Category: Latest News

**LESCO Reduces NEPRA-Related Losses by Rs58 Billion in Two Years**

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New-LESCO

  **LAHORE:** The Lahore Electric Supply Company (LESCO) has reduced its NEPRA-related financial gap from **Rs79 billion to around Rs21 billion** over the past two years, generating cumulative savings of more than **Rs58 billion** for the national exchequer. According to a statement issued by the Power Division on Friday, LESCO also achieved a **recovery rate of 101.05%**, surpassing the National Electric Power Regulatory Authority’s (NEPRA) regulatory benchmark of 100% for the first time in the company’s history. The utility further recorded a significant decline in distribution losses, bringing them down…

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PM Shehbaz orders audit of power firms’ billing systems

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power firms

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday ordered comprehensive technical audit of billing systems of power distribution companies (Discos) and stressed that power sector reforms remained among the government’s foremost priorities. Presiding over a review meeting on power division issues here, the prime mi­­nister said as performance of the distribution companies had improved considerably, but more efforts were still required. He termed the countrywide installation of smart meters indispensable for the sector’s turnaround, a Prime Minister’s Office news release said. The prime minister said strict measures should be enforced at…

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oil benchmark seen gaining as Middle East supply disruptions persist: Reuters poll

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oil price

July 31 (Reuters) – Oil prices are expected to rise further this year as shipping ​disruptions in the Strait of Hormuz and attacks in the Red Sea by Iran-backed Houthis threaten oil ‌flows and heighten supply risks, a Reuters poll showed. The July survey of 31 economists and analysts forecast that Brent crude would average $85.22 a barrel in 2026, up from June’s forecast of $84.50. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. U.S. crude is projected to average $80.14…

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Abu Dhabi abandons bid to build global oil benchmark

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oil price

Abu Dhabi is overhauling the way it sells its oil, retreating from an ambition to establish its own global crude benchmark to rival Brent after the Iran war exposed flaws in the fledgling market. Adnoc, the emirate’s national oil company, said on Friday that it would stop selling its flagship grade of crude, Murban, on an open market and would instead revert to a previous system of quotas whose price is linked to benchmarks assessed in Dubai. Five years ago, the capital of the United Arab Emirates shook up the…

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OGRA raises LPG prices for August as domestic cylinder becomes Rs152 costlier

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OGRA

OGRA increased August 2026 LPG prices, pushing the 11.8kg domestic cylinder up by Rs152.01 to Rs3,000.92. It also raised July RLNG tariffs for SNGPL and SSGCL. The Oil and Gas Regulatory Authority (OGRA) has increased liquefied petroleum gas (LPG) prices for August 2026, raising the cost of an 11.8kg domestic cylinder by Rs152.01 from August 1, while also notifying a sharp increase in Re-gasified Liquefied Natural Gas (RLNG) tariffs for July. Under the revised LPG pricing, the consumer rate has been fixed at Rs254,315.35 per tonne for August, compared with…

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