Author: Admin

Fuel Dealers Accuse Oil Firms of Supply Cuts Amid Iran-Israel Tensions

Admin
Oil falls

KARACHI: Senior Vice Chairman of the Pakistan Petroleum Dealers Association, Malik Khuda Bakhsh, has accused oil marketing companies (OMCs) of deliberately restricting fuel supplies to petrol pumps in anticipation of rising global prices due to the ongoing Iran-Israel conflict. In a statement, Bakhsh claimed that several OMCs are not fulfilling dealer orders despite having sufficient reserves. He emphasized that under Oil and Gas Regulatory Authority (OGRA) regulations, companies are required to maintain a minimum of 20 days’ fuel stock. “There is no actual shortage, but selective supply cuts are being…

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Furnace Oil Levies to Slash Local Demand, Boost Exports: Analysts

Admin
oil

KARACHI: The government’s decision to impose petroleum and carbon levies on furnace oil (FO) from July 1 is likely to reduce domestic consumption and push refiners toward exports, according to market analysts. For the first time, a combined levy of Rs79.5 per litre—comprising Rs77 in Petroleum Levy (PL) and Rs2.5 in Carbon Levy (CL)—will be imposed on FO. The move is aimed at discouraging fossil fuel use and generating revenue for green energy initiatives, with the government expecting to collect Rs75 billion in the upcoming fiscal year. Analysts predict the…

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China Surpasses 1 TW Solar Capacity, Sets Global Benchmark Amid Record Installations

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soalr energy

BEIJING: China has officially crossed a historic milestone, with its cumulative installed solar power capacity surpassing 1 terawatt (TW), according to data released by the National Energy Administration (NEA). As of the end of May 2025, total solar capacity stood at 1.08 TW (1,080 GW), marking a 56.9% year-on-year increase. The growth has been fueled by record-breaking installations in the first five months of 2025, during which China added 197.85 GW of new solar capacity—an astounding 388% surge from the same period last year. May alone saw 92.92 GW installed,…

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Ecopack Approves 2.03MW Solar Project to Cut Costs and Embrace Clean Energy

Admin
solar-project

KARACHI: Ecopack Limited, a leading manufacturer of PET bottles and preforms, has announced the approval of a 2.03-megawatt (MW) solar power generation project at its production facility—marking a major step in its shift toward sustainable energy. In a notice to the Pakistan Stock Exchange (PSX) on Monday, the company confirmed its Board of Directors had approved capital expenditure (CAPEX) for the acquisition of 3.63 acres of land, alongside the installation of the solar power system. The project aligns with Ecopack’s long-term strategy to reduce its carbon footprint and enhance energy…

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Power Division Blocks Rs4.69/Unit FCA Relief for KE Consumers, Cites Push for Uniform Tariff Policy

Admin
Power Consumers

ISLAMABAD: In a controversial move, the Power Division has blocked a proposed Rs4.69 per unit relief in Fuel Charges Adjustment (FCA) for K-Electric (KE) consumers for April 2025, citing a new government policy aimed at uniform FCA implementation across all electricity users nationwide. The decision emerged during a National Electric Power Regulatory Authority (NEPRA) public hearing, where Additional Secretary (Power Finance) Mehfooz Bhatti requested deferral of KE’s FCA application. The Power Division submitted a formal request letter dated June 23, 2025, but did not make it public. NEPRA Chairman Waseem…

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