Year: 2024

Petroleum Sales Surge by 5% in September Despite High Prices

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petrol-price

KARACHI: Pakistan’s overall oil sales saw a 5% increase in September, reaching 1.27 million tonnes, marking a 20% year-on-year (YoY) rise, according to Arif Habib Ltd (AHL). Petrol sales edged up by 2% month-on-month (MoM) to 0.63 million tonnes, reflecting a 22% YoY jump. High-speed diesel (HSD) sales also climbed 8% MoM to 0.49 million tonnes, surging by 25% YoY. Meanwhile, furnace oil (FO) sales increased by 5% MoM to 0.07 million tonnes but remained 18% lower YoY. For the first quarter of FY25, total oil sales dropped 3% YoY…

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Record Growth in Renewables Jobs Reaches 16.2 Million in 2023, Highlighting Need for Holistic Workforce Policies

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Renewable-Capacity

Record Growth in Renewables Jobs Reaches 16.2 Million in 2023, Highlighting Need for Holistic Workforce Policies October 2, 2024 Abu Dhabi, UAE/Geneva, Switzerland, 01 October 2024 – A new report from the International Renewable Energy Agency (IRENA) and the International Labour Organization (ILO) reveals a historic increase in renewable energy jobs in 2023, climbing from 13.7 million in 2022 to 16.2 million, an 18% rise. This surge reflects growing renewable capacities and expanding manufacturing in the sector. China led the job creation, hosting 46% of global renewable jobs, followed by…

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Leghari Warns Discos of Action Over Inefficiency

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Awais-Leghari

ISLAMABAD: Federal Minister for Power Awais Ahmad Khan Leghari has expressed serious concerns over the poor performance of power distribution companies (Discos) and announced plans for strict administrative actions against underperforming management. In a meeting with board chairpersons and CEOs of Discos, Leghari reviewed the companies’ line losses and bill collection performance for July and August 2024. The Power Division released a statement highlighting dissatisfaction with the management of certain Discos, signaling that administrative measures would follow. Leghari urged companies to adopt proactive strategies to reduce line losses and improve…

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Dar Urges Ogra to Plan $2 per mmBtu Cut in RLNG Tariff

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Pakistan-LNG

ISLAMABAD: Deputy Prime Minister Senator Ishaq Dar, leading the task force on gas-related issues, has directed authorities to initiate plans to reduce margins, taxes, duties, and port charges on imported LNG by 50%, aiming to make re-gasified LNG (RLNG) more affordable for consumers. Currently, the landed cost of LNG is $10 per mmBtu, but this rises to $14 per mmBtu once various additional costs are applied. Dar urged the Oil and Gas Regulatory Authority (Ogra) to work with the petroleum division to cut these charges from $4 to $2 per…

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Govt Power Plants to Receive Rs1,069bn in Capacity Payments in FY25

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Power-sector

ISLAMABAD: In FY25, power consumers will bear capacity payments amounting to Rs2,140 billion, with government power plants claiming the largest share of Rs1,069 billion, according to recent data. A significant portion of this will be allocated to nuclear power plants (Rs466 billion), hydropower projects (Rs446 billion), RLNG plants (Rs161 billion), and GENCOs (Rs16 billion). Meanwhile, power plants established under the China-Pakistan Economic Corridor (CPEC) will receive Rs707 billion. The 23 Independent Power Producers (IPPs) set up under the 1994 and 2002 power policies will get Rs165 billion collectively, with their…

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