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Day: April 15, 2024

PEL Prevails in International Court Over Oil Dispute with Canadian Firm

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oil-and-gas

Islamabad, Pakistan – In a significant legal victory, Pakistani oil firm Petroleum Exploration (Pvt) Ltd (PEL) has emerged triumphant in a protracted legal battle against Bermuda-based Frontier Holdings Ltd (FHL) at the International Court of Arbitration. The ruling, spanning over 80 pages, solidifies Pakistan’s legal authority over Petroleum Concession Agreements (PCAs) and Joint Operating Agreements (JOAs) within its borders. FHL,…

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PM Advocates for Renewable Energy, Commends Punjab’s Anti-Theft Measures

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Renewable-Energy

Islamabad: Prime Minister Shehbaz Sharif has reiterated his push for renewable energy generation, commending the Punjab government’s efforts to combat power theft. In a recent high-level meeting focused on the power sector, he emphasized the need to transition towards renewable energy sources, highlighting the challenges posed by oil tanker companies and the potential benefits of renewable energy in reducing oil…

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New players eye Pakistan’s growing hybrid, electric vehicles market

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electric-vehicles

ISLAMABAD: As the auto market continues to grow in Pakistan, new players are setting their sights on introducing hybrid as well as electric vehicles (EVs) in the country, and one of the largest automakers has announced its entry into Pakistan. The BYD Group of China has recently announced its entry into the passenger vehicle market in Pakistan in collaboration with…

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Sindh preparing policy to produce gas from Thar coal

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coal

KARACHI, April 15 (INP) — The Sindh energy department will prepare a draft policy for production of liquid gas from coal, said Asif Mangi, Deputy Director Sindh Coal Authority (SCA), in an interview with WealthPK. This decision was made in a high-level meeting of Sindh Coal Authority chaired by Sindh Energy and Planning Minister Syed Nasir Hussain Shah recently. SCA…

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Masdar to Host World Future Energy Summit and Green Hydrogen Summit in UAE

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Future-Energy

Abu Dhabi: Masdar, a leading player in the UAE’s clean energy sector, is gearing up to host the World Future Energy Summit (WFES) and the Green Hydrogen Summit from April 16 to 18 at the Abu Dhabi National Exhibition Centre (ADNEC). This global event focuses on future energy, clean technology, and sustainability, drawing participation from key stakeholders worldwide. The Masdar…

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Refineries Seek End to Smuggled Petroleum Products to Secure $6 Billion Investment for Upgradation Projects

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oil-refinery

Local refineries in Pakistan are poised to kickstart $5-6 billion investments over the next six years for their upgradation projects, with a key condition: putting an end to the influx of smuggled petroleum products from Iran. This condition is crucial to ensure the viability of the refineries’ expansion plans and the production of Euro-V diesel and petrol. The Oil Companies…

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Fuel Prices Expected to Rise by Up to Rs8.50 per Litre

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Petrol-price

In response to international market trends, fuel prices in Pakistan are anticipated to increase significantly, with petrol and high-speed diesel (HSD) likely to rise by approximately Rs2.50 and Rs8.50 per litre, respectively, starting Monday, April 15, for the next two weeks. These adjustments come despite a reduction in import premiums and a slight strengthening of the rupee against the dollar.…

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LPG Industry Opposes Government Intervention, Fearing Anti-Competitive Practices

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LPG-Air-Mix-Plant

LPG producers and marketing companies in Pakistan have raised concerns over the government’s proposed intervention in LPG allocation, as outlined in the new LPG Policy 2024. The industry fears that this intervention could lead to anti-competitive practices and undermine the spirit of deregulation. Under the proposed policy, the Petroleum Division suggests allocating up to 10% of LPG production to Sui…

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26 Public Sector Organizations in Pakistan Trained on Solar Power Purchase Agreements

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Solar-Power

In a bid to harness Pakistan’s abundant solar energy potential, the Pakistan Private Sector Energy (PPSE) Project, funded by USAID and implemented by PFAN in partnership with UNIDO and REEEP, conducted a comprehensive training session for public sector entities. Held at Avari Hotel Lahore on March 2-3, 2023, the training focused on Solar Power Purchase Agreements (PPAs) and their role…

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