Author: Admin

Pakistan Secures $1.2 Billion Saudi Oil Facility as Inflation Hits Nine-Year Low at 2.4%

Admin
Saudi-Oil

Islamabad: In a significant development aimed at stabilizing Pakistan’s economy and ensuring a steady supply of petroleum products, the Kingdom of Saudi Arabia (KSA) has signed a Memorandum of Understanding (MoU) with Pakistan for a $1.2 billion Saudi Oil Facility (SOF) for one year. Under the agreement, Saudi Arabia will provide Pakistan with deferred oil payments at a 6% markup, with the facility expected to become operational in March 2025. This arrangement will help Islamabad meet its external financing obligations under the International Monetary Fund’s (IMF) $7 billion Extended Fund…

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Tariq Electric Hosts Grand Event Showcasing ABB’s Latest Innovations

Admin
New-Project41

Lahore: Tariq Electric (Pvt) Ltd, a licensed panel builder and official channel partner of ABB, hosted a prestigious event in Lahore, unveiling ABB’s latest product line and cutting-edge electrical solutions. The gathering brought together senior industry professionals, renowned consultants, and key stakeholders from the energy and electrical sectors. A keynote address by Mr. Sean Barnicle from ABB Italy was the highlight of the event, offering in-depth insights into ABB’s state-of-the-art innovations. His presentation focused on groundbreaking technologies such as VD4 Digital (VCB), SENPLUS (Type Tested LV Switchgear), and SF6 /…

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Nepra Holds Public Hearing on 220MW Hybrid Project Today SITE Neutral Project Receives Record-Low Tariff Bid of 3.09 Cents/kWh

Admin
circular-debt-K-electric-ceo

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) is set to hold a public hearing today on the approval of the 220-megawatt SITE Neutral Hybrid Project, a pioneering initiative in Pakistan’s renewable energy sector. K-Electric (KE) will present its stance on the project, which has secured the lowest tariff bid of 3.09 cents per kilowatt-hour (kWh) from Canadian firm JCM Power. KE received the bid in August 2024, followed by the submission of a bid evaluation report to Nepra in September. With bid bond validity nearing expiration, swift regulatory approval…

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Ghani Chemical secures gas supply deal with Mari Energies & OGDCL

Admin
Oil prices

Oil prices rose on Monday after U.S. President Donald Trump imposed tariffs on Canada, Mexico and China, raising fears of supply disruption, though gains were capped by concern over what could be an economically damaging trade war. Brent crude futures rose $1.28, or 1.7%, to $76.95 a barrel by 1232 GMT after touching a high of $77.34. U.S. West Texas Intermediate crude futures were up $1.89, or 2.6%, at $74.42 after touching their highest since Jan. 24 at $75.18. Trump’s sweeping tariffs on goods from Mexico, Canada and China kicked…

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Ghani Chemical secures gas supply deal with Mari Energies & OGDCL

Admin
OGDCL

Ghani Chemical Industries Limited (GCIL), a manufacturer of medical and industrial gases and chemicals, has entered into a Gas Sales & Purchase Agreement (GSPA) with Pakistani E&Ps i.e. Mari Energies Limited and Oil and Gas Development Company Limited (OGDCL), for the supply of natural gas. The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. “Ghani Chemical Industries Limited (GCIL), Mari Energies Limited (formerly Mari Petroleum Company Limited) and OGDC have entered into a GSPA for supply of 3 mmscfd natural gas during…

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