Month: July 2023

Nepra works out Rs6.9/unit hike in base power tariff

Admin
Nepra-tariff

ISLAMABAD: In a shocking development, the National Electric Power Regulatory Authority (Nepra) has determined a massive increase of Rs6.90 per unit in the base tariff for the Financial Year 2023-24. The new base tariff was shared with the Power Division on Thursday, a senior official of the energy ministry told The News. The Rs6.90 per unit increase will push the base tariff to Rs31.70 for 2023-24 from Rs24.80 per unit in the last fiscal 2022-23. However, the government notified the base tariff for the last fiscal at Rs24 per unit.…

Read More

Pakistan, UAE sign MoU for developing renewable energy

Admin
Pakistan-UAE

ISLAMABAD: Pakistan and the United Arab Emirates (UAE) Thursday signed a Memorandum of Understanding (MoU) for the development of renewable energy projects in Pakistan. Prime Minister Shehbaz Sharif, UAE’s Special Envoy for Climate Change and Minister for Industries and Technologies Dr Sultan Ahmed Al Jaber and others witnessed the signing ceremony, state-run radio reported. Power Division Secretary Rashid Mahmood Langrial and the UAE Ministry of Energy and Infrastructure Undersecretary Sharif al Olama signed on behalf of their respective sides. The prime minister, while talking to Dr Sultan Ahmed Al Jaber,…

Read More

Hague court rules against India in row over dams

Admin
Hague-court

• Permanent Court of Arbitration holds it is competent forum to mediate dispute over Kishanganga, Ratle projects• Unanimous decision binding on all parties, cannot be appealed• Foreign Office says Pakistan committed to Indus Waters Treaty ISLAMABAD: In a major win for Pakistan, the Permanent Court of Arbitration (PCA) in The Hague on Thursday rejected India’s objections to its assumption of jurisdiction in a dispute between the neighbouring coun­tries over the Kishanganga and Ratle Hydroelectric projects, pursuant to the Indus Waters Treaty. Deciding in favour of Pakistan, the PCA ruled that it…

Read More

Two new blocks awarded for oil, gas search

Admin
Oil price

OGDCL wins exploration blocks in Sindh and Punjab KARACHI: The government has provisionally awarded two new blocks to a leading state-owned oil and gas exploration firm in an effort to find fresh large hydrocarbon deposits and reduce reliance on energy imports. Oil and Gas Development Company Limited (OGDCL) reported to the Pakistan Stock Exchange (PSX) that the government had provisionally awarded it a block (Sehwan 2,667-19) in Sindh and another (Zindan-II 3,271-9) in Punjab with 100% working interest. Earlier, the company participated in competitive bidding for new exploration blocks in…

Read More

UAE To Invest $45 Billion Through 2030 To Meet Its Growing Energy Demand

Admin
UAE-To-Invest

The United Arab Emirates has announced plans to invest up to $54 billion over the next seven years to meet its growing energy demands and triple its supply of renewable energy. UAE and Saudi Arabia are the two GCC members leading in renewable energy investments and rapidly diversifying their energy portfolios in the Gulf region. Last year, the Emirates Nuclear Energy Corporation (ENEC) announced the commissioning of the country’s first-ever nuclear power plant–the Barakah unit 1. The 1,400-megawatt nuclear plant is the single largest electricity generator in the UAE since reaching 100% power…

Read More