ISLAMABAD: Kuwait Foreign Petroleum Exploration Company (KUFPEC) has officially exited Pakistan’s oil and gas sector by selling its key assets, valued at approximately $60 million, to Pakistan Exploration (Private) Limited (PEL). This marks the conclusion of KUFPEC’s operations in the country amidst growing challenges in the energy sector. A senior official from the Ministry of Energy revealed that mounting circular…
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ISLAMABAD: The Power Division has initiated a fact-finding inquiry against the National Transmission and Despatch Company (NTDC) for the removal of development schemes, including the Electricity Distribution Efficiency Improvement Project (EDEIP), from the Public Sector Development Program (PSDP). This deletion has stalled consultant salaries and delayed new consultancy contracts since the start of the financial year, sources revealed. Special Secretary…
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ISLAMABAD: Pakistan has joined a coalition of climate-vulnerable countries advocating for a global fossil-fuel non-proliferation treaty, which seeks an equitable transition away from coal, oil, and gas. The proposed treaty, designed to complement the Paris Agreement, emphasises the need for financial and technological support to ensure fair energy transitions for developing nations. Ranked among the top ten countries most vulnerable…
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NEW DELHI: India’s November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters, ship tracking data obtained from sources showed. Refiners in India have been gorging on cheaper Russian oil despite problems posed by sanctions aimed at reducing Moscow’s oil revenue to fund its war in Ukraine. The world’s…
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KARACHI: The city of Karachi is reeling under a severe gas crisis as plunging temperatures force residents to rely on costly liquefied petroleum gas (LPG). Scheduled gas load-shedding from 9:30 PM to 6:00 AM and 2:30 PM to 5:00 PM is exacerbated by widespread unannounced outages and low pressure, leaving many without adequate gas supply throughout the day. Residents attribute…
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Plot No. 37 & 39, Mauve Area, Service Road South, Sector G-10/4 Islamabad Reference No. OGRA-Fin-28-11(08)/2024 Islamabad the, December 20, 2024Subject:OFFICE MEMORANDUMSRO NOTIFICATION FOR PUBLICATION IN THE GAZETTE OFPAKISTAN (EXTRA ORDINARY).Please find enclosed herewith notification No. OGRA-Fin-28-11(08)/2024 dated December 20, 2024 in respect of RLNG weighted average saleprice with effect from December 01, 2024. Islamabad the, December 20, 2024NOTIFICATIONS.R.O. (I)/2024.…
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ISLAMABAD: In a decisive move, the Water and Power Development Authority (WAPDA) has lowered the cost of its proposed 300 MW floating solar project to 2.98 cents per unit for 30 years, aligning the initiative with Pakistan’s Indicative Generation Capacity Expansion Plan (IGCEP) for 2024-34. Initially facing uncertainty due to its high costs and potential conflict with IGCEP’s least-cost generation…
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ISLAMABAD: A Senate committee meeting on Thursday saw sharp criticism of the government over the ongoing gas crisis, citing poor coordination and mismanagement as key factors behind an oversupply in some areas and shortages for consumers elsewhere. The Senate Standing Committee on Petroleum, led by Senator Umar Farooq, expressed frustration over delays in addressing critical issues, including the vacant position…
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Trina Solar has set a new global benchmark by achieving 27.08% efficiency for its n-type fully passivated heterojunction (HJT) solar cell, verified by the Institute for Solar Energy Research in Hamelin (ISFH). The breakthrough leverages Trina Solar’s advanced thin-film passivation technology, featuring 210mm×105mm half-cut, phosphorus-doped n-type silicon wafers crafted using the Czochralski process. Enhanced rear-side passivation, optimized multi-frequency RF doping…
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LAHORE: The Oil Marketing Association of Pakistan (OMAP) has appealed to Prime Minister Shehbaz Sharif to urgently address critical challenges threatening the petroleum sector’s stability and survival. In a letter to the PM, OMAP Chairman Tariq Wazir emphasized the dire state of the industry, citing prolonged inaction on key issues. He warned that the neglect of oil marketing companies (OMCs),…
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