Category: Latest News

Pakistan Faces $1 Billion LNG Bill This Winter

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Pakistan will have to pay in excess of $1 billion to secure LNG supply for the winter months, as spot prices soar amid massive disruptions to Qatari term supply. The price tag will be fueled by the spot LNG prices in Asia surging to three-year highs and the plans of the Pakistani government to import 10 LNG cargoes from the spot market, at double the price at which LNG is being imported from Qatar, local daily Tribune reported on Tuesday. Amid disrupted supplies from Qatar, Pakistan will have to purchase…

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Govt reduces petrol price by Rs2.71 per litre, high-speed diesel rate by Re0.03

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The government on Tuesday reduced the price of petrol by Rs2.71 per litre and that of high-speed diesel (HSD) by Rs0.03 per litre. Following the revision, petrol will retail at Rs392.66 per litre, while HSD will cost Rs396.82 per litre. The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel. According to the Petroleum Division’s notification, the new prices are applicable for Oct 14 (Wednesday). The price of HSD has come down from a peak of Rs520.35 recorded on April…

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Sindh CM Murad Shah seeks Chinese partnership for Water, infrastructure, climate-resilient agricultureHBSZ willing to construct 100km K-IV pipeline as Sindh and Chinese companies explore cooperation in barrages, seed technology and modern farming

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WUHAN (China), Oct 13: Sindh Chief Minister Syed Murad Ali Shah has invited Chinese companies to invest in the province’s water, agriculture and infrastructure sectors, seeking cooperation on the construction of a 100-kilometre K-IV pipeline for Karachi, the rehabilitation of Sukkur Barrage and the development of climate-resilient crop varieties.During a visit to HBSZ Company in Wuhan’s Hanyang district, the chief minister discussed the K-IV pipeline project and inspected gates being manufactured for the rehabilitation and modernisation of Sukkur Barrage. Officials said HBSZ had expressed willingness to undertake construction of the…

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Total Energies Expands US Joint Venture with KKR, Adds 700MW Renewables Portfolio

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PARIS: TotalEnergies has announced the expansion of its joint venture with global investment firm KKR in the United States through the addition of a 700-megawatt (MW) renewable energy portfolio. The transaction values the portfolio at an enterprise value of $1.20 billion, according to the company. TotalEnergies will continue to operate the renewable energy assets following the completion of the transaction. The expansion strengthens the companies’ existing partnership in the US renewable energy sector, although further details regarding the portfolio’s composition and the transaction’s completion timeline were not provided in the…

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Saudi Arabia Eyes Raising Pipeline Oil Export Capacity to 10 Million BPD

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DUBAI: Saudi Arabia is planning to increase its pipeline crude oil export capacity to as much as 10 million barrels per day (bpd) by repurposing a domestic gas pipeline and upgrading its existing East-West oil pipeline network, Energy Minister Prince Abdulaziz bin Salman said on Monday. The kingdom could add up to 1.2 million bpd of export capacity within seven to eight weeks by temporarily converting a gas pipeline to transport crude oil, the minister said at the World Petroleum Congress in Riyadh. With further investment, the additional capacity could…

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