Pakistan is poised to adjust petroleum prices for the second half of April 2024 amidst escalating tensions following Iran’s drone attacks on Israel. The revised prices, to be announced on April 15, 2024, will remain in effect until the end of the month.
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You can go through stories related to energy. The stories are about changes in petroleum prices and updates on energy sector of Pakistan and world.
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FBR Invites Bids for Sale of Confiscated Diesel Oil
Karachi, April 13, 2024 – The Federal Board of Revenue (FBR) has initiated the process of auctioning a substantial quantity of confiscated diesel oil, inviting sealed bids from interested parties.
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Escalating Middle East Tensions Propel Oil Prices to 6-Month High
Oil prices surged to a six-month high, reaching levels not seen since October, as escalating tensions in the Middle East sent shockwaves through global markets.
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CHINT Power Expands Renewable Footprint in Pakistan
Beijing, April 12, 2024 – CHINT Power, a leading provider of solar power solutions, has recently solidified its commitment to Pakistan’s renewable energy sector by signing cooperation agreements with two prominent photovoltaic (PV) companies in the country.
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Today Petroleum Prices in Pakistan as of April 12, 2024
As of April 12, 2024, the petroleum prices in Pakistan stand at Rs 289.41 per liter for petrol and Rs 285.56 per liter for High-Speed Diesel (HSD), maintaining the rates set in the previous fortnight.
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Minister Labels Power Tariff Reduction as Eid Gift for Citizens
Federal Minister for Information and Broadcasting, Attaullah Tarar, hailed the recent reduction in electricity tariffs as a special Eid-ul-Fitr gift from the government to the citizens.
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Minister Sets April 23 Deadline for Electricity Theft Elimination
Federal Minister for Power, Sardar Awais Ahmed Khan Leghari, has announced a bold deadline of April 23, 2024, for eradicating electricity theft across Pakistan.
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OGDCL Announces Significant Gas Discovery in Sindh, Pakistan
Karachi, April 8, 2024 – The Oil and Gas Development Company Limited (OGDCL) made a significant announcement on Monday, revealing a substantial gas discovery from a well located in Sindh province of Pakistan, district of Sujawal.
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Updated Petroleum Prices in Pakistan During Eid-ul-Fitr Holidays
In the wake of the upcoming Eid-ul-Fitr holidays, the Government of Pakistan has announced updated petroleum prices, effective until the next fortnight revision on April 15, 2024.
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K-Electric Plans to Generate 640 MW from Solar and Wind Energy
Karachi, April 5, 2024 – K-Electric, the prominent electricity utility distribution and generation company, has revealed its ambitious plan to augment the power supply by incorporating 640 megawatts of electricity from cost-effective solar and wind resources.
Syed Moonis Abdullah Alvi, the Chief Executive Officer (CEO) of K-Electric, disclosed this strategic initiative during discussions with a delegation from the Council of Energy and Economic Journalists (CEEJ). Alvi emphasized that leveraging solar and wind power would notably reduce the production cost of electricity, aligning with sustainability objectives.
Highlighting the progress, Alvi mentioned that twelve companies from Europe, China, and the Middle East have submitted bids for investment in solar and wind power projects, contributing to the envisioned 640 MW capacity expansion. These alternative energy projects are slated to be situated in strategic locations such as Hub, Othal, Bela, and Sarjani Town of Karachi. The total investment in these projects amounts to an impressive $450 million.
However, amidst these advancements, Alvi acknowledged challenges related to line losses, leading to a reduction in the exempted area from load shedding. Previously, 80% of Karachi was exempted from load shedding, which has now decreased to 72% due to line losses. To address this issue, a 60-day timeline has been set for the resolution of outstanding dues, aiming to mitigate disruptions in power supply.
In parallel, K-Electric has initiated the installation of smart meters in Karachi, starting with an initial deployment of ten thousand units. Alvi revealed that a pilot project for Smart Meters is currently underway, with plans for further expansion based on the results. He noted that while the current cost of a Smart Meter ranges from forty to forty-five thousand rupees, bulk orders could influence pricing dynamics. Moreover, the installation of smart meters on all Power Management Terminals (PMTs) across the city is underway, enabling real-time data collection on electricity consumption every fifteen minutes from approximately 29 thousand PMTs.
The integration of renewable energy sources and the deployment of smart metering technology underscore K-Electric’s commitment to enhancing efficiency, reducing costs, and ensuring reliable power supply for Karachi’s residents. These initiatives reflect the utility’s proactive approach towards sustainability and innovation in the evolving energy landscape.