Pakistan Refinery Posts Highest Ever Half-Year Profit


Pakistan Refinery Limited (PRL) has announced its financial results for the half-year ended December 31, 2023, showcasing the highest-ever profit and production milestones in the first half of the fiscal year in the company’s history. During the first half of the financial year 2023, PRL achieved an exceptional profit after tax of Rs. 6.51 billion, a substantial increase from Rs.…

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Faysal Bank and Total Parco Sign Agreement for Digital Payments Acceptance


Karachi, 2 February 2024 – Faysal Bank Limited and Total Parco, signed an agreement for the provision of cashless transactions across Total Parco’s extensive retail network.Through this alliance Faysal Bank’s state-of-the-art point-of-sale card acceptance solution will provide Total Parco’s customers the ability to make payments via cards as well as NFC solutions. Commenting on the partnership, Mr. Yousaf Hussain, President…

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Trina Solar Heralded as an ESG Champion by Bloomberg Green


Trina Solar has been recognized for its exceptional performance in promoting sustainable development by gaining a Bloomberg Green ESG-Enterprises award as part of the Bloomberg Green ESG 50 list. This achievement once again underscores Trina Solar’s leadership in the photovoltaic industry. Drawing on data from the Bloomberg ESG Index and the advice of global experts, Bloomberg Green conducted a six-month…

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MPCL successfully drills well in Mari Deep Goru-B formation

KARACHI: Mari Petroleum Company Limited (MPCL) has successfully drilled another development well in Mari Deep Goru-B formation in the Mari Development and Production Lease (D&PL), Sindh. “As part of the field development activities in the Mari D&PL area, MPCL has successfully drilled and tested Mari Deep-20 well in the Goru-B formation”, material information sent to Pakistan Stock Exchange on Thursday…

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Engagement with IPPs: CCoE directs PD to initiate separate case


ISLAMABAD: The Cabinet Committee on Energy (CCoE) has directed the Power Division to initiate separate case for engaging with remaining Independent Power Producers (IPPs), including those dealing with hydel power that did not sign the MoUs, official sources told Business Recorder. On January 26, 2024, the CCoE was informed that the Power Division moved a summary titled Implementation of Master Agreements…

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Karot hydropower project: Chinese firm concerned at curbs on its staff’s movement


ISLAMABAD: Chinese company M/s China Three Gorges South Asia Investment Ltd (CSAIL) has reportedly expressed serious concern over restrictions on movement of its employees working on 720 MW Karot hydropower project due to security threat, well-informed sources told Business Recorder. SCAIL, is an investment holding company formed by China Three Gorges Corporation, which is the world’s largest clean energy company with…

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Oil gains after OPEC+ maintains output cuts, but heads for weekly losses


SINGAPORE: Oil prices rose in early trade on Friday following a decision by OPEC+ to keep its oil output policy unchanged, though benchmarks were headed for weekly losses amid unsubstantiated reports of a ceasefire between Israel and Hamas. Brent crude futures climbed 37 cents, or 0.5%, to $79.07 a barrel at 0415 GMT, while U.S. West Texas Intermediate crude futures…

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CDWP clears four projects worth Rs138.66bn


ISLAMABAD: The Central Development Working Party (CDWP) has cleared four development projects with a total cost of Rs138.66 billion. The CDWP approved one development project with a cost of Rs2 billion and recommended three projects valued atRs136.660 billion to the Executive Committee of the National Economic Council (ECNEC) for further consideration. The CDWP met with Deputy Chairman Planning Commission Mohammad…

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Nizam Energy and its Partner Scatec Solar are proud to announce the start of Commercial Operations at its landmark 150MWp Solar Power Plant in Sukkur, Pakistan. The power plants will generate approximately 300 GWh annually under 25-year power purchase agreements with Central Power Purchasing Agency of Pakistan (CPPA). The Solar Power Plant is located in the city of Sukkur, and…

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