Month: June 2023

LNG import: ECC approves framework deal between PLL, Azerbaijan firm

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LNG-import

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved the framework agreement between Pakistan LNG Limited (PLL) and State Oil Company of Azerbaijan Republic (SOCAR) for LNG import and funding of Rs157.734 million for the Heavy Electrical Complex (HEC). The ECC also approved Rs404.769 million to meet maintenance requirements of the 6-Aviation Squadron. Top official sources said that Six Aviation Squadron of Cabinet Division operates a fleet of helicopters. The squadron was given the mandate to carry out relief and rescue operations besides missions related to VVIP and…

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Taj Gasoline eyes 41 percent stake in cash-strapped Hascol

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cash-strapped

KARACHI: Taj Gasoline (Private) Limited on Wednesday announced an intention to acquire at least 41 percent stake in Hascol Petroleum Limited. In a notice to the Pakistan Stock Exchange, AKD Securities Limited, manager to the offer by Taj, made the announcement. “On behalf of the acquirer, we are pleased to submit a public announcement of intention to acquire at least 41 percent of the issued and paid-up share capital and control of Hascol Petroleum Limited,” the notice read. Taj Gasoline is an oil marketing company with a network of retail…

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SSGC suspends gas supply to industries to combat Biparjoy

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gas-supply

KARACHI: The Sui Southern Gas Company (SSGC) on Wednesday suspended gas supply to all industries in a bid to combat the possible adverse impact of Cyclone Biparjoy. In a statement, the company said it had stopped gas supplies to all industries including their units for power generation, fertiliser sector and CNG stations. “This decision has been taken in the backdrop of possible striking of cyclone Biparjoy and considering the shortage of natural gas and RLNG,” the company said. The firm added the gas supply had been suspended from 7:00 am…

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Petrol prices may slide lower in next fortnightly review

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Petrol-price

KARACHI: Petrol price would likely witness some decrease in the next fortnight when the government would revise the prices of petroleum products, The News learned on Wednesday. However, the price of diesel would likely jump by Rs5/litre in the next fortnight review of its price, industry people said. They noted that price would likely fall from three to five rupees in the coming fortnight, in case the government kept the exchange rate adjustment, zero. According to the working of the industry, the ex-depot price of high speed diesel (HSD) has…

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LONGi announces new conversion efficiency of 33.5% for its silicon-perovskite tandem solar cells at Intersolar Europe 2023

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LONGi-announces

The Intersolar Europe 2023, one of the world’s leading exhibition for the solar industry, kicked off in Munich, Germany on June 14, 2023. At the exhibition site, LONGi announced the new conversion efficiency of 33.5% for silicon-perovskite tandem solar cells based on commercial CZ silicon wafers. According to the European Solar Test Installation (ESTI), LONGi has achieved conversion efficiency of 33.5% for silicon-perovskite tandem solar cells, an increase of 1.7% from the previous 31.8% published on the 16th International Photovoltaic Power Generation and Smart Energy Conference & Exhibition (SNEC) in Shanghai. Currently…

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