Author: Admin

Surge in Fuel Outlets Despite Smuggling Concerns

Admin
fuel-oil

KARACHI: Despite the increasing influx of smuggled Iranian oil, oil marketing companies (OMCs) in Pakistan are expanding their retail networks. Pakistan State Oil (PSO) has added 37 new retail outlets in the first nine months of FY24, bringing its total to 3,555. However, PSO’s 9MFY24 report did not address the issue of fuel smuggling, which has impacted diesel and other fuel sales according to other refiners and OMCs. Attock Petroleum Ltd (APL) has strategically invested in key locations, commissioning new service areas on motorways M-4 and M-14. APL’s flagship outlet…

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Global gas market to grow 50% amid energy transformation

Admin

As those trends ripple through the industry, growth in oil investment shows signs of peaking in non-OPEC countries, while investment in liquified natural gas (LNG) is expected to increase more than 50% by 2029, according to Goldman Sachs Research. The industry had 73 major projects under development worldwide last year, 30% more than at the beginning of the decade but still 32% below the level in 2014, according to Top Projects, GS Research’s 21st annual analysis of the energy sector. Underscoring this shift, Goldman Sachs Research projects the global gas market will grow 50% during the next five years.

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Solar users face new charges under proposed net metering reforms

Admin
solar-energy

In a significant move to amend the existing net metering rules, Pakistan’s Power Division has begun working on changes aimed at balancing the benefits for solar energy users with the financial burden on other electricity consumers. The proposed amendments, which are set to be submitted to the National Electric Power Regulatory Authority (NEPRA) in July, include sending net metering power to the national pool and introducing capacity charges for net metering users. One of the major changes under consideration is a 50% reduction in the net metering buyback rate. This…

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Federal Government to Formulate High-Level Committee for AJK Power and Water Charges Resolution ISLAMABAD:

Admin
New-AJK

The federal government is likely to establish a high-level committee to find a political solution for the electricity rates, water usage charges (WUC), and control of grid stations in Azad Jammu & Kashmir (AJK). This decision comes after public sector stakeholders failed to reach an amicable solution, informed sources told Business Recorder. A meeting was held on May 22, 2024, in the Ministry of Kashmir Affairs & Gilgit-Baltistan (KA&GB), led by the Secretary of the KA&GB Division. Attendees included the Secretary of the Water Resources Division, the Secretary of the…

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Nepra Approves Rs46.6 Billion Additional Financial Burden on Consumers ISLAMABAD:

Admin
NEPRA

The National Electric Power Regulatory Authority (Nepra) has approved an additional financial burden of Rs46.613 billion on consumers of distribution companies (Discos) and K-Electric (KE) under the Quarterly Tariff Adjustment (QTA) for the third quarter (January-March) of the current fiscal year. Of the total approved adjustment, Rs28.515 billion is attributed to capacity charges. An additional Rs10.284 billion will be recovered due to the lower Fuel Cost Adjustment (FCA) impact of Transmission and Distribution (T&D) losses, Rs5.309 billion for Operations and Maintenance (O&M), and Rs2.541 billion for Use of System Charges.…

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