Category: Highlights

Qatar hikes March al-Shaheen oil term price to over 2-year high

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oil term price

SINGAPORE: QatarEnergy has raised the term price for al-Shaheen crude oil loading in March, trade sources said on Thursday, setting it at a premium that has been the highest in more than two years. The term price has risen by $2.76 to $3.81 per barrel, from the premium of $1.05 per barrel set for February-loading cargoes, the sources said. The premium is at its highest level since prices were set in October 2022 for cargoes loading in December that year. Saipem wins $4bn contract from Qatar Energy The hike comes…

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Race to renewables: Attock Cement commissions 4.8MW windmill project

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windmill project

As Pakistan’s corporate sector increasingly turns to renewable energy to meet its power needs, Attock Cement became the latest entrant to join this trend, announcing the successful commissioning of a 4.8MW windmill project. The listed company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday. “We would like to convey the information that our windmill of 4.8MW capacity has been successfully commissioned and is now fully operational with effect from January 15, 2025. Following the announcement, the company’s share price surged to Rs228, an increase…

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OGDCL Begins Oil and Gas Production from Kharo-1 Well in Sindh

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KARACHI: Oil & Gas Development Company Limited (OGDC), Pakistan’s largest exploration and production (E&P) firm, has officially started oil and gas production from its Kharo-1 well in Khairpur, Sindh. The company made this announcement in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. The Kharo-1 well is currently producing 20 barrels of oil per day (bpd) and five million standard cubic feet per day (mmscfd) of gas. The production has been connected to the OGDC Sinjhoro Processing Plant via a 6-inch, 12.5 km flow line, with the gas…

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Pakistan, China commit to top-notch CPEC 2.0

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pakistan china

ISLAMABAD: Pakistan and China have reaffirmed their commitment to high-quality development of the China-Pakistan Economic Corri­dor (CPEC) 2.0, with emphasis on industrialisation, Spe­c­ial Economic Zones (SEZs), clean ene­rgy, agriculture and livelihood projects. This was agreed between the two sides in the 5th meeting of the CPEC Joint Working Group on Inter­nat­ional Coope­ration and Coordination (JWG-ICC) held in Beijing, the Foreign Office spokesperson said in a statement on Saturday. The meeting was co-chaired by For­eign Secretary Amna Baloch and Chi­nese Vice Foreign Minister Sun Weidong. The meeting acknowledged the pivotal role…

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Govt cuts tariff on charging stations by 45%: Awais Leghari

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awais leghari

In a bid to improve electric vehicle (EV) charging infrastructure in Pakistan, the government has decided to cut the tariff for EV charging stations by 45%, announced Federal Minister for Energy Awais Ahmad Leghari on Wednesday. “We are striving to make EVs accessible to the masses. In this regard, the Power Division has taken a significant step. “The government has decided to reduce the electricity tariff for charging stations by 45%, lowering it from Rs71.10 to Rs39.40,” said Leghari, while addressing a press conference. Leghari said that due to high…

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