Author: Admin

Mari Energies Begins Hydrocarbon Production from Khyber Pakhtunkhwa’s Shewa Discovery

Admin
New-Mari1

ISLAMABAD: Mari Energies Limited (formerly Mari Petroleum Company Limited) has commenced hydrocarbon production from the Shewa discovery in the *Waziristan Block, Khyber Pakhtunkhwa, under the *Extended Well Testing (EWT) phase. In a notice to the Pakistan Stock Exchange (PSX) on Tuesday, the company confirmed that gas and condensate production had begun following the completion of the gas transmission pipeline by SNGPL. Initial production rates stand at 26 MMSCFD of gas and *244 BBLs/D of condensate, with output expected to *increase gradually as processing and export systems stabilize. Mari Energies holds…

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Altern Energy Seeks Early Termination of PPA Amid Operational Losses

Admin
New-Project53

ISLAMABAD: Altern Energy Limited has formally requested the Central Power Purchasing Agency (CPPA) to *terminate its Power Purchase Agreement (PPA) early, citing *sustained operational losses due to lack of dispatch demand in recent years. In a statement to the *Pakistan Stock Exchange (PSX), the company’s *Board of Directors announced that it had also sought the termination of the Implementation Agreement (IA) signed with the *Government of Pakistan, as well as the *sovereign guarantee backing the contract. The board has referred the early termination proposal to the company’s shareholders for approval…

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Govt Limits Net Metering Contracts to 5 Years, Revises Buyback Rates

Admin
Net-Metering

ISLAMABAD: The government has *capped net metering contract terms at five years, with periodic **revisions to buyback rates, as per new policy guidelines issued to the *National Electric Power Regulatory Authority* (Nepra). Amid criticism over the *buyback rate cut from Rs 27 to Rs 10 per unit, the *Power Division has clarified the settlement mechanism: *imported and exported units will be billed separately, with exported units purchased at the **approved buyback rate, while imported units follow peak/off-peak tariffs. Consumers *cannot redeem or cash out credited excess units. Nepra has been…

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BYD Surpasses Tesla, Reports Record $100 Billion Revenue in 2024

Admin
Chinese-EV

BEIJING: Chinese electric vehicle (EV) giant BYD has overtaken *Tesla, posting a record *$107.2 billion in revenue** for 2024, as it accelerates its global expansion. The *Shenzhen-based automaker, a dominant force in **China’s EV market, is aggressively **expanding into Europe, unveiling a *new compact EV with super-fast charging to challenge established brands. This expansion comes as *Tesla faces headwinds in Europe, with declining sales amid *CEO Elon Musk’s political controversies. BYD’s 2024 revenue surged 29% year-on-year, exceeding *Bloomberg’s 766 billion yuan forecast, while **net profit hit a record 40.3 billion…

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Turkiye, Denmark Pledge Support for Pakistan’s Climate Fight

Admin
Climate-Change

ISLAMABAD: Federal Minister for Climate Change and Environmental Coordination, *Musadik Malik, held discussions with envoys from *Turkiye and Denmark on Monday to strengthen cooperation in climate resilience and carbon credit projects. Turkiye-Pakistan Climate Collaboration Ambassador of *Turkiye, Irfan Neziroglu, reaffirmed his country’s commitment to assisting **Pakistan in combating climate change, particularly through *carbon credit initiatives and *forestry management. Both sides agreed to explore *global and regional climate finance opportunities to attract sustainability investments. Minister Malik welcomed the initiative, emphasizing Pakistan’s urgent environmental challenges, including *deforestation, desertification, and water scarcity. The…

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