Month: January 2022

Imposition of 17pc tax on solar energy equipment assailed

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The government’s decision to impose 17 per cent sales tax on solar panels, inverters and related equipment will jeopardise the very essence of the National Renewable Energy Policy which aims to acquire a 30 per cent share of renewables in energy mix by 2030. Pakistan Solar Association chairman Rana Ghulam Abbas said the increase in prices of solar energy systems/equipment is taken as a threat to the progress of the renewable energy sector and all the stakeholders foresee a drastic negative impact on the future of renewable in the country.…

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Resolution of dispute on JJVL LPG plant: Petroleum Div asked to submit summary to ECC

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The Cabinet Committee on Energy (CCoE) has directed the Petroleum Division (PD) to submit a formal summary to the Economic Coordination Committee (ECC) of the Cabinet for resolution of a dispute on Jamshoro Joint Venture Limited (JJVL) LPG plant, official sources told Business Recorder. On December 23, 2021, Deputy Chairman, Planning Commission informed the CCoE that Prime Minister while chairing a meeting on LNG Terminal + Virtual LNG Pipeline held on November 15, 2021, directed the Deputy Chairman, Planning Commission to look into the issue of JJVL LPG and submit…

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Pakistan State Oil

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Being the largest marketing company, Pakistan State Oil (PSX: PSO) has the largest market share I the OMC sector involved in the marketing and distribution of motor gasoline (Mogas), high speed diesel (HSD), furnace oil (FO), jet fuel (JP-1), kerosene, CNG, LPG, petrochemicals and lubricants. It also imports products like Mogas, HSD JP-1 and furnace oil based on the demand. It has the largest distribution network in the country. Government of Pakistan holds the highest shareholding making up 22.47 percent shares of PSO, according to the latest pattern of shareholding;…

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EU draft on financing nuclear, gas plants raises ire

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Draft European Union plans that would allow nuclear and gas energy to remain part of the bloc’s path to a climate-friendly future came under immediate criticism over the weekend from both environmentalists and some governing political parties in EU member nations. In draft conclusions, the EU’s executive commission proposes a classification system for defining what counts as an investment in sustainable energy. Under certain conditions, it would allow gas and nuclear energy to be part of the mix. The plans would have a huge impact on nuclear-fired economies like France…

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OGDCL Discovers Huge Oil, Gas Reserves in KP

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Pakistan’s prime oil and gas exploration company, OGDCL has discovered huge oil and gas reserves in the Wali block near Lakki Marwat in KP. The find is being estimated as the biggest one in the last decade, top sources in the Energy Ministry told The News on Sunday. “The Wali block reserves are considered equal or more than the reserves found in the Nashpa field. The Nashpa reserves are equal to 95 MMBOE (million barrels of oil equivalent). Once the Wali block is developed with at least nine to ten…

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