The Cabinet Committee on Energy (CCoE) approved the proposal of the Power Division for eliminating the need for generation licences for small-scale Renewable Energy (RE) based systems (up to 25 kW) for net metering. A meeting of the CCoE was held under the chairmanship of the Federal Minister for Planning, Development and Special Initiatives Asad Umar, Friday. The Petroleum Division…
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The Board of Directors (BoD) of the Pak-Arab Refinery Company Limited (PARCO) has appointed Irteza Qureshi as the new deputy managing director (DMD) in the country. The refinery is a joint venture between Pakistan and UAE. Qureshi will assume charge of his office during the first week of Sept 2021. He is currently working in Oil and Gas Development Company…
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Pakistan State Oil (PSO) here on Friday got the highest-ever bid from the Qatar Petroleum (QP) Trading at 34.6688 percent of the Brent that translates into $25.30 per MMBtu for spot LNG cargo required to be delivered for September 16-17. The state-owned entity also received the bid price from VITOL at 24.5456 percent of Brent, meaning $17.91 MMBtu for the…
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Pakistan is considering different options for arranging foreign exchange from global creditors to ease the burden on country’s foreign currency reserves and kick off work on the $2.5 billion Pakistan Stream Gas Pipeline (PSGP) project. A meeting of the Cabinet Committee on Energy (CCOE) was held under the chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar…
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The Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC) are not just limited to Chinese enterprises and all industrial ventures are open for participation by the third countries as well, said Board of Investment (BOI) Secretary Fareena Mazhar. Speaking virtually at the Belt and Road Investment Promotion Conference held at Ningxia Hui Autonomous Region, China on Friday, she…
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Minister Imran Khan on Friday welcomed the $85 million investment through Series B financing — the largest single private funding round in Pakistan’s history — in Airlift, a Lahore-based online shopping delivery service. Series B financing is the second round of funding for a company that has met certain milestones and is past the initial startup stage. “We welcome the…
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The Cabinet Committee on Energy (CCoE) on Friday asked the Petroleum Division to resubmit in its next meeting the draft of the Pakistan Oil Refinery Policy 2021 for approval after detailed deliberation and consensus with the stakeholders. The CCoE headed by the Federal Minister for Planning, Development and Special Initiatives Asad Umar, however, approved Power Division’s proposal seeking elimination of…
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