KARACHI — The Oil and Gas Development Company Limited (OGDCL) has announced the start of gas production from its Uch-35 development well. Drilled to a depth of 1,345 meters using in-house expertise, the well taps into the hydrocarbon-rich Sui Main Limestone (SML) formation, as disclosed in a statement to the Pakistan Stock Exchange on Wednesday. The Uch-35 well is producing…
Read More
ISLAMABAD — The National Transmission and Dispatch Company Limited (NTDC) acknowledged significant delays in executing the power distribution and transmission enhancement investment program, which is funded by multilateral and bilateral partners. Citing challenges in land acquisition and procurement, NTDC stated that these delays are escalating costs and leading to additional commitment charges. During a Senate Standing Committee on Economic Affairs…
Read More
ISLAMABAD — Government delays in finalizing a tariff for Electric Vehicle (EV) charging stations are hindering progress for both investors and consumers, according to sources. The National Electric Power Regulatory Authority (NEPRA) and the National Energy Efficiency and Conservation Authority (NEECA) have yet to agree on a tariff framework, leaving companies like Attock Petroleum Limited (APL) in limbo. APL has…
Read More
ISLAMABAD — Minister for Power Sardar Awais Khan Leghari has called on development partners, including the Asian Development Bank (ADB), to invest in preparing Pakistan’s power Distribution Companies (Discos) for privatisation. The minister shared this proposal during a meeting with an ADB delegation led by Country Director Xiaoqin (Emma) Fan. Discussions centered on energy sector collaboration, with Leghari commending ADB’s…
Read More
BAKU, AZERBAIJAN — Global carbon dioxide emissions are projected to reach an unprecedented 41.6 billion metric tonnes in 2024, intensifying the risks posed by climate change, scientists warned at COP29. The Global Carbon Budget report, released at the UN climate summit, highlights a 1 billion tonne increase from last year’s emissions of 40.6 billion tonnes. Emissions from fossil fuels—coal, oil,…
Read More
KARACHI — The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), through its Acting President Qurrat Ul Ain, has urged the government to extend its winter electricity relief package to small and medium enterprises (SMEs) without the 100,000-unit consumption condition from the prior year. Qurrat Ul Ain suggested that the Rs26/kWh rate apply to all incremental units consumed beyond…
Read More
ISLAMABAD — The federal government is expected to increase petroleum product prices by up to Rs5.90 per litre for the upcoming fortnight, effective November 16. Sources indicate that the ex-depot price of petrol may rise by Rs2.58 per litre, from Rs248.38 to Rs250.96. High-speed diesel (HSD) could see a more substantial increase of Rs5.91 per litre, moving from Rs255.14 to…
Read More
BAKU — The COP29 summit received a promising early boost as major development banks, including the World Bank, pledged to increase climate finance to $120 billion by 2030. This commitment represents a 60% rise from 2023 funding levels, aimed at supporting developing and middle-income countries grappling with the impacts of global warming. “This is a positive step,” noted Irish Climate…
Read More
