Day: October 7, 2024

PPL/ PPL ASIA and Midland Oil Company (MdOC) reach amicable settlement on   Block-8 in Baghdad, Iraq, on October 6, 2024

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mdoc

Karachi, October 7, 2024: The settlement between Pakistan Petroleum Limited (PPL) Asia E&P B.V., a subsidiary of PPL, and Midland Oil Company (MdOC) marks the conclusion of their Exploration, Development and Production Service Contract (EDPSC) for Block-8, Iraq, which expired in May 2022. Efforts to resolve the lingering settlement from 2022 involved addressing longstanding disputes and claims between the parties. PPL Asia’s commitment to finding a resolution demonstrates sustained negotiations and legal efforts, culminating in an agreement signed on October 6, 2024, by PPL’s MD/CEO Mr. Imran Abbasy and MdOC’s…

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Energy Update expresses deepest condolence to China for loss of Chinese nationals in Karachi attack

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Karachi The Energy Update expressed its deepest condolences to the government and affected families from the People’s Republic of China for the loss of two precious lives of Chinese nationals and injuries to another Chinese in the gruesome terror attack near Karachi Airport on the night of October 6, 2024.In its condolence message, Energy Update Managing Editor, Muhammad Naeem Qureshi, vehemently condemned the terror attack on the convoy transporting the Chinese employees of the Port Qasim Electric Power Company after their arrival at the Karachi Airport.He said the attack on…

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Pakistan to Export Rice, Potatoes to Russia, Barter Trade Deal Signed

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pakistan deal with pakistan

Islamabad: Pakistan and Russia have signed their first-ever barter trade agreement during the inaugural Pakistan-Russia Trade Forum, according to recent report. This significant deal aims to strengthen economic ties between the two nations by allowing them to exchange agricultural products without relying on traditional payment systems. The move is particularly important due to payment constraints caused by Western sanctions imposed on Russia following its 2022 invasion of Ukraine. These sanctions have prompted Moscow to turn to barter deals to avoid currency risks and sidestep the complications of international payment systems.…

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India Foreign Minister to Visit Pakistan for First Time Since 2015

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India’s External Affairs Minister Subrahmanyam Jaishankar will attend a China-led summit in Pakistan in place of Prime Minister Narendra Modi, the government said late Friday. It’ll be the first visit to Pakistan by an Indian foreign minister since 2015. Jaishankar will lead the delegation at a state-level meeting of the Shanghai Cooperation Organisation starting on Oct. 15, said Randhir Jaiswal, foreign ministry spokesperson.

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Dubai Airports to Launch World’s Largest Rooftop Solar Panel Project

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In a significant move towards sustainability, Dubai Airports has announced a partnership with Etihad Clean Energy Development Company to launch the world’s largest rooftop solar panel project at an airport. The project, slated for completion by 2026, will see the installation of 62,904 solar panels at Dubai International (DXB) and Dubai World Central (DWC). With a capacity of 39MWp, the solar panels are expected to generate 60,346 MWh annually, reducing carbon emissions by 23,000 tonnes each year—the equivalent of removing 5,000 cars from the road or powering 3,000 homes. This…

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