Category: Highlights

PM directed Ministry Energy to complete 16 tasks within 1 to 3 months.

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Shahbaz-Sharif

The recent increase in gas prices has led Prime Minister Shehbaz Sharif to express concern. According to sources, Prime Minister Shehbaz Sharif has issued directives to the Ministry of Energy to complete 16 tasks within 1 to 3 months. It has been reported that Prime Minister Shehbaz Sharif has also instructed the presentation of a forensic audit report on the recent gas price increases within one month. Sources have revealed that Prime Minister Shehbaz Sharif, expressing concern over the recent increase in gas prices, has decided to assess the performance…

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New Conference will Demystify and Chart Pathways for Green Finance at World Future Energy Summit 2024

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New-02

‘Climate finance must happen in partnership between public and private sectors,’ says FAB Chief Sustainability Officer Conference debut comes as UAE looks to become Sustainable Finance Hub Abu Dhabi, March 25 2024: World Future Energy Summit, the leading business event for future energy and sustainability hosted by Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, is to debut a Green Finance Conference during its 2024 edition, which is set to run at Abu Dhabi National Exhibition Centre (ADNEC) from April 16-18. The Green Finance Conference,…

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Oil executives talk down rapid shift to green energy as profits boom

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solar-panel

Houston: Big Oil used an industry conference this week to argue against a rapid transition to green energy, as fossil fuel companies are emboldened by high demand and record profits despite rising alarm over climate change. Executives attending the annual CERAWeek get-together in Houston expressed confidence that fossil fuel consumption would continue growing, just months after world leaders at the COP28 climate summit pledged to begin “transitioning away from fossil fuels” and triple the use of renewables by 2030. “The environment right now is very positive for the oil and…

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Oil sector seeks urgent LC limit hike to avert industry collapse

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oil-and-gas

KARACHI: The Oil Marketing Association of Pakistan (OMAP) has sought an immediate increase in the letters of credit (LCs) limits for oil marketing companies (OMCs), citing the country’s dire financial straits. “The pressing concerns surrounding foreign exchange losses, OMC margins, sales tax, smuggling of Iranian diesel, infrastructure development cess, and the revision of the price mechanism have pushed this vital industry to the brink of collapse,” the association said in a letter to the petroleum minister, Musadiq Malik. The oil body said the sector’s financial stability has been disrupted, and…

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Govt to offer OGDCL shares to Gulf investors

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ogdcl

Pakistan hopes to get better price from Saudi Arabia, UAE, Qatar and Kuwait ISLAMABAD: Pakistan’s government is expected to ask friendly nations to invest in the country’s largest hydrocarbon explorer – Oil and Gas Development Company Limited (OGDCL) – in order to fetch a better price for the company. Background discussions with officials privy to the development revealed that Pakistan could offer shares of the state-owned company to friendly countries like Saudi Arabia, the United Arab Emirates (UAE) and Qatar, which may offer attractive prices. Earlier, the strategy to divest…

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