Pakistan invites Russia to Acquire OGDC, PPL shares

 Pakistan has offered Russia to participate in the divestment of government’s shareholding in the country’s largest state-run oil and gas explorers – Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL) – and become a strategic partner by acquiring shares. Pakistan has also asked Russia to become equity partner in Pakistan Refinery Limited (PRL), a subsidiary of Pakistan State Oil. Interested Russian companies may consider equity participation and/or getting engineering, procurement and construction (EPC) contract for the revamp and upgrade of the refinery. Both sides have welcomed the…

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Stocks surge 402 points on back of energy sector

KARACHI: Bulls were not only back with a vengeance but their ferocity took investors by surprise as they tossed the KSE-100 index over the 41,000-level initially before settling at 40,916.69 post second session with gains of 402.42 points (0.99 per cent). As the market opened, excited investors jostled for energy stocks with two major scrips in the sector sold like hot cakes. Pakistan Petroleum Ltd (PPL) quickly hit its upper circuit while Oil and Gas Company Development Company (OGDC) also settled close to its maximum lock. Traders said the investors’…

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Biggest Pakistan LNG Terminal Plans 2021 Start as Demand Surges

Pakistan’s Energas plans to start the nation’s largest liquefied natural gas import terminal in 2021 to help meet soaring demand once it gets the green light to build the project. Energas, a consortium of large domestic users, aims to begin construction of the $140 million to $160 million facility next year, Chief Executive Officer Anser Ahmed Khan said in an interview. The project is being supported by Exxon Mobil Corp. Energas and Exxon first proposed the terminal to Pakistan’s previous government in 2017, at that time aiming to complete it by this year. The venture is…

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Thar Coal Block-VI To Produce 1320mw Power, Gas, Diesel, Urea

The Sindh government under CPEC projects is going to launch Thar Coal Block-IV as a national strategic project to develop coal mine, install 1320 MW coal-fired power project and produce gas, urea and diesel. This was disclosed in a meeting held under between Minister Energy Imtiaz Shaikh and CEO of UK-based company, Oracle Ms Naheed Memon in the energy department. Minister Energy Imtiaz Shaikh said that with the efforts of Sindh Chief Minister Syed Murad Ali Shah Thar Block VI has been included as a potential block for coal to…

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