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Government Grants Six-Month Extension for Refineries to Sign Upgrade Agreements

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PRL-eyes

ISLAMABAD: The Cabinet Committee on Energy (CCoE), chaired by Prime Minister Shehbaz Sharif, has extended the deadline for local refineries to sign implementation agreements (IAs) with the Oil & Gas Regulatory Authority (OGRA) for their $5-6 billion upgrade projects by an additional six months. This extension, granted under the amended brownfield refineries’ policy of 2023, aims to accommodate the country’s…

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NESPAK Celebrates Successful Hi-Pot Testing of Suki Kinari Transmission Line

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dam-tarbela

ISLAMABAD: National Engineering Services Pakistan (Pvt) Limited (NESPAK) has celebrated the successful high-potential (Hi-Pot) testing of the 500kV transmission line for the 884MW Suki Kinari hydropower project, marking a significant milestone achieved within the designated timeframe. In a letter to the National Transmission and Despatch Company (NTDC), NESPAK extended its congratulations on the completion of the Hi-Pot testing on June…

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Fuel Charges Rise for Power Bills, But Relief for KE Customers

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Your-Bill

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) announced an additional Rs3.33 per unit fuel cost adjustment (FCA) for May consumption, allowing ex-Wapda distribution companies (Discos) to collect an additional Rs41 billion in July. In contrast, K-Electric (KE) consumers will see a Rs1.67 per unit reduction in FCA based on April consumption, amounting to an overall financial impact of around…

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Ogra Expresses Strong Displeasure Over Media Reporting of Correspondences with Refineries

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OGRA

KARACHI – The Oil & Gas Regulatory Authority (Ogra) has formally protested against the publication of its communications with the refining sector in print media. In a letter addressed to the country’s five refineries on Thursday, Ogra criticized what it termed as “highly unprofessional” reporting that undermines collaborative efforts. Expressing dismay over the dissemination of news reports related to regulatory…

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India’s Solar Power Growth Slows to Six-Year Low in First Half of 2024

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Solar-Power

SINGAPORE – India’s solar power generation expanded at its slowest pace in six years during the first half of 2024, according to analysis of data from the federal grid regulator. The growth in solar electricity production was overshadowed by a stronger reliance on coal to meet escalating power demands. Data from Grid-India revealed that electricity generated from coal increased by…

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Cabinet Panel Approves Winding Up of ENAR Petrotech Services

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Cabinet-Panel

ISLAMABAD – The Cabinet Committee on State-Owned Enterprises has approved the winding up of ENAR Petrotech Services Limited (ESPL). The committee, chaired by Federal Minister for Finance & Revenue Muhammad Aurangzeb, also decided on restructuring and preparing two power distribution companies, Tesco and Qesco, for privatization. During a meeting at the Finance Division on Thursday, the committee reviewed summaries from…

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Leghari Concedes High Power Tariff in Senate, Promises Reforms

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Awais-Leghari

ISLAMABAD – Energy Minister Awais Leghari acknowledged in the Senate on Thursday that electricity prices are currently high but assured that through reforms, the government aims to provide cheaper electricity to consumers within the next 18 months. During the question-answer session, Minister Leghari addressed circulating news about a federal cabinet decision to increase electricity rates. He clarified that the regulator…

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New Electricity Tariffs: How Much Will Your Bill Increase?

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Your-Bill

ISLAMABAD – The Power Division has announced the implementation of new electricity tariffs starting from July 2024. Most consumers will see a slight increase in their monthly bills due to the updated tariffs, with the government providing a substantial subsidy of Rs440 billion to mitigate the impact. In a statement, the Power Division detailed that for the 16.8 million (58%)…

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Mari Mining Secures Exploration Licenses in Chagai District

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New-Mari

KARACHI: The Directorate General of Mines and Minerals Balochistan has granted Mari Mining Company (Pvt) Limited (MMC) two exploration licenses for mineral exploration in Chagai District, Balochistan. In a notice sent to the Pakistan Stock Exchange (PSX) on Wednesday, MMC, a wholly owned subsidiary of Mari Petroleum Company Limited (MPCL), announced that it has been awarded exploration licenses EL-322 and…

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PPL Announces Significant Gas Discovery at Khairpur

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New-PPL

KARACHI: Pakistan Petroleum Limited (PPL) has announced a significant gas discovery from the exploratory well Tor-1 in the Latif Block, located in Khairpur District, Sindh Province. The Tor-1 well, operated by United Energy Pakistan Beta (UEP Beta) with a 33.40% working interest, along with joint venture partners PPL and Prime Pakistan Limited, each holding a 33.30% interest, successfully reached its…

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