Iranian authorities seem confident they could be able to sell as much as 2.3 million barrels per day (bpd) of oil in the next Iranian year that begins in March 2021, according to Iran’s budget bill. The bill, which has been recently submitted for discussion and approval at the Iranian Parliament, assumes that Iran will get revenues from the sale…
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China is looking to attract investments in shale gas developments by easing restrictions on foreign entities and subsidizing costs in a bid to boost its natural gas production while its demand continues to grow. China has shale gas reserves but the geology to extract those resources is challenging, so it is not clear if the incentives will attract major international…
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Saxo Bank projects silver will soar to a record $50 an ounce in 2021, powered by loose Federal Reserve monetary policy and a weak dollar, and turbocharged by surging demand for the white metal in the solar energy sector. According to the Saxo Bank report, the “usual suspects” will continue to power silver upward, referring to the extraordinary monetary policy we’ve seen in response…
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There is a very real danger that the coming winter months in Pakistan, and particularly in the north of the country, will be particularly cold ones with an insufficient supply of gas. This is chiefly because Pakistan LNG Limited failed to place tenders for gas supply in time to the international market. It is also now being forced to obtain…
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ISLAMABAD: Federal Minister for Industries and Production Hammad Azhar on Saturday underscored that the PTI government paid $10.4 billion on account of debt servicing of external public loans including principal payment of $8.5 billion and $1.9 billion in interest payments. The minister was responding to the reportage of the Annual Report on Foreign Economic Assistant (FEA) for FY19-20 which highlighted…
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ISLAMABAD: The circular debt of the Pakistan State Oil (PSO) has hit an alarming level as its receivables touched Rs318.9 billion. According to the PSO, the receivable against power sector is piling up to Rs196 billion. The receivable against the PIA and other government entities also recorded at Rs30 billion. Another Rs92.6 billion is receivable from the Sui Northern Gas…
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Prime Minister Imran Khan Saturday said Pakistan was committed to mitigate impact of climate change and vowed to produce 60 per cent clean energy through renewable resources by the year 2030, scrap its coal based power projects, and run 30 percent of its vehicles on electricity. I assure you that Pakistan will be doing its best to make its contribution…
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The Independent Power Producer (IPP), Hub Power Company Limited (Hubco) has entered into a Memorandum of Understanding (MoU) with Pakistan Defence Officers Housing Authority, Karachi (“DHA”) with respect to the revival of DHA Cogen Limited. The revival of DHA Cogen Limited will generate 84 MW of electric power for supplying to K-Electric and provide 3 million gallons per day of…
Read MoreQatar Petroleum’s newly formed trading unit participated in a buy tender by Pakistan LNG for the supply of liquefied natural gas (LNG) for the first time, industry sources said on Friday. Qatar Petroleum said in November that it had set up a trading unit, Qatar Petroleum Trading Company, which will be headquartered in Doha and aims to build a diversified…
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KARACHI: Remittances in to the country remained well above the $2 billion mark in November for the sixth consecutive month despite recording a slight increase compared to inflows in October. The data released by the State Bank of Pakistan on Friday showed remittances in November clocked in at $2.34bn, up 2.4 per cent month-on-month from October. However, the growth in…
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