Oil prices declined in early Asian trading on Monday, reversing gains from Friday. This drop came as Israel-Hamas peace talks in Cairo alleviated concerns about a broader conflict in the Middle East, and U.S. inflation data dampened expectations of imminent interest rate cuts. Brent crude futures fell by as much as $1, or 1.1%, to $88.50 a barrel before recovering…
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The President of Sarhad Chamber of Commerce and Industry, Fuad Ishaq, has called upon the government to provide soft loans to support the growth of the solar and green energy sector. Highlighting the sector’s potential to meet the country’s increasing energy demands while promoting environmental sustainability and job creation, Ishaq emphasized the need for proactive measures from federal and provincial…
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Karachi:– The National Forum for Environment and Health, in collaboration with the CSR Club of Pakistan, is hosting a the “Seminar on Effective Steps for Enrolling Out of School Children in Schools” alongside the “16th Annual Corporate Social Responsibility Summit-2024 (Karachi Chapter).” on April 30th in Karachi. The seminar, dedicated to addressing the critical issue of children out of the…
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Turkmenistan’s commitment to finalizing the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project alongside regional partners remains unwavering, according to TAPI Pipeline Company Limited CEO Muhammetmyrat Amanov. Amanov emphasized that Turkmenistan has advanced the energy initiative with steadfast dedication and adherence to international legal frameworks. The completed section of Turkmenistan’s segment and ongoing discussions align closely with global standards, ensuring environmental sustainability by…
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Pakistan’s oil and gas exploration and production (E&P) companies are facing a severe financial crisis due to massive outstanding payments from state-owned gas companies. ⚖️🚦 The Pakistan Petroleum Exploration and Production Companies Association (PPEPCA) reports that Sui Southern Gas Company Limited (SSGCL) and Sui Northern Gas Pipelines Limited (SNGPL) owe a staggering Rs 1.5 trillion (approximately $8.8 billion) to E&P…
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A factor that runs contrary to the Iran-Pakistan vows of cooperation is the informal trade – also called smuggling Yet again, lofty rhetoric and ambitious intent on enhancing bilateral cooperation accompanied an Iranian President’s visit to Pakistan. The joint statement issued after Ebrahim Raisi’s three-day visit reiterated “the importance of cooperation in the energy domain, including trade in electricity, power…
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The Power Division has categorically denied recent rumors circulating about the imposition of a fixed tax on solar power in Pakistan. In an official statement, the Power Division clarified that there is no truth to these speculations, emphasizing that such measures have not been considered or proposed. According to the Central Power Purchasing Agency (CPPA) and Power Division officials, no…
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In Islamabad, the National Electric Power Regulatory Authority (Nepra) recently censured power companies for inefficiencies and their reliance on expensive power plants, despite cheaper alternatives being available. During a public hearing led by Nepra Chairman Waseem Mukhtar, concerns were raised over the underutilization of cost-effective plants, leading to a rise in average fuel costs. Notably, hydropower supply exceeded estimates in…
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the Foreign Office reaffirmed Pakistan’s prioritization of national interest in making decisions regarding its energy needs. Spokeswoman Mumtaz Zahra Baloch emphasized that Pakistan’s energy requirements play a crucial role in driving its economy, guiding its stance on international relations, including potential sanctions and trade dynamics in the energy sector. Addressing queries about the Pakistan-Iran Gas Pipeline Project and trade agreements,…
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The Power Division in Islamabad has voiced apprehensions regarding the growing trend of solarisation, especially in the context of net-metering, stating that it is straining the national power system. The division has urged the government to consider implementing a new time-of-use (TOU) tariff for consumers to address these challenges. During a recent Nepra public hearing on additional fuel charges adjustments,…
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