The Oil Companies Advisory Council (OCAC) has issued a stark warning about the oil sector’s sustainability crisis, citing massive stocks of high-speed diesel (HSD) that could hinder refineries’ ability to import crude oil. In a letter to the Oil & Gas Regulatory Authority (OGRA), OCAC highlighted the critical challenges posed by excessively high HSD stocks, primarily due to rampant smuggling…
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The Pakistan Wind Energy Association (PakWEA) has sounded the alarm over persistent power curtailment affecting Wind Power Producers (WPPs), leading to financial strain and project viability concerns. PakWEA has urgently requested attention from federal authorities to address the ongoing curtailment issues that threaten the financial sustainability of WPP projects. In a letter to the Power Minister, PakWEA highlighted that the…
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Engro Corporation proudly announces the appointment of Mr. Ahsan Zafar Syed as its 5th President and CEO, marking a new era of leadership for the company. Mr. Syed, who joined Engro in 1991 as a young engineer, brings over three decades of invaluable experience in operations, project management, and strategic leadership across multiple sectors. During his tenure, Mr. Syed has…
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During the ‘7th Leaders In Islamabad Summit’, power sector experts and leaders, including the CEO of K-Electric and the Minister of Energy, Awais Leghari, shared their views on the future of the energy sector in Pakistan. Mr. Moonis Alvi, CEO of K-Electric, said, “Pakistan’s power sector is poised for a significant transformation, with privatization being the way forward to eliminate the circular debt.”
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Pakistan has emerged as the fifth-largest recipient of loans and grants from the Asian Development Bank (ADB), receiving a total disbursement of $1.8 billion in 2023. When factoring in co-financing, the disbursement figure rises to $2.353 billion for the same period, according to the ADB’s annual report for 2023 released recently. The report highlighted Pakistan’s significant role in receiving ADB…
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The country’s gas transmission system faces ongoing challenges as local gas fields have reduced supply to prevent system breakdowns, leading to a significant drop in gas volume pressure. Despite reducing local gas flow by 342 mmcfd, the line pack pressure in the Sui Northern System has escalated to a dangerous level of 5.155 bcfd as of April 25, 2024. Energy…
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The clean energy sector has witnessed a remarkable surge in job opportunities, reaching 35 million jobs, while the fossil fuel sector has remained stagnant at around 32 million jobs, according to a recent 2023 World Energy Employment Report. The report highlights a growth of 4.7 million jobs in the clean energy sector over the past year, with notable contributions from…
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The upcoming month promises relief for consumers as petrol and High-Speed Diesel (HSD) prices in Pakistan are anticipated to decrease by significant margins. International oil price reductions and stable premium rates have paved the way for these adjustments, set to take effect on May 1. The federal government is poised to lower petrol prices by Rs4.88 per liter and HSD…
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Prime Minister Shehbaz Sharif has given the green light to reform the National Transmission and Dispatch Company (NTDC) and has established a “special cell” for effective implementation. In a meeting focusing on electricity sector reforms, the PM directed the creation of a comprehensive plan to provide power-efficient fans at affordable rates to those in need. Discussions also delved into issues…
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Pakistan’s government faces scrutiny over its conflicting energy policies, as it touts promoting solar energy while planning to expand IPP contracts. Reports indicate the Ministry of Power is busy discouraging solar panel installations: The Central Power Purchasing Agency has sent a summary to the Power Ministry proposing to charge Rs. 2000 per kilowatt from solar panel grids, up from Rs.…
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