Month: February 2024

Pakistan’s power sector lags behind in clean energy transition, study says

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Power-generation

KARACHI: Pakistan’s power sector has been slow to adopt clean and renewable energy sources, ranking 107 out of 120 countries on the global Energy Transition Index (ETI) in 2023, a study by a local rating agency said on Wednesday. The low ETI score of 46.9 reflects a lack of sufficient initiatives to align with the country’s commitment to energy transition efforts, the Pakistan Credit Rating Agency (PACRA) said in its report on the power sector. Pakistan’s power sector has been confronting deep-rooted issues for a long time, with key risks…

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LPG prices increased for Feb 2024

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LPG-plant

ISLAMABAD: The caretaker government Wednesday increased the price of a domestic 11.8-kilogram liquefied petroleum gas (LPG) cylinder by Rs13.76 for February 2024, as per a notification from the Oil and Gas Regulatory Authority (Ogra). The LPG prices have witnessed an increase of Rs1.16/kg, rising from Rs256.43/kg in January to Rs275.59 in February. In a statement, the regulator said: “The LPG producer price is linked with Saudi Aramco-CP and US$ dollar exchange rate. As compared to the previous month Saudi Aramco-CP has increased by 1.6 percent. The average Dollar exchange rate…

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Tight Gas Policy 2024: Pakistan offers investors $7.5 wellhead price for tight gas discovery

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gas-prices

ISLAMABAD: The federal government has introduced the Tight Gas (Exploration & Production) Policy 2024, focusing on an innovative pricing strategy to encourage efforts in exploring and producing unconventional hydrocarbon reserves. The policy aims to promote activities in this sector by offering a significant 40 per cent premium on the zonal price, defined in the Petroleum (Exploration and Production) Policy 2012. The Council of Common Interests (CCI) approved the policy on Tuesday, and it would take effect upon official notification. The initiative applies to all qualifying tight gas discoveries, whether they…

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