Category: Recent Post

ACWA Power International, one of Saudi Arabia’s main vehicles for building renewable energy projects, is set to raise up to 4.55 billion riyals ($1.2 billion) in what would be the biggest offering in Riyadh since Saudi Aramco’s listing. The Riyadh-based utility, half-owned by the kingdom’s sovereign wealth fund, has set the price range for its offering between 51 riyals and 56 riyals per share, according to a statement on Tuesday. The company is selling 81.2 million shares, or an 11.1% stake, to raise financing for its transformation into a low-carbon…

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Engro’s liquefied natural gas (LNG) import terminal is scheduled to shut down for four days (Tuesday-Friday) for repair and maintenance work and the suspension is expected to halve LNG supplies to power plants, CNG stations, commercial, industrial and residential consumers. LNG supply from the terminal will remain suspended for the first two days of repair work, which is being undertaken to replace temporarily installed floating storage and regasification unit (FSRU) Sequoia with a permanent one, Exquisite, which had gone to Qatar for overhaul in June. “Engro Elengy’s own FSRU Exquisite…

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As the Islamabad High Court ruled against allotment of more than one plot to top bureaucrats at public expense, documents reveal that 588 senior officers in grades BS-20 to BS-22 have acquired luxury double-storey houses at subsidised rates. The IHC had on Monday temporarily suspended the allotments in Islamabad’s new sectors and referred the matter to the federal government to examine whether the allotment of plots to bureaucrats and judges was justified. The federal government intended to examine the ‘entitlement’ of such allottees to ensure observance of Article 25 of the Constitution…

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As China Pakistan Economic Corridor (CPEC) has entered the second phase, the new energy cooperation between Pakistan, ASEAN and China will still play an important role under the frame, said Badar uz Zaman, Commercial Counsellor of Embassy of Pakistan in China. “Sustainable development will be an unavoidable important agenda in the triangle cooperation,” he said in an interview during the 18th China-ASEAN Expo which concluded on Monday. At the 70th Anniversary of Establishment of Diplomatic Relations between China and Pakistan & Bilateral Trade and Investment Forum, a sub-activity of the Expo, representatives of Chinese energy enterprises shared their successful experience of participating in CPEC. Ren Hongbin,…

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The electricity generation by WAPDA hydel power stations surpasses 8800 MW during the peak hours on Sept 12, which is the highest hydel electricity generation during the current year.

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