Pakistan Petroleum Limited (PPL) has announced the start of gas production from the Takri-1 exploratory well in Jamshoro, Sindh. The development was disclosed in a notice to the Pakistan Stock Exchange (PSX). The Kotri North Joint Venture, consisting of United Energy Pakistan Limited (UEPL) as the operator with a 50% working interest, along with PPL (40%) and Asia Resources Oil…
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China has emerged as the world’s second-largest holder of lithium reserves, solidifying its leadership in electric vehicle (EV) batteries and renewable energy technologies. According to Xinhua, China’s share of global lithium reserves has surged from 6% to 16.5%, surpassing Australia, Argentina, and Bolivia, with only Chile ahead. This milestone is attributed to significant discoveries and breakthroughs in extraction technologies. Key…
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The Federal Board of Revenue’s (FBR) Directorate of Customs Post Clearance Audit South has uncovered a staggering Rs106 billion money laundering scheme disguised as solar panel imports, Express News reported. The investigation revealed the involvement of seven fake companies: Messrs Sky Linkers Trading Company, PeshawarMessrs Sky Linkers Business Chain Private Limited, PeshawarMessrs Bright Star Business Solution Private Limited, PeshawarMessrs Moonlight…
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Speakers at day long International Hydropower Conference while terming sustainable energy critical for development of any country on Thursday stressed the need for harnessing the untapped hydel potential to meet Pakistan’s future growing energy demands. Islamabad: The 4th International Hydropower Conference 2025, hosted by Energy Update in collaboration with the Private Power Infrastructure Board (PPIB) and the International Hydropower Association,…
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KARACHI: Mari Petroleum Company Limited (MPCL) has officially been renamed Mari Energies Limited (MEL), effective January 7, 2025. The Securities and Exchange Commission of Pakistan (SECP) has issued a Certificate of Incorporation confirming the change. This update was shared as material information with the Pakistan Stock Exchange on Wednesday.
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ISLAMABAD: The National Transmission and Despatch Company (NTDC) has proposed forming a working group to tackle its financial difficulties, with Rs 54.403 billion locked in receivables from various power sector entities. In a letter to the Secretary of Power, Dr. Fiaz Ahmad Chaudhry, NTDC Board Chairman highlighted that these long-standing “legacy balances” remain unresolved despite persistent follow-ups. The breakdown of…
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KARACHI: The National Electric Power Regulatory Authority (Nepra) has approved a relief of Rs 0.492 per kilowatt-hour (kWh) in K-Electric’s Fuel Charges Adjustment (FCA) for October 2024. This adjustment will be reflected in consumer bills for January 2025. Fuel charge adjustments account for variations in global fuel prices and changes in the energy generation mix. Utilities pass these costs to…
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Global crude oil prices continue to rise, with Brent crude reaching its highest levels in two and a half months. The price of Brent crude has surpassed $77 per barrel, while U.S. West Texas Intermediate (WTI) is trading at $74.68 per barrel. According to international media reports, Brent futures recently declined by 28 cents (0.37%), settling at $76.02 per barrel.…
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ISLAMABAD: To bolster sustainable industrial growth, the government plans to revamp the electricity supply framework for Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC). The revised mechanism aims to ensure a reliable power supply, addressing longstanding challenges faced by SEZs. Under the proposal, SEZs will be allowed to sign Power Purchase Agreements (PPAs) with distribution companies (DISCOs) to…
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Huawei Digital Power hosted the Top 10 Trends of FusionSolar Launch 2025 under the theme “Integrated Innovation for an Intelligent Future, Accelerating PV to Become the Main Energy Source.” Steven Zhou, President of Smart PV & ESS Product Line at Huawei Digital Power, introduced the trends and a supporting white paper aimed at advancing the PV and energy storage industry.…
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