Category: Shortcode

PPL Commences Gas Production from Takri-1 Well in Jamshoro

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New-PPL

Pakistan Petroleum Limited (PPL) has announced the start of gas production from the Takri-1 exploratory well in Jamshoro, Sindh. The development was disclosed in a notice to the Pakistan Stock Exchange (PSX). The Kotri North Joint Venture, consisting of United Energy Pakistan Limited (UEPL) as the operator with a 50% working interest, along with PPL (40%) and Asia Resources Oil Limited (10%), achieved this milestone by tapping into the hydrocarbon potential of Takri-1. Key Highlights: Exploration Details: Takri-1 was spudded on November 11, 2024, and drilled to a depth of…

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China Rises to Second-Largest Global Lithium Reserves, Boosting EV Battery Dominance

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EV-Battery

China has emerged as the world’s second-largest holder of lithium reserves, solidifying its leadership in electric vehicle (EV) batteries and renewable energy technologies. According to Xinhua, China’s share of global lithium reserves has surged from 6% to 16.5%, surpassing Australia, Argentina, and Bolivia, with only Chile ahead. This milestone is attributed to significant discoveries and breakthroughs in extraction technologies. Key Developments: Tibet Discovery: A 1,740-mile spodumene belt in Tibet is estimated to contain 6.5 million tons of lithium, with potential reserves of up to 30 million tons. Tibetan salt lakes…

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FBR Exposes Rs106 Billion Solar Panel Import Scam Involving Fake Companies

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FBR-Tex

The Federal Board of Revenue’s (FBR) Directorate of Customs Post Clearance Audit South has uncovered a staggering Rs106 billion money laundering scheme disguised as solar panel imports, Express News reported. The investigation revealed the involvement of seven fake companies: Messrs Sky Linkers Trading Company, PeshawarMessrs Sky Linkers Business Chain Private Limited, PeshawarMessrs Bright Star Business Solution Private Limited, PeshawarMessrs Moonlight SMC Private Limited, PeshawarMessrs Pak Electronics, LahoreMessrs Solar Site (Private) Limited, LahoreMessrs Royal Zone (Private) LimitedLed by Rab Nawaz and Ahmed Nawaz, the network used these companies to conduct large-scale…

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NTDC Proposes Working Group to Recover Rs 54.4 Billion from Power Sector Entities

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NTDC-Power

ISLAMABAD: The National Transmission and Despatch Company (NTDC) has proposed forming a working group to tackle its financial difficulties, with Rs 54.403 billion locked in receivables from various power sector entities. In a letter to the Secretary of Power, Dr. Fiaz Ahmad Chaudhry, NTDC Board Chairman highlighted that these long-standing “legacy balances” remain unresolved despite persistent follow-ups. The breakdown of the receivables includes Rs 24.972 billion due to alleged Energy Market Operator (EMO) violations, Rs 5.713 billion in transmission and transformation losses, Rs 4.577 billion for auxiliary consumption, and Rs…

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