Month: November 2022

Austrian, Turkish delegates visit NESPAK House, Lahore

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A delegation comprising personnel of Austria-based companies led by Mr. Johannies Brunner, Commercial Counsellor of Advantage Austria visited NESPAK House, Lahore and held a meeting with Dr. Tahir Masood, Managing Director and senior NESPAK officials on Friday. Other Austrian delegates included Mag. Dr. Michael Premstaller from Premstaller Geotechnik, Mr. Florian Krail, Key Account Manager for Large Scale Projects of Doka and Mr. Usman Mohiuddin, Consultant from Advantage Austria. Premstaller and Doca deal in building related large scale projects while Advantage Austria is the trade promotion organisation of the Austrian Federal…

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Chevron committed to grow in Pakistan through a trademark licensing agreement with Be Energy

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Chevron Brands International LLC (Chevron), a subsidiary of Chevron Corporation, has entered into a long-term trademark licensing agreement with Be Energy Limited (BE), marking a return of the Caltex® brand to fuels retailing in Pakistan. Chevron has appointed BE as Chevron’s licensee of the Caltex brand to sell, market and distribute fuel in Pakistan, with a view to grow the Caltex-branded service station network to over 400 retail stations within eight years across the country. Commenting on the agreement, Ahmed Zahid Zaheer, Country Chairman and General Manager of Chevron Pakistan…

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Electricity customers are getting burnt by soaring fuel prices

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electric

The prices of residual fuel oil (RFO), re-gasified liquefied natural gas (RLNG) and coal have increased from 250 percent to 300 percent in just one year, making these expensive for power generation. The price of RFO during the month of September 2022 was Rs172,000/tonne, which was Rs76,000/tonne during the same period of September 2021. Similarly, the price of RLNG was Rs4,000/MMBTU in September 2022, which was Rs1,600/MMBTU during the said period last year, while the price of coal was Rs65,000/tonne in September 2022, which was Rs20,000/tonne in September 2021. Pakistan’s…

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Tap Oil Fields, Not Our Emergency Reserves, To Lower Energy Prices

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oil

Our nation’s Strategic Petroleum Reserve (SPR) is running dangerously low. New statistics released indicate our national emergency oil stockpile, which is intended to protect the United States from unexpected and severe supply disruptions, has hit another historic low. It’s a dangerous point for the United States, and even worse, it’s self-inflicted. With these facts in mind, new reports indicate the Biden administration plans to sell oil from the Strategic Petroleum Reserve to assuage fuel prices, which was on the forefront of the mind of voters in last week’s midterm elections. According to new data released from…

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Deepwater Oil And Gas Production To Grow 60% By 2030

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Deepwater oil and gas production is set to increase by 60% by 2030, to contribute 8% of overall upstream production, according to a new report from Wood Mackenzie, as cited by Rig Zone.  Ultra-deepwater production is set to continue growing at breakneck speed to account for half of all deepwater production by 2030. In the oil and gas exploration and production (E&P) industry, deepwater is defined as water depth greater than 1,000 feet while ultra-deepwater is defined as greater than 5,000 feet. Deepwater production remains the fastest-growing upstream oil and gas…

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