Day: March 18, 2024

PSA clarifies no order issued for suspension of its activities, ceasing of its operations

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Solar-Association

The Pakistan Solar Association (PSA) has clarified that no order has been issued by the Director-General of Trade Organisations (DGTO) or any other authority to suspend its activities or cease its operations.PSA Chairman, Amir Chaudhry, in a statement issued in response to certain news reports taking rounds on the reported revocation of the association’s license, clarified that the directives in question issued by the DGTO hadn’t been based on merit as the authority had merely sent its recommendations to the federal government.He said the PSA worked in compliance with the…

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PPIB Seeks Update from KE on 330MW Mine-Mouth Project at Thar Coal Fields

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power-sector

The Private Power & Infrastructure Board (PPIB) has reached out to K-Electric (KE) for an update on the procurement process for the development of a 330MW Mine-Mouth coal-fired project at Thar Coal fields. KE was requested to initiate and complete grid interconnection and load flow studies within four weeks, but no progress has been shared with PPIB yet. KE proposed a joint study with the National Transmission and Despatch Company (NTDC) for power evacuation from Siddiqsons Energy Limited (SEL) plant and power off-take by KE’s network. The project aims to…

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PM Directs Signing Ceremony for Refinery Upgrade Agreements

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oil-refinery

Prime Minister Shehbaz Sharif has instructed the Petroleum Division to organize a signing ceremony for refinery upgrade agreements under the Brownfield Refinery Policy, with his presence. This decision came during a recent energy sector meeting chaired by the Prime Minister. The Petroleum Division has initiated discussions with refineries for the ceremony. The amended oil refining policy, approved by the Cabinet on February 15, 2024, after recommendations from the Cabinet Committee on Energy (CCoE), addresses concerns raised by refineries to make upgradation projects viable. The amendments, made after extensive consultations, aim…

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Iran Inks Billions in Contracts to Boost Oil Production Amid Sanctions

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Iran-Inks

Iran has recently finalized contracts worth billions of dollars with domestic companies to enhance its oil production despite Western sanctions. The deals, considered Iran’s “biggest oil contracts in the past decade,” aim to increase daily oil output by 350,000 barrels per day, according to Shana, the official oil industry news agency. In a ceremony broadcasted on state TV, Iran’s oil ministry and local businesses signed agreements totaling $13 billion. These contracts focus on leveraging domestic expertise to bolster production in key fields, including the Azadegan field in Khuzestan province bordering…

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EU and Egypt Agree on 7.4 Billion Euro Deal Focused on Energy and Migration

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Euro-Deal

A high-level delegation from the European Union (EU), led by European Commission President Ursula von der Leyen and joined by leaders from Austria, Belgium, Cyprus, Greece, and Italy, visited Egypt to announce a significant financial package totaling 7.4 billion euros. The deal, aimed at enhancing energy trade and addressing irregular migration flows to the EU, includes various components such as credit for Egypt and increased energy sales to reduce reliance on Russian gas. The Strategic and Comprehensive Partnership agreement encompasses five billion euros in loans over four years, 1.8 billion…

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