Category: News & Announcement

LONDON: Oil prices fell on Monday on concerns about scarce storage capacity and global economic doldrums from the coronavirus pandemic. U.S. oil futures led losses, falling by more than $2 a barrel on fears that storage at Cushing, Oklahoma, could reach full capacity soon.U.S. West Texas Intermediate CLc1 June futures fell $2.86, or 16.88%, to $14.08 a barrel by 1100 GMT.Brent crude LCOc1 was down 83 cents, or 3.9%, at $20.61 a barrel. The June Brent contract expires on Thursday.Oil futures marked their third straight week of losses last week…

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The National Electric Power Regulatory Authority (Nepra) has constituted a committee of experts to prepare its reply on the report on Independent Power Producers (IPPs) prepared by a nine-member committee. Nepra is examining the recently released final report by the committee for power sector audit, circular debt resolution and future roadmap .The report has never been shared with the Nepra Authority before despite a clear agreement on the onset with the convener of the committee,” said the regulator on Saturday. Nepra, which apparently is under criticism for not playing its…

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KARACHI: The Pakistan GasPort Consortium Limited (PGPCL), which owns and operates Pakistan’s single largest LNG storage and regasification terminal at Port Qasim, has received ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications. The certifications were issued by the Bureau Veritas Certification Holding SAS—UK Branch for PGPCL’s compliance to global standards for management system standards in LNG, transfer, storage, regasification and RLNG delivery and safety, says a press release. “As GasPort puts high priority in providing a safe and healthy work environment for its team members handling LNG operations, a compliance to…

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KARACHI: National Bank of Pakistan (NBP) has donated a sum of Rs. 20 million for rations distribution in Karachi through the Karachi Relief Trust (KRT). It is one of the many initiatives that NBP plans to take as part of its corporate social responsibility, says a Press release.This CSR initiative is mainly for the poor and less privileged segment of society that have been most affected due to the current COVID-19 lockdown situation. NBP’s donation will help over 6,500 deserving daily wage workers, who have not been able to earn…

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Coronavirus outbreak has forced nations under lockdowns restricting or putting a halt on transportation, agricultural as well as industrial activities across the globe. These measures are taken in order to contain the pandemic and save lives. Many necessary services have been halted leading to increasing discomfort to the populations, loss of jobs and work leading to economic difficulties for communities are other harsh realities which we face today due to the global pandemic of Covid19. In Pakistan more than 9000 people have been infected and at least 192 have lost…

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