Day: June 21, 2021

Pakistan and the IMF have so far failed to narrow down their differences, so both sides have decided to put completion of the sixth review under the $6 billion Extended Fund Facility (EFF) on hold for the next few months, it has been learnt. Pakistan and the IMF authorities could not evolve a consensus on the staff-level agreement, so the completion of the sixth review under the EFF was put on hold till September 2021. The IMF Board was scheduled to take up approval of 6th review by July this…

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Prime Minister Imran Khan has said that Dasu hydropower project is one of the projects which will immensely benefit the country by giving 1200 billion units of electricity upon completion by 2028. In a tweet with a video clip of project briefing, the Prime Minister expressed the confidence that during the decades of dams which began in 2018, all projects will be completed. He said Dasu Hydro Power Project which is the most significant one will add 1200 billion units of electricity and it will guarantee environmental conservation besides economic…

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China has discovered a pair of new deposits containing roughly two billion tons of shale oil and gas, according to the state-controlled energy giant China National Petroleum Corporation (CNPC). One of the wells was discovered in the Fuman oilfield – a major region for crude oil production in the Tarim Basin, in northwest China’s Xinjiang Uighur Autonomous Region. It reportedly contains a billion tons of super-deep oil and gas. With a drilling depth of nearly 27,900 feet (8,500 meters) and a test oil column reaching 1,640 feet (550 meters), the…

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After taking the opinion of the Law Division, the Cabinet Committee on Energy (CCOE) will decide whether to delay the shutdown of the Engro LNG Terminal or to continue operations, within 72 hours, the Secretary Petroleum, Dr. Arshad Mehmood, informed a local media outlet. This is the standard process of the LNG terminals, whereby the FSRU is taken to the service yard and brought to dry land. This is done to clean and inspect the submerged portions of the hull. Dry docking is essential as a preventative measure and is…

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The Cabinet Committee on Energy (CCOE) will decide in the next 72 hours to either delay shut down of Engro LNG Terminal by pending the dry docking of FSRU (Floating Storage Regasification Unit) for one and a half or two months or go as per plan after having opinion of Law Division, Secretary Petroleum Dr Arshad Mehmood, told The News. Dry-docking is the process under which FSRU is taken to the service yard and brought to dry land, so that submerged portions of the hull can be cleaned and inspected.…

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