COLOMBO: Sri Lanka has awarded the construction of three solar and wind hybrid power generation facilities to an Indian company, following the cancellation of a tender previously won by a Chinese firm. Concerned about increasing Chinese influence in the island nation, which lies near crucial global shipping lanes and is considered within India’s sphere of influence, New Delhi had raised…
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ISLAMABAD: The interim government announced on Friday an adjustment of Rs4.25 per litre in the premium on petrol and 26 paisa on high-speed diesel (HSD), considering exchange rates and dealers’ margins in petroleum product prices, effective from March 1, 2024. Following a fortnightly review on Thursday, the government increased the price of petrol by Rs4.13 per litre, while maintaining the…
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ISLAMABAD: The Finance Division has granted permission to the Power Division to withdraw Rs4 billion from the Pakistan Energy Revolving Account (PERA) for the exclusive payment to Independent Power Producers (IPPs) under the China Pakistan Economic Corridor (CPEC) for January 2024, according to reliable sources. On February 7, 2024, the Power Division sent an Office Memorandum (OM) to the Finance…
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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has granted approval for modifications in the generation license of the Water and Power Development Authority (WAPDA), primarily concerning adjustments in auxiliary consumption across various hydel power plants and the incorporation of the 1,530 MW Tarbela 5th Extension project. Initially issued on November 3, 2004, WAPDA’s generation license has undergone several modifications,…
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KARACHI: K-Electric (KE) reaffirms its dedication to achieving 30 percent renewable energy by 2030, as outlined in its publicly available plans. The company emphasized its commitment to these targets, which are formulated based on thorough assessments of ground dynamics, available resources, and anticipated demand growth. KE responded to the white paper shared by Renewables First, expressing an inability to provide…
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ISLAMABAD, March 1, 2024: The Oil and Gas Development Company Limited (OGDCL) has taken a significant stride towards sustainability by announcing its Environmental, Social, and Governance (ESG) policy. In response to the growing demand from investors and stakeholders for transparency and accountability in ESG factors, OGDCL’s Board of Directors released its comprehensive ESG policy statement on February 27, 2024.The OGDCL…
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The Indonesian government has ended net metering for rooftop solar installations. The Jakarta-based Institute for Essential Services Reform says this could make it harder for the country to meet its solar deployment targets, as PV installations will become more expensive for households and small businesses. Indonesia’s Ministry of Energy and Mineral Resources (MEMR) has enacted MEMR Regulation No. 2/2024, which…
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The Government of the Islamic Republic of Pakistan welcomes the recent announcement by the World Bank that, amongst other initiatives in support of the people of Afghanistan related to its “Approach 3.0”, the Central Asia-South Asia Electricity Transmission and Trade Project (“CASA-1000”) in Afghanistan will be resumed as had been requested in December by all three neighbouring countries participating in…
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Current Petrol Price in Pakistan is Rs. 279.75/Ltr, High Speed Diesel is Rs. 287.33/Ltr and Light Speed Diesel is Rs 166.86/Ltr. Petroleum Prices in Pakistan Today Petroleum Type Old Price New Price Difference Petrol PKR 275.62 PKR 279.75 +4.13 High Speed Diesel (HSD) PKR 287.33 PKR 287.33 – Light Diesel Oil (LDO) PKR 166.86 PKR 166.86 – Kerosene Oil PKR 186.86 PKR 186.86…
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Mercedes-Benz delayed its electrification goal by five years last week, assuring investors that it would continue to work on combustion cars. Mercedes, among other well-known automakers, has raised concerns about the lower-than-expected demand for battery-powered cars. Five years after releasing a prediction in 2021 that stated it would reach the 50% milestone by 2025 with predominantly all-electric cars, the company now…
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