The Economic Coordination Committee (ECC) of the Cabinet is all set to approve the pact between Pakistan LNG Limited (PLL) and Azerbaijani company, M/s SOCAR/ SOCAR Trading, for import of one LNG cargo monthly, official sources told Business Recorder. Pakistan State Oil (PSO) and Pakistan LNG Limited (PLL) are importing Liquefied Natural Gas (LNG) under long-term LNG supply contracts to minimise…
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Crude oil prices slipped on Tuesday on concerns about a global economic slowdown and an expected build in US oil inventories. Brent futures for March delivery fell $2.06, or 2.3%, to $86.13 a barrel. US crude fell $1.49, or 1.8%, to $80.13 per barrel. US business activity contracted in January for the seventh straight month, though the downturn moderated across…
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The government has planned to instal over 155,700 Advanced Metering Infrastructure (AMI) meters in all of the power distribution companies (DISCOs) by June aimed at reducing power sector losses, enhance quality of billing and recoveries besides addressing consumers complaints of over billing. Official sources told APP here that AMI system would help identify areas of power outage and power losses.…
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After the gas crisis, the Liquified Petroleum Gas (LPG) distributors have announced a four-day strike to protest against the inflated prices, ARY News reported on Tuesday. The LPG distributors announced to observe a strike from January 28 to 31 after the prices of Liquified Petroleum Gas hiked up to Rs300 per kilogram. The distributors announced to halt the supplies due…
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Oil and Gas Regulatory Authority (OGRA) on Tuesday strongly rejected speculations about the shortage of diesel and petrol in the country. Sufficient stocks of petrol and diesel are available across the country,” OGRA spokesperson Imran Ghaznavi clarified in a press statement, after scores of people rushed to pumps and panic-bought the commodity. He said the country had sufficient petrol and…
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Most residents of the city spent a whole night without electricity after enduring a day-long outage on Monday as the fragile transmission and distribution system of the K-Electric remained affected due to a nationwide power breakdown early in the morning. Electricity in almost every part of the city, except a few sensitive installations, played hide-and-seek on Monday night and Tuesday…
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The Dalia offshore oilfield in Angola, which pumps 200,000 barrels per day (bpd), is set to undergo planned maintenance for more than a month beginning on February 20, a spokesperson for the operator of the field, French supermajor TotalEnergies, told Reuters on Tuesday. The maintenance, which is expected to last for 35 days, will significantly reduce oil supply from Angola…
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Norway, Western Europe’s biggest oil and gas producer, is offering up to 92 new blocks for hydrocarbon exploration in the new round of licensing in mature areas, the petroleum and energy ministry said on Tuesday. The proposal from the ministry adds 92 new oil and gas exploration blocks in the Norwegian Sea and the Barents Sea to the best-known areas…
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Things were not meant to go like this as far as Russia and Iran, and indeed China, were concerned, following the invasion of Ukraine on 24 February 2022. Within a week of that date, President Vladimir Putin’s vision ran, Russia would have secured control over its neighbour. In oil and gas terms, this would have meant the continuation and expansion…
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KARACHI: The price of LPG reached the mark of Rs300 per kg on Tuesday across the country, touching a new peak in the history of the country. LPG was available at Rs300 per kg with the price of domestic cylinder increasing by Rs235 to Rs3550 and the price of commercial cylinder climbing by Rs908 to reach a high level of…
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