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…
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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…
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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…
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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…
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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.…
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Japan’s parliament elected Fumio Kishida to serve as the country’s Prime minister. The new prime minister is scheduled to dissolve parliament next week and call for elections on October 31. The Japanese parliament announced the selection of Fumio Kishida as the new head of the Japanese government, after the entire previous government, led by Prime Minister Yoshihide Suga, resigned. Fumio…
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Waning foreign direct investment has not been the only concern for the hydrocarbon exploration and production sector; local investors have also been weary because of the decline in domestic production of hydrocarbons and smaller discoveries – of both crude and natural gas – amid falling reserves. And this could very well be a disincentive for foreign investors.
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China has announced in international fora that it won’t finance any coal power plant project outside of China anymore. This has sent shockwaves among stakeholders in Pakistan, who were counting on technology and finance from China to utilise the huge Thar coal deposits of 185 billion tons. China has already built a 660-megawatt power plant in Thar and is in…
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According to a recent report released by PRIME, state-owned electricity distribution companies (DISCOs) have caused a cumulative loss of Rs1,355 billion over the last five years. This includes the loss due to failure in bill recoveries (Rs495 billion), financial loss due to transmission and distribution loss (Rs195 billion), and tariff differential subsidy (Rs708 billion) over 2016-2020. This should not be…
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In a new development, the name of Haroon Rashid is being tipped as new Special Assistant to Prime Minister (SAPM) on Petroleum as the government’s top decision makers have invited him to Islamabad for interview purposes. Top sources, who are privy to the development, told The News that Haroon Rashid being Energy business leader with extensive global experience has also…
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