Category: Highlights

Longi Solar and Netline Group Partner to Launch Green Hydrogen Technology in Pakistan

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Longi Solar, a global leader in renewable energy technology, and Netline Group of Companies, a premier renewable energy solutions provider in Pakistan, have signed a groundbreaking Memorandum of Understanding (MOU) to introduce advanced green hydrogen technology in Pakistan. This strategic partnership, announced in Abu Dhabi on April 17, 2024, marks a significant step towards promoting sustainable energy solutions in the country. Green hydrogen technology, which produces hydrogen fuel through water electrolysis using electricity from renewable sources like wind, solar, and hydro, offers a pollution-free alternative to conventional methods reliant on…

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Saudi Arabia Nears $1 Billion Investment Deal in Reko Diq Mining Project

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Reko-Diq

Saudi Arabia is edging closer to finalizing a potential deal to acquire a minority stake in the Reko Diq gold and copper mining project, according to sources familiar with the matter, as reported by Bloomberg. Manara Minerals Investment Company, backed by the Saudi sovereign wealth fund, is in discussions to invest a substantial sum of at least $1 billion into the Reko Diq project, currently under the control of Canadian mining giant Barrick Gold Corporation. Reports suggest that Manara Minerals Investment Company could announce a preliminary agreement on transaction terms…

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E&P Firms Warn of Production Suspensions

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The Pakistan Petroleum Exploration and Production Companies Association (PPEPCA) has issued a warning, stating that the non-payment of dues by Sui gas companies has reached an alarming Rs1,500 billion as of March 15, 2024. This substantial debt, coupled with recent massive gas tariff increases, is hindering further exploration and production activities in the country. In a letter addressed to Petroleum Minister Dr Musadik Malik on April 17, 2024, the PPEPCA highlighted the liquidity crisis faced by Exploration and Production (E&P) firms. Despite significant hikes in gas tariffs, Sui gas companies…

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Khatm Al Shaklah Area in Al Ain Receives 254.8 mm of Rainfall in Less Than 24 Hours UAE Witnesses Highest Rainfall in 75 Years

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Highest-Rainfall

According to a statement released by the National Center of Meteorology, the United Arab Emirates experienced the highest rainfall in its recent history over the past 24 hours, in many areas, marking the largest since the beginning of climate data recording in 1949. The National Center of Meteorology confirmed that the record-breaking rainfall amounts that fell on the country during the past 24 hours until 9:00 PM on Tuesday, April 16, 2024, constitute an exceptional event in the climatic history of the UAE since the beginning of climate data recording.…

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Mari Petroleum Successfully Drills and Tests Appraisal Well in Mari Ghazij Formation

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Mari Petroleum Company Limited (MARI), a prominent energy and exploration company in Pakistan, has achieved another milestone by successfully drilling and testing an appraisal well in the Mari Ghazij formation located in Mari Development and Production Lease (D&PL), Sindh. In a notice to the Pakistan Stock Exchange (PSX) on Thursday, MARI announced the successful drilling and testing of the third appraisal well in the Ghazij formation within the Mari D&PL. The well, spudded in on February 15, 2024, reached a depth of 1,483 meters. It recorded a post-acid gas flow…

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