Category: Shortcode

Nestlé Pakistan’s ‘Creating Shared Value’ report highlights sustainability efforts

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nestle-pakistan

Renewable energy and sustainable plastics for a sustainable tomorrow LAHORE: Building on its strong foundation, Nestlé Pakistan published its 2023 Creating Shared Value (CSV) Report, ‘Powering a Sustainable Tomorrow’ highlighting its commitments on climate action, sustainable plastics, regenerative agriculture, renewable energy and water regeneration, in line with the United Nations Sustainable Development Goals (UN SDGs). Highlighting Nestlé’s efforts, Jason Avanceña, CEO, Nestlé Pakistan, said, “We are committed to be a force for good throughout our value chain by creating shared value and delivering on our sustainability agenda. From reducing our…

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Shell Pakistan announces profit for Q1 2024

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shell-pakistan

Pakistan, May 8th, 2024 – The Board of Directors of Shell Pakistan Limited (SPL) announced the first quarter results for the company. The company posted a profit after tax of PKR 314 million compared to the loss after tax of PKR 4,762 million made in the same period last year. The Mobility business grew its network with 5 newly commissioned sites and refreshed 13 sites. The business added 13 non-fuel retail facilities across the network. The Lubricants business introduced Shell Lubricant Solutions, providing end-to-end lubricant services to B2B customers, rooted…

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OGRA Chief: Government Plans Phased Deregulation of Fuel Prices

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OGRA

Mansoor Khan, Chairman of the Oil and Gas Regulatory Authority (OGRA), announced that the government intends to deregulate petroleum prices in phases, with a collaborative approach involving all stakeholders. This decision comes in response to ongoing discussions regarding the deregulation of High-Speed Diesel (HSD) and petrol, addressing concerns and seeking consensus across the oil industry. Speaking at OGRA’s headquarters in Islamabad, Khan emphasized the importance of engaging relevant stakeholders, including dealers and oil marketing companies (OMCs), before implementing any deregulation measures. The government’s move follows a directive from the Prime…

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Power Distribution Companies Seek Nepra’s Approval for Rs51.88 Billion Recovery

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KE’S- 7-YEAR- INVESTMENT-ROADMAP

State-owned power distribution companies (Discos) have formally requested the National Electric Power Regulatory Authority (Nepra) to approve the recovery of Rs51.88 billion from consumers. This recovery is attributed to various adjustments for the third quarter of fiscal year 2023-24, spanning from January to March 2024. A significant portion of this amount, constituting 60.4% or Rs31.35 billion, comprises capacity charges from power consumers to be paid to private power generators. Once Nepra establishes the additional charges per unit for Discos, these will also apply to K-Electric customers. Aligned with federal government…

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E&P Companies Push for Depletion Allowance Amidst Regulatory Challenges

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oil and gas

In a bid to bolster hydrocarbon exploration and production (E&P) in Pakistan, companies are urging the government to grant a 15% depletion allowance on ageing fields, advocating for a waiver on the additional 15% wellhead value. This plea comes amidst discussions to ease the windfall levy on gas and condensate, emphasizing the need for incentives to optimize operations in mature fields. Sources reveal that E&P firms are highlighting the economic viability challenges posed by ageing fields, stressing the importance of cost-effective strategies like artificial lift systems ranging from $0.3 million…

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