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Day: October 7, 2024

PPL/ PPL ASIA and Midland Oil Company (MdOC) reach amicable settlement on   Block-8 in Baghdad, Iraq, on October 6, 2024

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mdoc

Karachi, October 7, 2024: The settlement between Pakistan Petroleum Limited (PPL) Asia E&P B.V., a subsidiary of PPL, and Midland Oil Company (MdOC) marks the conclusion of their Exploration, Development and Production Service Contract (EDPSC) for Block-8, Iraq, which expired in May 2022. Efforts to resolve the lingering settlement from 2022 involved addressing longstanding disputes and claims between the parties.…

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Energy Update expresses deepest condolence to China for loss of Chinese nationals in Karachi attack

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Karachi The Energy Update expressed its deepest condolences to the government and affected families from the People’s Republic of China for the loss of two precious lives of Chinese nationals and injuries to another Chinese in the gruesome terror attack near Karachi Airport on the night of October 6, 2024.In its condolence message, Energy Update Managing Editor, Muhammad Naeem Qureshi,…

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Pakistan to Export Rice, Potatoes to Russia, Barter Trade Deal Signed

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pakistan deal with pakistan

Islamabad: Pakistan and Russia have signed their first-ever barter trade agreement during the inaugural Pakistan-Russia Trade Forum, according to recent report. This significant deal aims to strengthen economic ties between the two nations by allowing them to exchange agricultural products without relying on traditional payment systems. The move is particularly important due to payment constraints caused by Western sanctions imposed…

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India Foreign Minister to Visit Pakistan for First Time Since 2015

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India’s External Affairs Minister Subrahmanyam Jaishankar will attend a China-led summit in Pakistan in place of Prime Minister Narendra Modi, the government said late Friday. It’ll be the first visit to Pakistan by an Indian foreign minister since 2015. Jaishankar will lead the delegation at a state-level meeting of the Shanghai Cooperation Organisation starting on Oct. 15, said Randhir Jaiswal, foreign ministry spokesperson.

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Dubai Airports to Launch World’s Largest Rooftop Solar Panel Project

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In a significant move towards sustainability, Dubai Airports has announced a partnership with Etihad Clean Energy Development Company to launch the world’s largest rooftop solar panel project at an airport. The project, slated for completion by 2026, will see the installation of 62,904 solar panels at Dubai International (DXB) and Dubai World Central (DWC). With a capacity of 39MWp, the…

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UN Peacekeepers Warn Israeli Operations in Southern Lebanon Are ‘Extremely Dangerous’

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BEIRUT: The United Nations peacekeeping force (UNIFIL) in southern Lebanon issued a stark warning on Sunday regarding Israeli military activities near their positions. According to UNIFIL, these operations pose significant risks to their personnel and compromise their safety. The peacekeepers highlighted the dangers of the ongoing Israeli Defense Forces (IDF) actions near their position 6-52, located southeast of Maroun al-Ras…

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Geo Great Debate: Urgent Power Sector Reforms Needed for Tariff Relief

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ISLAMABAD: In a heated discussion during the Geo Great Debate—Ker Dalo, Pakistan Kay Liye—on Sunday, experts highlighted that power sector reforms must be executed efficiently if Pakistan is to see any significant relief in electricity tariffs. The debate was part of a larger campaign launched by the Mir Khalil-ur-Rahman Foundation (MKRF) and the Geo-Jang Group, aimed at addressing the country’s…

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Reducing Power Tariffs a Top Priority, Says Energy Minister Awais Leghari

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ISLAMABAD: Federal Minister for Energy, Sardar Awais Ahmad Khan Leghari, emphasized on Sunday that the government is prioritizing efforts to reduce power tariffs and protect consumer interests. Speaking to a private news channel, Leghari highlighted ongoing efforts to cut electricity production costs, including a review of agreements with power plants and independent power producers (IPPs) through mutual cooperation. Leghari acknowledged…

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PPIB Urges K-Electric to Accelerate Feasibility for 300MW Thar Coal Project

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ISLAMABAD: The Private Power & Infrastructure Board (PPIB) has called on K-Electric (KE) to expedite the feasibility, power evacuation, and load flow studies for the 300MW Thar coal-fired project, to initiate the Request for Proposal (RFP) and meet the project’s deadlines, according to sources close to the MD of PPIB. The Special Investment Facilitation Council (SIFC) has mandated PPIB to…

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PM Orders Inclusion of Diamer Bhasha Hydropower Project in CPEC

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ISLAMABAD: Prime Minister Shehbaz Sharif has instructed authorities to incorporate the $8 billion Diamer Bhasha Hydropower Project (DBHP) into the China-Pakistan Economic Corridor (CPEC), sources from the Ministry of Water Resources revealed. The project promises significant benefits, including 6.4 MAF water storage and the generation of 18.1 billion units of electricity annually. While $500 million in foreign financing is secured,…

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