Year: 2023

Investors in solar power projects have aired serious concern over the blocking of equipment imports by the central bank, saying such restrictions have led to a halt in project implementation. The issue was taken up in a meeting National Electric Power Regulatory Authority (Nepra) held with small and large solar power project owners, especially those who were working in Balochistan. It was noted that there were several areas in Balochistan that had huge opportunities for developing solar energy projects and in such a situation, people could come forward to finance…

Read More

Pak-Arab Refinery Limited (PARCO) has a signed a memorandum of understanding (MoU) with two foreign companies to explore opportunities in sustainable fuels and feedstock production in Pakistan, a statement said on Thursday. UAE-based Mubadala Energy and an Austrian petrochemical firm OMV Downstream GmbH (OMV) to help PARCO find out possibilities of pursuing projects in circular economy initiatives, including sustainable fuels, plastics production and recycling, feedstock, and development of synthetic oil and chemical products. The collaboration seeks to utilise cutting edge technologies while leveraging existing infrastructure and market access. The agreement…

Read More

In November too, nuclear generation was the top source after hydropower. Nuclear sources contributed 2,338 GWh of electricity to the national grid. Pakistan has been actively pursuing the plan to increase the share of cleaner energy sources in its energy mix, as carbon-based power, especially oil and gas not only affect the environment but are also expensive. Each year, Islamabad spends multi-billion dollars on fossil fuels imports. In December, out of the total pie of electricity generated from all sources, the share of nuclear energy was 27.15 percent (or 2,284.8…

Read More

The federal cabinet has accorded its approval to ink agreements with Russia for the import of crude oil and Liquefied Natural Gas (LNG) and other items. The official sources said the cabinet okayed a summary for the import of two commodities and others from Russia through circulation on Wednesday. The federal cabinet also approved an agreement with Russia on issues relating to custom and other matters. It may be pointed out here that a high-level delegation from Russia, including the Minister for Energy, Nikolay Shulginov, is currently in Islamabad to…

Read More

To improve the efficiency of Peshawar Electric Supply Company (Pesco) and reduce its losses, the federal government has divided the company into two companies. PESCO shall be divided into two companies i.e. PESCO and new company with the name of Hazara Electric Supply Company (HAZECO), said a notification issued here by the Ministry of Energy (Power Division). In pursuance of Rule-4(5) of Rules of Business, the Prime Minister has been pleased to approve the establishment of Hazara Electric Supply Company (HAZECO), vide their U.O. No.22/PSPM/2023 dated 4.01.2023. For overall better…

Read More