Category: Latest News

Pakistan, Russia Hold Talks on Potential Oil-Sector Agreement

Admin
Pakistan-Russia

Pakistan and Russia are in discussions over a possible oil-sector agreement as the two countries explore broader cooperation in energy, Pakistan’s Finance Minister Muhammad Aurangzeb has said. Speaking to Russia’s RIA news agency in an interview published on Tuesday, Aurangzeb said Pakistan was keen to collaborate with Russia in areas such as exploration, production and refining. “All of these areas are Russia’s strengths, and we would be very happy if Russia agreed on an agreement in this sector with Pakistan,” he said, adding that the matter is currently under discussion…

Read More

Nepra Directs Sindh Nooriabad Power Company to Refile COD Adjustment Application

Admin

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has directed Sindh Nooriabad Power Company (Pvt) Limited (SNPC-I and SNPC-II) to resubmit its Commercial Operation Date (COD) adjustment (true-up) application along with complete and relevant supporting records for further processing. According to Nepra’s decision, SNPC-I and SNPC-II are two gas-based power generation projects of around 50MW each, supplying electricity to K-Electric. The projects are jointly sponsored by the Government of Sindh (49pc) and Technomen Kinetics (Pvt) Limited (51pc). Nepra issued generation licences to the projects on July 15, 2015, while their…

Read More

Pakistan, Kuwait Explore Expanded Petroleum Sector Cooperation

Admin
Petroleum-Sector

KUWAIT: Federal Minister for Petroleum Ali Pervaiz Malik on Monday met with Kuwait’s Minister of Oil, Tariq Sulaiman Al-Roumi, to discuss matters of mutual interest and strengthen bilateral cooperation in the petroleum sector. According to an official statement, the meeting was attended by Sheikh Nawaf Al-Sabah, Chief Executive Officer of Kuwait Petroleum Corporation (KPC), the CEO of Kuwait Foreign Petroleum Exploration Company (KUFPEC), along with senior management from both organisations. The Pakistani delegation included Managing Director of Oil & Gas Development Company Limited (OGDCL) Ahmed Hayat Lak and the General…

Read More

PIBT to Handle Export of Reko Diq Copper-Gold Concentrates

Admin
Reko-Diq

KARACHI: Pakistan International Bulk Terminal Ltd (PIBT) on Monday signed an agreement with Reko Diq Mining Company (RDMC) to handle and export copper-gold concentrates from the Reko Diq project, marking a major milestone in Pakistan’s minerals and logistics sector. The agreement follows PIBT’s execution of a Supplemental Implementation Agreement with the Port Qasim Authority (PQA), which authorises the terminal to handle, store and export copper-gold commodities, including minerals, metals and other natural earth resources, according to a press release. Under the arrangement, PIBT will act as the primary logistics and…

Read More

PM Shehbaz Orders Fast-Track Power Sector Reforms, Discos Privatisation

Admin
New-Project90

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday directed concerned authorities to accelerate wide-ranging power sector reforms, with a special focus on the privatisation of power distribution companies (Discos) and generation companies (Gencos), terming it a key step towards resolving Pakistan’s energy challenges. Chairing a high-level meeting, the prime minister underscored that privatisation and the creation of a competitive electricity market offered a sustainable, long-term solution to inefficiencies in the power sector. He was informed that expressions of interest (EoIs) for the privatisation of Islamabad Electric Supply Company (IESCO), Faisalabad Electric…

Read More