Day: October 6, 2025

Qatar Energy Acquires 27% Stake in Offshore Egypt Block from Shell

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Qatar-Energy

DOHA: In a strategic move to expand its global energy portfolio, Qatar Energy has reached an agreement with Shell to acquire a 27% participating interest in the North Cleopatra offshore block in Egypt, the company announced on Sunday. The agreement, which is subject to approval from Egyptian authorities, will see Shell retain a 36% stake and continue as the operator of the block. Chevron holds an equal 27% interest, while Tharwa Petroleum Company, an Egyptian oil and gas firm, maintains a 10% share. Located in the Herodotus Basin of the…

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PM Shehbaz Urges Pakistan-Malaysia Collaboration on Mutually Beneficial Projects

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Shehbaz-Sharif

PUTRAJAYA: Prime Minister Shehbaz Sharif on Monday reaffirmed Pakistan’s commitment to strengthening economic and strategic cooperation with Malaysia, emphasizing the need to “join hands” for mutually beneficial projects that combine the expertise and resources of both nations. Addressing a joint press conference with Malaysian Prime Minister Anwar Ibrahim in Putrajaya, PM Shehbaz expressed gratitude for the exceptionally warm welcome extended to him and his delegation, describing Malaysia as a “second home.” He praised PM Ibrahim’s vision and leadership for transforming Malaysia into a strong regional economy. “Pakistan wants to join…

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Power Consumers Bearing the Brunt of Regulatory Failures

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Power-sector

ISLAMABAD: Pakistan’s electricity consumers are being forced to pay nearly Rs215 million due to regulatory lapses and weak contract enforcement in the power sector. While factors such as the capacity trap, currency depreciation, and exchange-rate volatility are often blamed for high electricity tariffs, deeper systemic issues — including inadequate regulatory oversight — continue to burden consumers with costs resulting from private sector defaults. The latest case involves a Punjab-based coal power plant where a long-term coal supplier defaulted on its delivery commitments in December last year. The supplier, who had…

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