Category: Highlights

Pakistan and China have agreed to use bullet-proof vehicles for all outdoor movement of the Chinese nationals working on the China-Pakistan Economic Corridor (CPEC) projects in order to protect them from terrorist attacks. According to the draft minutes of the 11th Joint Cooperation Committee (JCC) of the CPEC, both the sides have also agreed to strengthen capabilities of the law-enforcement agencies and investigators. The decisions may help address the concerns of the government of China that was not moving forward on the CPEC front until the security of its nationals…

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Russian exports of liquefied natural gas (LNG) rose in October to their highest level since March, vessel-tracking data compiled by Bloomberg showed on Wednesday, in a sign that the world—including Europe—is scrambling to reduce dependence on Russian gas. In October, Russia’s LNG exports increased by 1.1% compared to October 2021 to the level last seen in March, just after the Russian invasion of Ukraine. Europe hasn’t sanctioned Russian LNG or pipeline gas, but buyers have tried to shun Russian cargoes where possible. The EU is considering a price cap on…

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Federal minister for Power Engr. Khurram Dastgir Khan held a meeting with a delegation of European Parliamentarians here today.Federal minister briefed the delegation about the rehabilitation efforts done in flood affected areas. The tireless efforts of Ministry of Energy enabled early restoration of electricity in the worst hit areas. Minister highlighted that climate change is no more a theory but a real disaster for Pakistan. Despite minimum share in world pollution, Pakistan had to face the brunt of Climate change. Engr. Khurram Dastgir Khan apprised the delegation of the present…

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The Ambassador of the Republic of Poland, Maciej Pisarski announced on Thursday that the Polish Oil and Gas Exploration and Production Company, operating successfully in Pakistan for the last 25 years, used the latest technology to extract tight gas from the rock formations. Addressing businessmen in a meeting with the Karachi Chamber of Commerce and Industries (KCCI), the envoy said, “This company is interested in doing more and is applying for additional concessions so it can expand operations to extract indigenous Pakistani gas, which is sold to the domestic market…

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Crude oil began trade today with a gain on the back of expectations that China may begin to ease its Covid restrictions and on data from the American Petroleum Institute pointing to another decline in U.S. crude oil inventories. China’s Covid lockdowns have been one of the big headwinds for oil prices, keeping a lid on any rally since the summer as one of the world’s biggest consumers continues with its zero-Covid policy. Yet stock price movement data this week reflects growing hopes that Beijing will soon begin to relax restrictions, which would have…

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