Category: Shortcode

Pakistan Petroleum Limited (PPL) Boosts Production Output

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PPL-achieves

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 employing cost-effective measures, PPL has successfully augmented its indigenous hydrocarbon production, which is poised to play a crucial role in narrowing the energy demand and supply gap in the country.…

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Refiners Warn of Potential $6 Billion Upgrades at Risk Due to Fuel Price Deregulation Plan

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fuel-oil

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 a letter to the country’s oil regulator, the Oil & Gas Regulatory Authority (OGRA). The proposed deregulation by OGRA would allow oil marketers and refineries to set fuel prices independently,…

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Pakistan Seeks $3.5 Billion Financing from Saudi Arabia for Diamer-Bhasha Dam

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Bhasha-Dam

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, will appoint financial advisers to conduct due diligence on the project’s business model. The total cost of the Diamer-Bhasha Dam is $8 billion, with a foreign component of $4 billion.…

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Experts Advocate Privatisation and Clear Roadmaps for Pakistan’s Power Sector

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power-subsidy

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 Ahmad Khan Leghari echoed this sentiment, emphasizing privatisation as a key government agenda for ensuring sector stability and consumer welfare. Alvi noted KE’s interest in renewable energy projects, reflecting a…

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Wind Overtakes Fossil Fuels as the UK’s Largest Power Generation Source

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wind-energy

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 sources, Ember data showed. As a result, wind power generated an average of 39.4% of the UK’s electricity between January and March 2024, versus a 36.2% share of fossil fuel…

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