Category: Highlights

PPL and GoB Sign Landmark Memorandum of Agreement for Sui Development and Production Lease

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ppl

Sui, Dera Bugti – February 14, 2025: Pakistan Petroleum Limited (PPL) and the Government of Balochistan (GoB) have reached a significant milestone by signing a Memorandum of Agreement (MoA)—a crucial step towards the execution of the Petroleum Concession Agreement (PCA) for the Sui Development and Production Lease (D&PL). The signing ceremony, held at Sui, District Dera Bugti, was graced by Chief Minister of Balochistan, Mir Sarfraz Bugti as the Chief Guest, alongside the Federal Minister for Planning, Development & Special Initiatives Mr. Ahsan Iqbal, Senator Shahzaib Durrani, Senator Danesh Kumar,…

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Global LNG: Asian spot LNG gains amid colder weather, Europe stocks concerns

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LNG

SINGAPORE: Asian spot liquefied natural gas (LNG) prices rose to an over-one-year high this week, amid forecasts of colder temperatures and as concerns of Europe’s storage levels persist. The average LNG price for March delivery into northeast Asia was at $16.10 per million British thermal units (mmBtu), the highest since November 2023, industry sources estimated. “The main market concern is the high rate of withdrawals from Europe’s gas inventories… The region appears on track to import 11 million tons of LNG in February,” said Siamak Adibi, director for gas and…

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Saudi and Pakistan forge stronger tourism ties, unlocking unprecedented travel opportunities

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Saudi and Pakistan forge stronger tourism ties

Saudi and Pakistan forge stronger tourism ties, unlocking unprecedented travel opportunities February 14, 2025 Feb 14th, Karachi: Saudi is emerging as a top global travel destination in 2025, offering exciting new opportunities for Pakistani travelers. With over 2.7 million Pakistani travelers visiting Saudi in 2024 and an anticipated 2.87 million in 2025, the country is strengthening its accessibility and diverse experiences beyond religious tourism. Saudi is enhancing travel for various segments, including solo female travelers, destination weddings, and cultural exploration. Pakistani talent and travelers are making a significant impact on…

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Sir Syed University’s power system to be converted to solar energy

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Sir Syed University will save about Rs. 50 million annually – Governor Kamran TesoriMoU signed between Sir Syed University and Redstone Energy at the Governor House KARACHI, February 13, 2025 – A Memorandum of Understanding was signed between Sir Syed University of Engineering and Technology and Redstone Energy at a ceremony held at the Governor House under which the power system of Sir Syed University will be converted to solar energy. As a result of the agreement with Redstone, Sir Syed University will save about five crore rupees annually. The…

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European LNG prices are reaching levels that will hit demand, says Vitol

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LNG prices

NEW DELHI: European prices of liquefied natural gas (LNG) are reaching levels that will start hurting demand, commodities trading firm Vitol’s Chief Executive Russell Hardy said on Wednesday at the India Energy Week conference in New Delhi. Global LNG: Asia spot prices gain amid Russia-Ukraine gas transit concerns He added that he does not see new policies in top producer the United States leading to major change in anticipated LNG supply capacity growth through 2028.

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