Month: August 2021

Saudi Aramco joins local 1.5 GW solar project with a 30% stake in renewables push

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Saudi Aramco is investing, alongside the country’s sovereign wealth fund and Riyadh-based ACWA Power, in the oil exporter’s largest solar project with a capacity of 1.5 GW as the world’s biggest energy company makes a push into renewables. The Saudi Aramco Power Co., a unit of the parent company, has joined ACWA Power and the Water & Electricity Holding Co., or Badeel, owned by the Public Investment Fund, by acquiring a 30% stake in the special purpose vehicle Sudair One Renewable Energy Co., ACWA Power said in an Aug. 15…

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CPEC to ensure development of Balochistan, country: Sanjrani

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Successful completion of the China-Pakistan Economic Corridor (CPEC) projects will bring development and prosperity for Balochistan and the whole nation. Senate Chairman Sadiq Sanjrani expressed these views while addressing a 100-member delegation of students from seven districts of Balochistan here at Parliament House on Sunday. He said that Balochistan is on the path of development and prosperity. “Development of Gwadar is imperative for the prosperity of the country,” he said, adding that the people from all over the country would come to Balochistan for economic activity, and “this province will…

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Pakistan calls on Afghan leaders to cooperate and address evolving situation in Afghanistan

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The spokesman added that his country constantly affirms that a political solution is “indispensable” to resolving the situation and that Pakistan will continue to play its constructive role in promoting this goal, explaining that Pakistan continues to “closely follow the rapid developments of the situation.” current in Afghanistan. The Taliban announced the end of the war in Afghanistan after seizing the presidential palace in the capital, Kabul yesterday, while a number of foreign countries rushed today to evacuate their citizens amid chaos at the airport, while Afghans are searching for…

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Power and gas: ECC may extend concessional tariffs to industry today

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The Economic Coordination Committee (ECC) of the Cabinet which is scheduled to meet on Monday (Aug 16) is expected to extend concessional tariffs of electricity and gas for industry including export-oriented sectors, well-informed sources told Business Recorder. The meeting to be presided over by Finance Minister Shaukat Tarin will approve continuation of RLNG to export-oriented industry at $6.5/MMBTU including Karachi and cents 9 per unit for electricity. Previously, the tariff for export-oriented industry was cents 7.5 per unit. The ECC will also extend flat electricity tariff to industrial consumers across the…

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Stranded LNG tanker towed to Karachi

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Pakistan Maritime Security Agency (PMSA) towed in a stranded LNG carrier to Karachi Port on Saturday from Keti Bandar where it was stranded due to technical issues since August 5. According to a PMSA press release, the agency had received a distress message an August 9 from GAS YODLA, with 17 crew members onboard was anchored 15NM off Keti Bandar on August 5. The ship had lost its propulsion due to machinery breakdown and was also reported low on fuel, water and provisions. Accordingly PMSA Ship PMSS SABQAT was tasked…

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