Aramco’s Giant Gas Field Jafurah Could Replace 500,000 bpd of Saudi Oil: CEO

Saudi Arabia’s oil giant Aramco has announced the start of its development of its Jafurah unconventional gas field in a press event on Monday.  The company’s chief executive officer, Amin Nasser, said the field, which it claims to be the largest in the world, could replace 500,000 barrels per day of oil production “at its peak.” The project comes amid global pressure to transition to cleaner sources of energy, following major climate change-focused events in recent months.  “This breakthrough in unconventional gas could not come at a better time for…

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Rescue 1122 Advises not to use Gas Compressors During Winter

Rescue 1122 has appealed to the public use gas appliances carefully to avoid unpleasant accidents. An official of the Rescue 1122 said due to prevailing crisis of gas shortage the people indulge in using alternate measures like using cylinder, compressor in their houses. It has been noted that many residents use fridge compressor to suck in more sui gas to increase its flow. In the past, a number of the cases have been reported in which precious lives were perished and millions of rupees burnt to ashes due to carelessness…

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Gas Loadshedding in Lahore Increases

The complaints of gas outage and low pressure have been on the rise in different parts of the provincial metropolis. Besides, gas cuts in densely-populated areas force the citizens to use the LPG, wood and coal or bring food from the bazaar, which are all costly alternatives. As the complaints of low or no gas have become a new norm, the citizens in many parts of the city are left with no option but to use the costly alternative for cooking and heating purposes. Due to the non-availability of gas,…

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SBP’s Informed Perspective

State Bank of Pakistan’s (SBP’s) annual report on Pakistan’s economy 2020-21 claims that growth rebounded to 3.9 percent last fiscal year accompanied by a 10-year low current account deficit that built up foreign exchange reserves, an edging down of fiscal deficit despite Covid-19 leading to improved debt-to-GDP ratio and easing of consumer price index due to stable core inflation constituting non-food and non-energy prices. The growth rate doubled from the projected 2 percent last fiscal year with current account deficit projected at negative 1.2 percent of GDP and this was…

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Pakistan Pavilion at Dubai Expo 2020: A ‘Magnet’ for Investors and Tourists Alike

At the sprawling Expo 2020 Dubai, a cultural tour de force known as the Pakistan Pavilion has been quietly drawing global attention. It is among the pièces de résistance of the Opportunity District – a fitting location for a country that shows great promise as a magnet for tourists and investors. Themed as ‘Pakistan: The Hidden Treasure’, the pavilion cost $28.72 million to build and spreads across 35,000 square feet. “Through this theme, we’re not only highlighting our potential in terms of the tourism industry but also showcasing its people…

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Iran, Azerbaijan, Turkmenistan Sign Agreement On Gas Swap, Iranian Media Report

Iran, Azerbaijan, and Turkmenistan have signed a trilateral gas swap deal for up to 2 billion cubic meters per year, Iranian media reported. The agreement was signed on November 28 in the Turkmen capital, Ashgabat, on the sidelines of a regional economic summit. Under the swap deal – which boosts an existing agreement – Iran will receive gas from Turkmenistan and deliver the same amount to Azerbaijan, Iranian Oil Minister Javad Owji told Iranian state media. “Turkmenistan will sell 5-6 million cubic meters of gas per day to Azerbaijan under…

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Deregulating Fertiliser Industry

Engro Fertilizers Chief Financial Officer (CFO) Imran Ahmed has more than 20 years of diversified work experience in leadership and management positions in large firms in Pakistan and abroad. He recently spoke with Dawn on issues relating to deregulation of the fertiliser industry and the development of an effective mechanism for providing direct, smart subsidy to the small farm holder, and how these policy changes will benefit the stakeholders: small farmers, urea producers, government, and on and on. “There’s a perception in the market that urea manufacturers are profitable because they get…

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Moving Towards a Bilateral-Contracts Electricity Market

It was the advent of independent power producers (IPP) two decades ago that led to the branching of the Water and Power Development Authority into independent transmission and distribution entities. A much larger transformation is about to take place in the form of the competitive trading bilateral contracts market (CTBCM), which will herald the start of a fully competitive electricity market in Pakistan. Expected to be launched in early 2022, the CTBCM will allow the suppliers and consumers the freedom to enter into direct contracts with one another as the…

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Cheap Gas and the Fertiliser Sector

In 2013, this writer wrote an article titled “Cheap gas and expensive fertiliser”. As the title implies, it seems to be related to the current situation as well. Some 85% of the cost of fertiliser production or more goes to the gas cost. High profits in the fertiliser sector are indicated by the earnings per share (EPS) of major companies that have risen to Rs13. Cheap gas, uncontrolled prices and taxation loopholes and changes provided such high profit opportunities. Fertiliser is on the agenda of the government these days and…

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Sindh Energy Minister Imtiaz Sheikh Strongly Condemned the Closure of CNG Sector and Industries

Sindh Energy Minister Imtiaz Sheikh condemned stopping the gas supply to CNG sector and industries and said that after cooling the stoves, the federal government jammed the wheels of industries also.Sindh Energy Minister said that stopping the gas supply to CNG sector will boost the unemployment across Sindh and thousands will lose their jobs.He said that the federal government is constantly abusing Sindh over the issue of natural gas, while the largest gas-producing province has been deprived of gas. He said that the decision by federal government to stop gas…

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