Day: October 11, 2021

In Sindh, the 330-megawatt Thar Energy Limited Power Project Block-II is being completed under China-Pakistan Economic Corridor or CPEC. According to an official, the power plant would supply electricity to the national grid under a 30-year power purchase agreement. According to APP news agency, the power plant is a 330MW mine-mouth lignite-fired power project being built by Thar Energy, which is owned by the Hub Power Company or Hubco, China Machinery Engineering Corporation or CMEC and Fauji Fertilizer Company or FFC. Similarly, two more coal-fired power plants, Engro Thar Block…

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Wood Mackenzie’s Global Energy Summit Upstream Focus Day has addressed some of the biggest issues facing the industry. How will the upstream industry use an incoming US$1 trillion price windfall? Should Asian governments be doing more to resuscitate declining gas production? And what is the future for exploration in this region?  In previous upcycles the pattern has tended to be the same – higher revenues and cashflow lead to rising upstream spend. But the energy transition has upset the outlook for oil and gas producers, changing the rules of the…

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A dignified ceremony was held today at Murat Bey Customs Post in Istanbul to mark the arrival of the first two National Logistics Company (NLC) trucks carrying goods from Pakistan to Turkey, via Iran, under the Transports Internationaux Routiers (TIR) convention.  The NLC trucks departed from Karachi on 28th September and reached Istanbul on 7th October covering a distance of 5300 Kilometers.  Senior officials of the Turkish Ministry of Transport and Infrastructure, Ministry of Trade, Chamber of Commerce & Commodity Exchanges of Turkey (TOBB), International Road Transport Union (IRU), ECO Secretariat, Transport…

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Construction industry’s boom provides tremendous opportunity for Turkish companies to invest in Pakistan: Turkey’s Consul General Karachi: The boom in the construction industry of Pakistan provides an excellent opportunity for prospective Turkish investors to invest and launch joint ventures with Pakistani businesses.This was stated by Turkey’s Consul General in Karachi, Tolga Ucak, while speaking as the chief guest at the launching ceremony of the Turkish company, Beta Electric, here at a hotel.  The ceremony was also addressed by Honourary Consul General of Yemen, Mirza Ikthiar Baig, Chairman of Consumers’ Association…

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Pakistan’s oil consumption is gradually getting back to normal pre-Covid lockdown levels as economic activities regain momentum and international prices are again rising amid supply limits maintained by oil-exporting countries and other supply chain problems. Since May, global prices of Brent have surged by almost one-third (32 per cent) to $82 per barrel although forecasts by the US Energy Information Administration average $62 per barrel in 2021 and $60 in 2022 against the International Monetary Fund’s (IMF) projections of about $60 per barrel in 2021 and slightly above $56 in…

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