Reko Diq Investment Deal Near Completion$10bn Refinery Project Under ConsiderationISLAMABAD: The government is finalizing a new blended gas pricing mechanism aimed at reducing power costs by merging liquefied natural gas (LNG) pricing with wellhead and pipeline gas. This will ensure competitive rates across all consumer categories, as disclosed by Petroleum Minister Dr. Musadik Malik. Speaking to the media, Dr. Malik…
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In a significant development for Pakistan’s energy infrastructure, the signing ceremony of Consortium Agreement between the Stakeholders for Machike-Thallian-Tarujabba White Oil Pipeline Project has been held on September 4,2024 at SIFC Secretariat, PM Office. The ceremony was witnessed by Federal Minister for Petroleum Dr. Musadik Malik , DG Special Investment Facilitation Council (SIFC) Major General Asad Rehman and Chairman OGRA…
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ISLAMABAD: Energy experts are calling for the privatisation of Pakistan’s electricity distribution companies (DISCOs) as a vital step toward their reform. During a consultation organized by the Parliamentary Forum on Energy and Economy, stakeholders discussed the future of DISCOs, emphasizing the need for improved governance and efficiency. National Assembly Speaker Ayaz Sadiq highlighted the challenges posed by high power tariffs,…
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KARACHI: Pakistan has made a major breakthrough in its energy sector with the discovery of substantial gas reserves estimated at 351.2 billion cubic feet (BCF) in the Shewa fields of North Waziristan. This new find is expected to contribute 70 million cubic feet per day (mmcfd) to the national grid, increasing the country’s domestic gas production by over 3% daily…
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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) Chairman on Tuesday barred participants from discussing the renewal of independent power producers’ (IPPs) contracts during a public hearing, stating that it was not the appropriate forum for such a debate. During the hearing, interveners raised concerns about the capacity payments charged by IPPs and called for a forensic audit of their…
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ISLAMABAD: Finance Minister Muhammad Aurangzeb reaffirmed on Tuesday that Pakistan is on the right track to achieving macroeconomic stability, emphasizing the importance of securing external financing to finalize the $7 billion IMF bailout package. He stressed the need for structural reforms, warning provincial governments against populist measures like energy subsidies. In a televised address, Aurangzeb highlighted significant economic progress, including…
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KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has called on the National Electric Power Regulatory Authority (Nepra) to urgently convene a hearing with all relevant stakeholders to resolve critical issues surrounding K-Electric (KE) that are adversely affecting both industrial and residential consumers in Karachi. In a letter addressed to Nepra Chairman Waseem Mukhtar, KCCI President Iftikhar Ahmed Sheikh…
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Lahore – The Solar Technology Excellence Awards 2024, a prestigious event celebrating innovation and leadership in the solar energy sector, was held at a local hotel in Lahore. The ceremony, organized by Energy Update in partnership with the Ministry of Energy (Power Division), Private Power Infrastructure Board (PPIB), and Pakistan Solar Association, recognized 28 companies for their outstanding contributions to…
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KARACHI: Imran Maniar has resigned from his position as Chief Executive Officer (CEO) and Managing Director (MD) of Sui Southern Gas Company Limited (SSGC) to pursue other opportunities, as stated in a notice issued by SSGC to the Pakistan Stock Exchange (PSX) on Tuesday. In an emergent board meeting held on September 2, 2024, SSGC’s Board of Directors accepted Maniar’s…
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ISLAMABAD: Ishaq Dar, Chairman of the high-level committee on oil and gas, has rejected the Petroleum Division‘s proposed framework for allocating discovered gas to third parties. Emphasizing that the government will not alter a policy already approved by the Council of Common Interests (CCI), Dar instructed the Petroleum Division to submit a revised draft within 15 days. The Petroleum Division…
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