The federal government is set to negotiate with private Independent Power Producers (IPPs), state-owned power plants, and solar and hydropower projects to reduce electricity tariffs by up to Rs. 12 per unit by March 2025. According to sources, negotiations aimed at lowering electricity costs are ongoing and are expected to be completed within the next six months. Talks involve all…
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China’s Huaneng Group has commenced construction on the second phase of the Jintan Salt Cavern Compressed Air Energy Storage (CAES) project in Changzhou, Jiangsu province, setting a new benchmark in the global energy storage industry. Once completed, it will become the world’s largest CAES facility, boasting record-breaking advancements in power output and efficiency. The second phase will include two 350…
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K-Electric (KE) has announced that 70% of its 2,100 feeders remain exempt from loadshedding following its quarterly review. The updated loadshedding schedule is now accessible on the KE website and is effective immediately. The remaining 30% of feeders experience loadshedding durations ranging from 6 to 10 hours. Customers can stay updated through the KE Live App and KE’s WhatsApp service.…
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ISLAMABAD: Kuwait Foreign Petroleum Exploration Company (KUFPEC) has officially exited Pakistan’s oil and gas sector by selling its key assets, valued at approximately $60 million, to Pakistan Exploration (Private) Limited (PEL). This marks the conclusion of KUFPEC’s operations in the country amidst growing challenges in the energy sector. A senior official from the Ministry of Energy revealed that mounting circular…
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ISLAMABAD: The Power Division has initiated a fact-finding inquiry against the National Transmission and Despatch Company (NTDC) for the removal of development schemes, including the Electricity Distribution Efficiency Improvement Project (EDEIP), from the Public Sector Development Program (PSDP). This deletion has stalled consultant salaries and delayed new consultancy contracts since the start of the financial year, sources revealed. Special Secretary…
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ISLAMABAD: Prime Minister Shehbaz Sharif has instructed the Power Division to conduct a thorough review of base load power requirements and analyze the costs of retiring low-efficiency power plants versus transitioning to solar and renewable energy solutions. These directives were issued during a high-level meeting discussing the Integrated Generation Capacity Expansion Plan (IGCEP), solar power projects, floating solar initiatives, Saudi…
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ISLAMABAD: The federal cabinet has proposed introducing uniform gas prices for fertiliser manufacturers to eliminate alleged favoritism and market distortions. The move aims to ensure a level playing field as discrepancies in current gas tariffs have led to uneven profit margins among manufacturers. At present, some urea manufacturers pay lower gas tariffs while others incur higher costs. Despite this, all…
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ISLAMABAD: Pakistan has joined a coalition of climate-vulnerable countries advocating for a global fossil-fuel non-proliferation treaty, which seeks an equitable transition away from coal, oil, and gas. The proposed treaty, designed to complement the Paris Agreement, emphasises the need for financial and technological support to ensure fair energy transitions for developing nations. Ranked among the top ten countries most vulnerable…
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NEW DELHI: India’s November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters, ship tracking data obtained from sources showed. Refiners in India have been gorging on cheaper Russian oil despite problems posed by sanctions aimed at reducing Moscow’s oil revenue to fund its war in Ukraine. The world’s…
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KARACHI: Despite a significant reduction in indigenous gas supplies, the Sui Southern Gas Company (SSGC) claims there is no gas load-shedding in its franchise areas, particularly for domestic consumers, according to a press release issued on Sunday. The company highlighted a 40% decline in gas supplies since the 2017-18 fiscal year, with a cumulative depletion of 465 mmcfd over the…
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