Year: 2023

Pakistan looks to sell its Reko Diq shares to Saudi investors

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Pakistan-Reko-Diq-mine

ISLAMABAD: The federal government is considering selling the shares it holds in the Reko Diq project to Saudi Arabia to attract investment from the gulf state which is keen to become part of this copper-gold project, The News has learnt reliably and confirmed from the relevant officials. Under the revised agreement, 50 percent of shares are held by Canadian company Barrick Gold Corporation whereas Antofagasta of Chile has exited the project in return for $900m deposited by three entities of the federal government – Oil & Gas Development Company Limited,…

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Govt in a fix over gas supply to domestic users in winter

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gas-loadshading

ISLAMABAD: Amid increasing gas demand in winter season, the caretaker regime finds itself on a tightrope as to whether it should inject or divert costly RLNG into domestic sector during winters. A senior official at Energy Ministry told The News that the RLNG injection would increase circular debt by Rs200 billion. “Though Pakistan LNG Limited (PLL) has sought bids for two spot LNG cargoes to be delivered on 7-8 and 13-14 December, the purchase depends on bids’ price. The bids would be opened on October 4. The PLL may also…

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Pakistan to Establish a Carbon Fund to Curb Emissions: Energy Minister says

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Energy-Minister-1

Abu Dhabi October 3 2023: Pakistan has a strong presence at ADIPEC this year, with around 10 companies from the exploration, oil marketing, and related sectors. “Indeed, it’s a promising start, and on the very first day, we have seen a remarkable response. All our companies are actively engaged, and there’s substantial interest in their offerings. The presence here is off to an excellent beginning,” the country’s Minister of Energy, Power and Petroleum stated. Muhammad Ali laid emphasis on decarbonisation and electrification, saying that they are critical components of Pakistan’s…

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Top 10 profit making Institutions:

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economy

Oil and Gas Development Company Rs100.8 billion Pakistan Petroleum Company Limited Rs49.4 billions National Bank or Pakistan Rs30.6 billion Government Holding Private Limited Rs29.8 billion National Power Parks Management Rs28 billion Port Qasim Authority Rs15.4 billion National Transmission and Dispatch Company Rs9.3 billion Pak Kuwait Investment Company Private Limited Rs6.3 billion Faisalabad Electric Supply Company Rs6.08 billion Pakistan Agricultural Storage and Services Corporation LimitedRs6.02 billion Top 10 Loss-making Institutions Quetta Electric Supply Company Rs108.5 billion National Highways Authority Rs94.3 billion Pakistan Railways Rs50.2 billion Sukkur Electric Power Company Rs40.8 billion…

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Energy world to come together at ADIPEC in Abu Dhabi to showcase the cutting-edge innovations and bold partnerships accelerating the energy transition

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ADIPEC-Abu-Dhabi

Abu Dhabi, 1 October 2023 – ADIPEC 2023 will open its doors on Monday, 2 October, gathering the global energy industry to advance decarbonising today’s energy system and to collaborate on the energy system of tomorrow. Featuring a rich exhibition programme that covers energy-related technology, innovation, collaboration, and digitalisation, ADIPEC 2023 is expected to attract more than 160,000+ attendees from 164 countries for its biggest edition ever. Held Under the patronage of H.H. Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates, and hosted by ADNOC, ADIPEC…

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