Month: April 2021

The April climate summit

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During his campaign for the United States presidency, Joseph Biden promised to reverse his predecessor’s indifference towards the problem of global warming and palpable climate change. As the head of the American state for four years — from 2017 to 2021 — Donald Trump took a number of decisions that ignored climate science about global warming. He called the worry about global warming a hoax that had originated with China. He was of the view that Beijing was making the world focus on global warming in order to drain dynamism…

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Dana Gas, Crescent Petroleum Resume Khor Mor Expansion Project

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SHARJAH, (UrduPoint / Pakistan Point News / WAM – 26th Apr, 2021) Dana Gas and its partner Crescent Petroleum have announced the full resumption of the expansion project at the Khor Mor field in the Kurdistan Region of Iraq (KRI), which the companies jointly operate on behalf of the Pearl Petroleum consortium. The KM250 expansion involves further investment of US$600 million to add 250 million cubic feet per day of much-needed additional gas production to supply the local power stations. The project construction work had been put on hold due…

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PIDE presents proposals for key changes in real estate, energy sectors

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ISLAMABAD: The Planning Commission’s research think tank the Pakistan Institute of Development Economics (PIDE) has recommended to the government to undertake key fundamental changes in real estate and energy sectors, including doing away with the mechanism of fixing DC rates of properties. The PIDE recommended that the government should have buy-back provisions if the real estate plots were sold by declaring less than the market price. The PIDE recommends fixing POL prices on weekly basis keeping in view prices in the international market. The PIDE, in its Reform Agenda prepared…

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Qatar captures the ‘very fast growing’ Pakistani LNG market

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Oilprice.com, a renowned publication for oil-related topics has recently published an article talking about the recent success of Qatar in capturing a fast-growing LNG market, Pakistan. The author talks about the fact that even though the media has dampened the news of the Qatar Petroleum-Pakistan State Oil Company deal, but it is a big deal. According to the publication, the deal is successful in rendering Pakistan’s LNG imports cheaper, at the same time guaranteeing Qatar’s prime role on the Pakistani market, the QP-PSOC deal fully reflects both sides’ preferences. Pakistan…

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Saudi Arabia’s Shift To Renewables Could Save It $200 Billion

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Saudi Arabia could save some $200 billion over the next ten years by switching from crude oil to natural gas and renewables for electricity production, Reuters reports, citing the Kingdom’s Finance Minister. “Instead of buying fuel from the international markets at $60 and then selling it at $6 for Saudi utilities, or using some of our quota in OPEC to sell at $6, we’re going to actually displace at least 1 million barrels a day of oil equivalent in the next 10 years and replace it with gas and renewables,”…

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