Month: July 2021

Govt developing integrated plan to fix structural issues in energy sector: Gauhar

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Special Assistant to Prime Minister (SAPM) on Power and Petroleum Tabish Gauhar has said that the government is developing the first-ever Integrated Energy Plan to address various structural challenges in the energy sector. The SAPM tweeted this on Tuesday as detailed consultative sessions on the National Electricity Plan started following the National Electricity Policy 2021 recently approved by the Council of Common Interests (CCI). Gauhar tweeted, “We are also developing Pakistan’s first Integrated Energy Plan (Power & Petroleum), including a transmission & distribution expansion plan, to address various structural challenges…

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Pakistan to enhance energy cooperation with Iran: Hammad

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Minister for Energy Hammad Azhar has expressed the commitment to work for further enhancing energy cooperation with Iran as per the memorandum of understanding (MoU) signed during the recent visit of Prime Minister Imran Khan to Iran. Hammad Azhar said this during a meeting with Ambassador of Iran Seyed Mohammad Ali Hosseini, according to an official statement. Hammad Azhar while underscoring the importance of Iranian electricity import to districts of Balochistan especially Gawadar, said that it is playing a pivotal role in provision of electricity to these areas. He also…

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Socar hopes energy links with Pakistan will flourish

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The State Oil Company of Azerbaijan Republic (Socar) on Tuesday appeared to be back-peddling its diplomatic push for oil and gas deals with Pakistan’s public sector firms under government-to-government arrangement after an aggressive public snub by the Petroleum Division. A Socar spokesman said that various media reports appearing in the last several days did not represent the reality of successful cooperation between state entities of brotherly Pakistan and Socar. As in all sectors of political and economic life, relationships between Pakistan and Azerbaijan in the energy sphere are also built on principles…

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National Minerals Data Centre being set up for investors’ facilitation

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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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GLOBAL LNG-Asian LNG prices drop as buyers pull back

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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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