Month: March 2020

Dublin, March 06, 2020 (GLOBE NEWSWIRE) — The “Onshore Oil & Gas Pipeline Market – Growth, Trends, and Forecast (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering. The global onshore oil and gas pipeline market is expected to register a CAGR of more than 5.7% during the forecast period of 2020-2025. According to International Energy Agency (IEA), demand for oil is expected…

Read More

Energy shares on Friday weighed heavy on the capital market as it tumbled tracking international stocks and oil rout after a recent spike in global coronavirus cases reignited scares the world economy was likely at the risk of a depression, dealers said. Pakistan Stock Exchange’s (PSX) benchmark KSE-100 shares index lost 2.95 percent or 1162.44 points to close at 38,219.67…

Read More

ISLAMABAD: The federal government on Thursday decided to scrap an ongoing process for offloading its stake in Oil and Gas Development Company (OGDC) in the stock market and instead would offer one-tenth of its shares to an international firm having sector expertise. The decision was taken during a meeting held at the Ministry of Privatisation, chaired by Privatisation Minister Mohammad Mian…

Read More

Calls for new pricing deals from buyers as US LNG production shut-ins are on the cards

Read More

LAHORE: The Lahore High Court (LHC) on Friday banned the use of polythene bags across the city. During the proceedings, LHC ordered the authorities concerned to implement the court orders and completely prohibit the use of polythene bags within two weeks. LHC’s Justice Shahid Karim ordered the relevant authorities to appraise the court about banning the use of plastic bottles by…

Read More

Brent also falls by about US$ 4 to US$ 46 per barrel.Oil Crashes on Reports that OPEC and Russia failed to Rollover existing supply cuts. Good development for Pakistan macros, as massive decline in Oil prices may lead to decline in energy imports, thereby helping reduce trade deficit; pass-on should lead to decline in inflation, as well as reduced energy…

Read More

ISLAMABAD: Prime Minister Imran Khan on Thursday ordered to devise an emergency programme to address the energy and petroleum sectors’ challenges and to ensure that the reformation process puts minimum burden on the common man. “The common man would not be made to bear the brunt of an inefficient and corrupt system, which has been enforced for years,” he remarked while…

Read More

KARACHI: The K-Electric Limited’s board has approved the incorporation of a private limited company to undertake renewable energy and other projects envisaging an investment of $3 billion in next four years, the power utility said in statement on Thursday. “The proposed company will be a wholly-owned subsidiary of K-Electric, subject to regulatory and other required approvals and completing required corporate…

Read More

ISLAMABAD: Government is mulling divestment of up to 10 percent of its stake in state-owned Oil and Gas development Company (OGDCL) and Pakistan Petroleum Limited (PPL), sources said. The decision was taken on Thursday during a meeting presided over by Minister for Privatisation Mohammed Mian Soomro. Senior officials of OGDCL, ministries of petroleum and privatisation agreed with the divestment proposal…

Read More

He was addressing a high-level meeting to review measures taken to improve the performance of state-owned enterprises (SOEs). PM Khan underscored the need for taking emergent measures to control the existing challenges in both the sectors. According to him, a massive awareness campaign among the general public should also be launched. He said the common man would not be made…

Read More