Month: April 2025

Pakistan Diverts Fifth Long-Term LNG Cargo Amid Low Domestic Demand

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LNG

ISLAMABAD: Pakistan has diverted its fifth long-term LNG cargo—originally scheduled for June 2025—to the international market, a senior official from the Petroleum Division confirmed. This follows the earlier diversion of four LNG cargoes due in February, March, April, and May, all part of a 15-year supply agreement with Italian energy firm ENI. Under the contract, Pakistan LNG Limited (PLL) is entitled to receive one cargo per month at a price linked to 12.14% of Brent crude. The diversions are based on a request made by Sui Northern Gas Pipelines Limited…

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NTDC-KE Interconnection Project to Play Vital Role in Providing Affordable Power to Karachi: Sindh Energy Minister

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New-Project66

KARACHI: Sindh Energy Minister Syed Nasir Hussain Shah has said that the interconnection project between K-Electric (KE) and the National Transmission and Despatch Company (NTDC) will play a key role in ensuring the supply of affordable electricity to consumers in Karachi. He made these remarks while chairing a high-level review meeting on the project. The session was attended by KE CEO Moonis Alvi, NEPRA Member (Technical) Rafiq Shaikh, NTDC Managing Director Muhammad Waseem, and other key officials. During the meeting, the KE CEO and NEPRA representative briefed the minister on…

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FESCO Apologises to PAC Over Controversial Meter Removal from Member’s Residence

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Power-sector

ISLAMABAD: The Public Accounts Committee (PAC) convened a closed-door meeting on Tuesday, chaired by MNA Junaid Akbar Khan, to address the contentious removal of electricity meters from the residence of PAC member Sanaullah Khan Mastikhel. The incident, carried out by officials of Faisalabad Electric Supply Company (FESCO), had previously disrupted committee proceedings in protest. During the session, the Power Secretary confirmed that FESCO had formally apologised to both the committee and Mr Mastikhel. “The necessary briefing has been given; the decision now rests with the committee,” he stated before exiting…

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LONGi Solar Europe Powers LATAM Energy Shift with Key Utility-Scale Alliance

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New-Longi2

European Expertise Powers Multi-Continental Solar Deployment, Reinforcing BC Technology Leadership Madrid, April 23rd, 2025 – LONGi Solar, the global leader in solar innovation, has finalized a transformative agreement to supply over 100MW of Hi-MO 9 modules for a utility-scale solar initiative spanning LATAM continent. Spearheaded by LONGi’s European team, this collaboration underscores the company’s capacity to deliver cutting-edge back contact (BC) solutions for high-impact projects in diverse geographies, further cementing Europe’s role as a hub for global renewable energy leadership. Project Overview: Bridging Continents with BC InnovationThe initiative, developed in…

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Oil prices stage recovery on new Iran sanctions, equities rallyoil

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Oil prices

NEW YORK: Oil prices rose more than $1 per barrel on Tuesday as new U.S. sanctions against Iran and rising equity markets helped spark a recovery rally from the prior session’s steep selloff. Brent crude futures rose $1.74, or 2.6%, to $68 per barrel by 12:16 p.m. ET (1616 GMT). The U.S. West Texas Intermediate crude contract for May, which expires on Tuesday, was up $1.96, or 3.1%, to $65.04. The more actively traded WTI June contract gained $1.92, or 3.1%, to $64.33. The United States on Tuesday issued fresh…

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