Author: Admin

Sapphire Electronics Partners with Samsung for Local Production in Pakistan

Admin
New-Samsung

KARACHI: Sapphire Electronics (Pvt) Limited, a subsidiary of Reliance Cotton Spinning Mills Limited (RCML), has announced a strategic partnership with Samsung Electronics to locally manufacture, assemble, and sell Samsung-branded electronic products and home appliances in Pakistan. The announcement, disclosed in a notice to the Pakistan Stock Exchange (PSX) on Monday, stated: “Sapphire Electronics (Pvt) Limited, a wholly owned subsidiary of RCML, has entered into an agreement with Samsung Electronics Co. Ltd., Republic of Korea, and Samsung Gulf Electronics Co. FZE, UAE, to produce and market Samsung-branded products in Pakistan.” Following…

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SNGPL Clarifies Gas Curtailment Claims

Admin
SNGPL-Office

ISLAMABAD: In response to recent reports regarding gas field closures in favor of imported RLNG and alleged economic losses, Sui Northern Gas Pipelines Limited (SNGPL) has issued a clarification refuting key points in the published story titled “Local Gas Cuts Cause $194m Loss to Economy in 4 Months.” SNGPL stated that the indigenous gas fields were temporarily closed only in parts of December due to low RLNG demand from the power sector. Currently, all gas-producing fields are operational and producing at optimal capacity, with the power sector resuming RLNG consumption…

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Gas Pipeline Sabotage Halts Supply to Upper Balochistan and Quetta

Admin
iranian gas

ISLAMABAD: A sabotage attack by unidentified miscreants severely damaged an 18-inch diameter gas pipeline of Sui Southern Gas Company (SSGC) near Akhtarabad, Quetta, disrupting gas supplies to Upper Balochistan and Quetta City. According to an initial report from the Bomb Disposal Squad, the pipeline near the Western Bypass was targeted, causing significant damage. SSGC’s technical teams promptly responded to extinguish the fire by shutting off the main valve. Repair work is set to commence Thursday morning after receiving security clearance from law enforcement agencies. The damaged 8-foot section of the…

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Ministry Urged to Expedite Approval of Revised PC-1 for 2,160MW Dasu Project

Admin
Dasu-Dam

ISLAMABAD: The Ministry of Economic Affairs (MoEA) has called on the Ministry of Water Resources (MoWR) to fast-track the submission and approval of the revised PC-1 for the 2,160MW Dasu Hydropower Stage-1 project. This step is critical to ensuring the timely signing and implementation of the loan and financing agreements, as per sources in the Economic Affairs Division (EAD). During negotiations with the World Bank on April 29, 2024, it was agreed to extend the project’s closing date to December 31, 2028. However, the pending approval of the revised PC-1…

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Russian LPG Prices Plummet by Half Amid Sanctions

Admin
lpg

MOSCOW: Domestic liquefied petroleum gas (LPG) prices in Russia dropped sharply in December, halving compared to the previous month, due to a surge in supply following European Union sanctions that curbed exports, according to Reuters calculations. The EU sanctions on Russian LPG, effective December 20, were driven by proposals from Poland, historically one of Russia’s largest LPG importers. LPG, comprising propane and butane, is widely used as vehicle fuel, for heating, and in petrochemical production. The sanctions redirected significant volumes of LPG to the domestic market, causing wholesale prices to…

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