The price of petrol and diesel in Pakistan may increase from May 1, sources told Geo News on Friday. The price of petrol may increase by Rs5.75 per litre while the price of diesel may increase by Rs6 per litre, said sources. The Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to the Petroleum Division. In it, the recommended prices…
Read MoreYear: 2021
PPL’s profit falls 15% to Rs12 billion
Pakistan Petroleum Limited’s profit dipped 15% to Rs12 billion in the quarter ended March 31, 2021 on the back of a contraction in sales and fall in other income. According to a notice sent to the Pakistan Stock Exchange on Thursday, the oil and gas exploration and production firm had reported a profit of Rs14.1 billion in the same quarter…
Read MorePakistan’s weight may remain around 0.02pc in MSCI EM
Pakistan’s weight is likely to remain around 0.02 percent in MSCI EM in the MSCI May 2021 Semi Annual Index Review, experts said. MSCI will be releasing the results of the MSCI May 2021 Semi-Annual Index Review on May 11, 2021. Announcement is expected to be made available shortly after 11pm Central European Summer Time (CEST), ie, 02am Pakistan Standard…
Read MoreGovt to merge AEDB and PPIB
The government has decided to merge the Alternative Energy Development Board (AEDB) and the Private Power and Infrastructure Board (PPIB) for ease of doing business in the power sector. As envisioned by the government under the ease of doing business initiative, work on the merger of AEDB into PPIB is in full swing for processing power projects of all technologies,…
Read MoreS Korea’s LNG demand forecast to rise 15% through 2034: ministry
South Korea’s energy ministry said April 27 that the country’s LNG demand is expected to rise 15.1% through 2034 on the back of higher LNG demand for bunkering and hydrogen fuel cell cars, as well as a government-led push to reduce power generation by coal and nuclear. The country’s LNG demand is forecast to grow to 47.97 million mt in…
Read MoreStudy: Expanding Renewable Energy in Illinois to 40% by 2031 Will Save Consumers and Businesses $1.21 Billion
A study performed by the Power Bureau, led by former Illinois Power Agency Director Mark Pruitt, finds that fully funding the expansion of Illinois’ renewable energy program will result in lower electric bills for Illinois ratepayers. The study, “Cost Analysis of Renewable Energy Deployment in Illinois,” compared the additional funding needed to reach a 40% renewable energy goal with the impact…
Read MoreRenewable Energy Is Suddenly Startlingly Cheap
Earth Week has come and gone, leaving behind an ankle-deep and green-tinted drift of reports, press releases, and earnest promises from C.E.O.s and premiers alike that they are planning to become part of the solution. There were contingent signs of real possibility—if some of the heads of state whom John Kerry called on to make Zoom speeches appeared a little…
Read MoreMalaysia’s Petronas adds three new vessels to global LNG fleet
Malaysia’s state oil firm Petroliam Nasional Bhd has expanded its global liquefied natural gas (LNG) fleet with three newbuild 174,000 cubic metres vessels, the company said on Thursday. The firm has signed an agreement with shipowner Hyundai LNG Shipping for the vessels that are expected to be delivered from the second quarter of 2024 and will mainly be used to…
Read MoreNTDC, Pak MLTC agree to extend project’s COD by six months
The government has extended the Commercial Operations Date (COD) of 660 kV HVDC Matiari – Lahore Transmission Line CPEC portfolio project from 1st March to 1st September 2021. Federal Minister for Energy (Power Division) Muhammad Hammad Azhar witnessed the agreement signing ceremony of addendum /amendment in agreement for 660 kV HVDC Matiari – Lahore Transmission Line Project between NTDC and…
Read MoreTarin defers decision on IPP payments, LNG subsidy
ISLAMABAD: In his maiden meeting of the Economic Coordination Committee (ECC) of the cabinet, Finance Minister Shaukat Tarin deferred taking a decision on two crucial agenda items — payments to independent power producers (IPPs) and how to go ahead with subsidy on LNG supplies to export industries. Presiding over the ECC meeting, the newly inducted finance minister constituted two smaller…
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