Category: Shortcode

NEECA Plans Meeting to Explore Export of Green Hydrogen to China, Japan, and South Korea

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NEECA-Plans

ISLAMABAD: The National Energy Efficiency and Conservation Authority (NEECA) is set to hold a meeting to discuss the ‘National Green Hydrogen Strategy (NGHS)’ with a focus on formulating plans to export green hydrogen to China, Japan, and South Korea. Dr. Sardar Moazzam, Managing Director of NEECA, highlighted in a letter to the Secretary Petroleum that Pakistan faces challenges in managing reliable and cost-effective energy supplies given current global energy dynamics. He emphasized the importance of tapping into Pakistan’s Indigenous Renewable Energy (IRE) resources and highlighted hydrogen’s role as a crucial…

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Mughal Energy Plans to Offer 10% Shares for GEM Board Listing

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Mughal-Energy

KARACHI: Mughal Energy, a subsidiary of Mughal Iron and Steel Industries, is set to offer 10% of its shares to new investors as part of its strategy to raise capital and list on the Growth Enterprise Market (GEM) Board at the Pakistan Stock Exchange (PSX). In a notification to the PSX, Mughal Iron and Steel Industries announced that Mughal Energy has applied for listing on the GEM Board through PRIDE. This move involves offering 10% of its post-paid-up capital to accredited investors, following Chapter 5A of PSX Regulation. The GEM…

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Neelum-Jhelum Hydro­power Project Encounters Setback Again: Power Generation Decreases Post-Repair

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Neelum-Jhelum

ISLAMABAD: The Neelum-Jhelum Hydro­power Project (NJHP), with a capacity of 969 megawatts and an estimated cost exceeding Rs510 billion, has faced a setback shortly after resuming full capacity operation following extensive repair works lasting nearly 20 months. The project had been closed in July 2022 due to significant cracks in its 3.5-kilometer tailrace tunnel (TRT). After 13 months of repair, power generation resumed in August-September 2023 and reached its maximum capacity on March 29, 2024, according to the Water & Power Development Authority (Wapda). However, within a week of reaching…

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PEL Prevails in International Court Over Oil Dispute with Canadian Firm

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oil-and-gas

Islamabad, Pakistan – In a significant legal victory, Pakistani oil firm Petroleum Exploration (Pvt) Ltd (PEL) has emerged triumphant in a protracted legal battle against Bermuda-based Frontier Holdings Ltd (FHL) at the International Court of Arbitration. The ruling, spanning over 80 pages, solidifies Pakistan’s legal authority over Petroleum Concession Agreements (PCAs) and Joint Operating Agreements (JOAs) within its borders. FHL, a subsidiary of Canadian company Jura Energy Corporation, initiated the dispute regarding their involvement in the Badin North and Badin South blocks, where FHL holds a 27.5% share. The blocks…

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Fuel Prices Expected to Rise by Up to Rs8.50 per Litre

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Petrol-price

In response to international market trends, fuel prices in Pakistan are anticipated to increase significantly, with petrol and high-speed diesel (HSD) likely to rise by approximately Rs2.50 and Rs8.50 per litre, respectively, starting Monday, April 15, for the next two weeks. These adjustments come despite a reduction in import premiums and a slight strengthening of the rupee against the dollar. The surge in international market prices, including a $4 increase per barrel for petrol and $4.50 for HSD over the past fortnight, is driving these price hikes. While the import…

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