Islamabad: Pakistan International Airlines (PIA) and Reliance Petrochem Industries Private Limited signed a Memorandum of Understanding (MOU) to ensure PIA passengers safety on flight against Corona virus. Reliance Petrochem Industries Private Limited manufactures sanitization products based on specifications and guidelines provided by WHO. Reliance will provide its premium quality Aerosol Sanitization Spray Canes to all PIA passengers on board free of cost starting from June 2020. Reliance is the only manufacturer of sanitization products that is offering aerosol sanitization sprays and the first one in Pakistan to follow WHO standards…
Read MoreMonth: May 2020
Saudi Arabia Suspends Plans To Ship U.S. LNG
Bahri, the shipping arm of Saudi Aramco, has suspended plans to charter a dozen tankers for liquefied natural gas (LNG) for a U.S. export project in which it is a minority partner, after the majority owner of the project postponed the final investment decision, sources told Reuters on Thursday. The Saudi oil giant has an agreement from last year for LNG offtake and a participation of 25 percent in the Port Arthur LNG project in Texas, as part of Aramco’s ambition to become a global natural gas player. Last year,…
Read MoreOil crisis looms in Pakistan
ISLAMABAD: Pakistan might have to face shortage of petroleum products if refineries opt to cut production due to cheaper imports by Pakistan State Oil (PSO), leading to negative margins. Oil refineries have informed the government that they have faced inventory losses worth Rs31 billion in March and April following lockdowns that shook global oil markets. They also informed the government that slowdown/shutdown of any refinery in the country would have serious implications including product shortage/dryouts, port constraints and heavy strain on the country’s precious foreign exchange due to import substitution.…
Read MoreAround 70 pct of Dubai companies expect to close in 6 months amid coronavirus: Survey
Nearly 70 percent of businesses in Dubai expect to close within the next six months due to the coronavirus pandemic, according to a survey by the Dubai Chamber of Commerce. The survey released on Thursday said that more than 90 percent of the companies said they registered a decrease in sales and turnover in Q1 2020 due to the COVID-19 pandemic. The economic downturn due to the global coronavirus crisis has mainly impacted small and medium-sized companies. For all the latest headlines follow our Google News channel online or via…
Read More25 New IPPs to Add Over 12,000 MW to National Grid by 2028
25 new power projects by Independent Power Producers (IPPs) are under construction in various parts of the country and will add up to 12,464 megawatts of electricity to the national grid by 2028. The state-run news agency, APP reported this, quoting sources within the Power Infrastructure Board (PPIB). The board was set up in 1994 to promote private investments in the power sector. Later, PPIB was converted into a statutory organization through the Private Power and Infrastructure Board Act 2012 (Act VI of 2012). The report said that the power…
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