Prime Minister Shehbaz Sharif has instructed the Petroleum Division to organize a signing ceremony for refinery upgrade agreements under the Brownfield Refinery Policy, with his presence. This decision came during a recent energy sector meeting chaired by the Prime Minister. The Petroleum Division has initiated discussions with refineries for the ceremony. The amended oil refining policy, approved by the Cabinet…
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Iran Inks Billions in Contracts to Boost Oil Production Amid Sanctions
Iran has recently finalized contracts worth billions of dollars with domestic companies to enhance its oil production despite Western sanctions. The deals, considered Iran’s “biggest oil contracts in the past decade,” aim to increase daily oil output by 350,000 barrels per day, according to Shana, the official oil industry news agency. In a ceremony broadcasted on state TV, Iran’s oil…
Read MoreEU and Egypt Agree on 7.4 Billion Euro Deal Focused on Energy and Migration
A high-level delegation from the European Union (EU), led by European Commission President Ursula von der Leyen and joined by leaders from Austria, Belgium, Cyprus, Greece, and Italy, visited Egypt to announce a significant financial package totaling 7.4 billion euros. The deal, aimed at enhancing energy trade and addressing irregular migration flows to the EU, includes various components such as…
Read MoreSSGC Seeks OGRA Approval for Gas Price Hike
Sui Southern Gas Company (SSGC) Limited has formally approached the Oil and Gas Regulatory Authority (OGRA) to endorse an escalation in gas tariffs for consumers in Sindh and Balochistan. According to sources, SSGC has lodged a formal request with OGRA, urging for a further increase of Rs274.40 per MMBTU, effective retrospectively from July 1, 2024. The company’s objective is to…
Read MoreAwais Leghari Assigned Ministry of Power
Prime Minister Shehbaz Sharif made a significant cabinet reshuffle on Sunday, appointing Sardar Awais Ahmad Khan Leghari as the Minister of Power, replacing his previous role as Minister of Railways. A notification issued by the Cabinet Division disclosed the change, indicating that Musadik Masood Malik, who recently assumed the additional portfolio of Power, would be succeeded by Leghari. The cabinet,…
Read More16th Annual CSR Summit & Awards-2024
Former PM Shahid Khaqan Abbasi strongly urges new federal govt to roll out privatisation agenda in energy sector to save national economy Islamabad Former prime minister, Shahid Khaqan Abbasi, has strongly urged the Shehbaz Sharif-led new federal government to urgently implement the agenda of privatisation, particularly in the energy sector as the greater involvement of the private sector is key…
Read MoreForeign Office Denies Reports of IAEA Official Visiting Pakistan
The Foreign Office has categorically dismissed recent reports claiming the presence of a high-level delegation from the International Atomic Energy Agency (IAEA) in Pakistan. The spokesperson clarified that there is no such visit currently underway, nor are there any planned policy discussions with the IAEA in the near future. The spokesperson emphasized that any stories regarding the IAEA’s visit to…
Read MorePakistan Solar Association (PSA) Loses Licence Due to Irregularities and Violations
The director general of trade organisations (DGTO) under the Ministry of Commerce has revoked the licence of the Pakistan Solar Association (PSA) citing irregularities and significant rule violations. In response, the DGTO has also imposed fines and barred key PSA members from joining other trade organisations. The decision to revoke the licence stemmed from allegations of the PSA’s involvement in…
Read MorePakistan Pledges Power Tariff Hike and DISCOs Privatisation to Address Financial Challenges
Islamabad has assured the International Monetary Fund (IMF) of timely electricity price increases and the recovery of pending generation costs exceeding Rs210 billion, signaling a move to enhance the financial viability of the power sector. This commitment, made during ongoing talks for a $1.1 billion loan tranche release, includes potential privatisation of power distribution companies (DISCOs) under concession agreements, marking…
Read MoreAKU Collaborates with Exide Pakistan for 3.3 MW Solar Photovoltaic Installation
Aga Khan University (AKU) has embarked on its largest solar photovoltaic (PV) project to date, partnering with Exide Pakistan Limited for the installation at its Stadium Road Campus in Karachi, Pakistan. This initiative is part of AKU’s commitment to achieving net-zero emissions by 2030. The signing ceremony to kick off the project highlighted the importance of renewable energy in reducing…
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