Chairman Ogra Says Impact of Gas Price Hike Not Justified


During the hearing on the request by Sui Northern Gas to increase gas prices further, Chairman Ogra Masroor Ahmad Khan has stated that the impact of mandatory gas price hikes is not justified. Chairman Ogra Masroor Ahmad Khan, along with Finance Member Muhammad Naeem and Oil Member Zain-ul-Abideen, is conducting the hearing at Sui Northern Gas Company’s head office. The…

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PM directed Ministry Energy to complete 16 tasks within 1 to 3 months.


The recent increase in gas prices has led Prime Minister Shehbaz Sharif to express concern. According to sources, Prime Minister Shehbaz Sharif has issued directives to the Ministry of Energy to complete 16 tasks within 1 to 3 months. It has been reported that Prime Minister Shehbaz Sharif has also instructed the presentation of a forensic audit report on the…

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New Conference will Demystify and Chart Pathways for Green Finance at World Future Energy Summit 2024


‘Climate finance must happen in partnership between public and private sectors,’ says FAB Chief Sustainability Officer Conference debut comes as UAE looks to become Sustainable Finance Hub Abu Dhabi, March 25 2024: World Future Energy Summit, the leading business event for future energy and sustainability hosted by Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse,…

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Azad Pattan Hydropower Project Given Ultimatum by PPIB to Commence Work Within One Month


The Private Power and Infrastructure Board (PPIB) has issued a one-month ultimatum to Chinese Company M/s Azad Pattan Power (Pvt) Ltd -APPL to commence work on the 700.7-MW hydropower project. Failure to do so, along with obtaining approvals from M/s Sinosure, may lead PPIB to explore alternative options, according to sources familiar with the matter. This directive was conveyed during…

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Qatar Fund for Development Explores Opportunities in Pakistan’s Power Sector


The Chief Executive Officer of the Qatar Fund for Development (QFFD), Khalifa bin Jassem Al-Kuwari, expressed interest in expanding the fund’s involvement in Pakistan’s power generation and housing sectors during a two-day visit to Pakistan from March 23-24, 2024. The visit aimed to strengthen bilateral cooperation and explore opportunities for collaboration in key development areas. During discussions with Minister for…

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Oil Executives Remain Skeptical of Rapid Shift to Green Energy Amid Profit Boom


At the annual CERAWeek conference in Houston, oil executives voiced skepticism about a swift transition to green energy, citing ongoing high demand and record profits in the fossil fuel industry. This sentiment contrasts with global climate commitments made at COP28, where leaders pledged to increase renewable energy usage significantly by 2030. Despite growing concerns over climate change and record temperature…

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Pakistan Plans to Offer OGDCL Shares to Gulf Investors for Better Price


Pakistan is considering offering shares of the Oil and Gas Development Company Limited (OGDCL) to friendly nations in the Gulf region, including Saudi Arabia, the United Arab Emirates (UAE), Qatar, and Kuwait. The goal is to secure a better price for the shares, given the challenges faced during previous attempts to divest OGDCL’s shares on the stock market. Past efforts…

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Ogra Conducts Public Hearing on SNGPL’s 147% Tariff Hike Request


The Oil and Gas Regulatory Authority (Ogra) is conducting a public hearing in Lahore today on a petition by Sui Northern Gas Pipelines Limited (SNGPL) seeking a 147% increase in gas tariffs. SNGPL has requested an increase of Rs2,646 per mmBtu, aiming to set the new price at an average rate of Rs4,446.89 per mmBtu, which would result in a…

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Oil executives talk down rapid shift to green energy as profits boom


Houston: Big Oil used an industry conference this week to argue against a rapid transition to green energy, as fossil fuel companies are emboldened by high demand and record profits despite rising alarm over climate change. Executives attending the annual CERAWeek get-together in Houston expressed confidence that fossil fuel consumption would continue growing, just months after world leaders at the…

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Oil sector seeks urgent LC limit hike to avert industry collapse


KARACHI: The Oil Marketing Association of Pakistan (OMAP) has sought an immediate increase in the letters of credit (LCs) limits for oil marketing companies (OMCs), citing the country’s dire financial straits. “The pressing concerns surrounding foreign exchange losses, OMC margins, sales tax, smuggling of Iranian diesel, infrastructure development cess, and the revision of the price mechanism have pushed this vital…

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