Category: Shortcode

Historic Surge in Electricity Tariffs During PM Shehbaz Sharif’s Tenure

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Your-Bill

Electricity tariffs in Pakistan reached unprecedented levels during Prime Minister Shehbaz Sharif’s tenure, with an increase of PKR 25.76 per unit over two and a half years, including a permanent surcharge. According to private TV reports, this marks the highest tariff hike under any Pakistani prime minister. Details reveal a historic PKR 22.53 per unit hike in the base tariff during the tenure, alongside a permanent surcharge of PKR 3.23 per unit. Combined, these charges resulted in an unprecedented rise in electricity costs for consumers. Over the two-and-a-half-year period, the…

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JinkoSolar Files Patent Lawsuit Against Longi Over TOPCon Technology

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Jinko-Solar

JinkoSolar Files Patent Lawsuit Against Longi Over TOPCon Technology January 7, 2025 JinkoSolar has initiated legal action against Longi, accusing the company of infringing on its proprietary TOPCon solar cell technology. “JinkoSolar has demanded Longi cease infringing on the relevant patents and compensate for economic losses,” a company spokesperson told pv magazine. The lawsuit, filed by JinkoSolar’s subsidiary Shangrao Xinyuan Motion Technology Development, was accepted by the Nanchang Intermediate People’s Court and is set for a hearing on February 13, 2025. The complaint alleges that Longi unlawfully utilized Jinko’s TOPCon…

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Germany’s Electric Car Sales Drop 27.4% in 2024 Amid Auto Industry Crisis

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Electric-Car

BERLIN: Sales of new battery-powered vehicles in Germany fell sharply by 27.4% in 2024, highlighting significant challenges for the nation’s auto industry, according to official data released Monday. Germany’s KBA federal transport authority reported that only 380,609 electric vehicles (EVs) were registered out of 2.8 million new vehicles sold, marking a 13.5% market share. Overall vehicle sales in Europe’s largest car market declined by 1% compared to the previous year. EY analyst Constantin Gall called 2024 a “lost year for electro-mobility,” attributing the decline to the termination of government EV…

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PPL Asia Secures $6 Million Settlement from Iraq’s Midland Oil Company

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New-PPL

KARACHI: PPL Asia E&P BV, a wholly-owned subsidiary of Pakistan Petroleum Limited (PPL), has successfully received a $6 million settlement from Iraq’s Midland Oil Company (MdOC), concluding the Exploration, Development, and Production Service Contract (EDPSC) for Block-8 in Iraq. In a notice to the Pakistan Stock Exchange (PSX) on Monday, PPL stated, “We are pleased to notify that PPL Asia E&P BV (PPLA) has received the amount of $6 million on January 3, 2025, in relation to the closeout of the above-referred EDPSC.” The settlement agreement, finalized and signed in…

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Amended E&P Policy to Be Notified Today, Aims to Attract $5 Billion Investment

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oil and gas

ISLAMABAD: The government is set to notify the amended Exploration and Production (E&P) Policy 2012 today, enabling E&P companies to sell 35% of gas from future discoveries to the private sector through competitive auctions. This policy aims to attract $5 billion in investments to Pakistan’s oil and gas sector. According to the implementation framework approved by ECNEC on November 25, 2024, private sector purchases will be capped at 100 mmcfd for the current year. A senior official confirmed that the Law Division has cleared the draft notification, and the Directorate…

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