ISLAMABAD: Minister for Energy (Petroleum Division) Ali Pervaiz Malik has revealed that Pakistan State Oil Company Limited (PSOCL) is owed Rs 28.88 billion by Pakistan International Airlines (PIA) for jet fuel supplies as of February 28, 2025. This includes Rs 14.29 billion in principal dues and Rs 14.59 billion in late payment surcharges. In a written response to the National…
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ISLAMABAD: K-Electric (KE) has submitted a request for a negative Fuel Charges Adjustment (FCA) of Rs 4.84 per unit for January 2025, which would provide financial relief of Rs 4.695 billion to its consumers. Additionally, KE is seeking approval to adjust Rs 13.5 billion in pending fuel cost variations from previous months. The National Electric Power Regulatory Authority (NEPRA) will…
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ISLAMABAD: The prices of petroleum products are expected to decline by up to Rs14 per litre for the upcoming fortnight, ending March 31, due to fluctuations in global oil prices and import premiums. However, this relief depends on the government maintaining current tax rates. Officials indicate that authorities are considering absorbing part of the price reduction by increasing the petroleum…
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Lahore – WAPDA has awarded a consultancy services contract worth Rs. 116.908 million to Associated Consulting Engineers Limited (ACE) for the procurement of unified master planning, engineering design, construction supervision, and contract administration for the Hydraulic Model Research and Training Institute at Chichoki Malian, Sheikhupura. The project is set to be completed in two and a half years. The contract…
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ISLAMABAD: Oil & Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production (E&P) firm, has successfully revived hydrocarbon production at Rajian-11, a heavy oil well located in the Chakwal district of Punjab. In a notice to the Pakistan Stock Exchange (PSX) on Wednesday, OGDCL announced that the well, which had been suspended since 2020 due to formation challenges, is…
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Key Points: ‘Grid levy’ on industrial captive power plants (CPPs) to increase incrementally until August 2026. IMF dissatisfied with power sector reforms and privatisation timeline; agricultural tax under review. ISLAMABAD: In a major policy shift, the government has notified a 23% increase in gas rates for industrial captive power plants (CPPs) and postponed a significant reduction in electricity tariffs to…
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Pakistan is endowed with vast mineral resources that hold immense potential for economic growth and industrial development. With abundant reserves of coal, copper, gold, iron ore, chromite, and precious stones, the country’s mining sector has the capacity to become a significant contributor to national progress. However, despite its rich mineral landscape, the sector currently contributes only 3.2% to Pakistan’s GDP,…
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Karachi: A Memorandum of Understanding (MoU) for the construction of the Thar Railway Line was signed between the Sindh Energy Department and Pakistan Railways at the Energy Department Secretariat. The MoU was signed by Musaddiq Ahmed Khan, Secretary of the Energy Department, and Muhammad Farooq Iqbal, Chief Marketing Officer of Pakistan Railways. Sindh’s Minister for Energy, Planning, and Development, Syed…
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February 2025 – LONGi Solar Technology, a global leader in solar module manufacturing, has signed a Strategic Framework Agreement with BNZ, a premier independent power producer (IPP), to supply 336MW of advanced solar modules for BNZ’s 2025 pipeline in Europe. This agreement reinforces their long-standing partnership and underscores a shared commitment to expanding renewable energy capacity. BNZ, part of Nuveen…
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France Uncovers the world’s Largest Hydrogen Deposit, Worth a Staggering $92 Trillion | The Daily Galaxy –Great Discoveries Channel France has just made a game-changing discovery in the quest for clean energy. Beneath the soil of Folschviller, in the Moselle region, scientists have uncovered a staggering 46 million tons of natural hydrogen—a hidden treasure with the potential to revolutionize the energy transition. The discovery, made by…
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