A suspicious package was “neutralized” by law enforcement agents at the construction site of a pipeline in Texas, Reuters reported, noting that there was no immediate information provided as to the contents of the package. A drilling crew working on the pipeline discovered the package yesterday and halted work before calling the authorities. A bomb squad neutralized the suspicious object.…
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Iraq has asked OPEC to be exempted from oil export cuts in the first quarter of 2021, the oil minister of OPEC’s second-largest producer and the least compliant member of the pact, said on Wednesday. According to remarks of Iraqi Oil Minister Ihsan Abdul Jabba to local media, as reported by Reuters, Iraq has raised the issue with OPEC at…
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ExxonMobil is considering cutting jobs worldwide on a country-by-country basis, a spokesman for the U.S. oil supermajor told Reuters on Wednesday, after the firm began a voluntary redundancy program for its employees in Australia. ExxonMobil Australia said on Wednesday that it is offering voluntary redundancies to all its employees in Melbourne, Gippsland, Sydney, Adelaide, and Perth, following “an extensive review…
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The world’s top oil exporter, Saudi Arabia, continues to try to tighten the world’s most transparently reported oil market by slashing crude oil shipments to the United States to the lowest levels in decades. OPEC’s de facto leader Saudi Arabia is estimated to have sent to America just 177,000 barrels per day (bpd) in August, according to tanker-tracking data compiled…
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Islamabad September 2, 2020: The PAC having agreed with the Chairman WAPDA and Auditor General of Pakistan that Neelum Jhelum Surcharge is being levied in the electricity bills despite completion of the Project and expiry of notification in the year 2015, unanimously recommended that Neelum Jhelum surcharge should no more be collected from the consumers of electricity through electricity bills…
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Central Power Purchasing Agency (CPPA) along with international consultants are in the process of developing a competitive market model for the power sector in Pakistan. The State of Industry Reports 2019 by NEPRA reveals some major issues with the development of the power market. The ground realities and the situation in the country are two of the most fundamental requirements…
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After extensive discussions in the cabinet’s energy and economic coordination committees, the government agreed to the demand of the oil industry to switch the petroleum pricing mechanism from a monthly to fortnightly basis on Arab Gulf Mean oil prices published in Platts Oilgram. The key objectives of the change in the pricing mechanism were to “ensure fair competition … alignment…
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ISLAMABAD: After questioning the justification for furnace oil-based expensive power generation, the National Electric Power Regulatory Authority (Nepra) on Tuesday reserved judgement on 86 paisa per unit increase in electricity rates demanded by ex-Wapda distribution companies (Discos). “The decision will be issued after carrying out analysis with regards to the statements made by National Power Control Center (NPCC) during the…
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Pakistan is keen for Turkey investment in the country’s northern areas bordering China to help boost tourism in the scenic region. The investment offer was extended by Ali Amin Gandapur, Minister for Kashmir Affairs and Gilgit-Baltistan, in a meeting with Gokhan Umut, head of the Turkish Cooperation and Coordination Agency (TIKA) in Pakistan. Around two million tourists visit these picturesque Gilgit-Baltistan…
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