Day: December 15, 2023

Latest Petrol Prices in Pakistan – 16 December 2023

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Petroleum-prices

The caretaker Government has reduced the Petrol Prices in Pakistan for the next fortnight from 16 December 2023 till 31 December 2023. According to the details, the Government has reduced the Price of Petrol, High-Speed Diesel (HSD), Kerosene Oil and Light Diesel Oil (LDO) has seen a minor reduction. According to the announcement, the Petrol Price has been reduced by Rs. 14.00 per litre, while the Price of High-Speed Diesel (HSD) has been slashed by Rs. 13.50 per litre. Similarly, the Price of Kerosene and Light Diesel Oil (LDO) has seen a reduction…

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MCB Bank and AE Power Join Hands for Clean Energy

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MCB-AE

In a significant move toward sustainable energy solutions, MCB Bank and AE Power have recently signed an agreement for the delivery of cutting-edge Huawei inverters. This strategic partnership promises to revolutionize the landscape of energy efficiency in the region.The signing ceremony, graced with the presence of key representatives from both MCB Bank and AE Power, marks the beginning of a partnership dedicated to advancing clean energy technologies. The collaboration emphasizes a shared vision for a greener future and the commitment of these two industry leaders to drive positive change. The…

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Jhal Magsi South Field: ECC approves special incentives

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OGDCL

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved special incentives for Jhal Magsi South Field, which, according to third party, was not economically viable under current policy prices, well-informed sources told Business Recorder. Petroleum Division briefed the ECC that Pakistan was facing challenges in meeting ever-growing energy needs due to expanding population, natural depletion of major oil/gas fields, increase in demand and dearth of new big discoveries. Increasing exploration and development activities were essential to overcome these challenges. Government had taken various measures, including introduction of Marginal Field…

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Govt-KE draft agreements need revision: Nepra

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nepra

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) has proposed revision in draft agreements between the Government of Pakistan (GoP) and K-Electric to align with the provisions of amended Nepra Act 2018, National Electric Policy 2021 (NE Policy), National Electricity Plan 2023 (NE Plan), new Market Commercial Code 2022(MCC) of CPPA as Market Operator, new Grid Code 2023 of NTDC as System Operator, draft Special Purpose Agent(SPA) Code of CPPA as Agent of Discos and other applicable documents, for successful and sustainable implementation. The Economic Coordination Committee (ECC) of the Cabinet…

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Over Rs13 per litre cut in petrol price likely

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pso

Projection based on global oil price fall, rupee strengthening ISLAMABAD: Prices of petrol and high-speed diesel are expected to decline up to Rs13.66 per litre effective from December 16, 2023, which is in line with the fall in international markets and appreciation of Pakistani rupee. In case the caretaker government does not allow exchange rate adjustment to Pakistan State Oil (PSO), a major importer and marketer of petroleum products, estimates suggest that ex-depot prices of petrol and diesel may drop significantly. According to oil industry estimates, based on the current…

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