Category: Highlights

The government has completed the first payment transaction of 40 per cent to 20 Independent Power Producers (IPPs) amounting to Rs89.2 billion equally divided in cash 5 years’ Sukuk and 10 years’ PIBs. “In compliance with the directives of the Prime Minister and under guidance of the Finance Minister, the government has completed the first payment transaction of 40 per cent to 20 IPPs amounting to Rs. 89.2 billion equally divided in cash 5 years’ Sukuk and 10 years’ PIBs,” Ministry of Finance stated on Friday. Finance Division has completed…

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Policymakers are under immense pressure to deliver on promises made as part of the Paris Agreement, a landmark accord widely recognized as critically important to avoid the most devastating impact of climate change. Almost 200 countries, including Russia and Saudi Arabia, ratified the Paris climate accord in 2015, agreeing to pursue efforts to limit the planet’s temperature increase to 1.5 degrees Celsius above pre-industrial levels. The agreement requires net-zero greenhouse gas emissions by 2050. Remarkably, the IEA — the world’s leading energy advisor — delivered its starkest warning yet on…

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Turkey has discovered further deposits of natural gas in the Black Sea, according to people familiar with the matter, and is likely to make an announcement soon. Initial data from the offshore Amasra-1 well show a significant amount of newly discovered gas, the people said, asking not to be identified while discussing confidential information. Turkish explorers last year found 405 billion cubic meters of gas at the nearby Tuna-1 well, the biggest ever discovery in the Black Sea, and said at the time production could begin by 2023. No independent…

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The Oil & Gas Regulatory Authority (Ogra) has awarded a ‘gas-marketing licence’ to Shell Energy Pakistan (Pvt) Limited. Shell Energy Pakistan (Pvt) Limited has been incorporated with the aim of carrying out downstream gas marketing activities in Pakistan. It aims to aggregate demand from customers and secure competitive international supply to meet such demand. After evaluating its credentials, Ogra has granted rights to Shell Energy Pakistan to market gas to interested customers. Third-party access to gas import and distribution infrastructure is necessary for creating a competitive and developed gas market. …

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Pakistan has initiated work on a number of green financing instruments, buoyed by widespread global investor interest in the country’s first green bond floated in the international market last week. The development follows the growing concern in Pakistan that it’s one of the most vulnerable countries in the world to climate change, and has been hit hard by extreme weather events including devastating floods. Prime Minister Imran Khan on Thursday said 10 most vulnerable countries in the world, including Pakistan, were at high risk of climate change due to green…

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