Year: 2020

China further opens energy sector

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China is committed to a stable global energy market and is further opening its energy sector to the world, said a white paper released Monday.The country has greatly eased market access for foreign investment, and has built a market-based international business environment that respects the rule of law to facilitate free trade and investment, according to the white paper titled “Energy in China’s New Era” released by the State Council Information Office. The document said the country has adopted pre-establishment national treatment plus a negative list, reducing restrictions on foreign…

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Construction work on first private sector LNG terminal to start in January

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ISLAMABAD (Dunya News) – A multinational company will start construction on first merchant Liquefied Natural Gas (LNG) terminal in the country by end of the next month [January] after the government opened up the energy sector under its ease-of-doing-business strategy. “A vibrant structural framework is very much in place under which construction work on the first private sector LNG terminal will start by end of the January, while the physical work on another merchant terminal to commence in second half of the year 2021,” a senior official privy to the…

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Pakistan petrol crisis: Inquiry commission termed “controversial”

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ISLAMABAD: The Petroleum Division is unhappy with inquiry commission investigating Pakistan’s petrol crisis. They have called the commission “controversial”. In a response to last week’s report by the inquiry commission, the petroleum division expressed its dissatisfaction over the commission’s members. The inquiry commission’s report on the petrol crisisThe five-member Inquiry Commission, headed by FIA Additional Director-General Abubakar Khudabaksh, has recommended strict action against the Petroleum Division secretary, Oil DG, Ogra and private oil marketing companies (OMCs). The commission’s report also asked for dissolution of Oil and Gas Regulatory Authority (Ogra)…

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Abu Dhabi secures funding to build world’s largest solar power plant

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DUBAI: The Abu Dhabi National Energy Co. (TAQA) on Tuesday announced it has secured funding to build the world’s largest solar power plant.The successful financial closing of Al-Dhafra Solar Photovoltaic (PV) Independent Power Producer (IPP) project was achieved alongside TAQA’s partners Masdar, EDF Renewables and JinkoPower. The plant will be located around 35km from Abu Dhabi city, will have capacity of 2 gigawatts (GW) and will supply power to the Emirates Water and Electricity Co. (EWEC).When complete, Al-Dhafra Solar PV IPP will be the world’s largest single-site solar power plant,…

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Punjab Thermal Power signs Rs100bn financing deal with banks’ consortium

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LAHORE: The signing ceremony of Rs100 billion financing agreement between the Punjab Thermal Power (Pvt) Ltd and a consortium of six banks, for enhancing capacity upto 1,263 megawatt, was held at a hotel on Thursday. Provincial Secretary Finance Abdullah Sumbal signed the agreement in the presence of Chief Minister Sardar Usman Buzdar. Addressing the ceremony, the CM termed the agreement the largest sovereign guarantee in the history of the country and congratulated provincial ministers Hashim Jawan Bakht, Dr Akhtar Malik and others. GSA and PPA agreements had been signed despite…

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