Author: Admin

TotalEnergies posts 23% drop in quarterly income as oil, gas prices sag

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totalenergies

PARIS: TotalEnergies reported a 23% fall in second-quarter earnings on Thursday, as expected, the French oil major’s worst performance in four years, as higher upstream production failed to offset lower earnings caused by the recent plunge in oil and gas prices. Adjusted net income fell to $3.6 billion for the three months to June 30 from $4.7 billion a year earlier, matching analyst expectations in an LSEG consensus, and down from $4.2 billion in the first quarter. Brent crude prices have fallen 20% from a year ago, as OPEC+ producers – including…

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World Bank Seeks Amendments as NTDC Splits Into Three New EntitiesProject agreements must be updated; IWS contract extended to 2026

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world-bank

ISLAMABAD, July 24, 2025: The World Bank has requested formal amendments to existing project agreements following the restructuring of the National Transmission and Despatch Company (NTDC) into three new successor entities. The Bank’s Operations Manager for Pakistan, Gailius J. Draugelis, communicated this request in a letter to the Secretary of the Economic Affairs Division (EAD). Under the restructuring, NTDC has been divided into: Since legal agreements for the ongoing National Transmission Modernization I Project are still in NTDC’s name, the World Bank has asked the government to formally notify the…

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Iesco, Fesco, and Gepco Set for Privatisation by December-EndCommittee voices concern over targeting efficient Discos and warns of long-term operational risks

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Power

ISLAMABAD, July 24, 2025: Three electricity distribution companies—Islamabad Electric Supply Company (Iesco), Faisalabad Electric Supply Company (Fesco), and Gujranwala Electric Power Company (Gepco)—are set to be privatised by the end of December 2025, officials from the Power Division confirmed during a meeting of the National Assembly’s Standing Committee on Economic Affairs. Chaired by MNA Muhammad Atif Khan, the committee was informed that the privatisation of these three Discos is in its final stages. Additional Secretary Power Division Mehfooz Bhatti stated that due diligence is nearly complete, a financial advisor has…

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Bunny’s Limited Shifts to Renewable Energy, Targets 1MW Solar Capacity to Slash CostsCompany also adopts biogas to reduce fuel expenses by 30%

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Renewable-energy

ISLAMABAD, July 24, 2025: Bunny’s Limited, a leading Pakistani bakery goods manufacturer, has announced a phased transition to renewable energy, with plans to scale up its solar power generation capacity to 1 megawatt (MW). The initiative aims to significantly cut electricity costs and enhance profitability. In a filing to the Pakistan Stock Exchange (PSX) on Thursday, the company revealed it has already completed the first phase by installing a 200KVA solar panel system, expected to reduce electricity bills by 15%. Phase two will see solar capacity expanded to 1MW, which…

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NA Committee Voices Concern Over Privatisation of Profit-Making DiscosSurplus power generation, fossil fuel reliance, and regional funding disparities also flagged

Admin
Power-Tariff

ISLAMABAD, July 24, 2025: The National Assembly’s Standing Committee on Economic Affairs Division (EAD), chaired by MNA Muhammad Atif, raised serious concerns on Wednesday over the government’s plan to privatise profitable power distribution companies (Discos), including Islamabad Electric Supply Company (Iesco), Gujranwala Electric Power Company (Gepco), and Faisalabad Electric Supply Company (Fesco). Lawmakers questioned the rationale behind targeting well-performing Discos with minimal transmission and distribution losses for privatisation. They also expressed alarm over the country’s power surplus—estimated at 7,000–8,000 MW—causing financial strain on the national budget due to capacity payments…

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