August 2023
Read MoreMonthly Energy Update August Magazine
Month: August 2023
Shell Pakistan posts Rs3.5bn PAT for H1 2023
KARACHI: The Board of Directors of Shell Pakistan Limited (SPL) announced half year results for the company on August 16. The company posted a profit after tax of Rs 3.5 billion compared to the profit after tax of Rs 7.5 billion made in the same period last year. On June 14th, 2023, Shell Petroleum Company Limited, a subsidiary of Shell…
Read MoreClimate change strains Pakistan’s energy sector
Experts suggest taking measures to address impacts of rising temperatures LAHORE – Climate change-induced heat stress has negatively impacted Pakistan’s economy, especially the energy sector. As per the experts, the consequences of temperature increase on different factors like labour productivity, household consumption habits, and living standards were contingent on whether the temperature moves closer to or deviates further from the…
Read MoreEnergy firm gets listing status via reverse merger
KARACHI: A subsidiary of IT firm Supernet Ltd has acquired majority shares in Hallmark Company Ltd as part of a reverse merger to attain the listing status. The reverse merger allows a private entity — Super Infrastructure Solutions Ltd in this case — to become a publicly traded firm simply by purchasing controlling shares in a listed entity. In other…
Read MoreGovt increases petrol price to record high
ISLAMABAD: The prices of petrol and diesel hit a record high on Tuesday, as the newly installed caretaker government raised fuel prices by up to Rs20 per litre, another second massive hike in a fortnight that is likely to further stoke inflation, which had cooled over the past two months. The new petrol price will be Rs290.45 per litre from…
Read MoreKakar for expediting ongoing projects
ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar has directed the concerned authorities to work on the ongoing projects on priority and to prepare and present a briefing on the proposed projects. The caretaker premier was given a briefing on the important issues of various ministries. The meeting was informed in detail about the ongoing work on the Panjra Bridge on the…
Read MoreRecovery of Rs24.5bn from KE consumers: Govt seeks to impose Rs1.52/unit surcharge
ISLAMABAD: The federal government seeks to impose Rs1.52 per unit surcharge on K-Electric (KE) to recover Rs24.5 billion. As soon as the public hearing regarding the motion of the federal government with respect to the recommendation of consumer end tariff for K-Electric started at National Electric Power Regulatory Authority (Nepra), some members expressed reservations about the performance of the Power…
Read MoreIndependence Day Gift: Get Ready for Another Big Increase in Petrol Prices
Fuel prices in Pakistan are likely to see an upward revision starting August 16 as the caretaker government is all set to announce an increase of up to Rs. 20. Pakistan is celebrating its 77th Independence Day today, but the news of another massive increase in prices of fuel is set to break the spirits of average Pakistanis. Petrol prices…
Read MorePRL says Russian crude ‘technically, commercially feasible’
KARACHI: The Pakistan Refinery Limited (PRL) has said that it would again process Russian crude “when available at favourable commercial terms”, denying the impression that it has suspended the use of Russian crude oil because of processing issues. In a release on Sunday, the refinery insisted that Russian crude was successfully processed and the “spot deal was technically and commercially…
Read MoreSSGC board gets six new members
ISLAMABAD: The coalition government headed by former prime minister Shehbaz Sharif in its last week reconstituted the board of directors (BoDs) of Sui Southern Gas Company (SSGC) by adding six new independent members. However, Dr Shamshad Akhter will continue to serve as chairperson of the board, a senior official of the Ministry of Energy told ‘The News’. According to the…
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