Category: Latest News

POL Announces Major Hydrocarbon Discovery in Khyber Pakhtunkhwa

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POL-Project

ISLAMABAD: Pakistan Oilfields Limited (POL) has reported a significant hydrocarbon discovery at the Makori Deep-03 development well in the TAL Block, located in Karak district, Khyber Pakhtunkhwa. The announcement was made through a notice to the Pakistan Stock Exchange (PSX) on Thursday. According to POL, the discovery was confirmed by MOL, the operator of the TAL Block. POL holds a 25% pre-commerciality working interest in the block. Drilling of Makori Deep-03 commenced on December 12, 2024, and reached a total depth of 3,887 meters. Upon testing, the well yielded a…

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Global Energy Access Improves, But Urgent Financial Support Needed to Bridge Gaps and Meet SDG 7 Targets

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renewable-energy

**Washington, New York, Paris, Geneva, Abu Dhabi ** — The Tracking SDG 7: Energy Progress Report 2025 reveals that nearly 92% of the global population now has basic access to electricity, marking continued progress since 2022. However, over 666 million people still remain without access, underscoring the need to accelerate efforts to achieve universal energy access by 2030. Clean cooking access continues to lag. Around 2.1 billion people still rely on polluting fuels, such as firewood and charcoal, with rural areas most affected. While progress in clean cooking has resumed…

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Oil Prices Plunge 6% Amid Israel-Iran Ceasefire Hopes

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oil-Price

NEW YORK: Oil prices tumbled 6% on Tuesday, hitting two-week lows as hopes for a sustained ceasefire between Israel and Iran eased concerns over potential supply disruptions in the Middle East. Brent crude futures dropped \$4.34, or 6.1%, to close at \$67.14 per barrel—its lowest since June 10. Meanwhile, US West Texas Intermediate (WTI) crude slipped \$4.14, or 6.0%, settling at \$64.37 per barrel, marking its weakest level since June 5. The market reacted to news of the ceasefire, despite US President Donald Trump warning that both Israel and Iran…

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NEPRA Mulls 10-Paisa Per Unit Power Tariff Increase for May 2025

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New-NEPRA

ISLAMABAD: Electricity consumers across Pakistan—excluding K-Electric (KE) and lifeline users—may see a 10-paisa per unit hike in power tariffs under the Fuel Charges Adjustment (FCA) for May 2025. The National Electric Power Regulatory Authority (NEPRA) will hold a public hearing on June 30, 2025, at NEPRA Tower, Islamabad, to review the proposed Rs0.1015/kWh increase. The session will also be accessible via Zoom for wider public participation. The Central Power Purchasing Agency Guarantee Limited (CPPA-G), on behalf of Ex-WAPDA Distribution Companies (XWDISCOs), submitted the proposal, citing a fuel cost of Rs7.4940/kWh…

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NEPRA Serves Show-Cause Notice to K-Electric Over Unfair Load-Shedding Practices

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Nepra-Price

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has issued a show-cause notice to K-Electric (KE) for failing to comply with its directives on forced load-shedding, accusing the utility of violating the NEPRA Act and the Performance Standards (Distribution) Rules, 2005. NEPRA stated that KE has been carrying out load-shedding based on Aggregate Technical and Commercial (AT\&C) losses, resulting in entire feeders being shut down—even where some consumers are fully compliant and pay their bills on time. “This practice is unjust to law-abiding consumers,” the authority noted. According to regulations,…

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