Category: Highlights

Stalemate Persists in Talks with 18 IPPs as Dispute Over Figures Impedes Progress

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Power-IPP

ISLAMABAD: Despite the Task Force on Energy’s success in terminating or amending contracts with 13 Independent Power Producers (IPPs), negotiations with the remaining 18 IPPs from the 1994 and 2002 policies remain deadlocked, as both sides contest each other’s financial figures, sources revealed. The Task Force, chaired by Minister for Power Sardar Awais Khan Leghari and comprising key officials from NEPRA, CPPA-G, and PPIB, has been engaging with IPP representatives, yet disagreements over government-provided statistics have strained discussions. Some IPPs have objected to the shift from “take or pay” to…

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Israel declares emergency for next 48 hrs amid rising tensions with Lebanon

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israel

Israel has declared an emergency for the next 48 hours amid the country’s escalating tensions with Lebanon, according to The Times of Israel. Israel’s Defence Minister, Yoav Gallant, declared an emergency. This comes as a “special situation in the home front,” which enables the IDF Home Front Command to issue restrictions. In emergencies, the legal term “special situation” is used to give authorities more authority over the civilian population, simplifying attempts to protect them. It is valid for 48 hours, unless extended by cabinet ministers. As tensions continue to rise,…

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Oil gains over 2% after OPEC+ delays output hike, US election in focus

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Oil-gains

Oil prices rose more than 2% on Monday on a decision by OPEC+ to delay by a month plans to increase output, while the market braced for a crucial week that includes the U.S. presidential election. U.S. Democratic candidate Kamala Harris and Republican Donald Trump remain virtually tied in opinion polls ahead of Tuesday’s Election Day, and the winner might not be known for days after voting ends. Brent futures were up $1.73 per barrel, or 2.4%, to $74.83 a barrel at 1324 GMT. U.S. West Texas Intermediate (WTI) crude was…

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FPCCI Proposes Amendments in Petroleum Act 1934Atif Ikram Sheikh, President FPCCI

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FPCCI-Project

Karachi: Atif Ikram Sheikh, President FPCCI, has appreciated Senator Musadik Malik, Federal Petroleum Minister and the Director General of Explosives at Ministry of Petroleum for responding to the concerns of trade and industry vis-à-vis the definition, handling, storage and licensing requirements of liquid hydrocarbon, mixed hydrocarbons and any other material or mixture containing hydrocarbons. Atif Ikram Sheikh apprised that FPCCI had officially written to the DG Explosives after receiving multiple complaints and queries from the sector to seek clarification. While we acknowledge their reply; nevertheless, we, at FPCCI, feel that…

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Dr. Sultan Al Jaber Gathers Global Leaders to Forge AI-Energy-Climate Partnerships at ENACT Majlis

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Sultan-Al-Jaber

Abu Dhabi, UAE – His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and ADNOC Managing Director, hosted 80 global leaders in energy, technology, climate, and finance at the ENACT Majlis, a gathering aimed at advancing sustainable energy partnerships to support AI’s rapid growth. Rooted in the Emirati tradition of open dialogue, the Majlis provided a collaborative platform for discussing strategies at the intersection of AI, energy, and climate. H.E. Dr. Al Jaber emphasized the need for cross-sector collaboration to meet AI’s increasing power demands, with AI data…

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