Sale of LNG-Based Power Plants Faces Delay

ISLAMABAD: Pakistan’s plan to raise around $1.5 billion from the privatisation of two power plants is facing delay as only one foreign investor has submitted documents amid uncertainty caused by Prime Minister Imran Khan’s decision to skip the Kuala Lumpur Summit 2019.Foreign investors of Malaysia, China, Qatar, the United Arab Emirates and Saudi Arabia had initially shown interest in taking…

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PPL Finds Gas in Sindh, Balochistan

KARACHI: Pakistan Pet­­r­o­leum Ltd (PPL) ann­ou­nced two discoveries on Monday. A notice to the PSX info­rmed of hydrocarbon discovery in exploratory well, Bitro-I, in Latif Block loca­ted in Khairpur District, Sindh, by the Joint Venture Partners of the Latif Explo­ration Licence. The company holds 33.30pc working interest in the block. The second notice to the exchange related to hydrocarbon discovery…

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Debt Continues To Plague Pakistan’s Energy Chain

ISLAMABAD: Energy prices are rising consistently, so is the cost of doing business, which ultimately dents competitiveness of Pakistan. At the same time, the high prices are not enough to slash the growing circular debt in the energy chain. Though the government has taken measures to tackle the circular debt by curtailing losses of energy companies and checking power theft along…

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Egypt To Begin Gas Imports From Israel Next Month

CAIRO: Egypt will begin importing natural gas from Israel by mid-January 2020, Israeli Energy Minister Yuval Steinitz told Israel Radio on Sunday. “(The exports) will begin in the middle of next month and perhaps even earlier,” he said. Israeli gas exports to Egypt will gradually reach 7 billion cubic metres, a senior industry source, who earlier in the day disclosed a mid-January…

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