Category: Shortcode

petrol price to be reduced by Rs 10 to Rs 12 per liter for the next 15 days?

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Khuda-Bakhsh

Due to the increase in smuggling, the import of oil and production of the refinery has decreased, Malik Khuda Bakhsh Karachi (12th May 2024) Due to the decrease in oil prices in the global market and the increase in oil smuggling in the country and the decrease in the consumption of imported petrol, there is a possibility that the government will reduce the price of petrol by Rs 10 to Rs 12 per liter for the next 15 days? The announcement is expected on Wednesday.  According to the sources, it…

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PPIB Expects KE’s Dhabeji Grid Station and NTDC Line to Mitigate Wind Project Curtailments

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PPIB-new

The Private Power and Infrastructure Board (PPIB) anticipates that the completion of KE’s 220 kV Dhabeji Grid Station and the NTDC transmission line will alleviate power curtailments for existing wind projects. Wind Independent Power Producers (WIPPs) recently highlighted increasing curtailments, primarily attributed to low local demand in the HESCO area and system-wide transmission constraints since 2022. PPIB notes that compensation mechanisms for grid unavailability, like the Non-Project Missed Volume (NPMV) concept, may undervalue energy losses for wind projects, affecting their financial viability. To address these challenges, PPIB emphasizes the need…

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Chinese Firms Secure Contracts in Iraq’s Oil and Gas Licensing Round

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oil and gas

Iraq recently concluded an oil and gas licensing round aimed at developing its vast gas reserves and attracting significant investments. The round, which featured 29 projects across 12 governorates, including an offshore exploration block in the Arab Gulf waters, saw Chinese companies securing contracts for five fields. Zhongman Petroleum and Natural Gas Group acquired rights to the Northern Extension of the Eastern Baghdad field and the Middle Euphrates field. China’s United Energy Group Ltd won the bid for the Al-Faw field in southern Basra, while ZhenHua secured the Qurnain field…

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Solar Panel Prices Plummet up to 25% as Imports Solar

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solar-panel

Solar panel prices in Pakistan have seen a significant drop of 15% to 25% due to a surge in imports and an abundance of supply compared to demand. Faisal Bawani, a prominent importer of leading solar panel brands, revealed that prices per watt have decreased by Rs7 to Rs13 over the last four months, thanks to a substantial increase in supply relative to consumption. This influx includes 4GW of solar panels in 2023 and 7.5GW from January to April 2024, leading to historic lows in local market prices, now ranging…

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Scrutiny Mounts Over Coal Imports for Power Plants Amid Pricing Concerns

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New-coal

As electricity affordability impacts demand and consumers look beyond the national grid, the procurement of imported coal for power generation is under scrutiny. Despite overarching policies favoring localization and import substitution, power plants are leaning towards long-term coal imports. This shift, facilitated by streamlined spot imports, has halved coal prices, raising questions about transparency and market dynamics. Former caretaker power minister Muhammad Ali initiated an investigation into coal purchases for the Sahiwal Coal Power Project, though subsequent developments suggest inquiries have stalled. The Central Power Purchasing Agency (CPPA) CEO dismissed…

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