When the pandemic hit last year, it destroyed oil and gas stocks. But their prices have gradually been climbing and 2021 looks to offer a more prosperous outlook for the sector. Many people see the death of oil as a welcome solution to combating climate change. But this is not a realistic view. We are hugely reliant on oil. Not…
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The federal government has released Rs 476.618 billion for various ongoing and new social sector uplift projects till date under its Public Sector Development Programme (PSDP) 2020-21. The released funds include Rs300.06 billion for federal ministries, Rs135.64 billion for corporations, Rs39.7 billion for special areas, and Rs1.2 billion for the Earthquake Reconstruction and Rehabilitation Authority (ERRA), according to the latest…
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KARACHI: Shell V-Power is the premium fuel offered by Shell Pakistan, it comes with technology that reduces engine dirt and friction. With over 100 years of experience in fuels research and development, Shell’s scientists are behind the creation of Shell V-Power with Dynaflex Technology. Shell V-Power has a formulation that has powerful cleaning agents to prevent engine dirt. The fuel…
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ISLAMABAD: At a time when the government is looking to end monopoly of state-run companies in the liquefied natural gas (LNG) market by allowing private sector to import LNG, Pakistan LNG Limited (PLL) has come up with a proposal for increase in its margins – a move which will put more burden on consumers. PLL is importing two contract cargoes of LNG…
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The Bureau of Ocean Energy Management (BOEM) has rescinded the Record of Decision for the oil and gas lease Gulf of Mexico planned for March, effectively canceling this auction as part of the Biden Administration’s review of new drilling activities on federal land and in offshore waters. The lease sale would have offered 78.2 million acres for a region-wide Gulf of Mexico lease in…
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India’s use of coal may have peaked in 2018, according to a new report by according to U.K.-based clean energy group Ember. That’s sooner than many experts have forecast. The share of the dirtiest fossil fuel in India’s power mix fell for the second year in a row in 2020, according to the report released on Tuesday, due to an economic slowdown in…
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Permian oil production has plunged by as much as one million barrels a day as the coldest weather in 30 years brings havoc to a region that seldom faces frigid Arctic blasts. Oil traders and company executives, speaking on condition of anonymity, lifted their estimate of supply losses in the region as the temperature in Midland, the capital of the…
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BAJAUR: The residents of Kamangra locality here on Monday took to streets against the authorities for allegedly awarding mining leases to influential people without their consent. The demonstration, held on main Khar-Peshawar Road in Nawagai, was attended by scores of people. Te protesters blocked the road to traffic for several hours. Holding placards inscribed with demands, the protesters chanted slogans…
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ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) has directed Karachi Electric (KE) to complete installation of 900 MW Bin Qasim Power Station (BQPS-III) in time to avoid load-shedding in the upcoming summer seasons. NEPRA Authority led by Chairman NEPRA, Tauseef H. Farooqi visited Karachi Electric (KE) Head Office and its under constriction 900 MW BQPS-III in order to check and…
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ISLAMABAD: The Federal Government is unlikely to appoint an expatriate Pakistani as Managing Director of National Transmission and Despatch Company (NTDC) against a salary of $ 15,000 (Rs 2.4 million) per month which, according to Board Negotiation Committee is too high compared to market trends, sources close to Power Minister told Business Recorder. Sharing the details, sources said, Board of…
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