Day: November 5, 2022

In a major development, Pakistan and the UAE have decided to enter into a GtG long-term agreement for the import of petrol, jet fuel and crude oil to ensure sustainable availability of petroleum products in the country and both countries would soon sign an IGA (Inter-governmental agreement).https://googleads.g.doubleclick.net/pagead/ads?client=ca-pub-7369466212570555&output=html&h=280&slotname=6796042982&adk=1203330148&adf=1013936880&pi=t.ma~as.6796042982&w=700&fwrn=4&fwrnh=100&lmt=1667672427&rafmt=1&format=700×280&url=https%3A%2F%2Fe.thenews.com.pk%2Fdetail%3Fid%3D144758&fwr=0&fwrattr=true&rpe=1&resp_fmts=3&wgl=1&uach=WyJXaW5kb3dzIiwiMTAuMC4wIiwieDg2IiwiIiwiMTA3LjAuNTMwNC44OCIsW10sZmFsc2UsbnVsbCwiNjQiLFtbIkdvb2dsZSBDaHJvbWUiLCIxMDcuMC41MzA0Ljg4Il0sWyJDaHJvbWl1bSIsIjEwNy4wLjUzMDQuODgiXSxbIk5vdD1BP0JyYW5kIiwiMjQuMC4wLjAiXV0sZmFsc2Vd&dt=1667672427241&bpp=3&bdt=581&idt=77&shv=r20221101&mjsv=m202211010101&ptt=9&saldr=aa&abxe=1&cookie=ID%3Ddce5cfc23e563877-22c5defc93d60074%3AT%3D1661970748%3ART%3D1667671621%3AS%3DALNI_MZXkh07nnjrl2180C5QcBwf3g9deQ&gpic=UID%3D00000aac0be7592c%3AT%3D1661970748%3ART%3D1667671621%3AS%3DALNI_MZG0NNTS78RtPPluG6dAJqMpr0OMA&prev_fmts=0x0&nras=1&correlator=2634427464875&frm=20&pv=1&ga_vid=1599331109.1666292316&ga_sid=1667672427&ga_hid=1402267512&ga_fc=1&u_tz=-420&u_his=1&u_h=768&u_w=1366&u_ah=728&u_aw=1366&u_cd=24&u_sd=1&dmc=4&adx=325&ady=418&biw=1349&bih=600&scr_x=0&scr_y=0&eid=44759876%2C44759927%2C44759837%2C42531706%2C44777508%2C31070696%2C44770881%2C44775017%2C21066430%2C31060048&oid=2&pvsid=2580789940348446&tmod=1139768366&uas=0&nvt=1&eae=0&fc=1920&brdim=0%2C0%2C0%2C0%2C1366%2C0%2C1366%2C728%2C1366%2C600&vis=1&rsz=o%7C%7CeE%7C&abl=CS&pfx=0&fu=128&bc=31&ifi=2&uci=a!2&fsb=1&xpc=TKWVkdG4K2&p=https%3A//e.thenews.com.pk&dtd=86 Pakistan would import 1.5 million tons of Motor Spirit (Mogas) i.e. 30 cargoes in one year under a 5-year deal, which means that PSO would import two and a half to three cargoes a month. To this effect, on behalf of Pakistan, the…

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The digital has been named as WALI, abbreviated for WANG Laboratory of Innovation. SSGC facilitated WANG in constructing a fully furnished cemented block room with provision of complete electrical work. The room features branded computers, laser jet printer, air conditioner and complete furniture set with wooden chairs and tables in addition to all-inclusive solar system along with UPS invertor, a statement from SSGC said. The formal inauguration of the digital computer lab was done by SSGC’s head of corporate communications, Salman Ahmed Siddiqui, during a ceremony organised by WANG. Speaking…

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The ceremony also included Shell Tameer Awards 2022, a nationwide contest to recognise talented young entrepreneurs in the country, the company said. Over 250 applications were received for the awards program and 30 finalists were shortlisted in six award categories. The finalists presented their pitches to an expert jury of diverse professionals who selected the year’s winners and runners-up in each of the six award categories, it added. Speaking on the occasion, chief executive and managing director of Shell Pakistan Limited, Waqar Siddiqui said, “Shell Pakistan has been here since…

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The supply of expensive liquefied natural gas (LNG), during the past four seasons, to domestic consumers has resulted in a steep hike in circular debt, trapping gas-utilities and Pakistan State Oil (PSO). The gas sector is currently facing circular debt of Rs1.5 trillion, with LNG being the major contributing force. Additionally, captive powerplants and fertiliser plants have been receiving gas at discounted rates which has also contributed significantly to the ballooning of circular debt. PSO, which is a key importer of LNG from Qatar, supplies the commodity to gas-utilities which…

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Pakistan Oilfields Ltd (POL) said on Friday production from the Tolanj West-2 well has started “significantly ahead” of the original plan. Earlier, the company announced on Aug 16 and Aug 25 the testing results of Tolanj West-2 well. It said at the time that production from the well was expected to start from December 2022. “However, with the best efforts of our technical teams, wellhead surface facilities and tie-in activities have been completed successfully and hydrocarbon production from the well has commenced,” it said. The well is currently producing 13.97…

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