Month: February 2021

Oil & Gas Upstream Activities Global Market Report 2021: COVID 19 Impact and Recovery to 2030

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Major companies in the oil and gas upstream activities market include Saudi Aramco; Rosneft; Kuwait Petroleum Corporation; ADNOC and Iraq Ministry of Oil. The global oil & gas upstream activities market is expected to grow from $2635.45 billion in 2020 to $3335.52 billion in 2021 at a compound annual growth rate (CAGR) of 26.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities…

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SEPA displeased at flouting of green laws

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The Sindh Environmental Protection Agency (SEPA) has expressed its disapproval of the car and cement manufacturing plants over non-compliance with green laws and in this regard the authority has also fixed separate hearings to inquire about the position of companies. SEPA Director General Naeem Ahmed Mughal visited different automobile industrial units on Tuesday, including that of Kia Motors and Master Motors, to inspect whether their operations were consistent with the Sindh Environmental Protection Act 2014 and its rules. According to a statement issued by a spokesperson for the Environment, Climate…

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Allocation of existing pipeline capacity: Move to create monopoly of two private LNG terminals gets scuttled

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ISLAMABAD: The move by the Maritime Affairs Division (MAD) for creating a monopoly of two private LNG terminals, which are not yet visible on the ground, on the existing pipeline capacity has got scuttled as a sub-committee on the issue, headed by Asad Umar, has clearly opposed the move, saying the concessions proposed to the original terms of the provisional LoI (Letter of Intent) and project guidelines are meant to favoring the two companies, Tabeer and Energas that could leave other players in the market high and dry. The concessions…

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Steel company to install solar power project

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At a time when the government is suspending gas supply to the industry that generates its own electricity, Agha Steel Industries has announced plans to install a 2.25-megawatt solar power project. According to a notification sent by the company to the Pakistan Stock Exchange (PSX) on Wednesday, it has signed a contract with Renewable Power Private Limited for installation of the 2.25MW solar power project at its production facility located at Port Qasim, Karachi. “Meezan Bank has been nominated as the lead Islamic banking arranger for the project,” it said.…

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Fauji Fertiliser to get gas supply for another five years

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ISLAMABAD: The Eco­no­mic Coordination Commi­t­t­ee (ECC) of the cabinet on Wednesday allowed continuation of gas supply to Fauji Fertiliser Bin Qasim for an­other five years and remo­ved a cap on dividend distribution on Mari gas to facilitate divestment of about 20 per cent of its shareholding. A meeting of the ECC presided over by Minister for Finance and Revenue Dr Abdul Hafeez Shaikh also approved a technical supplementary grant of about Rs190 million, including Rs150m for advertisement campaign for projection of government activities on Covid-19 and Kashmir Solidarity Day. The…

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