KARACHI: Mari Petroleum Company Limited (MPCL) has officially been renamed Mari Energies Limited (MEL), effective January 7, 2025. The Securities and Exchange Commission of Pakistan (SECP) has issued a Certificate of Incorporation confirming the change. This update was shared as material information with the Pakistan Stock Exchange on Wednesday.
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ISLAMABAD: The National Transmission and Despatch Company (NTDC) has proposed forming a working group to tackle its financial difficulties, with Rs 54.403 billion locked in receivables from various power sector entities. In a letter to the Secretary of Power, Dr. Fiaz Ahmad Chaudhry, NTDC Board Chairman highlighted that these long-standing “legacy balances” remain unresolved despite persistent follow-ups. The breakdown of the receivables includes Rs 24.972 billion due to alleged Energy Market Operator (EMO) violations, Rs 5.713 billion in transmission and transformation losses, Rs 4.577 billion for auxiliary consumption, and Rs…
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KARACHI: The National Electric Power Regulatory Authority (Nepra) has approved a relief of Rs 0.492 per kilowatt-hour (kWh) in K-Electric’s Fuel Charges Adjustment (FCA) for October 2024. This adjustment will be reflected in consumer bills for January 2025. Fuel charge adjustments account for variations in global fuel prices and changes in the energy generation mix. Utilities pass these costs to consumers after Nepra’s review and approval. When global fuel prices drop, customers benefit from negative adjustments in their bills. According to Nepra’s notification, the FCA relief will apply to all…
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Global crude oil prices continue to rise, with Brent crude reaching its highest levels in two and a half months. The price of Brent crude has surpassed $77 per barrel, while U.S. West Texas Intermediate (WTI) is trading at $74.68 per barrel. According to international media reports, Brent futures recently declined by 28 cents (0.37%), settling at $76.02 per barrel. Meanwhile, WTI dropped by 33 cents (0.45%) to record $73.23 per barrel. Despite these minor fluctuations, both benchmarks experienced five consecutive days of gains last week, climbing to their highest…
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ISLAMABAD: To bolster sustainable industrial growth, the government plans to revamp the electricity supply framework for Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC). The revised mechanism aims to ensure a reliable power supply, addressing longstanding challenges faced by SEZs. Under the proposal, SEZs will be allowed to sign Power Purchase Agreements (PPAs) with distribution companies (DISCOs) to meet their peak electricity demands for an initial five-year term, extendable upon mutual agreement. SEZs will remain within the service territory of the respective DISCOs, with the developers signing operation…
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