Author: Admin

Why Oil Companies Are Walking Back From Green Energy

Admin
crude oil

As leaders gather for a global climate summit, investors are rewarding oil giants like Exxon Mobil that did not embrace wind and solar. When oil and gas companies made ambitious commitments four years ago to curb emissions and transition to renewable energy, their businesses were in free fall. Demand for the fuels was drying up as the pandemic took hold. Prices plunged. And large Western oil companies were hemorrhaging money, with losses topping $100 billion, according to the energy consulting firm Wood Mackenzie. Renewable energy, it seemed to many companies…

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Mr. Saquib Fayyaz Magoon, SVP FPCCI, graced the inauguration of IDEAS 2024 at Expo Centre, Karachi.

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Saquib-Fayyaz

He met Khawaja Muhammad Asif, Chief Guest & Federal Minister for Defence and Mr. Jam Kamal Khan, Guest of Honor & Federal Minister of Commerce; Mr. Kamran Tessori, Governor Sindh; Dr. Farooq Sattar and Mrs. Nasreen Jalil, on the sidelines of the internationally and economically-significant exhibition. Lt. Gen. Muhammad Chiragh Haider, HI (M), Secretary (DP) and Brig Iftikhar Opel, SI (M), Retd., Secretary General, FPCCI, were also present on the occasion. SVP FPCCI expressed his satisfaction that Maj. Gen. Asad Nawaz Khan, HI (M), Director General, Defence Export Promotion Organization…

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Pakistan to Slash EV Charging Costs to Boost Electric Vehicle Adoption

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Electric-Vehicle

ISLAMABAD: Pakistan plans to significantly lower electricity tariffs for electric vehicle (EV) charging stations as part of its strategy to decarbonize the transport sector and stimulate EV demand, according to Power Minister Awais Leghari. The government is formulating a pricing structure to make EV charging more affordable for small cars, two-wheelers, and three-wheelers. This initiative aligns with the broader goal of reducing emissions and promoting sustainable transportation. Over six auto manufacturers, predominantly Chinese brands, have introduced EV models in Pakistan this year. Notably, Chinese EV giant BYD, through its local…

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SNGPL Holds CPPA-G Accountable for Rs. 148 Billion in Outstanding Receivables

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SNGPL-Office

ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) has attributed the accumulation of Rs. 148 billion in outstanding receivables to delays in payments by the Central Power Purchasing Agency–Guaranteed (CPPA-G). The amount includes dues from Independent Power Producers (IPPs), government-owned plants, and WAPDA, highlighting a severe financial strain on SNGPL’s operations. According to SNGPL, receivables from Guddu Power Plant alone amount to Rs. 30.344 billion, with Rs. 10.513 billion being undisputed. Nandipur Power Plant owes Rs. 18.405 billion, including Rs. 9.449 billion as undisputed charges. Other government power plants, such as…

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Petroleum Division Proposes Third-Party Gas Sales Framework

Admin
Oil-Price

ISLAMABAD: The Petroleum Division has prepared a framework for the sale of up to 100 MMCFD gas by Exploration and Production (E&P) companies to third parties through open auctions. The summary, finalized following an inter-ministerial committee decision led by Deputy Prime Minister Ishaq Dar, will be submitted to the Executive Committee of the National Economic Council (ECNEC) for approval. Initially approved by the Council of Common Interests (CCI) during the caretaker government of Anwar-ul-Haq Kakar, the framework permits E&P companies to sell up to 35% of their gas to third-party…

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