ISLAMABAD: Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production (E&P) company, has launched natural gas production from the Uch-35 development well in Dera Bugti, Balochistan. The announcement, made to the Pakistan Stock Exchange (PSX) on Wednesday, marks a key step in the company’s strategic growth. OGDCL reported that the Uch-35 well was drilled to a depth…
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ISLAMABAD: The Power Division has reportedly fallen behind on a majority of tasks assigned by the Prime Minister’s Office (PMO) through the Task Management System (TMS), including the critical establishment of a competitive electricity market. Of the 147 tasks assigned, only 53 have been completed, with 77 overdue and 17 still in progress, according to PMO sources. The review highlighted…
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ISLAMABAD: Development Finance Institutions (DFIs) with financial stakes in Independent Power Producers (IPPs) have approached the National Electric Power Regulatory Authority (NEPRA) Chairman to revise tariff determinations, adjusting the benchmark interest rate from the London Interbank Offered Rate (LIBOR) to Term SOFR (Secured Overnight Financing Rate) plus Credit Adjustment Spread (CAS), sources in NEPRA report. DFIs, including the Asian Development…
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ISLAMABAD: The Sustainable Development Policy Institute (SDPI) and the Embassy of Denmark in Pakistan have commenced the second phase of their initiative, Unlocking the Potential of Carbon Markets in Pakistan, aimed at enhancing industry and SME access to carbon markets. At a reception attended by diplomats, policymakers, and industry leaders, Danish Ambassador Jakob Linulf highlighted the project’s achievements in bridging…
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At the COP29 World Leaders Climate Action Summit in Baku, Azerbaijan, Prime Minister Shehbaz Sharif called for a global overhaul in climate financing, urging that debt-based funding should no longer be the norm. Addressing the Climate Finance Round Table Conference, organized by Pakistan, PM Shehbaz highlighted the need for innovative, debt-free financing solutions to support developing countries in combating climate…
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Finance minister meets IMF mission chief for introductory talks Pakistan to redirect gas from captive power plants (CPPs) to national grid by January 2025Joint session with power and petroleum divisions to address energy sector challenges ISLAMABAD: The International Monetary Fund (IMF) has requested an in-depth, results-oriented update on Pakistan’s revenue system digitalisation efforts, focusing on AI-driven initiatives to expand the…
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As the demand for affordable, scalable residential energy storage grows across Asia, Africa, and the Middle East, low-voltage systems are emerging as a leading choice for households in Pakistan. Known for their cost-efficiency, safety, and adaptability, these systems help homeowners manage and store energy effectively, fostering energy independence in residential spaces. This article explores the shift toward low-voltage systems in…
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