Latest news with #EPCF
Business Recorder
4 days ago
- Business
- Business Recorder
Pakistan Refinery receives EPCF bids for major expansion
Pakistan Refinery Limited (PRL) has received formal bids from companies interested in handling the Engineering, Procurement, Construction, and Finance (EPCF) work for PRL's Refinery Expansion and Upgrade Project (REUP). The refinery, a key player in Pakistan's energy sector, disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Monday. 'PRL has received Engineering, Procurement, Construction & Finance (EPCF) bids for its Refinery Expansion & Upgrade Project (REUP). PRL is in the process of evaluating these EPCF bids and will provide further updates in due course as necessary,' read the notice. PRL is a hydro-skimming refinery based in Karachi, Pakistan. Established in 1960, PRL processes imported and local crude oil into products such as furnace oil, diesel, kerosene, jet fuel, and gasoline, with a daily capacity of 50,000 barrels. The refinery operates at two locations: the main facility at Korangi Creek and crude oil berthing and storage at Keamari. With a cost of around $1.7 billion, PRL is spearheading transformative Refinery Expansion & Upgrade Project (REUP), aimed at doubling the crude processing capacity from the existing 50,000 to 100,000 barrels per day, with zero production of high sulphur furnace oil (HSFO) in five years after the project achieves its financial close. The project is designed to achieve zero furnace oil production, redirecting efforts towards maximising the production of highly profitable products, such as petrol and diesel, to Euro V standards. Earlier in February, the PRL board approved a Rs3.15 billion loan from its parent company, Pakistan State Oil Limited (PSO), to finance the company's Front-End Engineering Design (FEED) of the REUP.
Bahrain News Gazette
30-01-2025
- Business
- Bahrain News Gazette
East Africa Energy Cooperation Summit (EA-ECS) and the East African Community (EAC): Driving Energy Across the Region
With the theme 'Resource Wealth. Energy Access. Investment Opportunities' the two-day summit will explore what this means for private sector opportunities in depth ARUSHA, Tanzania – EQS Newswire – 30 January 2025 – The expansion of the East African regional energy sector is happening right now and is set for future growth. This was the clear message from the East Africa Energy Cooperation Summit (EA-ECS) as the two-day summit kicked off in Arusha. Africa's energy IPPs, EPCF stakeholders, investors and policy makers were welcomed to a summit set to shape the future of East Africa's energy landscape by Jean-Baptiste Havugimana, Director Productive Sectors, East African Community (EAC). Speaking at the opening ceremony, he noted that the access to electricity in the East African region is currently below 50 percent on average, although countries such as Kenya have gone beyond 75 percent. 'The EAC Secretariat is cooperating with all Member States to increase the rate of access. This is being achieved through shared mini hydro power grids strategically placed along border regions. The EAC is also working to establish a regional power exchange market for shared resources,' said Abundant resource discoveries and large-scale projects highlight East Africa's readiness for market expansion like never before. In the round table titled 'Powering East Africa—The Time Is Now,' leaders from the public sector and utilities from Malawi, Kenya, Uganda, and Tanzania discussed the vision and roadmap for the future. Costa Rubagumya, Deputy MD, TANESCO, Tanzania said , 'Our country connects an average of 500,000 new clients per year. But with Tanzania being among the 12 signatories of Mission 300, from the recent African Energy Summit, the country targets to triple the number to 1.6 million new customers per annum.' With the theme 'Resource Wealth. Energy Access. Investment Opportunities' the two-day summit will explore what this means for private sector opportunities in depth. Some of the discussions expected to take center stage is the push for alternative sources of energy. Stakeholders have emphasized the importance of a diversified energy mix to ensure grid stability and support large-scale industrial expansion and commercial and industrial (C&I) power generation. Joseph Siror , the Managing Director and Chief Executive Officer of Kenya Power and Lighting (KPLC) said the East African countries should now move away from over dependency on Hydro sources of energy. He pointed out that, with climate change and fluctuating weather patterns, hydroelectricity is no longer reliable and the EAC region must now consider auxiliary power sources such as Geothermal, Solar, Wind and Biogas. EA-ECS is welcoming prominent politicians and leaders from across the EAC and its energy sector. They join the private sector business developers shaping the future of East Africa's energy landscape. Distributed by APO Group on behalf of EnergyNet Ltd.. Download Image 1: Download Image 2: About EnergyNet: FACILITATING ENERGY INVESTMENT IN FAST-GROWING ECONOMIES – EnergyNet has produced investment forums and executive dialogues for Africa and Latin America's power sectors for the last 25 years – in Europe, the USA, Asia and across Africa and Latin America. We work with governments and national utilities to facilitate investment summits where credible international investors can build relationships with public sector stakeholders to advance access to power. Best known for the Africa Energy Forum, the longest-serving business development meeting place for senior-level decision makers in Africa's power sector, other leading investment summits that provide strategic perspectives on the investment landscape and project preparation include the Tanzania Energy Cooperation Summit, East Africa Energy Cooperation Summit, West Africa Energy Cooperation Summit, H2 Africa, Offshore Technology Africa, Powering Africa Summit, Latin American Energy Forum and Latin American & Caribbean Gas Conference and Exhibition. YES! Youth Energy Summit and YES! Youth Energy Day are part of the portfolio, with a focus on creating a platform and network to boost the skills, connections and business readiness of a new generation of African energy leaders. Having this focus on public and private sector partnerships provides us with a valuable lens through which we can offer independent perspectives and support the business development activities of companies from around the world operating in these fast-growing markets. Headquarters: London, UK For further information, please visit our website
Zawya
30-01-2025
- Business
- Zawya
East Africa Energy Cooperation Summit (EA-ECS) and the East African Community (EAC): Driving Energy Across the Region
The expansion of the East African regional energy sector is happening right now and is set for future growth. This was the clear message from the East Africa Energy Cooperation Summit (EA-ECS) as the two-day summit kicked off in Arusha. Africa's energy IPPs, EPCF stakeholders, investors and policy makers were welcomed to a summit set to shape the future of East Africa's energy landscape by Jean-Baptiste Havugimana, Director Productive Sectors, East African Community (EAC). Speaking at the opening ceremony, he noted that the access to electricity in the East African region is currently below 50 percent on average, although countries such as Kenya have gone beyond 75 percent. "The EAC Secretariat is cooperating with all Member States to increase the rate of access. This is being achieved through shared mini hydro power grids strategically placed along border regions. The EAC is also working to establish a regional power exchange market for shared resources,' said Abundant resource discoveries and large-scale projects highlight East Africa's readiness for market expansion like never before. In the round table titled "Powering East Africa—The Time Is Now," leaders from the public sector and utilities from Malawi, Kenya, Uganda, and Tanzania discussed the vision and roadmap for the future. Costa Rubagumya, Deputy MD, TANESCO, Tanzania said, "Our country connects an average of 500,000 new clients per year. But with Tanzania being among the 12 signatories of Mission 300, from the recent African Energy Summit, the country targets to triple the number to 1.6 million new customers per annum." With the theme "Resource Wealth. Energy Access. Investment Opportunities' the two-day summit will explore what this means for private sector opportunities in depth. Some of the discussions expected to take center stage is the push for alternative sources of energy. Stakeholders have emphasized the importance of a diversified energy mix to ensure grid stability and support large-scale industrial expansion and commercial and industrial (C&I) power generation. Joseph Siror , the Managing Director and Chief Executive Officer of Kenya Power and Lighting (KPLC) said the East African countries should now move away from over dependency on Hydro sources of energy. He pointed out that, with climate change and fluctuating weather patterns, hydroelectricity is no longer reliable and the EAC region must now consider auxiliary power sources such as Geothermal, Solar, Wind and Biogas. EA-ECS is welcoming prominent politicians and leaders from across the EAC and its energy sector. They join the private sector business developers shaping the future of East Africa's energy landscape. Distributed by APO Group on behalf of EnergyNet Ltd.. About EnergyNet: FACILITATING ENERGY INVESTMENT IN FAST-GROWING ECONOMIES - EnergyNet has produced investment forums and executive dialogues for Africa and Latin America's power sectors for the last 25 years - in Europe, the USA, Asia and across Africa and Latin America. We work with governments and national utilities to facilitate investment summits where credible international investors can build relationships with public sector stakeholders to advance access to power. Best known for the Africa Energy Forum, the longest-serving business development meeting place for senior-level decision makers in Africa's power sector, other leading investment summits that provide strategic perspectives on the investment landscape and project preparation include the Tanzania Energy Cooperation Summit, East Africa Energy Cooperation Summit, West Africa Energy Cooperation Summit, H2 Africa, Offshore Technology Africa, Powering Africa Summit, Latin American Energy Forum and Latin American&Caribbean Gas Conference and Exhibition. YES! Youth Energy Summit and YES! Youth Energy Day are part of the portfolio, with a focus on creating a platform and network to boost the skills, connections and business readiness of a new generation of African energy leaders. Having this focus on public and private sector partnerships provides us with a valuable lens through which we can offer independent perspectives and support the business development activities of companies from around the world operating in these fast-growing markets. Headquarters: London, UK
