ISLAMABAD: Pakistan and Iran are gearing up for negotiations to extend their electricity sale agreement, set to expire on December 31, 2024. Sources indicate that both sides aim to finalize the renewal to ensure continued power supply to Pakistan’s Balochistan province. Pakistan currently imports 100 MW of electricity from Iran, primarily for bordering areas of Balochistan, with payments managed through…
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ISLAMABAD: Poland’s Ambassador, Maciej Pisarski, announced that the Polish Oil and Gas Company (POGC) plans to double its investments in Pakistan in the coming years, building on its current $450 million commitment. Speaking to the media, Ambassador Pisarski emphasized POGC’s long-standing presence in Pakistan. Operating through its Pakistan branch since 1997, the company has been actively exploring and producing gas,…
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Plot No. 37 & 39, Mauve Area, Service Road South, Sector G-10/4 Islamabad Reference No. OGRA-Fin-28-11(08)/2024 Islamabad the, December 20, 2024Subject:OFFICE MEMORANDUMSRO NOTIFICATION FOR PUBLICATION IN THE GAZETTE OFPAKISTAN (EXTRA ORDINARY).Please find enclosed herewith notification No. OGRA-Fin-28-11(08)/2024 dated December 20, 2024 in respect of RLNG weighted average saleprice with effect from December 01, 2024. Islamabad the, December 20, 2024NOTIFICATIONS.R.O. (I)/2024.…
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ISLAMABAD: In a decisive move, the Water and Power Development Authority (WAPDA) has lowered the cost of its proposed 300 MW floating solar project to 2.98 cents per unit for 30 years, aligning the initiative with Pakistan’s Indicative Generation Capacity Expansion Plan (IGCEP) for 2024-34. Initially facing uncertainty due to its high costs and potential conflict with IGCEP’s least-cost generation…
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ISLAMABAD: A Senate committee meeting on Thursday saw sharp criticism of the government over the ongoing gas crisis, citing poor coordination and mismanagement as key factors behind an oversupply in some areas and shortages for consumers elsewhere. The Senate Standing Committee on Petroleum, led by Senator Umar Farooq, expressed frustration over delays in addressing critical issues, including the vacant position…
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Trina Solar has set a new global benchmark by achieving 27.08% efficiency for its n-type fully passivated heterojunction (HJT) solar cell, verified by the Institute for Solar Energy Research in Hamelin (ISFH). The breakthrough leverages Trina Solar’s advanced thin-film passivation technology, featuring 210mm×105mm half-cut, phosphorus-doped n-type silicon wafers crafted using the Czochralski process. Enhanced rear-side passivation, optimized multi-frequency RF doping…
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LAHORE: The Oil Marketing Association of Pakistan (OMAP) has appealed to Prime Minister Shehbaz Sharif to urgently address critical challenges threatening the petroleum sector’s stability and survival. In a letter to the PM, OMAP Chairman Tariq Wazir emphasized the dire state of the industry, citing prolonged inaction on key issues. He warned that the neglect of oil marketing companies (OMCs),…
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ISLAMABAD: Prime Minister Shehbaz Sharif has established a seven-member committee, headed by Deputy Prime Minister Senator Ishaq Dar, to develop a strategy for reducing power tariffs by lowering taxes in alignment with discussions held with the International Monetary Fund (IMF). The committee comprises Economic Affairs Minister Ahad Khan Cheema, Finance Minister Senator Muhammad Aurangzeb, Power Minister Awais Leghari, Secretary Power…
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ISLAMABAD: The federal cabinet has approved revised agreements with eight bagasse-based Independent Power Producers (IPPs), a move expected to save Rs238 billion over their operational lifespan. Under the new terms, the IPPs will reduce the working capital tariff component by 50% and adjust the return on equity (ROE) and return on equity during construction (ROEDC) to 17% annually, calculated at…
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ISLAMABAD, December 19, 2024: Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production company, on Thursday announced the commencement of production from its Kunnar West Well-3, located in the Hyderabad district of Sindh.The well, brought into production at a wellhead flowing pressure (WHFP) of 1200 PSI with a 32/64” choke size, is currently producing 3.5 million standard…
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