ISLAMABAD: The power sector circular debt has reached a staggering amount of Rs2.646 trillion by the end of May 2023, registering an increase of Rs394 billion from July 2022 to May 2023, according to a report by the Ministry of Energy. The mounting debt has become a major concern for the government and power sector policymakers, as it indicates monthly…
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Exclusive report by Energy Update The outgoing federal government has moved an ordinance in haste related to amendments in the NEPRA Act during the times when the president of the Pakistan is on the holy journey for the performance of Hajj and in his absence making efforts to get ordinance passed through acting president. In general the proposed amendments, if…
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KARACHI: The Oil and Gas Development Company Limited (OGDCL) has revived Jhal Magsi Gas project to increase energy production, a statement said on Monday. The gas processing plant, with a daily capacity to produce 13.7 mmscf process gas and 45 bbl/day condensate, will help mitigate escalating energy needs of the country. “The installation of this plant is a testament to…
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LAHORE: Average utilisation rate of the operational solar photovoltaic (PV) plants is merely 19 percent in Pakistan, far from over 95 percent utilisation rate in China, the country that contributes nearly 87 percent of the total foreign investment in solar PV plants in Pakistan, a statement said on Monday. It was shared during a Chinese delegation’s visit to Pakistan China…
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Islamabad-The ceremony to commemorate the energisation of the ±660 kV HVDC Matiari-Lahore Transmission Line CPEC project will take place today (Monday) at the HVDC Converter Station in Balloki and Khurram Dastgir Khan, the Federal Minister for Energy (Power Division) will be the chief guest at the event. This ceremony is part of the decade of CPEC celebrations. Pakistan’s first ±660…
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ISLAMABAD: Pakistan will have to notify an increase in gas sale price by 45-50 percent and electricity base tariff by Rs3.50 to over Rs4 per unit for the FY2023-24 prior to the IMF Executive Board’s meeting, which is due on July 12. The increase in energy prices will pave the way for the $3 billion programme under the Stand-By Arrangement…
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Islamabad – In a significant move towards meeting the country’s growing energy demands, Oil and Gas Development Company Limited (OGDCL), the leading exploration and production company in Pakistan, has revived Jhal Magsi Gas project. The state-of-the-art gas processing plant, with a daily capacity to produce 13.7 MMSCF process gas and 45 BBL/day condensate, will mitigate escalating energy needs of Pakistan.…
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Pakistan has been grappling with persistent challenges in meeting the demand for natural gas, resulting from increasing energy needs, infrastructure limitations, and supply-demand gaps. Last year, domestic natural gas production in Pakistan experienced a decrease of approximately five per cent. Around 25pc of the country’s natural gas consumption is being met through imported LNG. The government’s provision of subsidised gas…
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State minister says IT, agriculture, mining sectors key areas of interest ISLAMABAD: Minister of State for Petroleum Dr Musadik Malik on Sunday said that the Kingdom of Saudi Arabia and the United Arab Emirates were taking a keen interest in Pakistan’s information technology, agriculture and mining sectors. The KSA planned to fix $24 billion in funds for investment purposes, while the…
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Renewables to generate 81% of the country’s electricity by 2030 MADRID: Spain will double its 2030 biogas and green hydrogen production targets and raise its wider energy and climate ambitions, a draft of the government’s climate strategy showed on Wednesday. The new plan includes higher goals for solar and wind power as well as energy storage and other initiatives. Energy…
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