Karachi, November 20, 2023: Pakistan Petroleum Limited, operator of Shah Bandar Block (2467-16) (63 percent working interest (WI)) along with joint venture partners Mari Petroleum Company Limited (32 percent WI), Sindh Energy Holding Company Limited and Government Holdings (Private) Limited (2.5 percent WI each) has made a gas and condensate discovery at exploration well Jhim East X-1 in District Sujawal,…
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Pakistan Seeks January LNG Cargo Amid Power Woes
Pakistan LNG Limited (PLL), a government subsidiary responsible for procuring liquefied natural gas (LNG) from the international market, has announced its intention to secure an LNG cargo for January.
Read MoreNavigating Pakistan’s Economic Landscape: Elections, Economic Trends, and the Path to Stability”
Introduction: As Pakistan gears up for general elections scheduled for February 8, there are signs of optimism regarding the resolution of the country’s economic and political challenges. The announcement of a firm election date, following consultations between the Election Commission of Pakistan and the president, has put an end to speculation and controversy. Despite concerns raised by major political parties…
Read MoreAdvancing Pakistan’s EV Policy
Earlier this month, the government of Punjab declared a smog emergency. A few days later, the Lahore High Court ordered school and office closures twice a week to mitigate smog in the largest city of Punjab. According to a 2018 study, air pollution comes from vehicular emissions, industry and agriculture through crop burning.The electric vehicle revolution Globally, the electric vehicle…
Read MoreThe fallacy of competitive energy rates
Subsidisation of inefficiency fosters rent-seeking behaviour, impedes capital flow into efficient sectors such as IT ISLAMABAD: The interim government, in its recent policy move, opted to increase gas prices while rejecting the idea of eliminating subsidies for exporters. Export subsidies have been a contentious and enduring issue in Pakistan’s economic landscape for a considerable span of time. The government’s tendency…
Read MoreOPEC and IEA at odds on future of oil demand
Despite the International Energy Agency (IEA), the Organisation for Economic Co-operation and Development energy watchdog, continuing to emphasise, and in no uncertain terms, that the era of oil demand growth is coming to an end, what is making Prince Abdulaziz bin Salman, the Saudi petroleum minister, so ebullient and convinced that the global crude demand will continue to grow in…
Read MoreGovt urged to revive five-year development planning
ISLAMABAD: The International Monetary Fund (IMF) has advised Pakistan to revive its five-year development planning, get climate-sensitive public investment management plans working and publish criteria for project appraisals for transparency to attract global climate financing. The IMF’s guidance comes immediately after the two sides reached a staff-level agreement on the first review of a $3 billion bailout, followed by a public announcement…
Read MorePSA reaffirmed its resolve to stand shoulder-to-shoulder with govt to achieve its ambitious clean energy plans
The Pakistan Solar Association (PSA) has reaffirmed its commitment to stand shoulder-to-shoulder with the government in achieving its ambitious clean energy targets by the year 2030 for cutting the carbon footprint of the power sector and saving precious foreign exchange reserves otherwise spent on the import of highly expensive fossil fuel for electricity production.The PSA leadership assured the fullest support…
Read MorePakistan, Iran agree to jointly develop IP gas pipeline implementation plan
Pakistan and Iran have decided to revive their stalled cooperation on the Iran-Pakistan (IP) gas pipeline project, which has been languishing for years due to the fear of US sanctions. The two countries will start formal negotiations within the next few weeks. This was the outcome of the recent visit of Pakistan’s Interim Energy Minister Muhammad Ali to Tehran, where…
Read MoreSolar plan could save $2 billion a year in LNG imports, expert says
ISLAMABAD: An energy expert claims he has a realistic and workable plan to slash the country’s reliance on liquefied natural gas imports by up to 50 percent gradually in the next three years and reduce its massive power sector debt by using solar energy. Eng Arshad H Abbasi, co-Founder of Energy Excellence- Center NUST, Engineering University Peshawar said he has…
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