Month: January 2024

Third parties on commercial basis: CCI approves 25pc hike in sale price of gas

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Gas-Project

ISLAMABAD: A meeting of the Council of Common Interests (CCI) has approved increase in sale price of natural gas to third parties on commercial basis, ie, from 10 percent to 35 percent as well as necessary amendments to the Petroleum Policy 2012 and draft Tight Gas Exploration and Production Policy 2024. The 51st meeting of the CCI held under the chairmanship of Caretaker Prime Minister Anwaar ul Haq Kakar on Monday was presented for approval amendments in the Petroleum Policy 2012 by the Petroleum Division. The meeting was informed that…

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Resurrecting dead IP gas pipeline project

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Oil-and-Gas

ISLAMABAD: Iranian Foreign Minister Hossein Amir Abdollahian on Monday presented a workable solution with regard to the completion of the Iran-Pakistan gas pipeline project with a proposal that the project can be financed by China and Russia if Islamabad is facing resistance because of the US sanctions on Tehran. The proposal was presented by the visiting Iranian foreign minister during delegation-level talks with caretaker Foreign Minister Jalil Abbas Jilani upon his day-long visit in the wake of the recent tension between the two countries, sources privy to the development told Business…

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Pakistan Refinery to remain shut for over a month

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PRL-eyes

KARACHI: Pakistan Refinery Limited (PRL) will remain shut from Tuesday (today) for 35 to 38 days due to maintenance and inspection turnaround, the company said on Monday in a stock filing. Last week, PRL announced doubling its crude oil refining capacity from 50,000 barrels per day (bpd) to 100,000 bpd aimed at eliminating the production of high sulphur fuel oil (HSFO) and maximising the production of petrol and diesel Euro 5 standards. ISL’s solar power project The board of directors of International Steels Limited (ISL) has approved the undertaking of…

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WAPDA holds road show in Bangkok, seeks global partners for floating solar project

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New-Project

LAHORE: The Water & Power Development Authority (WAPDA) held a road show in Bangkok on Monday to attract international bidders for its 300 megawatt (MW) floating solar project, the first of its kind in the country. The project, which will use floating solar panels on two reservoirs in the Tarbela-Ghazi Barotha hydropower complex, aims to generate clean and low-cost electricity for the national grid. The road show, which was attended by 58 delegates from 50 international firms, also featured presentations by WAPDA officials and consultants on the financial, technical and…

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Roadshow planned for solar plants

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solar-panel

Environmental, social impact of floating solar plants has already been studied, declared by experts as manageable ISLAMABAD: Pakistan will hold a roadshow in Bangkok on January 29 to attract investment in floating solar plants of 300MW to be set up at the site of Tarbela-Barotha Complex. Under the project, Pakistan aims to develop two 150MW floating solar plants, the Pakistan embassy in Thailand said on social media platform X, inviting potential bidders to participate. Interested parties can take part in competitive bidding with two envelopes containing technical and financial proposals.…

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