Day: January 27, 2026

SSGC Pledges Priority Gas Supply to Industry Amid Winter Shortfalls

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SSGC

KARACHI: Chairperson of Sui Southern Gas Company Limited (SSGC), Asif Inam, has reaffirmed the utility’s commitment to providing gas to the industrial sector on a priority basis alongside domestic consumers, underscoring that uninterrupted industrial activity is essential for Pakistan’s economic stability. Speaking to industrialists during a visit to the Korangi Association of Trade and Industry (KATI), he said several new members had recently joined the SSGC board, most of whom are key stakeholders with a strong grasp of the company’s operational challenges and possible solutions. He acknowledged that acute winter…

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MARI Earnings Fall 18% QoQ as Rising Costs Squeeze Margins

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Mari-Energies

KARACHI: Mari Energies Limited (MARI) posted an 18 per cent quarter-on-quarter decline in earnings for the second quarter of FY26, reporting a profit of Rs10.66 per share, as higher-than-anticipated operating and exploration costs weighed on margins. Despite the quarterly drop, the oil and gas exploration company recorded a 15 per cent year-on-year increase in earnings for the quarter. However, cumulative earnings for the first half of FY26 stood at Rs23.89 per share, marking a 6 per cent decline compared to the same period last year. Net sales during 2QFY26 reached…

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European Nations Reaffirm Wind Power Push with 100GW Offshore Pledge

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wind-power

HAMBURG/BERLIN/LONDON: Britain, Germany, Denmark and several other European nations have reinforced their commitment to clean energy by signing a pact to jointly develop 100 gigawatts (GW) of offshore wind power capacity, marking a major step toward strengthening Europe’s energy security. The agreement was signed at a summit in Hamburg and underscores Western and Northern Europe’s continued backing of wind energy, in sharp contrast to US President Donald Trump’s criticism of green energy policies. Speaking at the World Economic Forum in Davos last week, Trump reiterated his opposition to wind power,…

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Seasonal Factors Behind Circular Debt Increase, Says Power Division

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Power-Division

ISLAMABAD: The Ministry of Energy (Power Division) has attributed the rise in circular debt between July and November 2025 to seasonal factors that affect monthly debt flows, stressing that such increases are typically reversed by the end of the fiscal year. In a statement, a Power Division spokesperson said that circular debt flows eased in December 2025, bringing the net increase to less than Rs80 billion for the July–December 2025 period. “It is important to note that the circular debt flow declined in December 2025, resulting in a net debt…

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Govt Drops Plan to Terminate APL Deal, Explores Alternative Use of Strategic Pipeline

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gas-pipeline

ISLAMABAD: The government has shelved a proposal to unilaterally revoke the implementation agreement with Asia Petroleum Limited (APL), citing concerns over potential damage to foreign investor confidence, and has instead decided to pursue an alternative use of the strategic pipeline to facilitate a third entry point for white oil imports into the country. The Economic Coordination Committee (ECC) has approved the new approach and constituted a high-level committee to finalise the terms and conditions for the alternative use of the pipeline by January 31, 2026, viewing the move as a…

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