Day: October 4, 2021

Chairman of National Business Group Pakistan and President Pakistan Businessmen and Intellectuals Forum, Mian Zahid Hussain has said energy crisis is to shrink global GDP, increase poverty and degrade the environment. The global energy crisis is resulting in the increased price of petrol, diesel, gas and coal but coal has seen the highest price surge which is up to 200 percent, he said. He said that the crisis has become a big threat to global recovery but it has also provided a new lease of life to the dying coal…

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Qatar ordered four new liquefied natural gas tankers worth more than 2.8 billion rials ($762 million) from a Chinese shipbuilder, as demand for the fuel booms. State energy firm Qatar Petroleum said Sunday the vessels will be built by Hudong-Zhonghua Shipbuilding Group Co., a subsidiary of China State Shipbuilding Corp. It’s the first time QP has ordered LNG carriers from China. The ships are the first batch of bookings for the company’s North Field expansion project, which will see it spend almost $30 billion to increase its production capacity by…

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Despite clear instructions from the Prime Minister of Pakistan to energy sector stakeholders to ensure that Liquefied Petroleum Gas (LPG) prices remain affordable for the poor, it seems it will still be a long winter for the poorest sections of the society. Sources in the LPG industry are fearing that without immediate intervention of the government the price for this commodity will touch historic highs as already the new prices announced by OGRA for consumers are at Rs2,403 for an 11.8 KG cylinder. Industry experts believe that the government, in…

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An explosive data of offshore companies is set to hit global headlines today (Sunday) other than sending shockwaves through the power centers in Pakistan. The leaked document will uncover the best-kept financial secrets of the rich and powerful of this world while naming names of the current and former leaders of different countries, public officials, billionaires, good and bad guys alike. This treasure trove of information has been named Pandora Papers as this is in furtherance to what has earlier been discovered of the Panama Papers and Paradise Papers. International…

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British Prime Minister Boris Johnson said that the country’s fuel shortage could continue until Christmas, which many analysts had expected. What you have at the moment is a shortage of truck drivers, and the shortage of truck drivers affects the whole world – there’s even a shortage of truck drivers in China” he added, during an interview with BBC News. Fuel had reached a “critical” point in London and southeast England as experts warned of a sharp 5p price hike. Groups of motorists have warned that some independent gas stations…

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