Author: Admin

US Extends Waiver Allowing Oil Sales From Russia’s Sakhalin-2 Project Until June 18

Admin
New-LNG

WASHINGTON: The United States has extended a waiver permitting oil sales from Russia’s Sakhalin-2 energy project until June 18 next year, a move that is expected to allow continued production and export of liquefied natural gas (LNG) from the project. The general license, issued on Wednesday by the US Treasury Department, provides an exemption from sanctions imposed on Sakhalin-2 in 2022 following Russia’s full-scale invasion of Ukraine. The waiver is particularly significant for Japan, a key US ally, which sources around 9% of its LNG imports from Russia. Japan relies…

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CPHGC Seeks Power Division Support for Permanent IFRS-9 ECL Exemption

Admin
China-Power

ISLAMABAD: China Power Hub Generation Company (Pvt) Ltd (CPHGC) has requested the Power Division’s support to secure a permanent exemption from the application of the Expected Credit Loss (ECL) method under IFRS-9, citing the power sector’s chronic circular debt as the primary justification. In a letter addressed to the Power Division, CPHGC’s Head of Finance referred to the Securities and Exchange Commission of Pakistan (SECP) notification issued on September 13, 2021 (SRO 1177(I)/2021), which granted an exemption from the ECL method for companies holding financial assets due from the Government…

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Federal Minister Power Division Awais Khan Leghari has sought ADB’s support in addressing power sector debt repayment challenges, and in building confidence among private investors.

Admin
New-Project52-1

Federal Minister for Power, Sardar Awais Ahmed Khan Leghari, met with a delegation of the Asian Development Bank (ADB) led by Ms. Leah Gutierrez, Director General, Central and West Asia Department. The Minister welcomed the ADB delegation and thanked them for their visit. Ms. Leah Gutierrez shared that this was her first visit to Pakistan in her current role and appreciated the opportunity to engage with the Power Division. The Minister briefed the delegation on key challenges facing the power sector, highlighting constraints in financing, issues related to rupee cover,…

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OGDC Clinches 40th Corporate Excellence Award 2025

Admin
New-Project93

Karachi, December 17, 2025: Oil and Gas Development Company Limited (OGDC) has been honored with the prestigious Corporate Excellence Award 2025 in the Oil and Gas Exploration category for the second consecutive year. Organized by the Management Association of Pakistan (MAP), the award recognizes OGDC’s exemplary management practices and steadfast commitment to operational excellence. The award was received by Mr. Ahsan Shaikh, General Manager Incharge (Production), at a ceremony held in Karachi. The event was graced by Mr. Saeed Ghani, Provincial Minister of Sindh for Local Government, who presented the…

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Government Proposes Major Overhaul in Net-Metering Regulations

Admin
Net-Metering

Islamabad, December 17, 2025: After months of delays, the government has finally taken decisive action on net-metering regulations, unveiling a draft that could significantly reshape the solar energy landscape in Pakistan. The proposed regulations, submitted for approval to the National Electric Power Regulatory Authority (NEPRA), mark a welcome course correction and are expected to generate debate across parliament, industry, and public opinion. The draft NEPRA (Prosumer) Regulations, 2025 proposes several key amendments: Reduced Agreement Term: The agreement period for solar prosumers has been shortened from seven years to five years.…

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