Pakistan’s oil and gas sector is facing a major financial crisis, with companies owing the federal government billions in unpaid dues. Prime Minister Shehbaz Sharif has taken notice of the situation, instructing the Petroleum Division to take immediate steps to recover the outstanding amounts. As of last year, over PKR 44.39 billion in royalties is owed by various companies. Key…
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Since May 2023, solar electricity generation has overtaken wind as the leading utility-scale renewable energy source. Higher solar output during the summer months has extended this dominance, with solar generating 9.57 terawatt hours (TWh) more than wind in June alone, according to energy think tank Ember. While this trend is expected to continue through August, wind power is projected to…
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Pakistan’s businesses are rushing to install low-cost Chinese solar panels in response to surging electricity prices, which have made the state-owned grid one of the most expensive in South Asia. Major industries, such as Forward Sports, have dramatically increased their solar capacity to reduce reliance on the costly national power supply. This rapid switch to solar, driven by Pakistan’s harsh…
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India is poised to connect a record 35 gigawatts (GW) of solar and wind energy capacity to its grid by the end of March 2025, as the country accelerates efforts to meet its 2030 clean energy targets. This comes after falling short of a key renewable energy milestone in 2022. Bhupinder Singh Bhalla, India’s top renewable energy official, revealed that…
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Agreement Signed with Total Parco for 50% Stake, Says Chairman ISLAMABAD: Gunvor Group Chairman Torbjorn Tornqvist, alongside Total Energies Vice President Mehmet Celepoglu, met with Prime Minister Shehbaz Sharif on Monday to discuss investment opportunities in Pakistan’s energy sector. During the meeting, PM Sharif emphasized that Pakistan’s economy had stabilized and was on a growth trajectory. He outlined ongoing reforms…
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