Author: Admin

Saudi group eyes Pakistan airport privatization, further investments

Admin

KARACHI: Saudi Arabia’s Asyad Group is looking to expand its investments in Pakistan, including through the government’s upcoming airport privatization process, as its local energy subsidiary Wafi Energy Pakistan continues to grow its retail and storage network despite disruptions to global energy markets. The group, which acquired control of Shell Pakistan in 2024, is exploring new opportunities in the country’s privatization program as well as the financial sector, Asyad Group Chief Executive Officer Ghassan Ahmed Amodi told Finance Minister Muhammad Aurangzeb at a meeting on Thursday, according to the Finance…

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Wafi Energy Pakistan posts Rs641mn loss in Q2 as global energy disruptions hit

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Wafi Energy Pakistan Limited, formerly known as Shell Pakistan Limited, reported a loss after tax of Rs641 million in the second quarter ended June 30, 2026, compared with a profit after tax (PAT) of Rs422 million in the same period last year. Consequently, the OMC posted a loss per share of Rs3 during the quarter ended June 30, 2026, as compared to an earnings per share of Rs1.89. However, Wafi Energy posted a PAT of Rs1,523 million for the half year ended June 30, 2026, compared with Rs1,260 million in…

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Experts Urge Pakistan to Avoid Rigid LNG Contracts as Solar Capacity Surges

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ISLAMABAD, August 27, 2026: Parliamentarians and energy experts have urged the government to avoid long-term energy contracts that could expose Pakistan to costly take-or-pay obligations and further aggravate circular debt, calling instead for a more flexible approach to LNG and other fuel imports as solar power rapidly transforms the country’s energy landscape. Pakistan has deployed an estimated 50 GW of solar capacity across utility-scale, net-metered, agricultural, off-grid and behind-the-meter systems in recent years, largely without public subsidies. The installed capacity is estimated to generate around 54.75 TWh annually, equivalent on…

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Sindh’s Energy Contribution to National Grid Grows as Thar Coal Generates 3,240 MW: Sharjeel Memon

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KARACHI, August 27, 2026: Sindh Senior Minister and Provincial Minister for Information, Transport and Mass Transit Sharjeel Inam Memon has highlighted Sindh’s growing contribution to Pakistan’s energy security, stating that 3,240 MW of electricity generated through Thar Coal projects is being supplied across the country through the national grid. In a statement, Sharjeel Memon said Sindh was utilising its natural resources to support national development, with Thar Coal playing an important role in meeting the country’s electricity requirements. He added that several wind and solar power projects in the province…

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Wafi Energy Pakistan reports H1 2026 results, continues investing in supply infrastructure and energy security

Admin
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Islamabad, 27th August 2026 – The Board of Directors of Wafi Energy Pakistan Limited (Wafi Energy) today announced the company’s financial results for the half year ended June 30, 2026. The company reported a profit after tax of PKR 1,523 million for the half year, compared with PKR 1,260 million in the same period last year. The half-year result includes a loss after tax of PKR 641 million in the second quarter. Through a period of disruption in global energy markets and sustained volatility, the company maintained reliable supply to…

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