Category: Shortcode

Global CO2 Emissions to Reach Record High in 2024, Escalating Climate Risks

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Global-CO2

BAKU, AZERBAIJAN — Global carbon dioxide emissions are projected to reach an unprecedented 41.6 billion metric tonnes in 2024, intensifying the risks posed by climate change, scientists warned at COP29. The Global Carbon Budget report, released at the UN climate summit, highlights a 1 billion tonne increase from last year’s emissions of 40.6 billion tonnes. Emissions from fossil fuels—coal, oil, and gas—will contribute 37.4 billion tonnes, up by 0.8% from 2023. The remaining emissions stem from land-use factors like deforestation and forest fires. Compiled by over 80 institutions and led…

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FPCCI Calls for Unrestricted Access to Winter Power Relief for SMEs

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Qurrat-Ul-Ain

KARACHI — The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), through its Acting President Qurrat Ul Ain, has urged the government to extend its winter electricity relief package to small and medium enterprises (SMEs) without the 100,000-unit consumption condition from the prior year. Qurrat Ul Ain suggested that the Rs26/kWh rate apply to all incremental units consumed beyond this threshold, allowing SMEs and newer industries to benefit equally alongside larger companies. She noted that this restriction could hinder the package’s effectiveness by disadvantaging smaller businesses, limiting growth in…

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Petroleum Prices Set to Rise by Up to Rs5.90 Per Litre from November 16

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petrol-price

ISLAMABAD — The federal government is expected to increase petroleum product prices by up to Rs5.90 per litre for the upcoming fortnight, effective November 16. Sources indicate that the ex-depot price of petrol may rise by Rs2.58 per litre, from Rs248.38 to Rs250.96. High-speed diesel (HSD) could see a more substantial increase of Rs5.91 per litre, moving from Rs255.14 to Rs261.05. Kerosene oil is projected to increase by Rs5.54 per litre to Rs167.08, while light diesel oil (LDO) may go up by Rs5.90 to Rs153.41 per litre. These adjustments are…

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OGDCL Commences Gas Production from Uch-35 Well in Balochistan

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New-OGDCL-2

ISLAMABAD: Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production (E&P) company, has launched natural gas production from the Uch-35 development well in Dera Bugti, Balochistan. The announcement, made to the Pakistan Stock Exchange (PSX) on Wednesday, marks a key step in the company’s strategic growth. OGDCL reported that the Uch-35 well was drilled to a depth of 1,345 meters, tapping the hydrocarbon-rich Sui Main Limestone formation. Currently, the well produces 5 million standard cubic feet per day (MMSCFD) of natural gas. Following the installation of a…

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Power Division Fails to Meet PMO’s Key Energy Sector Tasks

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Power-Division

ISLAMABAD: The Power Division has reportedly fallen behind on a majority of tasks assigned by the Prime Minister’s Office (PMO) through the Task Management System (TMS), including the critical establishment of a competitive electricity market. Of the 147 tasks assigned, only 53 have been completed, with 77 overdue and 17 still in progress, according to PMO sources. The review highlighted concerns regarding delays in key initiatives. Notably, the Boards of the Private Power and Infrastructure Board (PPIB) and the National Energy Efficiency and Conservation Authority (NEECA) remain incomplete, hindering progress…

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