Author: Admin

Revised Deals with Bagasse-Based IPPs to Save Rs238 Billion

Admin
IPPs

ISLAMABAD: The federal cabinet has approved revised agreements with eight bagasse-based Independent Power Producers (IPPs), a move expected to save Rs238 billion over their operational lifespan. Under the new terms, the IPPs will reduce the working capital tariff component by 50% and adjust the return on equity (ROE) and return on equity during construction (ROEDC) to 17% annually, calculated at a rupee-dollar exchange rate of 168, with no future dollar indexation. These changes will take effect from October 31, 2024. To address energy shortfalls, the agreements stipulate that debt servicing…

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OGDCL Announces Production Commencement from Kunnar West Well-03 in Hyderabad, Sindh

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Sindh-ogdcl

ISLAMABAD, December 19, 2024: Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production company, on Thursday announced the commencement of production from its Kunnar West Well-3, located in the Hyderabad district of Sindh.The well, brought into production at a wellhead flowing pressure (WHFP) of 1200 PSI with a 32/64” choke size, is currently producing 3.5 million standard cubic feet per day (MMSCFD) of gas, 30 barrels per day (BPD) of condensate, and 3.8 metric tons per day (MTD) of liquefied petroleum gas (LPG). The gas output has…

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Energy and Economy Forum Highlights Key Energy Sector Challenges

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Energy-and-Economy

Energy and Economy Forum Highlights Key Energy Sector Challenges December 19, 2024 Islamabad, December 19, 2024 – The Energy and Economy Parliamentary Forum convenes its third meeting in the Parliament House, chaired by Dr Nafisa Shah, and co convened by Arbab Sher Ali and Shezra Mansab Ali and attended by Senator Sadia Abbasi and MNAs Mubeen Jutt, Danial Chaudhry, Dr Amjad Ali. The meeting reiterated that comprehensive and all encompassing energy reforms were the need of the hour and agreed to convene a parliamentary consultation to review the ongoing negotiations…

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ECC Approves Urea Subsidy, PRAL Restructuring, and Multiple Development Grants

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ECC-Approves

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Senator Muhammad Aurangzeb, approved key decisions on Wednesday, including a Rs10 billion allocation for urea subsidy dues and a restructuring plan for Pakistan Revenue Automation Limited (PRAL). The ECC endorsed a Commerce Ministry proposal for a 50:50 cost-sharing subsidy on imported urea and directed provinces to contribute their share. This measure aims to alleviate financial burdens and ensure urea availability for agricultural needs. Additional approvals included: Pakistan Skills Impact Bond (PSIB): A Rs1 billion government guarantee proposal…

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France Raises Concerns Over Challenges for Its Energy Firms in Pakistan

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France-Pak

ISLAMABAD: Following similar concerns voiced by Germany and the United Kingdom, France has expressed apprehensions regarding the difficulties faced by its energy companies operating in Pakistan. These concerns were highlighted by French President Emmanuel Macron during a recent bilateral meeting in Riyadh with Prime Minister Shehbaz Sharif. The Prime Minister assured Macron that these issues would be addressed, according to sources close to the Special Assistant to the Prime Minister (SAPM) on Power. Meanwhile, the Ministry of Foreign Affairs (MoFA) informed the SAPM on Power about a claim filed by…

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