ISLAMABAD: The government slashed electricity rates for industries and agriculture by about Rs15 per unit on excess consumption, aiming to spur production and ease operating costs amid broader pressures on energy prices.
Energy
Pakistan to sell surplus LNG on global markets from January to ease gas glut
LAHORE: Pakistan plans to start selling excess liquefied natural gas on international markets from Jan. 1 as it grapples with a supply glut that’s swelled circular debt in the gas sector and inflicted losses of about Rs1 trillion since 2018-19.
OGDCL triples tight-gas study area, plans aggressive shale push
ISLAMABAD: State-owned Oil & Gas Development Co. is gearing up for a significant push into unconventional gas starting early next year, seeking to ramp up domestic output and ease the country’s heavy dependence on imported liquefied natural gas.
Oil industry rebuffs regulator’s tight deadline for costly Rs60 billion digital mandate
ISLAMABAD: The oil companies are pushing back against a government mandate to digitally integrate more than 32,000 fuel storage tanks, depots and petrol pumps within six to 12 months, citing prohibitive costs of as much as Rs60 billion and a lack of any plan to recover the expense.
Inflation eases to 6.1 percent in November as food, energy pressures moderate
ISLAMABAD: Pakistan’s inflation cooled slightly to 6.1% in November, staying within the government’s forecast range as moderating fuel costs and improved crop supplies helped offset lingering pressures from floods and border disruptions.
Pump prices eased as Brent cools; tax load remains elevated
ISLAMABAD: The government has reduced retail prices of high-speed diesel by Rs4.79 a liter and petrol by Rs2 a liter effective Dec. 1, passing on the benefit of softer international crude prices in the second half of November.
Govt likely to cut fuel prices by up to Rs6.30 a liter as global rates dip
ISLAMABAD: The government is poised to lower prices for all petroleum products by as much as Rs6.30 per liter starting Sunday, reflecting modest declines in international markets, according to industry officials.
Ogra approves up to 7 percent gas price hike to cover utilities’ Rs886bn revenue gap
ISLAMABAD: The oil and gas regulator has approved increases of as much as 7% in prescribed natural gas prices for the fiscal year ending June 2026, paving the way for higher tariffs that could add to consumer burdens amid efforts to curb a ballooning energy-sector debt.
PPL denies building offshore island, says project prepares marshy drilling site
KARACHI: Pakistan Petroleum Ltd (PPL) on Thursday rejected as misleading a report that it was reclaiming land from the sea to build an artificial island for oil and gas exploration, saying its project in a marshy area near Sujawal involved only preparations for safe drilling in difficult tidal terrain.
ADB approves $330 million to modernise Pakistan grid, lift hydropower transmission
ISLAMABAD: The Asian Development Bank (ADB) on Thursday approved loans totalling $330 million for the Second Power Transmission Strengthening Project, which the bank described as one of the government’s top priority investments to expand the national transmission network and evacuate low-cost renewable and hydropower to major load centres.