Day: July 12, 2021

The Petroleum Division, during the current fiscal year, would initiate a new project to compile the data of available minerals for facilitation of investors and future projects’ planning in the country. The two-year project, titled National Minerals Data Centre (NMDC), is a joint venture of Petroleum and Planning Divisions that would be carried out at a total cost of Rs 295 million in consultation with all Provincial Mines & Minerals Departments including of Gilgit-Baltistan, Azad Jammu and Kashmir and Geological Survey of Pakistan. “Pakistan has world-class minerals’ resource potential but…

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Spot prices for liquefied natural gas (LNG) in Asia fell this week as demand from end-users was hampered and suppliers offered more cargoes. The average LNG price for August delivery into Northeast Asia LNG-AS was estimated at about $12.55 per metric million British thermal units (mmBtu), down $1.45 from the previous week, trade sources said. The price for a cargo delivered in September is estimated to be about $12.75 per mmBtu, they added. “The market was overheated and there was a lot of optimisation but no real end-user buying… so…

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The Petroleum Division has ‘technically’ completed 90 per cent work on dualization of the White Oil Pipeline (WOP), from Karachi to Mehmood Kot section, for smooth supply of petrol and diesel to Oil Marketing Companies (OMCs) and reducing reliance on the traditional mode of transportation through tankers. “Currently 90% project has been technically completed, while testing and commissioning is planned from September 2021,” a senior official privy to petroleum sector developments told APP. The pipeline, he said, that was previously used to move only diesel from Karachi to Mehmood Kot…

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The National Vocational and Technical Training Commission’s (NAVTTC) initiative for establishing job placement centres with dedicated resources is linking Pakistani skilled workforce with employers in both national and international job markets. In addition to this, 104 Job Placement and Vocational Counseling Centres (JP&VCCs) have been established across the country for the benefit of youth; NAVTTC Chairman Syed Javed Hassan said this while talking to APP. He said that skill profiles of more than 570,000 Pakistani youth were available on this job portal. NAVTTC was providing free of cost facility to…

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BEIJING: China-Pakistan Economic Corridor (CPEC), as the signature project of the Belt and Road Initiative (BRI), has achieved remarkable results in the first phase of operation. While it enters into a new stage of high-quality development, the establishment of “five corridors” will be enhanced for building a closer China-Pakistan community of shared future, Ning Jizhe, deputy head of the National Development and Reform Commission (NDRC) of China, wrote in his latest article. In line with the principles of extensive consultation, joint contribution and shared benefits, China and Pakistan have set…

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