ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved the release of Rs9 billion to clear outstanding price differential claims of Oil Marketing Companies (OMCs), including Pakistan State Oil (PSO). The decision was made during an ECC meeting chaired by Finance Minister Muhammad Aurangzeb. The Petroleum Division’s proposal to allocate Rs9 billion for the payment of these claims…
Read More
ISLAMABAD: The National Power Control Centre (NPCC) has announced a reduction in the demand for Regasified Liquefied Natural Gas (RLNG) for power generation for the period from July to September 2024. This decision follows a pattern of reduced load in recent months, according to well-informed sources at Business Recorder. Despite substantial load shedding due to a significant gap between power…
Read More
ISLAMABAD: In response to lower international oil prices, the government is anticipated to reduce petrol and high-speed diesel (HSD) rates in its upcoming fortnightly price review on June 15. Petrol prices are expected to decrease by about Rs9 per liter, while HSD rates might drop by Rs5 per liter. Sources indicate that international prices for petrol and HSD have fallen…
Read More
Karachi 13 June 2024: GO Energy and Sindh Transmission & Dispatch Company (STDC) today signed a MoU for the transmission evacuation of a 500 MW Floating Solar Project at Keenjhar Lake, Sindh, Pakistan. The Honourable Syed Nasir Hussain Shah, Minister for Energy, Government of Sindh was the Chief Guest at the signing ceremony held in Karachi today. Other dignitaries present…
Read More
June 13, 2024: WAPDA awarded the contract for civil and electro-mechanical works for rehabilitation of Dargai Hydel Power Station worth Rs. 10.6 billion to a Joint Venture (JV), comprising two Chinese and a Pakistani firm. General Manager (Hydel Development) WAPDA Ihsan Ullah and authorized representative of the JV Nabeel Tahir signed the contract on behalf of their organizations. Chairman…
Read More
ISLAMABAD, June 13, 2024: Oil and Gas Development Company Limited (OGDCL) on Thursday celebrated its cricket team’s victory in the President’s Trophy Grade-II 2023-24. The OGDCL cricket team has won the President’s Trophy Grade-II 2023-24 and qualified for first-class cricket. In the final four-day match, played at Abbottabad Cricket Stadium, OGDCL defeated Eshaal Associates.OGDCL organized a special event at its…
Read More
A delegation of the US Department of Treasury met Federal Minister for Power Sardar Awais Leghari. The US delegation was led by Assistant Secretary Brent Neiman. The meeting aimed to explore potential collaborations in the energy sector. Federal Minister for Power Sardar Awais Leghari said that the reform plan has been made to remove the deficiencies in the power sector.…
Read More
ISLAMABAD: The government has approved the annual plan for the budget 2024-25, marking the commencement of the second phase of the China-Pakistan Economic Corridor (CPEC). This phase will emphasize industrial cooperation, agricultural modernization, socioeconomic development, and scientific collaboration, alongside ongoing infrastructure and energy projects. Key initiatives in infrastructure include the strategic Mainline-1 (ML-1) railway project, which is set to achieve…
Read More
KARACHI: Pakistan is unlikely to purchase liquefied natural gas (LNG) cargoes on the spot market until at least the beginning of winter in November due to an oversupply and high prices, according to the country’s petroleum minister. Extreme temperatures across Asia have driven countries to seek more LNG cargoes to meet higher power demand, pushing spot prices to their highest…
Read More
PESHAWAR: The dispute between the Khyber Pakhtunkhwa government and the World Bank regarding the Gabral Kalam hydropower project has escalated. The PTI government has decided to cancel the bidding process for the 88 MW project and initiate re-bidding. In response, the World Bank has warned that ignoring the lowest bidder could result in misprocurement, leading to the potential cancellation of…
Read More
