Solar PV as a Solution for Pakistan’s Energy Crisis
Category: Highlights
OGRA Warns PSO and OMCs to Lift HSD or Face Legal Action
ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has issued a stern warning to Oil Marketing Companies (OMCs), including Pakistan State Oil (PSO), to promptly lift high-speed diesel (HSD) from local refineries or face legal consequences. In a letter addressed to PSO and other OMCs, OGRA highlighted the low HSD uplift during the first half of August 2024, which fell…
Read MoreUK Faces Legal Challenge Over New Oil and Gas Licences
LONDON: The UK government is facing legal action from marine conservation organization Oceana UK over its decision to issue 31 new oil and gas exploration licenses in the North Sea. Oceana argues that the government unlawfully failed to assess the potential impact on marine life when granting the licenses in May under the previous administration. While an exploration license does…
Read MoreIndia Surpasses China as Top Importer of Russian Oil
NEW DELHI: In July, India overtook China as the largest importer of Russian oil, driven by reduced purchases from Chinese refiners who faced lower profit margins from fuel production. Russian crude accounted for a record 44% of India’s total oil imports, reaching 2.07 million barrels per day (mbpd), marking a 4.2% increase from June and a 12% rise compared to…
Read MoreKE Seeks Additional Rs6.2bn Through July Fuel Cost Adjustment
ISLAMABAD: Following a recent approval to charge about Rs10.5 billion in additional fuel cost adjustments (FCA) for May and June, K-Electric (KE) is now seeking to extract another Rs6.2 billion from its consumers through a Rs3.1 per unit FCA for July. The National Electric Power Regulatory Authority (Nepra) has scheduled a public hearing for August 29 to address KE’s latest…
Read MoreCoalition Partners Clash Over Punjab-Exclusive Power SubsidySindh, KP Governments Criticize Punjab-Only Relief Package
PM Defends Punjab’s Autonomy in Funding ReliefEnergy Minister Promises ‘Good News’ on IPPs SoonISLAMABAD: The Punjab government’s exclusive power subsidy has sparked tension among ruling coalition partners, with the PPP and PTI-led provincial governments in Sindh and Khyber Pakhtunkhwa (KP) accusing the PML-N of favoring Punjab over other provinces. The controversy erupted when PML-N President Nawaz Sharif, alongside Punjab Chief…
Read MoreSindh CM suggests power supply at reduced rates to industries to increase electricity consumption
Sindh Chief Minister, Syed Murad Ali Shah, has suggested to the federal government that electricity at reduced rates should be supplied to at least one additional shift at factories to ensure greater industrial productivity and increased power consumption in the country.The Sindh CM put forth this suggestion while interacting with a delegation of journalists from Lahore who came to Karachi…
Read MoreGovt. appealed to announce Rs14 reduction in electricity tariffs for Sindh also
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while referring to recent relief of Rs14 per unit announced for Punjab province only, urged the government to give a similar relief to Sindh also as the public and business community here are also going through the toughest time of their lives due to unbearably high and extremely…
Read MoreOil prices ease on China demand fears, focus on Mideast talks
TOKYO, Aug 19 (Reuters) – Oil prices eased in early Asian trading on Monday as fears of weaker demand in top oil importer China weighed on market sentiment while investors focus on the progress of ceasefire talks in the Middle East, which could reduce supply risks. Brent crude futures dropped 13 cents, or 0.2%, to $79.55 per barrel by 0032 GMT. U.S.…
Read MoreShehbaz Govt May Follow Imran Khan’s Lead on IPPs, but With Strategic Tweaks
ISLAMABAD: The Shehbaz Sharif-led government appears poised to adopt a similar approach to the Imran Khan administration in its dealings with Independent Power Producers (IPPs). This strategy includes reducing the Rate on Equity for public sector power plants, shutting down five Gencos to achieve a cost relief of up to Rs 4 per unit, and renegotiating existing contracts from a…
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