February 24, 2022 -

ramco closes $15.5bn gas pipeline deal with BlackRock, Hassana, other global investors

February 24, 2022February 24, 2022 Admin

Aramco and an international investor consortium, led by affiliates of BlackRock and Hassana, announced today the successful closing of $15.5 billion gas pipeline deal. The investors has acquired 49-percent stake in Aramco Gas Pipelines Co., a subsidiary of Aramco, according to a statement. Aramco retains the 51-percent majority stake in the company, and also retains full ownership and operational control…

PM Imran arrives in Moscow on two-day visit to advance gas pipeline project

February 24, 2022February 24, 2022 Admin

Prime Minister Imran Khan arrived in Moscow late on Wednesday on a two-day visit to push for the construction of a long-delayed, multi-billion-dollar gas pipeline to be built in collaboration with Russian companies. Russia’s Deputy Foreign Minister Igor Morgulov welcomed the prime minister upon arrival in Moscow. He was also presented with a guard of honour. The prime minister’s trip…

Cement manufacturers, industries: SC rejects stay order plea against CCP orders

February 24, 2022February 24, 2022 Admin

The Supreme Court turned down the request of cement manufacturers and other industries to grant a stay against the Competition Commission of Pakistan (CCP)’s orders. A three-judge bench, headed by Justice Maqbool Baqir, on Wednesday heard appeals of various industries, mostly the cement producers, against the Lahore High Court (LHC) and the Islamabad High Court (IHC)’s verdicts. Attorney General for…

Pakistan to penalise defaulting LNG supplier

February 24, 2022February 24, 2022 Admin

Pakistan LNG Limited (PLL), which will now purchase one spot LNG cargo at a higher price of $25.12 per MMBTU to be delivered on March 10-11, has made up its mind to impose a monetary penalty on Italy based LNG term supplier ENI, which is the 30 percent of the term cargo. The PLL will impose the penalty on ENI…

World oil price hike may cause impact on domestic prices: Ogra chief

February 24, 2022February 24, 2022 Admin

Chairman Oil and Gas Regulatory Authority (OGRA) Masroor Khan on Wednesday said the petroleum prices internationally were continuously increasing and result may impact on hike in petrol price domestically from March 1. The National Assembly (NA) Standing Committee on Petroleum held a meeting. In response to a question about the shortage of LNG, the Secretary Petroleum said that two of…

NA body approves Petroleum Division’s budgetary proposals

February 24, 2022February 24, 2022 Admin

2022: The National Assembly’s Standing Committee on Energy on Wednesday approved scrutiny of the Petroleum Division’s budgetary proposals for the Public Sector Development Programme (PSDP 2022-23) unanimously. The committee meeting, chaired by MNA Imran Khattak, also took up two government bills. It passed “the Petroleum (Amendment) Bill, 2021” with certain drafting corrections, and deferred “The Pakistan Petroleum Upstream Regulatory Authority Bill, 2022”…

Underprivileged’ employees of federal govt to get disparity allowance

February 24, 2022March 26, 2023 Admin

Federal government employees from BPS 1 to 19 grades will now get a disparity allowance from March 1, except those who are already getting extra allowances. In this regard, the government on Wednesday notified 15 per cent Disparity Reduction Allowance (DRA) on the running basic pay to the “underprivileged employees” up to grade 19. The government announced the DRA earlier…

K Electric seek increase of PKR 3.406 per unit for the month of January 2022: NEPRA

February 24, 2022February 24, 2022 Admin

As per the details, K-Electric has requested an increase of PKR 3.406 per for January under fuel charges adjustment and negative adjustment of PKR 0.302 per unit for the second quarter of fiscal year 2022 (October 2021 to December 2021).