Previous govt made Rs72 billion illicit payment to power producers: AGP
The ECC meeting was apprised the sub-committee on circular debt had called the non-adjustment of liquidity damages by the Minister of Water and Power (MoWP) against claims of Independent Power Producers (IPPs) of Rs22.91 billion as illegal
Asia’s troubled emerging markets to shave oil demand next year
SINGAPORE: Asia’s emerging markets, the key driver for global oil demand growth, are being hit hard by soaring crude prices and sliding...
Oil prices edge up amid uncertainty over fallout from Iran sanctions
The most-active Brent crude futures contract, for December, had risen 18 cents, or 0.22 percent, to $81.56 per barrel by 0126 GMT. That was close to a four-year high of $82.55 struck on Tuesday
Furnace oil-based power generation to be phased out over coming few years: Nepra
The power sector regulator opposed any move to reduce power tariff for end-consumers, cautioning any such move being contemplated by the government could impact upcoming power projects
Shell Pakistan to establish RLNG terminal and retail outlets along CPEC route
Shell Pakistan CEO told that before the tanker incident in South Punjab last June, its average market share had stood at 16-18 percent and had fallen by half to 8 percent
NEPRA fines K-Electric over failure to provide reliable power supply in Karachi
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has imposed a fine of Rs5 million on K-Electric Limited on account of its...
Pakistan, Russia sign $10bn energy deal
ISLAMABAD:Â Pakistan and Russia have formally signed a Memorandum of Understanding (MoU) on Thursday in Moscow for the construction of an offshore gas...
Clover Pakistan granted license to operate as lubricant marketing company
The company said it expects an increase in profitability of the business by sale of lubricant products in the upcoming financial year
Oil prices rise 1% ahead of U.S. sanctions against Iran
SINGAPORE: Oil prices rose by 1 percent on Thursday, pushed up by the prospect of tighter markets due to U.S. sanctions against...
China says plots to disrupt ties with Pakistan will fail
BEIJING: Any plots to sow discord in China’s ties with Pakistan will not prevail, the Chinese government’s top diplomat said on Tuesday,...
United Energy to buy Kuwait Energy for $651m
Founded in 1992, United Energy acquired BP’s assets in Pakistan in 2011 for $775 million and has since invested heavily in that country,
ECC postpones power tariff increase decision till next meeting
As a whole, these surcharges generate Rs100 billion per annum to service power sector loans and subsidies for the poor which ensures a uniform power tariff across Pakistan
Pakistan, Russia set to sign $10bn gas pipeline deal
The pipeline will be completed in three to four years
In a major breakthrough, Pakistan and Russia will sign a $10 billion offshore...
Khushhali Bank partners Greenlight Planet to address Pakistan’s energy constraints
HYDERABAD: Khushhali Microfinance Bank (KMBL), Pakistan’s largest microfinance bank, has partnered with Greenlight Planet, a global leader in solar home energy products, with...
Scottish boat-like tidal turbine produces 3 GWh cheap electricity all year round
GLASGOW: Scotland’s Scotrenewables Tidal Power has shared the figures of its tidal energy 2MW prototype called SR2000, which has generated more energy in the past...