Category: Shortcode

PSA demands strict regulation of Pakistani clean energy market to stop sales of substandard solar products

Admin
Pakistan-Solar

The Pakistan Solar Association has severely decried the unchecked import and sale of substandard solar panels in the Pakistani markets by unaccredited dealers who brazenly fleece unsuspecting consumers in the country.The PSA raised as these concerns as its leadership recently held an interactive session with the media persons in Lahore to highlight the issue of low-quality solar products freely being available in the market much to the agony of the power consumers. According to the PSA leadership, the unchecked availability of such poor-quality solar products had been hampering the government’s…

Read More

Water Storage in Major Reservoirs Surpasses Five-Year Average

Admin
water-storage

The cumulative water storage in Pakistan’s major reservoirs—Tarbela, Mangla, and Chashma—has reached 11.506 million acre-feet (MAF), surpassing the five-year average of 11.267 MAF by 2%. Tarbela Reservoir achieved its maximum conservation level of 1,550 feet on August 19, 2024, a level that has been consistently maintained. Chashma Reservoir is also near its maximum conservation level, with a current water level of 648.50 feet, just shy of the 649-foot limit. Mangla Reservoir’s water level today stands at 1,217.90 feet, slightly above its five-year average of 1,217.45 feet, holding 5.455 MAF of…

Read More

Oil, gas depletion trend reverses

Admin
oil price

New finds, rise in available reserves boost lifespan of hydrocarbon deposits. KARACHI: In a surprising turnaround, Pakistan has reversed the historical trend of depleting oil and gas reserves as it reported a 26% boost in crude oil deposits and a 2% increase in gas reserves in the six-month period ended June 30, 2024.New discoveries and an upward revision in recoverable reserves have bolstered by one year the lifespan of oil and gas deposits to 10 years and 17 years, respectively.Citing data compiled by the Pakistan Petroleum Information Service (PPIS), Optimus…

Read More

IPPs not to blame for tariff hike: Leghari

Admin
awais-lagari

Power minister says govt negotiating new terms with independent power producers Federal Minister for Energy Awais Ahmed Khan Leghari has defended the independent power producers (IPPs), asserting that these private entities are not responsible for the rising cost of electricity in the country.“The IPP policy is not the cause of expensive electricity,” Leghari told Voice of America during an exclusive interview. “The high cost of electricity is not due to any government or past policies [either] but rather the result of the country’s poor economic condition.”According to the minister, the…

Read More

PD working on Reko Diq project transaction

Admin
Reko-Diq

ISLAMABAD: Petroleum Division is reportedly in the process of initiating a summary for approval of Reko Diq Project transaction under Inter-Governmental Commercial Transaction Act (IGCTA) 2002, in coordination with Ministry of Law and Justice, well informed sources told Business Recorder.This was revealed at a recent high level meeting held to discuss progress on issues of petroleum sector.Unconfirmed reports suggest that Saudi Arabia’s Manara Minerals Investment Co. backed by the SSF (Saudi Sovereign Fund), whose delegation is also expected next month, has shown an interest in acquiring $1billion shares in Reko Diq…

Read More