Category: Recent Post

OMCs seek an end to ongoing ‘witch-hunt’

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The Oil Marketing Association Pakistan (OMAP) on Tuesday called for an end to the witch-hunt of the oil marketing companies (OMCs) saying it was increasingly becoming difficult for them to operate under the current circumstances. OMAP Chief Executive Officer Dr Ilyas Fazil in a letter to Energy Minister Hammad Azhar appealed for an end to the spate of inquiries against the OMCs in the wake of the June 2020 Petrol Crisis Commission’s report. “This sector is the most important one to keep the wheels of the economy turning and must…

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Transport sector complains about govt entities’ hurdles

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The transport sector, which relies on Compressed Natural Gas (CNG), has complained to the prime minister that it is facing unfair treatment and roadblocks from various government institutions and entities in matters of pricing, supplies, imports and pipeline capacity for transportation of liquefied natural gas (LNG). In a detailed representation, the copies of which have been shared with the Ministry of Energy and the Oil and Gas Regulatory Authority (Ogra) and the Universal Gas Distribution Company (UGDC) has explained the ‘impediments against private sector role in gas supply’ since its…

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Descon leads manpower export from Pakistan

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LAHORE – Pakistan achieved the honor of becoming the leader in manpower export in the region, surpassing major players, India and Bangladesh in 2020. Over 224,000 Pakistanis went overseas for working in both white and blue collared roles. Descon Engineering Limited has played a major role in Pakistan achieving this feat, by being the highest manpower exporting entity, not only in 2020, but also over the previous 3 years, as per the data shared by the Bureau of Emigration and Overseas Employment (OEP). With a total of 4,582 promoters nation-…

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China goes full throttle on green energy transition to achieve carbon neutrality

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China is the world’s largest producer and consumer of energy, with fossil fuels making up about 85 per cent of the energy structure. China has vowed to attain carbon dioxide emissions peak before 2030 and achieve carbon neutrality before 2060. The country is going full throttle to develop new energy resources and increase their proportion in primary energy consumption nationwide, which are expected to lighten the burden on the environment and ecosystems and provide practical solutions to mitigating soil, surface water and air pollutions, said Lei Yizhu, head of Guizhou’s…

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UAE, Saudi reach compromise: OPEC+ agrees oil supply boost

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The group, which includes OPEC countries and allies like Russia, crucially agreed new production allocations from May 2022 after Saudi Arabia and others agreed to a request from the United Arab Emirates (UAE) that had threatened the plan. “We are happy with the deal,” UAE’s Energy Minister Suhail bin Mohammed al-Mazroui told a news conference. Saudi energy minister Prince Abdulaziz bin Salman declined to answer questions on how the compromise was reached. OPEC+ last year cut production by a record 10 million barrels per day (bpd) amid a pandemic-induced slump…

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