Month: March 2024

PM Orders Forensic Analysis of Gas Companies’ Revenue Requirements

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Prime Minister Initiates Third-Party Analysis of Sui Gas Companies’ Revenue Needs In a recent development, Prime Minister Shehbaz Sharif has instructed a third-party forensic analysis of the revenue requirements for Sui gas companies, as determined by the Oil and Gas Regulatory Authority (Ogra). This directive came during a presentation on the petroleum sector, highlighting the government’s commitment to ensuring transparency and accuracy in revenue assessments. The meeting chaired by the Prime Minister also outlined several key presentations to be made within a month, covering areas such as Weighted Average Cost…

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Industrialists Urge Government Action on Energy Amid IMF Concerns

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IMF-board

Karachi’s Industrial Sector Calls for Energy Cost Reductions and Policy Reforms Amid concerns over the International Monetary Fund’s (IMF) Staff-Level Agreement (SLA) and its impact on energy policies, Karachi’s industrialists are urging the newly-elected government to take decisive action to reduce energy costs and implement comprehensive economic reforms. The industrial sector faces potential shutdowns if critical infrastructure deficiencies are not addressed promptly. Expressing apprehension about the IMF-SLA objectives, especially regarding energy policies, industrialists warn that implementing these measures without addressing infrastructure gaps could lead to widespread closures of companies nationwide.…

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Pakistan Urges Climate Financing at UN Meeting

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Climate-Talks

Pakistan Advocates for Concessional Climate Financing at UN Session During a United Nations meeting focused on sustainable energy goals, Pakistan emphasized the urgent need for concessional climate financing to aid developing countries in transitioning away from fossil fuels. Ambassador Munir Akram highlighted that without such financing, achieving set targets would be challenging for developing nations. In his remarks at the ‘Group of Friends for Sustainable Energy’ meeting, Ambassador Akram emphasized that energy plays a central role in both the 2030 Agenda for Sustainable Development and global climate objectives. He stressed…

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RLNG Prices Increase After Two Monthly Reductions

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New-RLNG

Ogra Raises RLNG Prices Due to Higher International Rates The Oil and Gas Regulatory Authority (Ogra) has announced an increase in the sale price of Regasified Liquified Natural Gas (RLNG) for Sui gas companies SSGCL and SNGPL, citing higher international prices. This hike comes after two consecutive monthly price cuts of 9% in February and 8% in January. For March, the RLNG sale price for Lahore-based Sui Northern Gas Pipelines Ltd (SNGPL) has been raised by 2.75% to $11.86 per mmBtu, compared to $11.55 in February. Similarly, the RLNG sale…

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Solis Embarks on a Sustainable Venture with AE Power with 300MW Distribution Deal to Transform Pakistan’s Energy Sector

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In an innovative endeavor to reshape the energy sector, Solis, the world’s third-largest PV inverter manufacturer, has entered into a pioneering partnership with AE Power, showcasing a significant inverter distribution agreement that promises to invigorate the shift towards renewable energy in Pakistan. Valued at an impressive 300MW and spanning from 2024 to 2025, this alliance marks a key milestone in the adoption of environmentally friendly power sources within the region. This initiative is more than a mere business venture; it is a reflection of Solis’s unwavering commitment to technological advancement…

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