Cheema, who has over 28 years of experience in the downstream energy sector, replaces interim CEO Abdus Sami. His extensive background includes a significant tenure of 26 years at Royal Dutch Shell, where he held various leadership roles, including Managing Director and CEO of Shell Pakistan Limited.

In addition to his role at Shell, Cheema has held board-level positions, notably as Chairman of Shell Pakistan Limited. Most recently, he served as CEO of Karachi Hydrocarbon Terminal under VTTI B.V., further solidifying his expertise in the energy industry.

Cheema’s appointment comes at a crucial time for PSO, which plays a vital role in Pakistan’s energy supply chain. His experience in corporate leadership across Asia-Pacific, Europe, and South Asia positions him well to address the challenges and opportunities facing the company.

As the new CEO, Cheema will be tasked with navigating the evolving landscape of the energy sector, which is increasingly influenced by global market trends and local regulatory changes. His leadership style and strategic vision will be closely watched by stakeholders.

Details remain unconfirmed regarding the specific initiatives Cheema plans to implement upon taking office. However, his track record suggests a focus on innovation and operational efficiency.

The energy sector in Pakistan has been under pressure due to various economic factors, making Cheema’s role even more critical. His ability to lead PSO effectively will be essential for the company’s future success.

As the transition takes place, industry observers will be keen to see how Cheema’s leadership will impact PSO’s performance and its strategic direction in the coming years.

The post Jawwad Ahmed Cheema Appointed as CEO of PSO appeared first on 1News.

The government has established a National Coordination and Management Council (NCMC) to address the ongoing gas supply crisis, which has been exacerbated by a production shutdown at a 77 million tonnes per annum LNG facility in Qatar. The NCMC has directed Sui Northern Gas Pipelines Limited (SNGPL) to overhaul its domestic demand planning in response to the crisis.

Residents have voiced their frustrations, with one local trader, Kashif Haideri, stating, “A middle-class family is being issued bills ranging from thousands to even lakhs of rupees, yet when it comes to service delivery, the authorities remain indifferent.” This sentiment reflects a broader discontent with the current state of gas supply and management in the region.

Moreover, the Central Traders Organization Balochistan has criticized the extended duration of gas load-shedding, which they describe as “practically unacceptable” and detrimental to everyday activities. The situation has drawn attention to what many see as long-standing neglect and unfair treatment toward Balochistan.

Despite the limited supply, residents have reported soaring gas bills, further complicating the issue. The government has also suspended all new RLNG connections nationwide until supply chains are restored, indicating the severity of the situation.

Prior to the force majeure event, Pakistan had negotiated the diversion or deferral of more than 20 to 29 LNG cargoes scheduled for 2026, which has now become a pressing concern for energy authorities. The NCMC has mandated the immediate allocation of newly offered gas volumes from exploration and production companies to state-run utilities to mitigate the crisis.

As the situation develops, the calculation of additional profit generated by maintaining existing gas tariffs will be submitted to the NCMC for review. Observers are keenly watching how these measures will impact the ongoing supply issues and whether they will lead to improvements for the residents of Quetta and Balochistan as a whole.

Details remain unconfirmed regarding the long-term implications of these decisions and the potential for restoring normal gas supply levels in the region.

The post Sui Southern Gas Company Faces Criticism Amid Gas Supply Crisis appeared first on 1News.

In a recent development, the oil & gas regulatory authority (OGRA) in Pakistan is facing significant criticism due to its flawed pricing mechanism that has led to excessively high diesel prices. Consumers are currently paying an extra Rs. 150 per litre for domestic diesel, with the official price of imported diesel set at Rs. 496 per litre, while the actual cost of locally refined diesel is approximately Rs. 350 per litre.

This situation arises despite the fact that Pakistan produces roughly 75 percent of its diesel domestically. The pricing mechanism employed by OGRA sets diesel prices based on the cost of imported diesel rather than reflecting the costs associated with domestic production. This discrepancy has resulted in a considerable financial burden on consumers.

The government has expressed dissatisfaction with OGRA and the Pakistan State Oil (PSO) due to a noticeable disconnect between reported oil stocks and actual reserves. A high-level meeting has highlighted several red flags in the current monitoring system of oil reserves, raising concerns about the accuracy of data provided by OGRA. Inaccurate reporting has led to artificial shortages and panic buying among consumers.

Miftah Ismail, a prominent figure in the discussion, emphasized, “This isn’t rocket science,” indicating that the solutions to the ongoing issues should be straightforward. Furthermore, it has been noted that when regulatory bodies fail to accurately track the petrol and diesel available in the country, it creates opportunities for hoarders and oil marketing companies (OMCs) to manipulate the situation for their own gain.

In response to the ongoing challenges, Pakistan may need to deploy around 24,000 devices across petrol stations to implement a mobile-app-based fuel quota system. This proposed system aims to deliver subsidized fuel in a controlled, transparent, and accountable manner. However, the successful implementation of this system will require coordination across multiple institutions, including OGRA.

Experts have warned that duplicate registrations and incorrect data entries could undermine the effectiveness of the fuel quota system. The proposed digital fuel quota system is not merely a software solution; it necessitates reliable data to ensure a stable automotive market. As one expert noted, “Reliable fuel data is the backbone of a stable automotive market,” underscoring the importance of accurate information in maintaining market stability.

As the situation develops, the government and regulatory bodies are under pressure to address these issues promptly to alleviate the financial strain on consumers and restore confidence in the oil and gas sector. Details remain unconfirmed regarding the timeline for implementing the proposed fuel quota system and the measures that will be taken to rectify the current pricing mechanism.

The post Oil & Gas Regulatory Authority Faces Scrutiny Over Diesel Pricing in Pakistan appeared first on 1News.

The Sui Southern Gas Company (SSGC) is grappling with a severe gas supply crisis in Pakistan, primarily affecting residents in Karachi and surrounding areas. This crisis has resulted in a complete suspension of regasified liquefied natural gas (RLNG) supply, leaving Karachi residents with gas availability for only about 10 hours a day.

One of the critical factors contributing to this situation is the outstanding payment issue between SSGC and United Energy Pakistan. China has urged Pakistan to clear $220 million in overdue payments owed to United Energy Pakistan, which has a significant impact on gas supply levels. Currently, SSGC receives approximately 260–270 million cubic feet of gas per day from United Energy Pakistan.

The ongoing gas crisis has also led to a sharp increase in liquefied petroleum gas (LPG) prices, which have risen to between Rs460 and Rs480 per kilogram. This price surge is a direct consequence of the reduced gas supply, forcing many residents to seek alternative energy sources.

In response to the crisis, SSGC has initiated repair work on a gas pipeline that was damaged in a blast in Akhtarabad, aiming to restore normal supply levels. Additionally, the company has diverted gas through an alternate pipeline to maintain supply to Quetta city and its surrounding areas.

However, the financial strain on SSGC is evident, as the company has implemented cost-cutting measures, including staff reductions, due to liquidity constraints. These measures may further complicate the company’s ability to manage the ongoing gas supply issues effectively.

Details remain unconfirmed regarding the exact timeline for resolving the payment issue between SSGC and United Energy Pakistan. Furthermore, the long-term impact of the gas crisis on domestic consumers and the energy sector remains uncertain.

The post SSGC Faces Gas Supply Crisis in Pakistan appeared first on 1News.

Syed Taha has been appointed as the new Chief Executive Officer of K-Electric, effective April 15, 2026, replacing interim CEO Adeeb Ahmad. This leadership change was confirmed by K-Electric’s Board of Directors.

Taha has a robust background in the energy sector, having served as the Managing Director and CEO of Pakistan State Oil since February 2020. His previous experience includes a role as Executive Director at Oasis Energy and Chief Distribution Officer at K-Electric.

In addition to his extensive professional experience, Taha holds an engineering degree and an MBA in Finance from the Institute of Business Administration in Karachi. His appointment is seen as a strategic move to enhance K-Electric’s leadership amid ongoing challenges in the energy sector.

The transition comes after the tenure of Moonis Alvi, who served at K-Electric for 18 years, including 8 years as CEO. Alvi expressed his gratitude for the opportunity to lead the company, stating, “It has been an honour to serve an institution so central to Karachi’s life, alongside some of the most resilient and committed professionals I know. I will support a smooth transition.”

The change in leadership was communicated to the Securities & Exchange Commission of Pakistan, ensuring transparency in the process. Observers are keen to see how Taha will steer K-Electric in the coming months, particularly in addressing the challenges faced by the company and the broader energy landscape in Pakistan.

Details remain unconfirmed regarding specific initiatives Taha plans to implement as he takes on his new role. However, his previous experience at K-Electric and other organizations positions him well to lead the company forward.

The post Syed Taha Appointed as CEO of K-Electric appeared first on 1News.

In recent years, Lahore Electric Supply Company (LESCO) has been under scrutiny for its performance and compliance with regulatory standards set by the National Electric Power Regulatory Authority (Nepra). Despite reporting some improvements in operational metrics, LESCO has consistently fallen short of the performance benchmarks established by Nepra, raising concerns about its overall effectiveness in managing electricity distribution in Lahore.

As of June 2025, LESCO reported a reduction in transmission and distribution (T&D) losses from 15.8% to 13.4%. However, these figures still do not meet Nepra’s stringent requirements, which mandate that losses must decrease to 10% in the fiscal year 2023-24 and further to 9.46% in 2024-25. The actual losses reported were 15.92% and 13.7% for FY2023-24 and FY2024-25, respectively, indicating a significant gap between LESCO’s performance and regulatory expectations.

This shortfall in performance has had considerable financial repercussions. LESCO faced a financial impact of Rs39.4 billion in FY2023-24 and Rs35.17 billion in FY2024-25 due to its inability to meet the loss reduction targets. In October 2025, Nepra imposed a penalty of Rs25 million on LESCO for its excessive losses, further highlighting the regulatory body’s dissatisfaction with the company’s performance.

Despite these challenges, LESCO has reported a Rs23 billion improvement in recoveries, achieving nearly 100% year-end recovery rates. This indicates some progress in financial management, although analysts have noted that these reported savings reflect partial improvements rather than full compliance with regulatory targets. LESCO’s reporting has been criticized for focusing on selected financial metrics while omitting broader performance indicators, which may obscure the true state of its operational efficiency.

Reliability indicators for LESCO remain above targets, with System Average Interruption Frequency Index (SAIFI) at 28.16 against a target of 13. Additionally, the System Average Interruption Duration Index (SAIDI) is reported at 2,982.94 minutes, significantly higher than the allowed 14 minutes. These figures suggest that while LESCO has made strides in certain areas, it still struggles with reliability and service continuity.

As of mid-2025, approximately 28,984 connections were pending, indicating a backlog that could affect customer satisfaction and service delivery. Furthermore, LESCO’s fault rates per kilometer are the highest among distribution companies, raising questions about the infrastructure’s integrity and maintenance practices.

In summary, while LESCO has made some progress in reducing T&D losses and improving recovery rates, the company continues to face significant challenges in meeting Nepra’s regulatory benchmarks. The ongoing fluctuations in recovery ratios, accumulation of receivables, and limited reduction in overdue amounts have been noted by Nepra, emphasizing the need for sustained improvement and compliance with single-digit targets to meet regulatory standards.

The post LESCO Performance and Compliance Challenges in Lahore appeared first on 1News.

Bahrain’s state oil company, Bapco Energies, has declared force majeure on its shipments following an Iranian drone attack that set its refinery ablaze. This declaration comes amid ongoing regional conflicts that have disrupted operations across Gulf nations, raising concerns about potential supply constraints in the oil market.

The attack, which injured 32 people including children, resulted in significant damage to Bahrain’s only oil refinery, which has a capacity of approximately 400,000 barrels per day. Although the fire at the refinery complex was brought under control, the extent of the damage has led to a halt in operations.

Bapco Energies stated that the declaration of force majeure allows the company to interrupt shipments due to extraordinary circumstances. The company has assured that all local market needs are fully secured under its proactive contingency plans, mitigating immediate concerns for Bahrain’s fuel supply.

The ongoing regional conflict has affected oil production and refining operations not only in Bahrain but also in other Gulf nations. Analysts note that the force majeure declaration could impact regional crude trading, depending on the duration of the refinery downtime and the extent of operational disruption.

Bahrain’s strategic position in the Gulf is crucial for regional fuel demand, and any prolonged disruption could have significant implications for the energy sector. The situation remains fluid, and further developments are anticipated as Bapco Energies assesses the damage and plans for recovery.

Details remain unconfirmed regarding the full extent of the operational disruptions and the timeline for resuming normal activities at the refinery. Stakeholders in the oil market are closely monitoring the situation as it unfolds.

The post Force majeure declared by Bahrain’s Bapco Energies after Iranian attack appeared first on 1News.

Plains All American Pipeline (PAA) has announced a significant increase in its annualized distribution, raising it by 10% to $1.67 per unit. This development comes amidst a backdrop of rising oil prices and heightened tensions between the U.S. and Iran, which have influenced market dynamics and investor sentiment.

Market Performance and Shareholder Returns

In terms of market performance, PAA has demonstrated impressive returns. The company reported a 30-day share price return of 13.81% and a year-to-date return of 21.25%. Over the past five years, the total shareholder return has reached an impressive 235.55%, highlighting the company’s robust performance in a volatile industry.

Current Valuation Insights

Despite these positive indicators, PAA’s current unit price stands at approximately $22.08, which is notably above the fair value estimate of $20.65 per unit. This suggests that the stock may be overvalued by 6.9%. Furthermore, a discounted cash flow model indicates that PAA is trading 64.1% below an estimated fair value of $61.52, raising questions about its long-term valuation.

Impact of Limited Pipeline Construction

The limited new pipeline construction in the U.S. has enhanced the scarcity value of Plains’ existing midstream infrastructure. This situation could provide a competitive edge for PAA, as the demand for established pipeline capacity grows in the face of increasing energy needs and regulatory challenges.

Market Sentiment and Future Outlook

Analysts are questioning whether Plains All American is still underappreciated in the market or if the recent rally has already priced in future growth. The ongoing energy transition pressures and potential increases in capital spending could significantly impact the cash available for distributions, adding layers of complexity to the company’s outlook.

Broader Context of Oil Prices and Geopolitical Tensions

The increase in PAA’s distribution is closely tied to fee-based, volume-driven cash flows, which have been positively influenced by rising oil prices. The geopolitical tensions between the U.S. and Iran have further contributed to fluctuations in oil markets, creating an environment where companies like Plains All American must navigate both operational and external challenges.

Initial Reactions and Statements

As the market digests these developments, initial reactions have varied. Investors are keenly observing how PAA will manage its growth amidst potential pressures from energy transition dynamics and capital expenditures. Details remain unconfirmed regarding the long-term implications of these factors on the company’s financial health and distribution strategy.

The post Paa: Plains All American Pipeline () Sees Significant Valuation Changes appeared first on 1News.

Ingolstadt, a vibrant city in Bavaria, Germany, is taking significant steps towards becoming a leader in sustainable energy and innovation. As the world grapples with climate change and energy efficiency, the development and implementation of renewable energy sources have become crucial. Ingolstadt’s initiatives are not only addressing local energy needs but are also setting a benchmark for other cities in terms of sustainability and technological advancement.

Current Developments in Ingolstadt’s Energy Sector

In 2023, a series of projects focused on renewable energy have been launched in Ingolstadt. The city is investing heavily in solar energy, with plans to increase the number of solar panels installed on residential and commercial buildings. Initiatives have also been introduced to incentivise citizens to adopt solar technology, thereby creating a community oriented towards renewable energy.

Furthermore, Ingolstadt is enhancing its energy efficiency measures. Local authorities are implementing energy-saving measures in public buildings and are encouraging private sector participation in these ventures. This includes promoting energy-efficient appliances and retrofitting older buildings to adhere to modern energy standards.

Collaboration with Local Industry

Another notable feature of Ingolstadt’s energy strategy is its collaboration with local industries. Major automobile manufacturer Audi has committed to reducing its carbon footprint and is investing in electric vehicle (EV) technology. Ingolstadt’s strategic location makes it ideal for developing charging infrastructure for EVs, which is a key component of the city’s carbon neutrality goals.

The collaboration between the city of Ingolstadt and companies like Audi could lead to advancements in energy management systems, reducing waste and optimising energy usage across industries. This partnership exemplifies the importance of combining enterprise with municipal planning to foster a sustainable future.

Conclusion

As the landscape of energy continually evolves, Ingolstadt’s proactive approach offers a compelling case study in managing energy resources sustainably. With its commitment to renewable energy, efficiency measures, and collaborations with industry leaders, the city is poised to emerge as a hub for innovative energy solutions. Other cities could learn from Ingolstadt’s experiences, which underline the significance of local actions in the global fight against climate change. The future looks promising as Ingolstadt continues to pioneer sustainable energy initiatives that not only benefit its citizens but also contribute positively to the environment.

The post Ingolstadt: Pioneering the Future of Energy appeared first on 1News.

The Shell share price is a key indicator of the company’s financial health and market performance, making it a crucial point of interest for investors and analysts alike. As one of the largest oil and gas companies globally, fluctuations in Shell share price can have significant implications for market dynamics, investor sentiment, and broader economic conditions.

Recent Developments

As of mid-October 2023, Shell’s share price has experienced notable volatility influenced by recent geopolitical events and changing global oil demand. Currently, shares are trading at approximately £23.50, reflecting a 5% increase from the previous month, when prices dipped due to market reactions to OPEC production cuts.

In response to persistent inflation and energy supply constraints, Shell has introduced strategic initiatives aimed at enhancing its renewable energy portfolio. These initiatives include large-scale investment in solar and wind energy projects, which have been well-received by investors, contributing positively to the company’s stock performance.

Market Insights

Analysts from prominent financial institutions have reiterated their positive outlook on Shell’s prospects, citing its robust dividend policy and commitment to reducing carbon emissions by 2050. However, there are cautionary notes regarding potential disruptions arising from ongoing geopolitical tensions and the unpredictable nature of oil prices. Market analysts are particularly focused on the upcoming earnings report in November, which is expected to provide further insight into the company’s operational performance amidst fluctuating market conditions.

Conclusion

The trajectory of Shell’s share price remains a critical area of focus for investors. With ongoing geopolitical challenges and the company’s pivot towards sustainable energy, the implications for shareholders could be significant. Monitoring these developments is essential for potential and current investors to navigate their investment strategies effectively. As Shell continues to innovate and adapt to changing market demands, its share price will remain a barometer of not only the company’s performance but also of broader trends within the energy sector.

The post Current Trends in Shell Share Price appeared first on 1News.