Category: Latest News

ISLAMABAD: Pakistan State Oil (PSO) is facing an intensifying liquidity crisis as mounting receivables from the gas and power sectors continue to strain its cash flow, raising concerns over the stability of the country’s fuel supply chain. According to independent industry data, Sui Northern Gas Pipelines Limited (SNGPL) remains the largest defaulter, with outstanding liabilities reaching Rs536 billion as of July 23, 2026. The amount includes Rs274 billion in principal dues and Rs253 billion in late payment surcharge (LPS). Industry sources said recoveries from SNGPL continue to fall short of…

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Innovation Driving the Energy Future Growatt successfully hosted its Pakistan Full-Scenario Energy Storage Launch Event at Nishat Hotel Johar Town, Lahore, bringing together government representatives, industry leaders, distributors, EPC companies, installers, and renewable energy professionals to witness the official launch of the SPM 3000–10000TL-HU2 Hybrid Inverter Series. Held under the theme “Innovation Driving the Energy Future,” the event reinforced Growatt’s long-term commitment to accelerating Pakistan’s clean energy transition through intelligent and reliable energy storage solutions. A New Era of Residential Energy Storage The newly launched SPM 3000–10000TL-HU2 series has been…

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ISLAMABAD: In a landmark breakthrough for Pakistan’s energy and mining sectors, Oil and Gas Development Company Limited (OGDCL) has confirmed the presence of high-grade lithium in geothermal formation water from Sindh, marking the country’s first significant discovery of lithium-bearing geothermal brines and positioning Pakistan among emerging players in the global critical minerals market. The discovery was made through advanced geochemical analysis of produced formation water extracted from a successfully tested high-temperature geothermal well under OGDCL’s pilot geothermal programme in Sindh. According to senior company officials, the recorded lithium concentrations are…

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SINGAPORE: Abu Dhabi National Oil Company (ADNOC) has issued its seventh crude oil tender since the beginning of June, offering cargoes for loading between August and October, despite escalating geopolitical tensions, shipping disruptions and security concerns in the Middle East, according to trade sources. Market participants said ADNOC has stipulated that any bids submitted below the official pricing differential will be automatically rejected, underscoring the producer’s confidence in continued strong demand for its crude despite heightened regional uncertainty. The tender closes on July 27, with bids expected to remain valid…

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ISLAMABAD: A performance audit of the Board of Directors (BoD) of Faisalabad Electric Supply Company (FESCO) has uncovered serious governance shortcomings, operational inefficiencies and financial mismanagement during FY2021-22 and FY2022-23, highlighting the utility’s failure to achieve key performance targets set by the Ministry of Energy (Power Division). The audit report concluded that FESCO’s weak governance, lack of strategic oversight and ineffective performance monitoring contributed to financial losses amounting to Rs16.968 billion over the two-year period, raising concerns about the company’s long-term financial sustainability. According to the findings, FESCO failed to…

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