Category: Shortcode

Solar Power Surpasses Coal in EU Electricity Mix for the First Time

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Solar-Panels

Jan 23 (Reuters): Solar energy has overtaken coal in the European Union’s electricity mix for the first time, according to data released by energy think tank Ember on Thursday. Solar power accounted for 11% of the EU’s electricity generation in 2024, up from 9.3% in 2023, while coal’s share fell below 10%—a historic low since Ember began tracking these figures in 2011. The shift reflects the EU’s push to expand renewable energy to meet climate targets, reduce emissions, and cut dependence on fossil fuel imports to enhance energy security. Gas-fired…

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Pakistan’s Oil and Gas Production Declines Amid Weak Demand

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oil and gas

Karachi: Pakistan’s oil and gas production recorded a significant decline during the first half of the current financial year, with oil output dropping by 10% and gas production falling by 7%, according to data released on Wednesday. The decline was largely attributed to forced curtailments at major fields like Nashpa and the TAL block, driven by reduced gas demand. Key oil fields, including Nashpa, Makori East, Pasakhi, Maramzai, Mardenkhel, Rajian, and Dhok Sultan, saw lower production during the July-December period. However, some fields, such as Mamikhel South, Sono, and Bettani,…

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OGDCL Enhances Oil Production at Kunnar Oil Field, Sindh

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New-OGDCL-2

Hyderabad, Sindh: The Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production (E&P) company, has significantly boosted oil production at its Kunnar Oil Field in the Hyderabad district of Sindh. In a notice to the Pakistan Stock Exchange (PSX), OGDCL announced that the production at Kunnar-12 well has increased from 1,060 barrels per day (bpd) to 1,820 bpd, marking an impressive 760 bpd increment. This enhancement was achieved through production optimization efforts, including replacing the conventional Jet Pump with an advanced Electrical Submersible Pump (ESP). Additionally, the…

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Pakistan to Seek IMF Approval for Power Tariff Rebasing: Aimed at Easing Consumer Burden

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Power Division

ISLAMABAD: Pakistan is set to formally approach the International Monetary Fund (IMF) to gain consent for a planned rebasing of electricity tariffs, a move aimed at mitigating financial pressure on consumers and averting potential public protests. Previously communicated informally to the IMF, the government’s rebasing proposal seeks to address concerns over high electricity rates, which have sparked widespread dissatisfaction. The plan involves revising the timeline for annual tariff adjustments, shifting the effective date from July 1 to January 1, a period of lower electricity demand. Policy guidelines have been issued…

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LAUNCHING CEREMONY OF MOBILE APPLICATION – ‘RAAHGUZAR’

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New-Project

Islamabad, January 22, 2025 – The Oil and Gas Regulatory Authority (OGRA), in collaboration with the Federal Board of Revenue (FBR) and the Oil Companies Advisory Council (OCAC), has launched a state-of-the-art mobile application, ‘Raahguzar.’ This innovative app, utilizing Geographic Information System (GIS) technology, enables users to pinpoint legal petrol pumps and outlets across the country, marking a significant step in the digitization of Pakistan’s oil supply chain. The launching ceremony, held at OGRA head office in Islamabad, was attended by senior officials from the Ministry of Energy (Petroleum Division),…

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