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Day: October 31, 2023

UN COP 28, IRENA and Global Renewables Alliance outline roadmap at Pre-COP on fast-tracking the energy transition by tripling renewable power and doubling energy efficiency by 2030

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Renewable-Energy

Abu Dhabi, 30 October 2023: The COP28 Presidency, the International Renewable Energy Agency (IRENA), and the Global Renewables Alliance (GRA) launched a joint report today on the sidelines of the Pre-COP event in Abu Dhabi, titled Tripling Renewable Power and Doubling Energy Efficiency by 2030: Crucial Steps Towards 1.5 °C. The report provides actionable policy recommendations for governments and the private…

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Energy projects sans Chinese IPPs: PPIB resubmits transition from LIBOR to ‘SOFR’

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power-gride

ISLAMABAD: The Private Power and Infrastructure Board (PPIB) has resubmitted the transition from LIBOR to SOFR for energy sector projects sans Chinese IPPs, with the observation that due to manipulation of several financial institutions and weakness in governance oversight of LIBOR as benchmark rate, the Federal Reserve’s Alternative Reference Rate Committee’s recommended SOFR as benchmark rate is more resilient and…

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Power companies seek to charge Rs1.8 per unit more

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crackdown-power

ISLAMABAD: While still reeling under the prolonged application of last year’s Rs135 billion worth of quarterly adjustments, the ex-Wapda distribution com­panies (Discos) have come up with a fresh claim of another Rs22.6bn for the first quarter of FY24 to be charged to consumers acr­oss the country at the rate of about Rs1.8 per unit. The requests have come amid over…

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“OGDCL’s Impressive FY 2022-23: 59% Profit Growth, Final Dividend Declared”

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ogdcl-meeting

ISLAMABAD: The Oil & Gas Development Company Limited (OGDCL) held its 26th Annual General Meeting (AGM) for shareholders on Monday for the financial year 2022-23 at the OGDCL Head Office in Islamabad. The meeting was chaired by the Chairman of the Board of Directors, OGDCL, Mr. Zafar Masud. The Managing Director & CEO of OGDCL, Mr. Ahmed Hayat Lak, along…

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