Day: January 26, 2024

Pakistan Refinery Limited Unveils Vision for a Sustainable Energy Future at PRL Connect 2024

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Pakistan_Refinery_Limited

Karachi, Friday, January 26, 2024Pakistan Refinery Limited (PRL) hosted its flagship event, PRL Connect 2024, on Friday, January 26, 2024, at Mövenpick Hotel, Karachi, under the theme “Powering Progress, Doubling Capacity.” The event provided a platform for industry leaders, stakeholders, and partners to converge and explore PRL’s transformative journey towards a sustainable energy future.Key Highlights: About Pakistan Refinery Limited:Pakistan Refinery Limited was incorporated in Pakistan as a public limited company in May 1960. The company is engaged in the production and sale of petroleum products. The Company is a subsidiary…

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Ministry of Energy (Petroleum Division) announces Oil, Gas and Minerals Career Expo

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Ministry-Energy

The Ministry of Energy (Petroleum Division), in partnership with the prominent Oil, Gas and Mineral companies, is thrilled to announce first of its kind, national level upcoming career expo set to take place on January 31 and February 1, 2024 at the Pakistan China Friendship Centre, Islamabad. With the theme “Fuelling Futures”, the Career Expo 2024  aims to create awareness and bridge the gap between students and Oil, Gas and Mineral Companies. It will facilitate meaningful interactions, and career development resources for attendees as the senior management and Human Resource…

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SDPI’s moot on energy sector reforms

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SDPI-logo

‘Next elected Govt should declare emergency in Pakistani energy sector to effectively deal with many of its woes including circular debt’ The incoming elected government should declare a state of emergency in the energy sector to effectively deal with many of its issues that have been persisting for the last many decades and continuously worsening each passing day.This was one of the emphatic recommendations shared by the concerned speakers who attended the recently held panel discussion to suggest the way forward for the next elected government in the country to…

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Small-scale solar good for environment, but agrivoltaics might be better

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Small-scale

Canadian researchers have conducted a lifecycle analysis showing that it’s good for the environment to put solar on rooftops, but a mix of small-scale PV and agrivoltaics might be a better alternative. A study conducted at the University of Western Ontario compared both large and small solar installations and concluded that small-scale solar systems are better for the environment than even the largest, most efficient, utility-scale solar projects. Solar is scaling up in the United States and Canada in part because solar energy is the lowest-cost form of new-build electricity in  many markets, according…

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Hopewind, an all-round player in the global renewable energy stage

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Hope-wind

Encompassing wind power, solar energy and energy storage systems, power conversion equipment including wind power converters, photovoltaic inverters, and energy storage converters share the common basic technology. The long-term reliability and stability of these components are of utmost importance for the sound operation of power plants, and are also where Hopewind’s strengths lie.  A leader in the wind power industry Established in April 2007 in Shenzhen, China, Hopewind’s first business order was to provide core modules for wind power converters. In 2009, Hopewind broke the bottleneck of voltage failure caused…

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Turkish firm wants probe into ‘Lot-1 affair’

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power-subsidy

ISLAMABAD: Turkish energy firm M/s SA-RA has urged caretaker Minister for Power and Petroleum Muhammad Ali to undertake a fair and independent investigation of 765-Kv Dasu transmission line (Lot-1) project. The company’s representative Caglar TEPE, in a letter to the caretaker Minister stated that the company understands that the Senate Standing Committee on Power and the World Bank Integrity Vice Presidency Department now possess the necessary evidence to substantiate its serious concerns about gross irregularities in the evaluation of the project with the intention of manipulating the contract. “We request…

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Jul-Dec power sector circular debt soars to Rs2.55trn

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Power-control

ISLAMABAD: The country’s power sector circular debt stock is said to have reached Rs 2.551 trillion during first six months (July-December) 2023-24, showing 10.5 per cent growth in flow per month – Rs 40 billion in total terms – sources close to caretaker Minister for Power and Petroleum told Business Recorder. According to sources, circular debt stock which touched Rs 2.310 trillion at the end of 2023-24, with a growth of Rs 57 billion in stock, is now hovering at around Rs 2.551 trillion with a growth of Rs 241 billion…

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Tesla plans to build new electric vehicles in mid-2025

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New-Tesla

Production of affordable EV codenamed “Redwood” starts in 2025, targeting mass market with compact crossover design Tesla has told suppliers it wants to start production of a new mass market electric vehicle codenamed “Redwood” in mid-2025, according to four people familiar with the matter, with two of them describing the model as a compact crossover. Tesla CEO Elon Musk confirmed on a post-earnings call on Wednesday that the company expects to start production of its next-generation EV at its Texas factory in the second half of 2025. That will be followed by Mexico…

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FBATI president urges further power tariff cuts

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power-gride

Hussain believes this will enhance overall investment climate, attracting both local, foreign investors KARACHI: Federal B Area Trade and Industries (FBATI), President, Syed Raza Hussain stated that the decision to reduce the power tariff by 7 cents will provide some relief to industrial consumers nationwide. He praised the caretaker government for announcing the reduction of the power tariff from 16 cents per KWh to 9 cents per KWh and urged the upcoming government to further revise down the power tariff. This, he believes, will empower industries to significantly reduce their…

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PM Kakar invites Saudi group to invest in alternative energy sector

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K-Electric

ISLAMABAD: Careta­k­er Prime Minister An­­w­a­arul Haq Kakar on Thu­rsday urged the Al-Jomaih Group of Saudi Arabia to invest in the alternative energy sector of Pakistan. Mr Kakar, in a meeting with a four-member delegation, led by the Al-Jomaih Group head Sheikh Abdulaziz Hamm­ad, said Pakistan and Saudi Arabia had brotherly ties which were getting further stronger. Al-Jomaih earlier made a huge investment in K-Electric. The prime minister said that Pakistan greatly valued the Saudi investment and welcomed its investment in the energy sector. He also lauded K-Electric’s strategy to invest…

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