Category: Recent Post

SHARJAH, (UrduPoint / Pakistan Point News / WAM – 26th Apr, 2021) Dana Gas and its partner Crescent Petroleum have announced the full resumption of the expansion project at the Khor Mor field in the Kurdistan Region of Iraq (KRI), which the companies jointly operate on behalf of the Pearl Petroleum consortium. The KM250 expansion involves further investment of US$600 million to add 250 million cubic feet per day of much-needed additional gas production to supply the local power stations. The project construction work had been put on hold due…

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ISLAMABAD: The Planning Commission’s research think tank the Pakistan Institute of Development Economics (PIDE) has recommended to the government to undertake key fundamental changes in real estate and energy sectors, including doing away with the mechanism of fixing DC rates of properties. The PIDE recommended that the government should have buy-back provisions if the real estate plots were sold by declaring less than the market price. The PIDE recommends fixing POL prices on weekly basis keeping in view prices in the international market. The PIDE, in its Reform Agenda prepared…

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Oilprice.com, a renowned publication for oil-related topics has recently published an article talking about the recent success of Qatar in capturing a fast-growing LNG market, Pakistan. The author talks about the fact that even though the media has dampened the news of the Qatar Petroleum-Pakistan State Oil Company deal, but it is a big deal. According to the publication, the deal is successful in rendering Pakistan’s LNG imports cheaper, at the same time guaranteeing Qatar’s prime role on the Pakistani market, the QP-PSOC deal fully reflects both sides’ preferences. Pakistan…

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Beijing China-origin entrepreneur Kohala Hydropower Company Ltd and Azad Jammu Kashmir government Friday signed an agreement regarding the implantation of water uses of the upcoming CPEC-sponsored Kohala Hydropower project being construction over Jhelum river passing through AJK’s capital district of Muzaffarabad. The project will produce 1,124 megawatt electricity costing $2.4 billion. Azad Jammu & Kashmir Secretary Electricity Zafar Mehmood and chief executive officer of Chinese three gorges company signed the agreement. AJK Prime Minister Raja Farooq Haider Khan and Federal Minister Hamad Azhar were also present on this occasion. Kohala…

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ISLAMABAD – The financial close for 1263 MW re-gasified liquefied natural gas (RLNG) based Punjab Thermal Power Ltd (PTPL) has been achieved. Financial closing documents of the power project to be completed at the cost of $708 million were signed here Friday by Private Power and Infrastructure Board (PPIB) Managing Director Shah Jahan Mirza, and PTPL Chief Executive Officer Akhtar Hussain Mayo. The financial closing ceremony was attended by the Federal Minister for Energy, Muhammad Hammad Azhar, Punjab Energy Minister, Dr Muhammad Akhtar Malik, Chairman PPIB/Secretary Power Division, Ali Raza…

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