Month: March 2025

ECC Slashes Buyback Rate to Rs10/Unit, Amends Net-Metering Regulations

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Solar-Project-2

Pakistan’s Economic Coordination Committee (ECC) has approved amendments to the existing net-metering regulations, reducing the buyback tariff to Rs10 per unit. This decision aims to alleviate the growing financial burden on grid consumers, which has increased significantly due to the rising number of solar net-metering consumers ¹. The revised framework will not apply to existing net-metered consumers with valid licenses or agreements, ensuring their rights and obligations remain unchanged. The ECC also approved an update to the settlement mechanism, treating imported and exported units separately for billing purposes ¹. The…

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Pakistan Plans to Grow Economic and Tech with China

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china pakistan

Under CPEC Phase II, Pakistan Aims for Deeper Economic and Technological Partnerships with China BEIJING APP: According to Ambassador to China Khalil Hashmi, Pakistan is looking to expand its collaboration with China in important domains including Economic and Tech and innovation within the context of the second phase of the China-Pakistan Economic Corridor (CPEC). Ambassador Hashmi recently discussed the main points of China’s yearly “Two Sessions,” a significant political gathering where the Chinese government sets its goals and strategic course, in an interview with China Economic Net. He emphasized China’s…

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RLNG prices revised for March

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LNG

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has revised the prices of imported Re-gasified Liquefied Natural Gas (RLNG) for the month of March, making it more expensive for both gas companies – Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL). According to the notification issued by OGRA on Wednesday, the price of RLNG has been raised by 0.37 percent per MMBTU, setting the new rate at $12.94 per MMBTU for SNGPL consumers, which was $12.9025 per MMBTU in February 2025. The price of RLNG has…

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Oil dips as economic concerns, supply and demand expectations weigh

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oil price

LONDON: Oil prices slipped on Thursday after surging in the previous session on a larger-than-expected draw in U.S. gasoline stocks, as markets weighed macroeconomic concerns and demand versus supply expectations. Brent futures were down 37 cents, or 0.5%, at $70.58 a barrel at 10:25 a.m. EDT (1425 GMT), while U.S. West Texas Intermediate crude futures fell 39 cents, or 0.6%, to $67.29 a barrel. Both benchmarks rallied about 2% on Wednesday after U.S. government data showed tighter-than-expected oil and fuel inventories. U.S. gasoline inventories fell by 5.7 million barrels, more…

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IEA sees global oil market surplus for 2025 as demand disappoints

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Oil prices

LONDON: Global oil supply could exceed demand by around 600,000 barrels per day this year, the International Energy Agency said on Thursday, due to growth led by the United States and weaker than expected global demand. The outlook of ample supplies despite U.S. sanctions on major exporters Russia and Iran highlights the challenge for OPEC+, or the Organization of the Petroleum Exporting Countries plus Russia and other allies, in balancing the market. “The United States is currently producing at record highs and is forecast to be the largest source of…

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