You are here

Day: November 25, 2024

E&P Companies Suffer Over Rs50 Billion Loss Due to Reduced Gas Outflows

Admin
Gas-Project

ISLAMABAD: Pakistan’s Exploration and Production (E&P) companies, including OGDCL, Mari Petroleum, PPL, and MOL, incurred losses exceeding Rs50 billion from 2021 to 2024 due to curtailed gas outflows by gas companies attempting to manage line pack pressure in the national transmission system. A senior Energy Ministry official highlighted that reducing gas outflows, particularly from wells nearing depletion, poses significant risks.…

Read More

PM Approves Gas Sale Mechanism Proposed by Dar-Led Task Force

Admin
OGRA-GAS

ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday endorsed the implementation framework approved by Deputy PM Ishaq Dar’s 20-member task force on November 18, which allows Exploration and Production (E&P) companies to auction and sell 35% of gas from future wells to the private sector. The Council of Common Interests (CCI) had given its nod to the amended E&P policy and…

Read More

Record Drop in Prices of Solar Panels and Batteries Amid Declining Demand

Admin
Solar-Panels

LAHORE: The prices of solar panels and batteries have seen a significant reduction in Pakistan due to a notable decline in demand. Market sources report that the cost of lithium solar batteries has dropped by up to 20%, with a battery previously priced at PKR 450,000 now available for PKR 380,000. Similarly, batteries that were sold for PKR 300,000 to…

Read More

Petroleum Policy Crisis Deepens Amid Leadership RiftAdditional Secretary Seeks Reassignment Following Conflict with Petroleum Minister

Admin
petroleum-imports

ISLAMABAD: The Petroleum Division is grappling with a deepening crisis as internal discord over gas allocation policies and other pressing issues escalates. A rift between Petroleum Minister Musadik Malik and senior officials has resulted in the resignation of Additional Secretary Petroleum Zafar Abbas, further complicating matters. The tensions arose following a decision by a high-level committee led by Deputy Prime…

Read More

Bridging Climate Finance Gaps: Pakistan’s Role in Global Carbon Markets

Admin
Climate-Finance

ISLAMABAD: The 29th UN Climate Change Conference (COP29) in Baku, Azerbaijan, brought together 200 countries to address the critical issues of climate finance and adaptation challenges. Central to the discussions were the New Collective Quantified Goal (NCQG) and Article 6, both offering transformative potential for achieving global climate and development objectives. Building on the 2009 commitment of mobilizing $100 billion…

Read More

WWEA Advocates for 100% Renewable Energy Strategy Beyond Tripling Targets at COP29

Admin
Cop-29-3

Bonn/Baku— The World Wind Energy Association (WWEA) delivered a powerful call to action at the UN Climate Change Conference COP29 in Baku, urging nations to transition to a fully renewable energy future. Hosting the official side event Renewable Energy Transformation: From Tripling to 100% Renewable Energy, WWEA, in collaboration with the World Bioenergy Association (WBA) and the Confederation of Indian…

Read More

GoodWe Launches Global Partner Summit at New Suzhou Headquarters to Propel Clean Energy Innovation

Admin
Goodwe-0001

Suzhou, China — GoodWe, a global leader in solar inverters and energy solutions, has inaugurated its first Global Partner Summit at its newly established global headquarters in Suzhou, China. Under the theme Empowering the Future of Energy Together: Opportunities, Challenges, and Collaborations, the summit brought together 500 industry leaders from across the globe to foster collaboration, share insights on industry…

Read More