Author: Admin

POL Announces Major Hydrocarbon Discovery in Khyber Pakhtunkhwa

Admin
POL-Project

ISLAMABAD: Pakistan Oilfields Limited (POL) has reported a significant hydrocarbon discovery at the Makori Deep-03 development well in the TAL Block, located in Karak district, Khyber Pakhtunkhwa. The announcement was made through a notice to the Pakistan Stock Exchange (PSX) on Thursday. According to POL, the discovery was confirmed by MOL, the operator of the TAL Block. POL holds a 25% pre-commerciality working interest in the block. Drilling of Makori Deep-03 commenced on December 12, 2024, and reached a total depth of 3,887 meters. Upon testing, the well yielded a…

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Govt Rejects Banks’ Demand for Higher EV Financing Rates

Admin
electric-vehicle2

ISLAMABAD: The government has rejected a proposal by commercial banks seeking an additional 5% interest on financing for electric two and three-wheelers, maintaining the current 11% rate. Banks argued the increase was necessary to cover insurance and operational costs. In response, the Steering Committee on the Electric Vehicle (EV) Policy, chaired by Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan, announced plans to engage banks in discussions to ensure fair financing terms. The federal government has earmarked Rs9 billion in subsidies in the current…

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Global Energy Access Improves, But Urgent Financial Support Needed to Bridge Gaps and Meet SDG 7 Targets

Admin
renewable-energy

**Washington, New York, Paris, Geneva, Abu Dhabi ** — The Tracking SDG 7: Energy Progress Report 2025 reveals that nearly 92% of the global population now has basic access to electricity, marking continued progress since 2022. However, over 666 million people still remain without access, underscoring the need to accelerate efforts to achieve universal energy access by 2030. Clean cooking access continues to lag. Around 2.1 billion people still rely on polluting fuels, such as firewood and charcoal, with rural areas most affected. While progress in clean cooking has resumed…

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Hubco, PSO Launch First NEV Fast-Charging Station on Lahore-Islamabad Motorway

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PSO-HUBCO

KARACHI: Hubco Green (Pvt) Limited (HGL), a subsidiary of The Hub Power Company Limited, in collaboration with Pakistan State Oil (PSO), has inaugurated its first new energy vehicle (NEV) fast-charging station on the Lahore-Islamabad Motorway (M-2), marking a significant step in the country’s electric mobility transition. Announced via press release on Wednesday, the state-of-the-art station is located at the Magic River Rest Stop and features PSO’s modern Experience Hub, which includes NEV charging facilities, a contemporary Vibe Cafe, and a retail store. The launch is part of Hubco Green’s strategic…

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Power Generation Rises 21% in May Amid Lower Tariffs and High Demand

Admin
Power-Tariff

KARACHI: Pakistan’s power generation surged by 21% in May 2025 compared to the previous month, fueled by reduced electricity tariffs, rising temperatures, and increased economic activity, according to data released by brokerage firm Topline Securities on Wednesday. Total electricity generation stood at 12,755 gigawatt-hours (GWh) in May, up from 10,513 GWh in April—marking the highest monthly output in the past nine months. “The government’s decision to cut electricity prices led to a significant uptick in demand,” said Topline CEO Mohammad Sohail. Year-on-year (YoY), power generation grew modestly by 1.0% compared…

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