Day: October 29, 2024

Equitable energy access urged amid solar surge

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solar surge

ISLAMABAD: The rapid growth of rooftop solar systems is transforming Pakistan’s energy landscape but also creating disparities for lower-income electricity consumers who remain dependent on the traditional grid. To address this, ensuring equitable energy access for all consumers is crucial. This concern was the focal point of a session titled “Navigating the Solar Surge: Ensuring Equitable Energy Access in Pakistan’s Power Sector,” hosted by the Institute of Policy Studies (IPS), Islamabad. The session featured insights from IPS Chairman, Khalid Rahman, senior IPS associate, Ameena Sohail, Amreli Steels head of energy…

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Pakistan, China Committed To Expeditious Completion Of CPEC-2: Ishaq Dar

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Ishaq-Dar

Deputy Prime Minister And Foreign Minister Mohammad Ishaq Dar says Pakistan and China are committed to the expeditious completion of CPEC-2. Addressing China’s Development And Global Leadership Conference, Ishaq Qar said CPEC is a gift for Pakistan from China and the mega project has transformed Pakistan’s economy by enhancing infrastructure. He said Pakistan and China have stood with each other in times of peace and disaster and Pakistan aims to expand CPEC to incorporate AI, trade and eco-friendly energy. Dar said China will become super economic power soon after it…

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Aramco Launches First Branded Retail Station in Pakistan

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Branded Retail Station in Pakistan

October 29, 2024 Lahore, Pakistan – Aramco, the world’s leading integrated energy and chemicals company, has inaugurated its first fuel retail station in Pakistan. This milestone follows Aramco’s acquisition of a 40% stake in Gas & Oil Pakistan (GO), a major downstream sector player with over 1,200 nationwide fuel retail stations. Key Highlights Yasser M. Mufti, Aramco’s Executive Vice President of Products & Customers, emphasized: “This launch marks another milestone in Aramco’s downstream growth story, leveraging our global refinery systems for reliable supplies and introducing world-class retail offerings.” Khalid Riaz,…

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Households Face Major Gas Price Hike Amid Rising RLNG Costs

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Gas-Price

ISLAMABAD: Domestic gas consumers in Pakistan are set to face a significant financial impact as Sui Northern Gas Pipeline Limited (SNGPL) seeks an increase in gas prices by Rs64.16 per MMBTU for FY2024-25. In its recent petition to the Oil and Gas Regulatory Authority (OGRA), SNGPL requested a revised prescribed tariff of Rs1,711.73 per MMBTU, citing an estimated revenue shortfall of Rs20.58 billion, including Rs489 million allocated to the LPG Air Mix project. A substantial portion of this price hike—totaling Rs163.06 billion—comes from the cost of diverted imported RLNG, following…

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Saudi Arabia to Finalize $1.2 Billion Oil Facility for Pakistan by December

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Pak-Saudi

ISLAMABAD: Following confirmation to the IMF regarding an oil facility, Saudi Arabia is set to send a high-level delegation to Pakistan in December 2024 to finalize details for a $1.2 billion Saudi Oil Facility (SOF). This facility will support Pakistan’s bid for a $7 billion Extended Fund Facility (EFF) from the IMF, with Pakistan also requesting an additional $1 billion for climate finance. According to top officials, Pakistan may propose a one-year deferred payment plan, involving $100 million monthly disbursements, with repayments starting in the following calendar year. The SOF…

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