Tag: energy updates

KE launches ‘Energy Progress & Innovation Challenge 2025’

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KE launches

KARACHI: Committed to fostering creativity, innovation, and localisation in the energy sector, K-Electric has launched Energy Progress & Innovation Challenge (EPIC) 2025. Building on the resounding success of its pioneering 7/11+ Innovation Challenge introduced in 2022, EPIC will unite entrepreneurs, academia, researchers, and think tanks to develop cutting-edge solutions for the energy industry. Innovators may address K-Electric’s predefined challenge statements or propose their own transformational ideas. This year’s EPIC Challenge spotlights carefully deliberated themes that align with regulatory priorities and key customer challenges, including “Tamper-proof PMT-based load-shedding solutions” to enable…

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OPEC takes long-term view of global oil markets, aims for stability

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global oil markets,

NEW DELHI: Decisions from oil producer group OPEC+ take a long-term view of the global markets and are aimed at providing price stability, Secretary General Haitham Al-Ghais said at the India Energy Week conference on Tuesday. The comments came after U.S. President Donald Trump repeatedly called on the producer group to increase oil production to help reduce prices. Iran urges OPEC to unite against potential US oil sanctions The Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, said earlier this month that it remained…

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Oil gains over 2% after OPEC+ delays output hike, US election in focus

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Oil-gains

Oil prices rose more than 2% on Monday on a decision by OPEC+ to delay by a month plans to increase output, while the market braced for a crucial week that includes the U.S. presidential election. U.S. Democratic candidate Kamala Harris and Republican Donald Trump remain virtually tied in opinion polls ahead of Tuesday’s Election Day, and the winner might not be known for days after voting ends. Brent futures were up $1.73 per barrel, or 2.4%, to $74.83 a barrel at 1324 GMT. U.S. West Texas Intermediate (WTI) crude was…

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FPCCI Proposes Amendments in Petroleum Act 1934Atif Ikram Sheikh, President FPCCI

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FPCCI-Project

Karachi: Atif Ikram Sheikh, President FPCCI, has appreciated Senator Musadik Malik, Federal Petroleum Minister and the Director General of Explosives at Ministry of Petroleum for responding to the concerns of trade and industry vis-à-vis the definition, handling, storage and licensing requirements of liquid hydrocarbon, mixed hydrocarbons and any other material or mixture containing hydrocarbons. Atif Ikram Sheikh apprised that FPCCI had officially written to the DG Explosives after receiving multiple complaints and queries from the sector to seek clarification. While we acknowledge their reply; nevertheless, we, at FPCCI, feel that…

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NEPRA reserves decision on KE’s PKR247 million fuel cost relief proposal for September

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Power Division

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) held a public hearing on October 31, 2024, to review a petition by K-Electric (KE) for a provisional monthly fuel charge adjustment (FCA) for September 2024. If approved, the requested adjustment would provide an anticipated relief of PKR 247 million, which translates to a reduction of PKR 0.16 per unit for consumers in KE’s service area. Fuel charge adjustments, such as this one, reflect the varying global fuel prices used for electricity generation and changes in the generation mix. These adjustments are…

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