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Month: September 2024

Nepra Warns of Rising Costs as Power Sales Drop by 20%

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power-subsidy

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has raised concerns over a 20 percent reduction in electricity sales, warning that this decline could increase capacity payments to independent power producers (IPPs), ultimately burdening consumers through quarterly tariff hikes. During a public hearing on the Central Power Purchasing Agency-Guarantee’s (CPPA-G) petition for August 2024 fuel charge adjustments, it was revealed…

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Pakistan Faces LNG Glut as Power Sector Demand Drops, PSO Faces Operational Hurdles

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lng

ISLAMABAD: Pakistan is grappling with an oversupply of LNG due to a significant drop in demand, primarily from the power sector. This situation has created operational and financial challenges for Pakistan State Oil (PSO), which imports LNG under a long-term agreement with Qatar. The Managing Director of PSO informed the National Assembly’s Standing Committee on Energy (Power Division) that power…

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K-Electric Secures Lowest Bid for 220MW Hybrid Wind-Solar Project

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circular-debt-K-electric-ceo

ISLAMABAD: K-Electric (KE) has announced that Canadian renewable energy firm JCM Power submitted the lowest bid for its 220-megawatt hybrid wind-solar project in Dhabeji, Sindh. The bid, offering an average tariff of Rs8.9189 per unit (approximately 3.0899 US cents), marks a milestone in Pakistan’s renewable energy sector. The project, with a 25-year term, features a tariff structure based on 80%…

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Govt Withdraws 35% Gas Sale Plan, Sets New Guidelines for E&P Firms

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Petroleum

ISLAMABAD: The Petroleum Division has retracted its proposal under the amended Exploration and Production (E&P) Policy 2012, which allowed exploration companies to allocate 35% of future gas discoveries to the private sector over seven years, concluding by 2030. Instead, new guidelines require E&P companies to first recover depleted gas before selling 35% of additional output to the private sector. A…

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Malaysia’s PM to Visit Pakistan in October for Talks on Green Energy

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Malaysia-PM

ISLAMABAD: Malaysian Prime Minister Anwar Ibrahim is expected to visit Pakistan from October 2-4, 2024, following an invitation from Prime Minister Shehbaz Sharif, according to well-placed sources. The visit will feature high-level discussions aimed at strengthening bilateral relations across various sectors, including trade, energy, and green technology. Pakistan is set to present a list of green energy projects for potential…

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81 Industrial Units Shut Down in Sindh Over Five Years Due to Power Crisis, Sindh Assembly Told

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Sindh-Assembly

KARACHI: The Sindh Assembly was informed on Monday that 81 industrial units, including 10 textile mills and five sugar mills, had closed over the past five years due to the ongoing electricity crisis in the province. Parliamentary Secretary for Industries and Commerce, Ali Ahmed, shared the details while responding to lawmakers’ questions, acknowledging that the power shortage had significantly impacted…

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Construction Progress on Dasu Hydropower Project: 15 Key Work Fronts Advancing Steadily

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September 24, 2024 – Chairman WAPDA, Engr Lt Gen Sajjad Ghani (Retd), emphasized the critical importance of the Dasu Hydropower Project in addressing Pakistan’s energy needs with clean, green, and affordable hydropower. He urged for focused efforts to ensure timely project completion during his recent visit to the construction site in Upper Kohistan, Khyber Pakhtunkhwa. The Chairman inspected key project…

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OGDCL Announces Financial Results for Year Ended June 30, 2024, Achieving Highest Ever Quarterly Dividend in Company’s History

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ogdcl

ISLAMABAD, September 23, 2024: The Board of Directors of Oil & Gas Development Company Limited (OGDCL), in its meeting held on Monday, September 23, 2024, in Islamabad, announced the financial results for the fiscal year ended June 30, 2024.OGDCL achieved net sales revenue of Rs. 463.698 billion, with a profit after tax of Rs. 208.976 billion, translating to earnings per…

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NATIONAL POLICY FOR THE CONSERVATION OF ENERGY SHOULD BE INITIATED. SHABBAR ZAIDI.

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New-Malik

Karachi: A lively and impactful seminar with the theme ‘energy crisis: challenges and opportunities’, was held at DHA, SUFFA University, Karachi on Monday.The seminar was organized by Karachi Editors Club in collaboration with DHA, SUFFA Uinversity.Speaking on the occassion former Chairman of FBR, Shabbar Zaidi, in a impassionate speech said that it is the need of the hour that a…

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YanChang Petroleum Eyes Entry into Pakistan’s Energy Market

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New-Project

ISLAMABAD: Pakistan’s Federal Minister for Petroleum, Dr. Musadik Malik, visited YanChang Petroleum, a prominent Chinese energy company, during the 8th Silk Road Expo to explore potential collaboration in the energy sector. This visit emphasized the commitment of both Pakistan and China to strengthen strategic partnerships in energy exploration, innovation, and sustainable development. Dr. Malik was welcomed by YanChang Petroleum’s senior…

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