ISLAMABAD: Pak Arab Refinery Limited (Parco), a leading oil refiner, has announced a long-term investment of up to $1.3 billion to establish a hydrocracker unit aimed at converting furnace oil into petrol and diesel. This project is designed to ensure a sustainable oil supply and enhance energy security in Pakistan. The investment follows the government’s approval of new refinery policy…
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ISLAMABAD: The World Bank has sanctioned a $1 billion loan for Pakistan to support the first phase of the Dassu Hydropower Project, aimed at enhancing and expanding the country’s electricity supply. This funding is directed towards improving electricity provision and expanding access to socio-economic facilities. The Dassu Hydropower Project is poised to be a major development, significantly contributing to the…
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ISLAMABAD: The government is likely to eliminate duties on the import of plant, machinery, equipment, and raw materials used in the manufacturing of solar PV panels in the 2024-25 budget, according to well-informed sources from Business Recorder. The Managing Director of the Private Power Infrastructure Board (PPIB) highlighted that while the Fifth Schedule of the Customs Act, 1969 exempts customs…
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ISLAMABAD: Karachi Electric (KE) has issued a stern warning to the federal and Sindh governments regarding potential widespread power outages and disconnections in Karachi if the provincial government fails to settle Rs 9 billion in reconciled bills. These funds are crucial for system improvements, according to well-informed sources. This urgent message was communicated to top political and public office holders…
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ISLAMABAD: The federal government is caught in a quandary regarding the widespread installation of solar systems nationwide. Bureaucracy warns that solarisation could be disastrous for the existing power sector, while politicians in high offices are skeptical of this view. Interactions with bureaucrats and officials close to politicians reveal that net metering, or solarisation, has become a contentious issue in Islamabad.…
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The International Energy Agency (IEA) reported that global investment in clean energy is set to hit $2 trillion this year, with solar power leading the charge. According to the IEA’s annual World Energy Investment report, investments in solar energy are expected to reach half a trillion dollars, outpacing all other electricity sources combined. “Clean energy investment is setting new records…
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ISLAMABAD: The oil industry has raised objections against Pakistan Railways’ tender specifications, which effectively exclude high-speed diesel (HSD) from local refineries and favor imported products, incurring significant foreign exchange costs. Adil Khattak, Chairman of the Oil Companies Advisory Council (OCAC) and CEO of Attock Refinery Ltd, has formally lodged a complaint with the government regarding the tender for HSD procurement.…
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On June 8, 2024, Awais Leghari, the Federal Minister for Power of the lslamic Republic of Pakistan, visited LONGi’s headquarter, in Xi’an. Mr. Li Zhenguo, founder and President of LONGi, attended and led his Excellency to visit the LONGi Green Energy Smart Energy Exhibition Hall, introducing in detail, the development history of the photovoltaic industry, LONGi’s history, business segments, R&D…
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Liquefied Petroleum Gas (LPG) is a highly versatile energy source widely used for cooking, heating, and even as a fuel for vehicles. Despite its convenience and efficiency, LPG poses significant risks if not handled properly. Ensuring safety in the usage, storage, and transportation of LPG is crucial to prevent accidents. The recent tragic LPG incident in Pakistan serves as a…
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At a critical juncture when there is a worldwide movement towards rapidly shifting from fossil fuels to green energy sources to sustainably power homes, factories, and markets; a conference took place in Islamabad at the end of May 2024 to delve into the history, current state, and future prospects of the Pakistani oil and gas sectors. The Monthly Energy Update,…
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