Year: 2021

No Subsidy? Industries Likely to Get Expensive Gas

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The Ministry of Energy has moved a summary to the Federal Cabinet for ending subsidised gas rates for industries, including captive power plants, which would likely increase the prices, Topline Securities reported in a research on Tuesday. Any increase in subsidised re-gasified liquefied natural gas (RLNG) price would significantly impact the Punjab-based textile players such as Nishat Mills Limited (NML) and Interloop Limited (ILP), as a 10 per cent increase in gas prices would impact the bottom-line of these companies by 2 per cent to 5 per cent. “[The] Punjab-based…

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Inauguration of Pakistan Boulevard in Izmir, Turkey

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Pakistan Boulevard’ was inaugurated in Izmir by Mayor Tunç Soyer today. Ambassador of Pakistan in Turkey Syrus Sajjad Qazi, Honorary Consul General of Pakistan in Izmir Cahit Yasar Eren, Mr. Selami Poyraz, President of the Chamber of Commerce Assembly, and Mr. Mahmut Ozgener, President of the Board of Izmir Chamber of Commerce also participated in the inauguration ceremony. Pakistan Boulevard is a 1.5 km long street located in the heart of business and financial district of Izmir.  Ambassador Syrus Sajjad Qazi also visited Pakistan Pavilion in Izmir. Pakistan Pavilion is…

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Senate Democrats urge Biden to consider tapping emergency oil reserves or even ban oil exports to fight high gas prices

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Nearly a dozen Senate Democrats called on President Joe Biden on Monday to fight high gas prices by considering a release of barrels from the nation’s emergency oil stockpile, or even taking the more extreme step of banning oil exports. In the letter, Senators Elizabeth Warren, Sherrod Brown, Jack Reed and others warned that the seven-year high in gas prices has “placed an undue burden on families and small businesses trying to make ends meet.”“In light of these pressing concerns, we ask that you consider all tools available at your…

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China’s Daily Coal Production Reaches Record High Of 11.93Mln Tonnes

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China ramped up its daily coal production to a new high of 11.93 million tonnes as part of the ongoing efforts to resolve the energy crisis in the country, the National Development and Reform Commission (NDRC) of China said on Monday. “Since October this year, coal mining has continued to grow. From November 1-5, the average daily coal production reached 11.66 million tonnes, which is 1.2 million tonnes more than at the end of September. A peak of 11.93 million tonnes was reached, which has become a record high in…

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Intended LNG contracts to double at CIIE, as Chinese SOEs step up energy purchase

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Intended deals at the 4th China International Import Expo (CIIE) on energy products will increase by 22 percent from last year’s event, while intended deals for liquefied natural gas (LNG) will double, according to a senior Chinese official. Ren Hongbin, vice chairman of the State-Owned Assets Supervision and Administration Commission (SASAC), called on state-owned enterprises (SOEs) to take the initiative to secure China’s energy supply and expand international energy cooperation by using the CIIE platform to diversify energy supply sources. Ren revealed that the value of intended contracts of traditional…

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