Category: Highlights

The United Kingdom will end direct government support to oil, gas, and coal project overseas as soon as possible, as part of the country’s ambition to support the energy transition, UK Prime Minister Boris Johnson said over the weekend. Ending taxpayer support for overseas fossil fuel projects is a major shift in policy, considering that the UK government has supported US$28 billion (£21 billion) worth of UK oil and gas exports through trade promotion and export finance over the past four years alone. The decision to end direct government support…

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The report by a five-member commission set up by the prime minister in July to look into the oil crisis, which hit the country in June this year, does not make for pleasant reading. The report which has been made public blames Ogra, the Ministry of Petroleum, private oil companies and others involved in the delicate business of purchasing and regulating oil, for the crisis. As Geo TV has been repeatedly reporting and highlighting, notably in its show hosted by Shahzeb Khanzada, the oil crisis began when global prices fell…

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ISLAMABAD: The Central Development Working Party (CDWP) has approved one project at the cost of Rs7.25 billion, and five position papers at the cost of Rs21.10 billion, and referred two position papers worth Rs37.23 billion to the Executive Committee of the National Economic Council (Ecnec) for final approval. The CDWP met with Deputy Chairman Planning Commission Mohammad Jehanzeb Khan at P Bock Secretariat on Wednesday. Secretary Planning Mathar Niaz Rana, senior officials from the Planning Commission and federal ministries/divisions also participated in the meeting, while representatives from the provincial governments…

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A local court acquitted the K-Electric CEO and four others on Monday in a case pertaining to a citizen being electrocuted to death at a KE substation in Defence Housing Authority during the monsoon rains this year. An additional district and sessions judge was hearing the case against KE CEO Moonis Alvi and four others at Karachi City Court. The police submitted a report to change the status of the case to C-Class. According to the report, the parties have reached a settlement outside the court and the complainant no…

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ISLAMABAD: After failure to get bids for three LNG cargoes required in the first 18 days of the next month on Thursday, the Petroleum Division (PD) has swung into action to overcome the expected gas deficit in the first half of January. In this regard, here on Friday it floated an urgent tender seeking bids for LNG cargoes to avert the crisis. Thebids will be opened on Monday next (December 14), a senior official privy to the latest development told The News. Under the urgent tender mode, the government never…

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