Month: June 2021

Karachi Chamber of Commerce and Industry (KCCI) has said disruption in gas supplies to Karachi-based industries was inflicting an estimated loss of $44 million to the national exports on a daily basis. The KCCI and its affiliated industrial town associations said gas supply disruptions since June 11, 2021 have crippled industries and halted production. KCCI spokesman said the supply of gas has been closed in the name of annual turnaround (ATA) of Kunnar Pasaki field. Previously, such disruption was caused due to ATA of Gambat field. All such ATA /…

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The much-awaited legal opinion of the Law Division that has been submitted with the authorities concerned is not in favour of postponement of the dry docking of existing floating storage and regasification unit (FSRU) Exquisite at the Engro LNG Terminal till August, rather it is in favour of Excelerate Energy, which is a US company and owner of the FSRU. The government wanted the EETPL to defer the dry docking till the month of August. The viewpoint of FSRU owner company was: “The certification by the Class Society is going…

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Pakistan Water and Power Development Authority (WAPDA) today awarded contract amounting to US$ 241.1 million for electro-mechanical (E&M) works of the 1530 MW-Tarbela 5th Extension Hydropower Project to a joint venture comprising Harbin Electric International Company and Harbin Electric Machinery Company (HEIC-HEMC) through an international competitive bidding. The ceremony for signing of the contract was held today at WAPDA House, Lahore. The E&M contract was signed by Tarbela 5th Extension Hydropower Project Director (PD) Muhammad Azam Joya and HEIC-HEMC Vice President Zhang Yulong on behalf of their organizations. WAPDA Chairman…

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The Federal Reserve Bank of Dallas has released its Q2 2021 Energy Survey, and one thing is clear: oil and gas companies are struggling to find investors. The new report included special questions about expectations for a global crude oil gap, current and expected investments in renewables by oil and gas firms, and more. Oil and gas executives who responded to the survey noted that this sector “continued to grow strongly” in Q2 2021. However, two comments stood out. “We have relationships with approximately 400 institutional investors and close relationships with…

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The Islamabad Electric Supply Company (Iesco) has lifted the ban on new connections in the federal capital and asked the Capital Development Authority (CDA) to share details of acquired and un-acquired land with it. However, the company said houses in illegal housing schemes will not be provided new connections. New utility connections were banned in Islamabad in 2016 on the recommendations of the CDA which linked it with a non-objection certificate (NOC) to be issued after approval of a building plan. A notification issued by Iesco on June 22 stated…

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