Category: Shortcode

Hike in gas, power tariff inevitable ahead of IMF board meeting

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IMF-board

ISLAMABAD: Pakistan will have to notify an increase in gas sale price by 45-50 percent and electricity base tariff by Rs3.50 to over Rs4 per unit for the FY2023-24 prior to the IMF Executive Board’s meeting, which is due on July 12. The increase in energy prices will pave the way for the $3 billion programme under the Stand-By Arrangement (SBA) agreed with the IMF at the staff level, a senior official of the energy ministry told The News. “The Oil and Gas Regulatory Authority (Ogra) on June 2 announced…

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OGDCL Enhances Energy Production with renewed focus on Community Development in District Jhal Magsi

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Energy-Production

Islamabad – In a significant move towards meeting the country’s growing energy demands, Oil and Gas Development Company Limited (OGDCL), the leading exploration and production company in Pakistan, has revived Jhal Magsi Gas project. The state-of-the-art gas processing plant, with a daily capacity to produce 13.7 MMSCF process gas and 45 BBL/day condensate, will mitigate escalating energy needs of Pakistan. The installation of this plant is a testament to OGDCL’s commitment to furthering the exploration and production of oil and gas resources in the region.Besides the commercial operations, the company…

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Addressing Pakistan’s gas shortages

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Clean-Energy

Pakistan has been grappling with persistent challenges in meeting the demand for natural gas, resulting from increasing energy needs, infrastructure limitations, and supply-demand gaps. Last year, domestic natural gas production in Pakistan experienced a decrease of approximately five per cent. Around 25pc of the country’s natural gas consumption is being met through imported LNG. The government’s provision of subsidised gas to the fertiliser sector has strained resources and raised concerns about energy efficiency and environmental impact. Despite these challenges, the government has continued its provision of subsidised gas to the…

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KSA, UAE willing to invest in Pakistan: Malik

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Musadik-Malik

State minister says IT, agriculture, mining sectors key areas of interest ISLAMABAD: Minister of State for Petroleum Dr Musadik Malik on Sunday said that the Kingdom of Saudi Arabia and the United Arab Emirates were taking a keen interest in Pakistan’s information technology, agriculture and mining sectors. The KSA planned to fix $24 billion in funds for investment purposes, while the UAE allocated $22 billion funds for exploring opportunities in three sectors of Pakistan, the state minister stated in an interview with a private television channel. The heavy investment in three…

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Spain doubles green hydrogen, biogas targets

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wider-energy

Renewables to generate 81% of the country’s electricity by 2030 MADRID: Spain will double its 2030 biogas and green hydrogen production targets and raise its wider energy and climate ambitions, a draft of the government’s climate strategy showed on Wednesday. The new plan includes higher goals for solar and wind power as well as energy storage and other initiatives. Energy is a hotly debated topic in Spain ahead of national elections next month, with the front-runner, the opposition People’s Party (PP), pushing to reverse a planned phase out of Spain’s…

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