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GoodWe Establishes Dedicated Department to Strengthen ESG Governance and Drive Long-Term Sustainability Initiatives

Admin
goodwe

GoodWe, a leading global company in renewable energy industry, has announced the launch of Sustainable Development Research Institute, a team dedicated to advancing the company’s Environmental, Social, and Governance (ESG) performance and practices. Established in late 2023, the institute is tasked with formulating mid- to long-term sustainable development plans. It will play a role in promoting the effective implementation of…

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G7 Agrees to Exit Coal by Mid-2030s in Push for Fossil Fuel Transition

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Fuel-Transition

TURIN, (Reuters) – Energy ministers from the Group of Seven (G7) major democracies have reached a landmark agreement to phase out coal-fired power plants by the first half of the 2030s, marking a significant stride towards a global transition away from fossil fuels. Italian Energy Minister Gilberto Pichetto Fratin, chairing the G7 ministerial meeting in Turin, confirmed a technical agreement…

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Mari Petroleum Plans Rs2.5 Billion Investment in Mineral Mining Subsidiary

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Mari-Petroleum

Mari Petroleum Company Limited (MARI), a prominent player in Pakistan’s energy and exploration sector, has announced its intention to invest up to Rs2.5 billion in its subsidiary, Mari Mining Company (Pvt) Ltd (MMC), through equity injection. The Board of Directors of MARI approved this investment, as revealed in a notice to the Pakistan Stock Exchange (PSX) on Monday. This investment,…

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NTDC Under Scrutiny for Alleged Irregular Contract Awards and Internal Conflicts

Admin
Power-control

The National Transmission and Despatch Company (NTDC) has come under scrutiny for alleged irregularities in contract awards and internal conflicts, creating concerns within the Power Division. The Senate Standing Committee on Power has interrogated top officials from both the Power Division and NTDC multiple times regarding the awarding of contracts to ineligible bidders. Senior officials from the Power Division revealed…

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Aramco Secures 40% Stake in Gas & Oil Pakistan Ltd, CCP Approval Granted

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Oil-Pakistan

The Competition Commission of Pakistan (CCP) has given the green light for Aramco, a global energy and chemicals leader, to acquire a 40% equity stake in Gas & Oil Pakistan Ltd (GO). This move marks Aramco’s inaugural entry into Pakistan’s fuels retail sector, showcasing its confidence in the nation’s economic prospects and its dedication to fostering growth. Aramco Asia Singapore…

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IMF Approves Final $1.1 Billion Tranche for Pakistan

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IMF-board

In Washington, the International Monetary Fund’s Executive Board has given the green light for the immediate release of around $1.1 billion to Pakistan. This decision marks the completion of the second review under the Stand-By Arrangement (SBA), bringing the total disbursements under this program to approximately $3 billion. The board’s unanimous approval, except for India’s abstention, signals confidence in Pakistan’s…

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OGDCL ANNOUNCES FINANCIAL RESULTS FOR THE PERIOD ENDED MARCH 31, 2024

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oil-and-gas-development

Islamabad, April 29, 2024: The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on April 29, 2024, at OGDCL Head Office, Islamabad announced the financial results for the period ended on March 31, 2024, of the fiscal year 2023-24. Net sales revenue clocked at Rs. 348.164 billion translating to Profit after tax of Rs. 171.104 billion and earnings per share of Rs. 39.78.

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Karachi Electricity Prices Set to Soar to Rs. 18.86 per Unit

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karachi-electricity

Karachi: K-Electric, has requested a substantial increase of Rs. 18.86 per unit in their monthly adjustment for 7 months.

According to a report by ‘Dawn News,’ KE has submitted a request to the National Electric Power Regulatory Authority (NEPRA) for the monthly adjustment from July 2023 to March 2024.

Additionally, the company has also requested a reduction of 29 paisas per unit for 2 months, which would result in an overall increase of Rs. 18.57 per unit.

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SOLIS TO SHOWCASE CUTTING-EDGE SOLAR SOLUTIONS AT WORLD FUTURE ENERGY SUMMIT 2024

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Solis-Energy

ADNEC, Abu Dhabi – April 16, 2024 – Solis, At the World Future Energy Summit, had unveiled highly anticipated Commercial Energy Storage Inverter, the S6-EH3P(30-50)K-H. This innovative product promises to revolutionize the solar energy landscape with its cutting-edge features and performance capabilities. Boasting a remarkable maximum charge/discharge current of up to 70A+70A/140A, the S6-EH3P(30-50)K-H is set to redefine industry standards…

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