Category: Recent Post

KARACHI: State-owned Pakistan State Oil (PSO) has floated several tenders to procure petroleum products to ensure ample availability of fuel in the New Year, it was learnt on Thursday. PSO has invited bids for supply of three motor gasoline cargos of 45,000 tons each in January 2021, along with one standard size cargo each of high sulphur fuel oil and low sulphur fuel oil. PSO would also receive one cargo of jet fuel in January. Market sources said PSO’s stock position was at a comfortable level and there was no…

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Reduced activity levels, project cancellations and workforce cuts as a result of the coronavirus pandemic have slashed business confidence across the UK’s oil and gas sector, according to an industry report. The 32nd Oil and Gas survey, conducted by Aberdeen & Grampian Chamber of Commerce in partnership with the Fraser of Allander Institute and KPMG UK, asked firms about the initial impact of CV19, how they expect activity to recover and how recent events have influenced industry views on future facing issues like the energy transition and the UK’s exit…

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Yellow Door Energy currently has over 110 megawatts of solar assets operating and under construction in the UAE, Jordan, and Pakistan, with recent expansions into Saudi Arabia, Bahrain, and Oman. Yellow Door Energy is one of Apicorp’s investee companies and in 2019 the corporation and a consortium of international and regional banks invested $65 million in Yellow Door Energy to scale up investments in solar energy and efficiency solutions in emerging markets. “For years, Apicorp has been a trusted financial partner in the region’s energy sector, and we are delighted…

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CHARSADDA: Illegal mining of precious mines and minerals is continuing despite the ban for the last two years in the district. It is causing huge losses to the provincial exchequer every year. Sources said that the Khyber Pakhtunkhwa government was losing Rs157.13 million per annum due to the ban on mining and flawed policies to boost the sector in Charsadda. They said that there were substantial mine and mineral reserves on 13,000 acres of land in Charsadda, the native district of Special Assistant to the Chief Minister for Mines and…

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Policymakers have expressed the desire that gas companies should follow the model of telecom sector in an effort to operate in a competitive market, improve efficiency and reduce losses. At present, the two public gas utilities are posting high losses, which have worried policymakers, who are considering splitting the companies to control revenue bleeding. Losses of the gas utilities range from 11-17%. According to the Petroleum Division, the monopoly of the gas companies is causing an annual loss of Rs50 billion. These companies are in deep financial trouble because of…

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