Category: News & Announcement

Pakistan’s premier oil refining company, Byco Petroleum Pakistan Limited (BPPL) has informed that it has resumed production. In late march, the Ministry of Energy had issued an order to stop all import of petroleum products to all oil marketing companies to ensure that domestic refineries products are fully consumed. Fayaz Ahmad Khan, Vice President of Commercial at BPPL said: “Due to improved POL demand across the country, Byco has resumed production at its oil refinery.” Khan praised the Ministry of Energy in its efforts to support the domestic refining industry:…

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The Asian Development Bank (ADB) today tripled the size of its response to the novel coronavirus disease (COVID-19) pandemic to $20 billion and approved measures to streamline its operations for quicker and more flexible delivery of assistance. The package expands ADB’s $6.5 billion initial response announced on 18 March, adding $13.5 billion in resources to help ADB’s developing member countries counter the severe macroeconomic and health impacts caused by COVID-19. The $20 billion package includes about $2.5 billion in concessional and grant resources. “This pandemic threatens to severely set back economic, social,…

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One of India’s leading renewable energy companies, Adani Green Energy, has reported an impressive 30% increase in installed capacity between April 2019 and March 2020. In a statement, the company announced that it added 587 megawatts of solar and wind energy capacity in 2019-20, taking the total installed capacity to 2,545 megawatts. The commissioned assets include 2,148 megawatts of solar power projects and 397 megawatts of solar power projects. The company also reported that generation from these commissioned projects increased by 14.5% to 4,310 gigawatt-hour during 2019-20. The company has…

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Lower long-term LNG prices could encourage coal-to-gas switching in Northeast Asia, while Chinese LNG demand is also expected to expand this year, albeit at a slower rate, as China gets back to work.  Asia Pacific gas demand was already under pressure as the coronavirus hit consumption in China and continued downside is likely as the world struggles to contain the virus. Still, low oil prices are a mixed blessing for LNG markets. “Sustained lower oil prices will bring down LNG contract prices in Asia, which have been at a premium…

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The Board of Directors (BoD) of K-Electric (KE) Limited in its meeting held on April, 09, 2020 at the KE Head Office, approved the Company’s financial results for the year ended June 30, 2019. During the reporting period, around PKR 40 billion was invested across the Company’s power value chain. KE remains committed to making further investments across the power value chain despite mounting challenges such as growing government receivables as well as the economic slowdown because of the COVID-19 outbreak. The KE Board, while appreciating improvements in certain key…

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