ministries

ISLAMABAD: Prime Minister Nawaz Sharif, presiding over a joint ministerial meeting of the energy sector, has ordered the Ministries of Petroleum and Natural Resources, Water & Power and Finance Division to add 2,400 to 2,500MW more electricity in the system by February 2015. The prime minister directed the ministries to control line losses and electricity theft at any costs and ... Read More »

LNG import projects charm Chinese investors

ISLAMABAD: A delegation of Chinese investors has nodded to invest in Pakistan’s energy sector especially in the projects of LNG import and also looked into the other investment opportunities available in the country. The delegation, led by Bank of China International Chief Executive Officer/Chairperson Li Tong, has expressed their interest during a meeting with Minister for Petroleum and Natural Resources ... Read More »