Month: April 2024

Govt Accelerates Deregulation of Fuel Prices to Tackle Smuggling and Industry Challenges

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OGRA

The Pakistani government has ramped up efforts to deregulate petroleum product prices in response to mounting challenges such as fuel smuggling and industry complaints. This move aims to shift public criticism towards oil marketing companies (OMCs) and address issues plaguing the oil sector. Under a directive from the petroleum division, the Oil and Gas Regulatory Authority (Ogra) has been tasked with presenting an analysis of the implications of deregulation within a tight timeframe of three days. This analysis will focus on aspects like in-country freight equalisation margins (IFEM) and related…

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Hydropower Takes Center Stage at IRENA General Assembly

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Karot-Hydropower

During the recent IRENA General Assembly, member countries emphasized the critical role of sustainable hydropower in accelerating their energy transition efforts. The International Hydropower Association (IHA) played a pivotal role in this dialogue, offering a platform for showcasing good practices, sharing progress, and providing guidance and policy recommendations for enhancing sustainable hydropower. IHA’s CEO, Eddie Rich, and Head of Policy, Gordon Edge, actively participated in the assembly to ensure that sustainable hydropower remains central to the global energy conversation. This year’s assembly placed a sharper focus on Africa, recognizing the…

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E&P Firms Warn of Production Suspensions

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The Pakistan Petroleum Exploration and Production Companies Association (PPEPCA) has issued a warning, stating that the non-payment of dues by Sui gas companies has reached an alarming Rs1,500 billion as of March 15, 2024. This substantial debt, coupled with recent massive gas tariff increases, is hindering further exploration and production activities in the country. In a letter addressed to Petroleum Minister Dr Musadik Malik on April 17, 2024, the PPEPCA highlighted the liquidity crisis faced by Exploration and Production (E&P) firms. Despite significant hikes in gas tariffs, Sui gas companies…

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Khatm Al Shaklah Area in Al Ain Receives 254.8 mm of Rainfall in Less Than 24 Hours UAE Witnesses Highest Rainfall in 75 Years

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Highest-Rainfall

According to a statement released by the National Center of Meteorology, the United Arab Emirates experienced the highest rainfall in its recent history over the past 24 hours, in many areas, marking the largest since the beginning of climate data recording in 1949. The National Center of Meteorology confirmed that the record-breaking rainfall amounts that fell on the country during the past 24 hours until 9:00 PM on Tuesday, April 16, 2024, constitute an exceptional event in the climatic history of the UAE since the beginning of climate data recording.…

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Surge in Nuclear and Coal Power Costs Challenges Pakistan’s Energy Sector

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power-generation

Recent data from the Central Power Purchasing Agency (CPPA) reveals a substantial increase in the costs associated with nuclear and local coal power generation in Pakistan, presenting a significant challenge to the energy industry. Nuclear-based power generation has experienced a notable surge in expenses, with operational costs rising by over 17 percent in recent months. This increase has put financial strain on nuclear power producers, leading to a shift in its contribution to the national grid from the top spot in January 2024 to second place in February and March…

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