Category: Shortcode

Gas tariff hike won’t affect 57pc consumers: govt

Admin
gas-prices

ISLAMABAD: Minister for Energy Muhammad Ali on Thursday said the issue of circular debt in gas sector will be resolved everlastingly as many companies were leaving the country due to losses and circular debt. Addressing a press conference along with Minister for Information and Broadcasting Murtaza Solangi, he said the increase in gas tariffs would not affect 57 percent of consumers across the country rather it would help control and end the ever-increasing circular debt of the petroleum sector. The minister maintains that after the increase in gas prices, circular…

Read More

Solar power PV project: Pakistan organises roadshow in Dubai

Admin
solar-energy

ISLAMABAD: Pakistan has organized a roadshow in Dubai to attract investors for 600 MWp solar power PV project at Kot Addu (Muzaffargarh) with the support of the United States Agency for International Development (USAID) through Power Sector Improvement Activity (PSIA), well-informed sources told Business Recorder. The Government of Pakistan is pursuing the promotion and development of Alternative Renewable Energy (ARE) technologies in the country with special emphasis on solar energy. Owing to technological advancements of solar technology and decline in its prices over the last decade, solar energy is now amongst…

Read More

Oil edges up

Admin
oil-red

New York: Oil prices rose about one per cent on Wednesday on worries about the conflict in the Middle East escalating. Limiting gains, the United States reported increa­sed crude stockpiles as demand worries stemming from gloomy economic prospects in Europe weigh. Brent futures rose $1.07, or 1.21pc, to $89.14 a barrel at 1:16 p.m. (1716 GMT). US West Texas Interme­diate (WTI) crude rose 69 cents to $83.74.

Read More

Chevron to buy Hess Corp for $53b in all-stock deal

Admin
oil-and-gas

Recent deals a financial flex by US oil, gas firms that keep investing in fossil fuels HOUSTON: Chevron agreed to buy US rival Hess for $53 billion in stock in a deal that reflects top US energy companies drive for oil and gas assets in a world seeking lower-risk future fossil supplies and higher shareholder returns. The proposed deal amps up competition between Chevron, the No 2 US oil and gas producer, and Exxon, its larger rival. It also makes Chevron a partner with Exxon in Guyana’s booming oilfields expected…

Read More

Industrial consumers: Three options tailored for ‘winter package’

Admin
Power-generation

ISLAMABAD: Power Division has tailored three options for country-wide four months (November 2023 to February 29, 2024) subsidy neutral Winter Package for industrial electricity consumers on incremental consumption, which may have some financial impact on other consumers, well informed sources told Business Recorder. In option 1, a relief from Rs 3.32 per unit to Rs 7.86 per unit, in option 2 from Rs 8.57 per unit to Rs 14.13 per unit and in option 3 from Rs 12.28 per unit to Rs 17.84 per unit has been proposed. Cabinet Committee on…

Read More