Day: May 29, 2024

Speakers stress need for removing bottlenecks in promotion of oil, gas sectors

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oil-gas

Islamabad: Speakers at a conference while highlighting importance of deregulation of the petroleum sector, on Wednesday stressed the need for removing bottlenecks in promotion of oil and gas sectors in the country.They were of the views that all stakeholders, government and regulators should set together and devise a concrete strategy in larger national interest to counter various mafias creating hurdles in promotion of this important sectorThe Oil and Gas Conference Pakistan (OGCP-2024), organized by Energy Update in collaboration with the Ministry of Energy (Petroleum Division) and the Oil and Gas…

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Hopewind Leads the Electrical Revolution with Grid-Forming Technology

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Hopewind-Project

As a distinguished leader in electrical solutions, Hopewind excels in technical innovation, constantly injecting new momentum into the progress of a more reliable and stable renewable energy ecosystem. The introduction of grid-forming technology is a core component of Hopewind’s pioneering efforts. What is Grid-Forming Technology? Grid-Forming is a revolutionary technology designed to ensure the stable and reliable operation of power grids, especially in the context of renewable energy integration and decentralized networks. Rather than traditional Grid-following systems, Grid-Forming Technology actively regulates the grid’s frequency and voltage, ensuring grid stability even…

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BRI Projects Set for Revival: Pakistan Seeks Joint Ventures in Renewable Energy and Agriculture

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pak-china

ISLAMABAD: Federal Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, expressed optimism on Tuesday about reinvigorating projects under China’s Belt and Road Initiative (BRI) to bolster Pakistan’s struggling economy. In an interview with Bloomberg, Iqbal highlighted the government’s plans to form joint ventures in renewable energy and agriculture, and to attract Chinese companies to relocate to Pakistan. “I’m very hopeful because I was in China recently and had meetings with their senior leadership… so I see great interest on the Chinese side to revive the momentum for CPEC and…

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Petrol and Diesel Prices Set to Decrease by Up to Rs7.5 Per Litre on May 31

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Petroleum-prices

Islamabad – May 29, 2024 – In light of a bearish trend in the international market, petrol and high-speed diesel (HSD) prices in Pakistan are expected to decrease by approximately Rs6.50 to Rs7.50 per litre on May 31. This comes despite a slight exchange rate loss. Informed sources reported that international prices of petrol and HSD have dropped by about $3.25 and $2.10 per barrel, respectively, over the last fortnight. This follows previous reductions of $8.7 and $4.3 per barrel, respectively, in the preceding fortnight. Based on the final calculation…

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Chairman WAPDA Urges Accelerated Progress on 1530 MW Tarbela 5th Extension Hydropower Project

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Wapda-Project

Chairman WAPDA, Engr Lt Gen Sajjad Ghani (Retd), has called for the deployment of additional resources to ensure the Tarbela 5th Extension Hydropower Project commences electricity generation by 2025-26. During his recent visit to the project site at Tunnel No. 5 of Tarbela Dam in Khyber Pakhtunkhwa, the Chairman reviewed construction activities and assessed progress. Accompanied by senior officials including Member Water, Member Power, and Project Directors of Tarbela 4th and 5th Extensions, the Chairman inspected various construction sites such as the raised intake, power house, and tunnel. Consultants and…

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