ISLAMABAD: The federal cabinet has approved the appointment of Rahat Kaunain as the new chairperson of the Competitive Commission of Pakistan (CCP). According to sources, the cabinet on Tuesday gave a go-ahead to the appointment of Rahat Kaunain Hassan, Mujtaba Ahmad Lodhi and Shumalia Lone as CCP members. It also okayed the Ministry of Finance’s proposal to appoint Kaunain as CCP…
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ISLAMABAD: The National Accountability Bureau (NAB) on Friday decided to launch an inquiry against Sindh Energy Minister Imtiaz Sheikh over illegal allotment of land. According to NAB sources, the provincial minister was involved in allotting 30 acres of land in Korangi, Karachi. The PPP leader with the help of Board of Revenue officials caused a loss of millions of rupees…
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Sindh Energy Minister Imtiaz Ahmed Shaikh has said that the Sindh government is ready to assume the control of three power supply companies of the province, namely the K-Electric (KE), the Hyderabad Electric Supply Company (Hesco), and the Sukkur Electric Power Company (Sepco), if the federal government “is unable to manage the institutions of the energy sector in the country”.…
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Oil & Gas Development Company Limited (OGDCL) as operator with (56.45% share), Pakistan Petroleum Limited (PPL) (28.55%) & Government Holdings (Private) Limited (GHPL) (15%) in joint venture of Mela Drilling & Production Lease (D&PL) Block has successfully tested, completed, injected development well Mela # 07 into production stream. The Mela well is located in district Kohat, Khyber Pakhtunkhwa. The gas…
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Libya’s oil production that has dropped sharply in recent months is set to nearly halve in the coming years thanks to an oil blockade that has been in force since January. Libya’s production has dropped from 1.186 million bpd last November to 796,000 bpd by January 2020, before slipping to 82,000 bpd in June, according to OPEC’s Monthly Oil Market…
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The Energy Information Administration raised its price outlook for Brent crude to $41 per barrel for the second half of 2020—this is $4 per barrel higher than the EIA’s forecast last month. In its Short-Term Energy Outlook (STEs expectation that global oil inventories will continue to decline in the second half of the year and throughout next year. “EIA expects…
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The American Petroleum Institute (API) estimated on Tuesday a build in crude oil inventories of 2.048 million barrels for the week ending July 3. Analysts had predicted an inventory draw of 3.114 million barrels. In the previous week, the API reported a major decrease in crude oil inventories of 8.156 million barrels, after analysts had predicted a much smaller build.…
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KARACHI: Pakistan has resumed spot buying of liquefied natural gas (LNG) from the international market after six-month pause as energy demand is ramping up with easing lockdown, it was learnt on Monday. State-run Pakistan LNG Limited (PLL) invited bids for supply of three LNG cargoes – 140,000 cubic meters each – to be delivered in August and September. PLL invited…
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Former Managing Director (MD) of Pakistan State Oil (PSO), Shahidul Islam has been declared an offender by the Accountability Court for his continuous absence in the LNG scam case that also involves former Prime Minister Shahid Khaqan Abbasi. According to details, the decision was taken after the NAB prosecutor apprised the court that the accused has left the country to…
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Dominion Energy, one of the nation’s largest utilities, in late June erected wind turbines off the Virginia coast — only the second such installation in the United States — as part of a big bet on renewable energy. The company is also planning to build new power plants that burn natural gas. Utilities around the country are promoting their growing…
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