Author: Admin

Government Suspends CEOs of Three Gencos Over Asset Disposal Delays

Admin
Power genration

ISLAMABAD: The government has suspended the Chief Executive Officers (CEOs) of three Generation Companies (Gencos) following Prime Minister Shehbaz Sharif’s dissatisfaction with delays in disposing of dead assets. The suspended CEOs are: Abdul Vakeel, CEO of JPCL (Genco-I)Junaid Ahmed Baig, CEO of Genco-IISabeeh Uz Zaman Faruqi, CEO of Genco-IIIDuring a high-level meeting on the Indicative Generation Capacity Expansion Plan (IGCEP), the Prime Minister directed Power Minister Awais Khan Leghari to suspend officials obstructing the disposal of redundant Genco assets and delaying human resource absorption or retirement processes. The Prime Minister…

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Pakistan and Iran to Negotiate Extension of Power Sale Agreement

Admin
Pak-iran-1

ISLAMABAD: Pakistan and Iran are gearing up for negotiations to extend their electricity sale agreement, set to expire on December 31, 2024. Sources indicate that both sides aim to finalize the renewal to ensure continued power supply to Pakistan’s Balochistan province. Pakistan currently imports 100 MW of electricity from Iran, primarily for bordering areas of Balochistan, with payments managed through informal channels or barter trade agreements. The annual import stands at approximately 18 million units, priced at over Rs. 27 per unit—significantly higher than electricity generated from imported coal or…

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Poland Set to Double Investments in Pakistan: Ambassador

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Poland-Pakistan

ISLAMABAD: Poland’s Ambassador, Maciej Pisarski, announced that the Polish Oil and Gas Company (POGC) plans to double its investments in Pakistan in the coming years, building on its current $450 million commitment. Speaking to the media, Ambassador Pisarski emphasized POGC’s long-standing presence in Pakistan. Operating through its Pakistan branch since 1997, the company has been actively exploring and producing gas, particularly in the Kirthar concession since 2005. It has made three significant tight gas discoveries—Rehman, Rizq, and Rayyan fields—pioneering unconventional gas extraction in the country. The ambassador revealed that POGC…

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OIL AND GAS REGULATORY AUTHORITY

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Oil-and-Gas

Plot No. 37 & 39, Mauve Area, Service Road South, Sector G-10/4 Islamabad Reference No. OGRA-Fin-28-11(08)/2024 Islamabad the, December 20, 2024Subject:OFFICE MEMORANDUMSRO NOTIFICATION FOR PUBLICATION IN THE GAZETTE OFPAKISTAN (EXTRA ORDINARY).Please find enclosed herewith notification No. OGRA-Fin-28-11(08)/2024 dated December 20, 2024 in respect of RLNG weighted average saleprice with effect from December 01, 2024. Islamabad the, December 20, 2024NOTIFICATIONS.R.O. (I)/2024. In exercise of the powers conferred under Section 43B of Oil and GasRegulatory Authority Ordinance, 2002 (XVII of 2002) and Ministry of Energy (PetroleumDivision) letter No. DGO(AC)-5(26)/2023-24 dated 7h November,…

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WAPDA Slashes Floating Solar Project Cost to 2.98 Cents per Unit Over 30 Years

Admin
solar-panels

ISLAMABAD: In a decisive move, the Water and Power Development Authority (WAPDA) has lowered the cost of its proposed 300 MW floating solar project to 2.98 cents per unit for 30 years, aligning the initiative with Pakistan’s Indicative Generation Capacity Expansion Plan (IGCEP) for 2024-34. Initially facing uncertainty due to its high costs and potential conflict with IGCEP’s least-cost generation principle, the project has undergone significant revisions. The National Electric Power Regulatory Authority (NEPRA) reviewed WAPDA’s proposal and emphasized adherence to laws prioritizing cost-effective energy solutions. Prime Minister Shehbaz Sharif…

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