Author: Admin

UK firm shows interest in buying Shell Pakistan

Admin
Shell-PLC

KARACHI: Shell Pakistan Ltd (SPL) said on Monday it has received a public announcement of intention from UK-based Prax Overseas Holdings Ltd to buy its 77.42 per cent shares, which are currently held by the oil firm’s foreign sponsor. The potential acquirer is a British investment firm with its entire shareholding resting with fuel supplier State Oil Ltd. The energy conglomerate owns companies in up-, mid- and downstream segments. Its brand name is Harvest Energy in the downstream segment, which is the part of the local value chain that SPL…

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After oil price cut, traders seek energy tariff reduction

Admin
power-sector

Ask govt to do away with gas outages, formulate sustainable policy KARACHI: While welcoming a significant reduction in petrol price, businesspeople have underlined the need for evolving a stable policy, slashing electricity and gas tariffs, and eliminating gas outages and painfully low pressure. “If the government formulates a sustainable policy for at least three months, this decrease will benefit the common people. I also plead for a reduction in power and gas tariffs immediately as the winter season is around the corner, when even middle-class people are unable to use…

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Two thermal plants hint at converting to Thar coal

Admin
Thar-coal

ISLAMABAD: The country’s two thermal power plants of 700-MW generation capacity have indicated interest in converting themselves to Thar coal, which will bring their generation tariff from Rs 46 to Rs 8 per unit, sources close Managing Director PPIB told Business Recorder. The company’s representatives held a meeting with the MD PPIB on September 25, 2023 wherein concept paper on the conversion of both complexes, i.e., Lalpir and Pakgen from RFO to Thar coal were discussed in detail for inclusion by both the plants in Indicative Generation Capacity Expansion Plan (IGCEP)…

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Funding for energy efficiency project: EAD asked to get firm World Bank commitment

Admin
power-tariff

ISLAMABAD: The Central Development Working Party (CDWP) has directed Economic Affairs Division (EAD) to get firm commitment of $150 million funding from the World Bank (WB) for energy efficiency and conservation project to be executed by National Energy Efficiency Conservation Authority (NEECA). At a recent meeting of CDWP, presided over by Deputy Chairman, Planning Commission, Chief Energy (Power), MoPD&SI appraised the forum that the sponsoring agency of the project has recently been changed from M/o Science and Technology to Ministry of Energy (Power Division). Initially, the proposal was discussed in…

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KE seeks more electricity from national grid

Admin
k-electric

ISLAMABAD: K-Electric (KE) has sought additional capacity of up to 300-MW from the national grid, increasing supply to 1400-MW, which according to the power utility company, will result in net savings of around Rs 50 billion annually, which will benefit consumers in the form of lower Fuel Charges Adjustments (FCAs) and the GoP in terms of Tariff Differential Subsidy (TDS) requirement, sources close to CEO KE told Business Recorder. This submission has been sent by CEO KE Syed Moonis Abdullah Alvi to Minister for Power and Petroleum, Muhammad Ali. According to…

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