The Pakistani government has ramped up efforts to deregulate petroleum product prices in response to mounting challenges such as fuel smuggling and industry complaints. This move aims to shift public criticism towards oil marketing companies (OMCs) and address issues plaguing the oil sector. Under a directive from the petroleum division, the Oil and Gas Regulatory Authority (Ogra) has been tasked…
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During the recent IRENA General Assembly, member countries emphasized the critical role of sustainable hydropower in accelerating their energy transition efforts. The International Hydropower Association (IHA) played a pivotal role in this dialogue, offering a platform for showcasing good practices, sharing progress, and providing guidance and policy recommendations for enhancing sustainable hydropower. IHA’s CEO, Eddie Rich, and Head of Policy,…
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The Pakistan Petroleum Exploration and Production Companies Association (PPEPCA) has issued a warning, stating that the non-payment of dues by Sui gas companies has reached an alarming Rs1,500 billion as of March 15, 2024. This substantial debt, coupled with recent massive gas tariff increases, is hindering further exploration and production activities in the country. In a letter addressed to Petroleum…
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According to a statement released by the National Center of Meteorology, the United Arab Emirates experienced the highest rainfall in its recent history over the past 24 hours, in many areas, marking the largest since the beginning of climate data recording in 1949. The National Center of Meteorology confirmed that the record-breaking rainfall amounts that fell on the country during…
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Recent data from the Central Power Purchasing Agency (CPPA) reveals a substantial increase in the costs associated with nuclear and local coal power generation in Pakistan, presenting a significant challenge to the energy industry. Nuclear-based power generation has experienced a notable surge in expenses, with operational costs rising by over 17 percent in recent months. This increase has put financial…
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In a significant move, the government is set to introduce the Weighted Average Cost of Gas (WACOG) mechanism to determine gas tariffs, blending local natural gas with imported RLNG. This initiative aims to reduce gas tariffs for various sectors in Punjab, high-end domestic consumers, and RLNG-based power plants, according to senior officials of the Energy Ministry. Prime Minister Shehbaz Sharif…
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Mari Petroleum Company Limited (MARI), a prominent energy and exploration company in Pakistan, has achieved another milestone by successfully drilling and testing an appraisal well in the Mari Ghazij formation located in Mari Development and Production Lease (D&PL), Sindh. In a notice to the Pakistan Stock Exchange (PSX) on Thursday, MARI announced the successful drilling and testing of the third…
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Islamabad: During a meeting with a delegation from the Shanghai Electric Group, Prime Minister Shehbaz Sharif reiterated the government’s commitment to ensuring the safety of Chinese workers in Pakistan. Led by Chairman Wu Lei, the delegation discussed ongoing projects and potential investments in the country. PM Shehbaz assured the delegation of full support to facilitate Chinese investors, particularly in transitioning…
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The United States Agency for International Development (USAID) has announced the launch of the Pakistan Climate Financing Activity, a four-year initiative with a budget of up to $10 million. The program aims to enhance sustainability and climate resilience in Pakistan through innovative projects tailored to the country’s needs. At the launch event, USAID Deputy Mission Director Maura O’Brien highlighted the…
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A recent storm wreaked havoc in the United Arab Emirates and Oman, causing significant flooding and claiming several lives. Despite questions raised about cloud seeding possibly triggering the heavy rains, experts assert that global warming and natural weather patterns were the primary drivers behind the intense rainfall. The storm, which hit Oman initially before impacting the UAE, led to record…
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