Day: November 15, 2021

The Ministry of Energy has asked the Oil and Gas Regulatory Authority (Ogra), gas utilities and the sponsors of two upcoming LNG terminals to proceed with the execution of a gas transportation agreement (GTA), but a lower allocation of firm pipeline capacity has worried investors. In a letter issued on November 12, the energy ministry (petroleum division) has notified that based on a summary of the Ministry of Maritime Affairs, the Cabinet Committee on Energy (CCoE) had on October 8 “approved the proposal of the petroleum division presented in the…

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The Cabinet Committee on Privatisation (CCoP) is likely to approve the scheme of debt re-capitalization and refinancing of two RLNG-fired plants though local banks amounting to Rs 110 billion before sale of equity in its forthcoming meeting, well informed in Power Division told Business Recorder. Both Haveli Bahadar Shah and Balloki Power plants, owned by National Power Park Management Company (Private) Limited (NPPMCL), were set up with Government of Pakistan’s (GoP) funding equity instead of the 70:30 debt-to-equity ratio benchmark allowed in Nepra’s tariff for NPPMCL’s power plants. Therefore, in order…

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Chief Representative of National Bank of Pakistan (NBP) in China, Shaikh Muhammad Shariq said that his bank is ready to facilitate the Chinese companies to relocate their businesses and industrial units to Pakistan under the China-Pakistan Economic Corridor (CPEC) framework. “As we are about to enter into the second phase of CPEC, which is more focused on industrial cooperation, we are again ready to facilitate the Chinese companies to relocate in Pakistan”, he said while addressing Pakistan-China Economic and Business Forum. The forum was recently organized by Pakistan Embassy, Beijing,…

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Held under the patronage of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and hosted by the Abu Dhabi National Oil Company (ADNOC), this year’s ADIPEC – the global energy industry’s largest, most important and influential event – returns to Abu Dhabi from 15th – 18th November to offer face-to-face meetings for the energy industry following the challenges of COVID-19. Taking place immediately after COP26, ADIPEC 2021 will be the first global energy forum to examine the key outcomes of the UN climate meeting and how they will shape…

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Sui Southern Gas Company Limited (SSGC) on Sunday refuted reports circulating on social media that it has issued a schedule for the provision of gas amid an expected shortage in Pakistan in the winter months. Referring to a picture circulating on social media, the SSGC clarified that the information being attributed to SSGC is “fake news”. “A post is being shared on social media listing down a ‘Gas Schedule’ and attributing the information to SSGC. Please note this is fake news and SSGC has nothing to do with it. If…

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