Author: Admin

Important issues remain to be solved as Pakistan seeks potential follow-up programme: IMF chief

Admin
pak-imf

International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Thursday said that Pakistan is in discussions with the Fund on a potential follow-up programme to the previous nine-month $3 billion stand-by arrangement (SBA), adding that important issues remained to be solved. Georgieva told an event at the Atlantic Council think tank, that Pakistan was successfully completing its existing programme with the IMF and the economy was performing somewhat better, with reserves now being built up. “There is a commitment to continue on this path and the country is turning to…

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PEL wins legal battle against Canadian firm

Admin
Mari-Petroleum

ISLAMABAD: A Pakistani oil firm has won a legal battle against a Bermuda-based company at the International Court of Arbitration, which ruled that Pakistani laws govern the Petroleum Concession Agreements (PCAs) signed in the country. The Bermuda-based company Frontier Holdings Ltd (FHL) faced defeat in a prolonged legal dispute at the International Court of Arbitration against Petroleum Exploration (Pvt) Ltd (PEL). The over 80-page arbitration court ruling also marks a pivotal moment in Pakistan’s legal landscape, affirming the country’s legal sovereignty over arbitration agreements related to Petroleum Concession Agreements (PCAs)…

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Oil, gas firms await incentives for output boost

Admin
Russian-oil

Have potential to raise production from existing fields by embracing modern technology ISLAMABAD: Oil and gas exploration companies have called on the new government to formulate a policy that will offer incentives for optimising hydrocarbon production from the existing fields to ensure the country’s energy security. Sources told The Express Tribune that several oil and gas exploration companies had the potential to install advanced technology at their existing fields in an effort to boost production to overcome energy shortfall in Pakistan. These exploration companies are producing oil and gas under…

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CHINT Power signs deals with PV firms

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Chint-Power

Under contracts, Pakistani partners will distribute 200MW of inverters BEIJING: Chint Power recently signed cooperation agreements with two photovoltaic (PV) companies for the distribution of 200 megawatts of inverters. Chint Power introduced industrial and commercial PV, ground power plant PV and energy storage system solutions at SolarEX in Turkey and reached these cooperation deals. Chint Power is a solar power system solution provider that designs, manufactures, and supplies high-reliability PV inverters and power solutions for customers. It will work with the two Pakistani partners to explore the local PV market…

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Solar panel prices reach all-time lows, expected to decrease further

Admin
solar-panel

Market offers 7 to 15-kilowatt systems for as low as Rs 200,000 The decline in solar panel prices can be attributed to the increasing production by Chinese companies, which has flooded the global market. This oversupply has made it challenging for US and European manufacturers to compete, resulting in a significant drop in prices.According to the International Energy Agency, global solar panel supply is projected to reach 1,100 gigawatts by the year’s end, tripling the current demand. Prices on the spot market have already halved in 2023 and are anticipated…

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