Pakistan is reviewing a proposal to receive upfront 20% of the total cost of five China-Pakistan Economic Corridor (CPEC) projects as deposits in the central bank in a bid to get breathing space amid declining foreign exchange reserves. The proposal has been discussed at the highest level as the prime minister has given instruction to further fine-tune it, a cabinet…
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The African region has gained significant attention recently for its burgeoning oil and gas industry, with new oil-rich states across Africa hoping to meet the continued global demand for fossil fuels. However, several African countries are also developing green energy strategies and investing in renewables. The African Union is expected to present a five-page document highlighting the benefits of developing the region’s oil…
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Russia held its spot as China’s top oil supplier for a third month in July, data showed on Saturday, as independent refiners stepped up purchases of discounted supplies while cutting shipments from rival suppliers such as Angola and Brazil. Imports of Russian oil, including supplies pumped via the East Siberia Pacific Ocean pipeline and seaborne shipments from Russia’s European and…
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Heatwaves this summer and expected natural gas shortages this winter are driving gas prices higher and higher. Europe’s benchmark gas prices surged by 14% in just three days to a fresh record-high, continuing the upward trend from recent weeks, as gas demand for power generation is high amid heatwaves and Russian pipeline supply remains at low levels, while the EU…
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The coalition government has carved out a multi-pronged strategy to increase the supply of LNG in the country’s system in the coming winter season under which it has allowed the existing terminals to use their excess capacity for importing the gaseous fuel to cater to the country’s needs, The News has learnt. “This government action will change Pakistan’s LNG scenario…
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Sui Southern Gas Company (SSGC) on Saturday restored gas supply to Quetta and other parts of the province. Gas supply was suspended to Quetta, Mastung, Qalat, Pishin, Ziarat and some other areas of the province after the 24-inch wide gas pipeline passing under the riverbed was washed away by floodwater in Bibi Nani area on Friday. “Gas supply has been…
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ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has extended the ban on the use of LPG as fuel in public transport and letters have been issued to all chief secretaries of the provinces. Liquefied Petroleum Gas (LPG) as fuel in public transport is the reason behind blasts which continue unabated despite a ban imposed by the OGRA. On December…
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Directorate General of Customs Valuation Karachi has fixed US$140 Per Metric Ton (PMT) as the import value of Afghan-origin coal imported into Pakistan via land-borders Custom stations. In this connection, the directorate has issued new valuation advice to the Collectors of Customs, Appraisement (Peshawar), Enforcement (Peshawar) & Enforcement (Dera Ismail Khan) Khyber Pakhtunkhwa (KP). According to the valuation advice, the…
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The federal cabinet on Saturday approved big changes in the Liquefied Natural Gas Policy, 2011 ahead of Prime Minister Shehbaz Sharif’s visit to Qatar. According to sources, the federal cabinet’s approval for making big changes in the LNG Policy, 2011 were taken on an emergency basis through a circulation ahead of PM Shehbaz’s visit to Qatar. Sources said that the…
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The Federal Cabinet has approved changes to the Liquefied Natural Gas (LNG) Policy 2011 ahead of Prime Minister Shehbaz Sharif’s visit to Qatar. According to sources, the federal cabinet has approved the summary through circulation on an emergency basis as Prime Minister Shehbaz Sharif is scheduled to visit Qatar next week. Media reports said that the cabinet approved the changes…
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