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The price of compressed natural gas (CNG) jumped on Saturday to Rs184 per kilogram in Sindh and Rs123 per litre in Punjab — an increase of Rs15 per kg and Rs8 per litre, respectively. The new rates notified by the CNG association came into effect on Saturday. “The government procured liquefied natural gas (LNG) from the international market at very high rates because of on-the-spot buying of the LNG cargo,” All-Pakistan CNG Association Group Leader Ghayas Paracha told Dawn. “However, the good thing is that the price will start lowering from…

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TotalEnergies SE, Air Liquide SA and Vinci SA pledged to contribute 100 million euros ($116 million) each to a fund created by Ardian SAS and FiveT Hydrogen that aims to invest 1.5 billion euros in clean hydrogen infrastructure. The commitments are the latest sign of the growing interest in the carbon-free fuel. Nations have pledged tens of billions of dollars of subsidies to bring down the cost of producing hydrogen with renewable energy — called green hydrogen — instead of the “grey” variety that’s made with fossil fuels, as part…

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Shahid Salim, who was appointed on January 1, 2020 as Managing Director of Oil and Gas Development Company (OGDCL) for three-year tenure, resigned here on Tuesday after just 21 months, raising eyebrows of many. “The Board of Directors of OGDCL that is to meet within days will accord formal approval to the resignation tendered by Shahid Salim,” top official sources told The News adding that surprisingly, in his place, the name of Anas Farooq, who is deputy Chief Financial Officer, is being tipped as acting Managing Director of the OGDCL.…

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Oil and Gas Development Company (OGDC) has made a gas and condensate discovery in its exploratory efforts at Wali well 01 located in FR Lakki, Khyber-Pakhtunkhwa. “Wali 01 well was drilled on December 2, 2019 as an exploratory well and it was drilled down to the total depth of 4,727 metres into Kawagarh Formation,” the company said in a statement on Wednesday. “Earlier, successful testing was carried out in Kawagarh and Hungu Formation, which proved to be a gas and condensate discovery.” Now, Lockhart Limestone, the third prospective zone in…

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The National Electric Power Regulatory Authority (Nepra) on Wednesday firmed up about 97 paisa per unit additional monthly fuel cost to be recovered from consumers of K-Electric next month. However, it put on hold the final judgment for a couple of days to cross-examine some additional information they sought from the K-Electric. The additional fuel cost adjustment (FCA) is on account of higher cost of electricity consumed in the month of August. In a public hearing on a petition filed by K-Electric presided over by Chairman Nepra Tauseef H. Farooqui,…

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