ISLAMABAD: The task force on gas-related issues is expected to address the delayed implementation of the amended Exploration and Production (E&P) Policy 2002 in a critical meeting today (Wednesday), chaired by Deputy Prime Minister Ishaq Dar. The amended policy, approved by the Council of Common Interests (CCI) on January 26, 2024, allows E&P companies to sell 35% of gas from…
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ISLAMABAD: Pakistan is set to re-profile $15.4 billion of debt tied to electricity projects under the China-Pakistan Economic Corridor (CPEC) during the upcoming visit of the Chinese Prime Minister later this month. A memorandum of understanding (MoU) regarding the debt restructuring is expected to be signed during the visit. The Government of Pakistan has proposed a 5-year extension in the…
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Scientists have developed an artificial plant that not only generates enough electricity to charge a smartphone but also purifies indoor air at a much more efficient rate than natural plants. A team from Binghamton University, New York, originally created this artificial plant for entertainment purposes by using five biological solar cells and photosynthetic bacteria. However, they soon realized its practical…
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Industrial demand fuels China’s dominance in global LNG market Japan’s LNG demand declines amid nuclear restarts and renewables expansionHIROSHIMA: China is projected to remain the world’s leading buyer of liquefied natural gas (LNG) in 2024 and 2025, driven by robust industrial demand, according to Keisuke Sadamori, a director at the International Energy Agency (IEA). After overtaking Japan last year as…
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Strategic shift in Dawood Lawrencepur’s renewable energy investments Reon Energy specializes in solar energy, storage, and electric vehicle solutionsKARACHI: Dawood Lawrencepur Limited (DLL) has announced the transfer of its entire shareholding in Reon Energy Limited (REL) to Juniper International FZ LLC. The transfer, involving 102.6 million shares representing 100% of REL’s capital, was completed on October 7, 2024, under a…
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Saudi delegation to visit Pakistan ahead of SCO meeting Agreements aim to bolster Pakistan-Saudi economic partnershipsISLAMABAD: Pakistan is set to sign agreements worth approximately $2 billion with a Saudi delegation visiting the country from October 9 to 11, Prime Minister Shehbaz Sharif announced on Tuesday. The delegation, led by Saudi Minister for Investment Khalid Bin Abdulaziz Al-Falih, will include representatives…
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PM Shehbaz assures enhanced security for Chinese nationals Finance minister highlights daily economic loss of Rs190 billion due to PTI-led unrest Vows to prevent repeat of 2014 when protests disrupted President Xi’s visitISLAMABAD: Chinese nationals killed in a terrorist attack near Karachi airport were actively engaged in renegotiations with Pakistan’s government regarding Independent Power Producers (IPPs), Finance Minister Muhammad Aurangzeb…
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According to the information agency “Dunyo”, Tukhtaev has already arrived in Islamabad to assume his duties. Prior to this appointment, Tukhtaev served as an advisor to the Minister of Foreign Affairs of Uzbekistan. His extensive experience also includes roles at the Institute for Strategic and Interregional Studies under the President of Uzbekistan, as well as within the Presidential Administration. Tukhtaev…
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SINGAPORE: Oil prices dropped by over $1 on Tuesday as traders took profits following a sharp rally driven by fears of escalating conflict in the Middle East. Brent crude fell $1.17, or 1.5%, to $79.76 per barrel, while US West Texas Intermediate (WTI) dropped $1.19, or 1.6%, to $75.95 per barrel around 0420 GMT. The market saw a 3% rise…
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ISLAMABAD: Pakistan and Chinese power companies are set to sign agreements on debt reprofiling and a moratorium on over $16 billion in payments during Chinese Premier Li Qiang’s upcoming visit, sources from the Private Power and Infrastructure Board (PPIB) have revealed. The agreements, involving nine power projects and one transmission line under the China-Pakistan Economic Corridor (CPEC), will aim to…
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