NEW DELHI: India is preparing to launch a coal exchange aimed at stabilizing coal prices and enhancing the fuel’s availability, according to Coal Minister G. Kishan Reddy. Speaking at an industry event on Monday, the minister revealed that discussions on establishing the exchange took place last week, though the exact launch date was not disclosed.
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DOHA: Qatar’s efforts to secure new liquefied natural gas (LNG) contracts with Japan and South Korea have hit obstacles as increased competition from the United States, the UAE, and Oman offers buyers more flexible contract terms. Qatar, once the dominant LNG supplier to these key Asian markets, faces resistance due to its insistence on restrictive destination clauses, while competitors provide shorter-term contracts with no destination limits. This flexibility allows buyers to resell cargoes if needed, making US and UAE supplies more attractive. With Qatar’s major LNG deals with Korea Gas…
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ISLAMABAD: Pakistan’s urban population is projected to soar to 99 million, or 40% of the total population, by 2030, intensifying existing challenges in urban infrastructure and services, according to Emma Fan, Country Director of the Asian Development Bank (ADB) for Pakistan. Speaking at the launch of the National Urban Assessment of Pakistan, Fan highlighted the growing strain on cities, especially provincial capitals, which host a disproportionate share of the urban population. The ADB-backed projects, including PICIIP, KPCIP, and DREAMS, aim to improve urban service delivery, focusing on climate-resilient infrastructure and…
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ISLAMABAD: The federal government’s ambitious plan to upgrade domestic refineries has hit a significant roadblock just days before the deadline for finalizing agreements. The issue arises from a sales tax exemption introduced in the 2024-25 national budget by the Federal Board of Revenue (FBR), causing uncertainty among investors. With $6 billion in investment at stake, the Petroleum Division is considering requesting an extension from the Cabinet Committee on Energy (CCoE) to complete agreements with five local refineries. A crucial meeting between refinery representatives, petroleum and finance officials, and the FBR…
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ISLAMABAD: Independent Power Producers (IPPs) set to face scrutiny in the second phase of shifting from the “take or pay” to the “take and pay” model are expressing frustration over a two-week payment stoppage by the Central Power Purchasing Agency (CPPA-G). Sources informed Business Recorder that 18 IPPs under the 1994 and 2002 policies will soon receive notices for renegotiating their Power Purchase Agreements (PPAs). One of the affected companies, Laraib Energy Limited, has formally requested CPPA-G to release Rs 2.390 billion to meet debt servicing obligations to foreign lenders…
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