Day: June 10, 2021

Saudi Arabia has approved a funding of 901 million Saudi Riyal (Rs. 37.4 billion) for the construction of Mohmand Hydropower Dam, says the Economic Affairs Ministry. According to an official statement issued by the Ministry, Saudi Arabia Ambassador to Pakistan Nawaf Bin Said Al-Maliki met the federal minister for Economic Affairs Omar Ayub Khan here on Wednesday. The Saudi Ambassador briefed the Minister of Economic Affairs on the recent successful visit of the Prime Minister of Pakistan Imran Khan to Saudi Arabia. According to the Ministry, the Saudi envoy shared…

Read More

The suppliers gave a lukewarm response to the tender issued by the Pakistan LNG Limited (PLL), as only one supplier, Vitol Bahrain, made the offer for one cargo to be supplied in July 2021, a statement issued by the company said on Tuesday. Earlier, Pakistan LNG Limited had invited bids for the supply of two LNG cargoes of 140,000 cubic meters each to be delivered on July 8 to 9, 2021, and July 12 to 13, 2021. The bids were opened on June 8. However, just one supplier Vitol Bahrain…

Read More

The Federal government has on Wednesday (today) announced to lower sales tax on petroleum products. According to a notification issued today, the sales tax on Kerosene oil was lowered to 10.07% against the previously charged tax of 15.44%. The sales tax on light diesel was lowered to 3.67% from 7.56%. However, the notification mentioned that the sales tax would be charged at 17% on petrol, and high-speed diesel, and there would be no changes in it. Prime Minister Imran Khan on May 31 turned down a proposal by the Oil and Gas…

Read More

The oil & gas industry is seeing an increase in artificial intelligence (AI) investment across several key metrics, according to an analysis of GlobalData data. AI is gaining an increasing presence across multiple sectors, with top companies completing more AI deals, hiring for more AI roles and mentioning it more frequently in company reports at the start of 2021. GlobalData’s thematic approach to sector activity seeks to group key company information on hiring, deals, patents and more by topic to see which companies are best placed to weather the disruptions…

Read More

The oil and gas industry is vast, complex and heavily relies on millions of workers worldwide to keep it moving. The sector has made progress in recent years to better protect workers and tighten up safety standards, which is reflected in the decreasing number of sector-wide fatalities. As a major hazard industry nevertheless, common and health and safety exposures remain. The oil and gas industry is vast, complex and heavily relies on millions of workers worldwide to keep it moving. The sector has made progress in recent years to better…

Read More