KARACHI: As a follow-up of Tuesday’s report in Aaj Shahzeb Khanzada Key Saath regarding loss of Rs122 billion to national kitty and misleading the prime minister which not only have led to severe fuel related crises but also created serious political problems for the prime minister, the SAPM, Nadeem Babar, in his Wednesday’s press conference not only failed to give…
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ISLAMABAD: With the winter season aggravating every day, the country is heading towards a severe gas crisis as 100pc state owned companies — Pakistan LNG Terminal Limited (PLTL) and Pakistan LNG Limited (PLL) have refused to finalize the Inter-User Agreement (IUA) making the private LNG imports impossible knowing the fact that the private sector alone can solve the gas crisis…
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The federal government has announced that it will have to hike the power and gas tariffs in the country in a phased manner in order to enable gas companies to recover their receivables in the next four to five years. “The previous [PML-N] government did not allow an increase in the gas tariff which resulted in an increase in the…
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Chinese company Chongqing Savvy built more than 13 small, mini and micro hydropower plants in Pakistan as of 2019. Out of this, seven have finished installation and trial run and started generating power in Gilgit. The remaining eight plants are being installed in Khyber-Pakhtunkhwa (K-P). These small, mini and micro hydropower plants have delivered tangible benefits for the well-being of…
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The new Special Assistant to Prime Minister (SAPM) on Power, Tabish Gauhar, has recently made public his roadmap for resolving the major issues of the country’s power sector. It’s a welcome step asit reflects his keen and objectivedesire towards handling these serious issues. His insight and grasp on these issues and his ideas to resolve them also come as a…
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An oil tanker was damaged in the Red Sea near Saudi Arabia after a mine exploded on Wednesday, the Associated Press reported, citing the tanker’s operator and a maritime security company. The MT Agrari oil tanker, managed by a Greek company and flying a Maltese flag, was damaged by a mine off the Saudi city of Shuqaiq near Yemen. “Their…
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Baker Hughes reported on Wednesday that the number of oil rigs in the United States rose by 10 to 241, resuming its climb after a one-week decline last week. The total number of active oil and gas rigs increased for the week by 10, with oil rigs increasing by 10 and gas rigs rising by 1. Miscellaneous rigs fell by…
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ISLAMABAD: Independent Power Producers (IPPs) Tuesday reportedly refused to accept federal government’s proposed payment of Rs400 billion in three years, terming it as violation of already signed Memorandum of Understandings (MoUs), well-informed sources told Business Recorder. The government’s team comprising Special Assistant to the Prime Minister on Power, Tabish Gohar, Federal Land Commission Chairman Babar Yaqoob Fateh Muhammad Secretary Power,…
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The Mari Petroleum Company Limited (MPCL) has entered into a joint venture arrangement with a number of companies to undertake potential mining projects in the Province of Balochistan. As per the company, MPCL has entered into an agreement with Y.B. Pakistan Limited, Arif Habib Equity (Private) Limited, Liberty Mills Limited, and Reliance Commodities (Private) Limited pertaining to a joint venture…
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A total of 37 percent of oil and gas companies in Canada resorted to permanent layoffs due to the pandemic-driven oil price and oil demand slump, a recent survey of energy labor market organization PetroLMI showed. The energy firms in Canada launched measures to reduce labor costs across their organizations, according to the survey of energy workers and executives carried…
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