Pakistan Petroleum Limited (PPL) has announced a noteworthy increase in its production output, contributing an additional 17 million standard cubic feet per day (MMscfd) of gas and 530 barrels per day (bpd) of oil/condensate to its portfolio. In a statement released on Tuesday, PPL highlighted that this achievement reflects the company’s steadfast dedication to enhancing the nation’s energy security. By…
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Top refiners in Pakistan have raised concerns over the country’s plans to deregulate fuel prices, warning that this move could jeopardize planned upgrades worth up to $6 billion and even lead to the closure of some refineries. The refiners, including state-run Pakistan Refinery and private domestic refiners Pak Arab Refinery, Attock Refinery, Cinergyco, and National Refinery, expressed their apprehensions in…
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Pakistan has formally requested $3.5 billion in financing from the Kingdom of Saudi Arabia (KSA) for the Diamer-Bhasha Dam project during a recent high-powered delegation visit from KSA on April 15-16. A senior government official mentioned that KSA would respond after input from the financial adviser on the dam project. Both KSA and Wapda, Pakistan’s water and power development authority,…
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At the 7th Leaders in Islamabad Summit, industry leaders and experts discussed the future of Pakistan’s power sector, emphasizing the need for new roadmaps and privatisation to address challenges and drive progress. KE CEO Moonis Abdullah Alvi highlighted privatisation as crucial for tackling circular debt and advocated for clear long-term strategies to expedite sectoral growth. Federal Minister of Energy Awais…
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The UK saw two consecutive quarters of wind power overtaking fossil fuels as the single-largest source of electricity generation for the first time, per data from think tank Ember quoted by Reuters columnist Gavin Maguire. In the first quarter of 2024, wind-generated a total of 25.3 terawatt hours (TWh) of Britain’s electricity, higher than the 23.6 TWh generated from fossil fuel…
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US West Texas Intermediate crude was up 1%, or 0.01%, at $83.15 a barrel at 1651 GMT HOUSTON: US crude futures returned to positive territory on Monday after falling on easing fears of a wider conflict in the Middle East. US West Texas Intermediate crude was up 1 cent, or 0.01 percent, at $83.15 a barrel at 1651 GMT. The…
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ISLAMABAD: The country’s system line pack has once again increased alarmingly to 5.070 billion cubic feet per day (bcfd), putting the whole gas transmission line under severe stress. This is mainly due to the lower utilisation of regulated liquefied natural gas (RLNG) by the power and industrial sectors. To decrease the line pack pressure, Sui gas companies are excessively diverting…
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The threat of climate change exacerbates existing vulnerabilities within Pakistan, amplifying risks to livelihoods, food security, and water resources. The World Bank has sounded the alarm, highlighting Pakistan’s acute vulnerability to the ravages of climate change. In a recent report titled “Second Resilient Institutions for Sustainable Economy: Climate Change Technical Note,” the global financial institution underscored that the South Asian…
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ISLAMABAD: The federal government has the challenging task of recovering the huge amount of over Rs1 trillion from chronic running defaulters of five power Distribution Companies (Discos) of Sindh, Khyber Pakhtunkhwa (KP) and Balochistan.Last week, Minister for Power, Sardar Awais Ahmad Khan Leghari at a press conference revealed that total stock of receivables stood at Rs 1.9 trillion as of…
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Shehbaz Sharif noted that Pakistan was among one of the most climate-vulnerable countries ISLAMABAD: Pakistan, along with nations worldwide, observed International Earth Day on Monday, focusing on the theme ‘Planet vs Plastics’ to raise awareness about plastic usage, its environmental impacts, and the imperative to reduce dependency, aiming for a plastic-free Earth.Prime Minister Shehbaz Sharif, in his message on the…
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