ISLAMABAD: The federal government on Thursday decided to scrap an ongoing process for offloading its stake in Oil and Gas Development Company (OGDC) in the stock market and instead would offer one-tenth of its shares to an international firm having sector expertise. The decision was taken during a meeting held at the Ministry of Privatisation, chaired by Privatisation Minister Mohammad Mian…
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Calls for new pricing deals from buyers as US LNG production shut-ins are on the cards
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LAHORE: The Lahore High Court (LHC) on Friday banned the use of polythene bags across the city. During the proceedings, LHC ordered the authorities concerned to implement the court orders and completely prohibit the use of polythene bags within two weeks. LHC’s Justice Shahid Karim ordered the relevant authorities to appraise the court about banning the use of plastic bottles by…
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Brent also falls by about US$ 4 to US$ 46 per barrel.Oil Crashes on Reports that OPEC and Russia failed to Rollover existing supply cuts. Good development for Pakistan macros, as massive decline in Oil prices may lead to decline in energy imports, thereby helping reduce trade deficit; pass-on should lead to decline in inflation, as well as reduced energy…
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ISLAMABAD: Prime Minister Imran Khan on Thursday ordered to devise an emergency programme to address the energy and petroleum sectors’ challenges and to ensure that the reformation process puts minimum burden on the common man. “The common man would not be made to bear the brunt of an inefficient and corrupt system, which has been enforced for years,” he remarked while…
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KARACHI: The K-Electric Limited’s board has approved the incorporation of a private limited company to undertake renewable energy and other projects envisaging an investment of $3 billion in next four years, the power utility said in statement on Thursday. “The proposed company will be a wholly-owned subsidiary of K-Electric, subject to regulatory and other required approvals and completing required corporate…
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ISLAMABAD: Government is mulling divestment of up to 10 percent of its stake in state-owned Oil and Gas development Company (OGDCL) and Pakistan Petroleum Limited (PPL), sources said. The decision was taken on Thursday during a meeting presided over by Minister for Privatisation Mohammed Mian Soomro. Senior officials of OGDCL, ministries of petroleum and privatisation agreed with the divestment proposal…
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He was addressing a high-level meeting to review measures taken to improve the performance of state-owned enterprises (SOEs). PM Khan underscored the need for taking emergent measures to control the existing challenges in both the sectors. According to him, a massive awareness campaign among the general public should also be launched. He said the common man would not be made…
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The award is in recognition of WLPGA’s activities in promoting LPG as a marine fuel and for its report: “LPG Bunkering, Guide for LPG Marine Fuel Supply”. The report offers guidance for LPG marine fuel supply, concluding that sufficient potential infrastructure for distribution of LPG is available to serve potential marine market demand. LPG is a key enabler for IMO…
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US natural gas futures edged up for a third day in a row on Wednesday due to a slight decline in output, despite weather forecasts confirming the previous warmer-than-normal forecast for the next two weeks. After rising about 7% earlier this week, front-month gas futures for April delivery on the New York Mercantile Exchange rose 2.7 cents, or 1.5%, to…
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