Pakistan may seek a multibillion-dollar financing window from China to fund 10,000 megawatts solar-powered electricity generation projects, as it is also set to make a new pitch for further expansion of the China-Pakistan Economic Corridor (CPEC) during Prime Minister Shehbaz Sharif’s visit. PM Shehbaz Sharif chaired a meeting on Wednesday to review and finalise the agenda for his maiden visit…
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In order to minimize the energy deficit of the country, the coalition government is again seriously considering restarting work on Iran-Pakistan (IP) Gas Pipeline Project while following the international laws and guidelines, it was learnt by Profit on Tuesday. According to sources, the government is reviewing the whole process for resumption of work on the IP Gas Pipeline Project as there is…
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Engro Powergen Qadirpur Limited (EPQL) CEO Shahab Qader said on Wednesday that his company is looking to use gas from low British thermal unit (BTU) gas fields in the vicinity of Qadirpur to generate cheap and affordable electricity. The company aims to help reduce Pakistan’s import bill by $2 billion by using the cheap energy. In comments to Business Recorder,…
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Oil prices could skyrocket to $150 a barrel next year, and underinvestment in the industry could mean tight supply for the next decade, a JPMorgan energy strategist warned. The bank estimates that oil could stick around $80 a barrel next year in event of a recession. But if supply grows tight, prices could easily soar to $150 a barrel, based…
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Islamabad (Khalid Mustafa) Sui gas companies have decided to import 20 thousand metric tons of LPG per month to meet the energy shortage in winter. The price of which will be 780 dollars per metric ton. And it will not include general sales tax. However, if the Jamshoro Joint Venture Limited (JJVL) LPG extraction plant is made operational, it can produce 9,000 metric…
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ISLAMABAD-Many households and businesses are seeking ways to generate power through their own sources due to the rising costs of electricity. Wind turbines are a terrific method to produce sustainable energy, lower the carbon footprint, and minimise energy costs. Rabia Liaquat, Head of the Department at Energy Systems Engineering, National University of Sciences and Technology (NUST), told WealthPK that compared…
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Amid high energy costs and an impending energy crisis, the government has approved energy and conservation measures preventing the outflow of $1.15 billion per annum. The people of Pakistan are currently paying high electricity prices and yet are suffering from prolonged power outages in addition to circular debt of multi-billion rupees. In their electricity bills, consumers are paying several surcharges…
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October 2022
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President Joe Biden has repeatedly urged U.S. oil companies to step up production in a bid to increase oil supply and ease fuel prices. However, it appears his pleas have been falling on deaf ears considering the dearth of oil and gas exploration–which is, of course, perfectly understandable given his historic hostility toward fossil fuels as well as the very…
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Indus Motor Company Limited (IMC), proudly welcomed the 5th batch of its flagship, Toyota Goth Education Program (T-GEP) matriculates, at a small ceremony held at its headquarters in Karachi. In attendance were IMCs CEO and senior executives and Mr Rehan Usman, General Manager, The Citizens Foundation.Of the total 37 students – 24 girls and 13 boys – 89% or 33…
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