Year: 2021

Kuwait Ports plans region’s first city for electric car makers

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Kuwait Ports Authority (KPA) has approved a proposal to build the Middle East’s first city to serve electric vehicle manufacturers, the authority said in a statement on Sunday. The statement does not make clear where the project, called EV City, will be located. The design and construction tendering process will be during the 2011/22 fiscal year, said KPA’s General Manager Yousef al-Abdullah al-Sabah. KPA noted that electric car makers do not use local distributors or dealers and sell their vehicles directly to consumers, adding that it was common for ports…

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Are E&P charms returning?

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With oil and gas exploration and production flows weakening over the few years, reserves running dry, and discoveries remaining small and insignificant, FY20 was a weak link in for the sector not only due to the pandemic but also extreme volatility in oil prices to a point that they turned negative. them. Overall, oil production declined by 14 percent year-on-year, while gas production which fell by 8 percent year-on-year in FY20. The oil and gas exploration and production sector has also been facing liquidity constraints where companies have been facing…

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Made in Pakistan’ EVs to be launched soon

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Overseas Pakistanis have developed a ‘Made in Pakistan’ electric car that will be unveiled in the next three to four months. In a first, Pakistan is all set to roll out its first electric car manufactured by DICE Foundation, a group of Pakistanis based in United States, Canada and the United Kingdom, aimed at showcasing expertise of overseas Pakistanis in the field of technology. The project is one of the four mega projects run by DICE. DICE Foundation Founder and Chairman Dr Khursheed Qureshi told The Express Tribune that Pakistan…

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Pakistan purchases four LNG cargoes at highest-ever prices since 2015

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The government has procured four liquefied natural gas (LNG) cargoes at the highest-ever rates at $15.19-$15.49 per mmBtu for the month of September. The state-owned Pakistan LNG Limited (PLL) first cancelled the tender of eight cargoes for September and October, arguing that the rates were higher at $13.78 per mmBtu, but now it has procured four cargoes at the highest-ever rates. The PLL went for a closed tender for the month of September and managed to get the rates for four LNG cargoes at over $15 per mmBtu, which are…

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