Patrind AJK Hydro Power Project Secures Landmark Arbitration Victory

Karot-Hydropower

In a significant legal development, RIAA Barker Gillette, in collaboration with a leading English Law Firm, has achieved a decisive victory in arbitration proceedings against the Government of Pakistan (GOP) on behalf of Star Hydro Power Limited (SHPL). The final award, issued by the London Court of International Arbitration (LCIA), mandates the GOP to pay substantial amounts to SHPL within…

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Longi Solar and Netline Group Partner to Launch Green Hydrogen Technology in Pakistan

Longi-1

Longi Solar, a global leader in renewable energy technology, and Netline Group of Companies, a premier renewable energy solutions provider in Pakistan, have signed a groundbreaking Memorandum of Understanding (MOU) to introduce advanced green hydrogen technology in Pakistan. This strategic partnership, announced in Abu Dhabi on April 17, 2024, marks a significant step towards promoting sustainable energy solutions in the…

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Saudi Arabia Nears $1 Billion Investment Deal in Reko Diq Mining Project

Reko-Diq

Saudi Arabia is edging closer to finalizing a potential deal to acquire a minority stake in the Reko Diq gold and copper mining project, according to sources familiar with the matter, as reported by Bloomberg. Manara Minerals Investment Company, backed by the Saudi sovereign wealth fund, is in discussions to invest a substantial sum of at least $1 billion into…

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Government Acknowledges Systemic Overbilling by Power Distribution Companies

power-sector

In a significant admission, the government has acknowledged the recurring issue of overbilling by power distribution companies (Discos), highlighting a lack of awareness about the extent of faulty meters within the system. Power Minister Awais Ahmad Khan Leghari, in a recent news conference, pledged decisive action against complicit staff and officers while hinting at potential rate reviews for various consumer…

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Govt Accelerates Deregulation of Fuel Prices to Tackle Smuggling and Industry Challenges

OGRA

The Pakistani government has ramped up efforts to deregulate petroleum product prices in response to mounting challenges such as fuel smuggling and industry complaints. This move aims to shift public criticism towards oil marketing companies (OMCs) and address issues plaguing the oil sector. Under a directive from the petroleum division, the Oil and Gas Regulatory Authority (Ogra) has been tasked…

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Hydropower Takes Center Stage at IRENA General Assembly

Karot-Hydropower

During the recent IRENA General Assembly, member countries emphasized the critical role of sustainable hydropower in accelerating their energy transition efforts. The International Hydropower Association (IHA) played a pivotal role in this dialogue, offering a platform for showcasing good practices, sharing progress, and providing guidance and policy recommendations for enhancing sustainable hydropower. IHA’s CEO, Eddie Rich, and Head of Policy,…

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E&P Firms Warn of Production Suspensions

The Pakistan Petroleum Exploration and Production Companies Association (PPEPCA) has issued a warning, stating that the non-payment of dues by Sui gas companies has reached an alarming Rs1,500 billion as of March 15, 2024. This substantial debt, coupled with recent massive gas tariff increases, is hindering further exploration and production activities in the country. In a letter addressed to Petroleum…

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Khatm Al Shaklah Area in Al Ain Receives 254.8 mm of Rainfall in Less Than 24 Hours UAE Witnesses Highest Rainfall in 75 Years

Highest-Rainfall

According to a statement released by the National Center of Meteorology, the United Arab Emirates experienced the highest rainfall in its recent history over the past 24 hours, in many areas, marking the largest since the beginning of climate data recording in 1949. The National Center of Meteorology confirmed that the record-breaking rainfall amounts that fell on the country during…

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Surge in Nuclear and Coal Power Costs Challenges Pakistan’s Energy Sector

power-generation

Recent data from the Central Power Purchasing Agency (CPPA) reveals a substantial increase in the costs associated with nuclear and local coal power generation in Pakistan, presenting a significant challenge to the energy industry. Nuclear-based power generation has experienced a notable surge in expenses, with operational costs rising by over 17 percent in recent months. This increase has put financial…

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PM Establishes Committee to Review WACOG Mechanism for Gas Tariffs

Gas-Project

In a significant move, the government is set to introduce the Weighted Average Cost of Gas (WACOG) mechanism to determine gas tariffs, blending local natural gas with imported RLNG. This initiative aims to reduce gas tariffs for various sectors in Punjab, high-end domestic consumers, and RLNG-based power plants, according to senior officials of the Energy Ministry. Prime Minister Shehbaz Sharif…

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