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Category: Highlights

Payments issue with CPPA-G: Shanghai Electric lodges complaint with PM

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Shanghai-Electric

ISLAMABAD: Chinese power firm Shanghai Electric has reportedly lodged a complaint against Central Power Purchasing Agency-Guaranteed (CPPA-G) to the Prime Minister for not making payments on time, well-informed sources told Business Recorder. Sharing the details, sources said M/s Thar Coal Block-1 Power Generation Company Pvt Ltd has informed Special Investment Facilitation Council (SIFC) that the company has achieved Commercial Operation Date…

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

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Longi-1

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…

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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…

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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…

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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…

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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…

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PM Encourages Chinese Firms to Embrace Local Coal and Prioritizes Workers’ Safety

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Chinese-Firms

Islamabad: During a meeting with a delegation from the Shanghai Electric Group, Prime Minister Shehbaz Sharif reiterated the government’s commitment to ensuring the safety of Chinese workers in Pakistan. Led by Chairman Wu Lei, the delegation discussed ongoing projects and potential investments in the country. PM Shehbaz assured the delegation of full support to facilitate Chinese investors, particularly in transitioning…

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Climate Experts Dismiss Cloud Seeding as Cause of Powerful Gulf Storm

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Powerful-Gulf

A recent storm wreaked havoc in the United Arab Emirates and Oman, causing significant flooding and claiming several lives. Despite questions raised about cloud seeding possibly triggering the heavy rains, experts assert that global warming and natural weather patterns were the primary drivers behind the intense rainfall. The storm, which hit Oman initially before impacting the UAE, led to record…

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World Future Energy Summit Opens with Collective Call for Collaboration on ‘Pathway to 1.5°C’

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World-Future

• Her Highness Sheikh Shamma bint Sultan bin Khalifa Al Nahyan, president and CEO of the UAE’s Independent Climate Change Accelerators, warns “action cannot take place if we work in silos”• IRENA’s latest capacity data shows the world is falling short of 1,100GW annual renewable power requirement, despite 2023 marking the largest surge of renewable power generation to date Abu…

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World Future Energy Summit 2024 Opens Today in Abu Dhabi, Focused on Advancing COP28’s Change Agenda

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Energy-Summit

The World Future Energy Summit 2024 is set to open today in Abu Dhabi, marking a significant gathering of the global energy industry. Hosted by Masdar at the Abu Dhabi National Exhibition Centre (ADNEC), this event is poised to play a pivotal role in advancing the change agenda outlined at COP28 in Dubai last November. The summit boasts an impressive…

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