While speaking at the 6th International Forum on Carbon Capture, Uses and, Sequestration, Jia YuanPei, a spokesperson for CHNG, noted that the international community, including Pakistan and China, has faced serious challenges due to the climate change resulting from carbon emissions from coal-fired power plants in recent years. However, Jia added, Sahiwal Coal Power Plant has joined the ranks of…
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The oil market continues to surprise, with WTI apparently firmly above $60, a level that could be equated with the pre-pandemic norm (as norm as any oil price can be, which admittedly isn’t very). Considering the global economy remains fragile with numerous areas still suffering badly from the pandemic, including Europe, source of 15% of world oil demand (in normal…
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COVID-19 restrictions together with unexpected weather events such as hurricanes and severe cold winters slashed the gas and LNG demand in China. In a poll Verdict conducted to analyse the biggest concerns for China’s gas and LNG sector in 2021, a majority 35% responded that slower growth of gas demand to be the biggest concern. While 25% of the respondents…
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The volume of investments in Azerbaijan’s oil and gas sector decreased by 6.2 percent in January-March 2021, the State Statistics Committee has reported. Investments in the non-oil and gas sector also declined by 32.2 percent in the reported period. Some AZN 2.3 billion ($1.3bn) was directed to fixed capital in the first quarter of the year, which is by 19.4…
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Pakistan has not yet made any formal request to the IMF for re-negotiating conditions of the IMF programme or extending the time-frame beyond September 2022 under the $6 billion Extended Fund Facility (EFF). The IMF’s Resident Chief in Pakistan, Teresa Daban Sanchez, stated this during a webinar organized by the Pakistan Institute of Development Economics here on Monday. The IMF…
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In a public hearing organised by Oil and Gas Regulatory Authority (Ogra) on petitions for grant of licences for construction and establishment of two LNG re-gasification terminals at Port Qasim Karachi, all the stakeholders have supported the issuance of licences and unanimously asked the authority to expedite the process of grant of licences to private investors. Oil and Gas Regulatory…
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ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 19th Apr, 2021 ) :Oil and Gas Regulatory Authority (OGRA) on Monday held a virtual public hearing on petitions seeking licences for construction and establishment of Liquefied Natural Gas (LNG) re-gasification terminals including all allied facilities at Port Qasim, Karachi. The hearing was conducted by OGRA chairman Masroor Khan via video-link…
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Mari Petroleum’s profit fell 17.95% to Rs6.96 billion in the quarter ended March 31, 2021 owing to exchange rate losses as Pakistani rupee appreciated by Rs7 against the US dollar in the third quarter of fiscal year 2020-21. According to a notice sent to the Pakistan Stock Exchange (PSX) on Monday, the oil exploration firm had reported a profit of…
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The government has decided to establish an appellate tribunal by amending the Oil and Gas Regulatory Authority (Ogra) Ordinance 2002 in order to give provinces representation in dealing with disputes in the oil and gas sector. The tribunal will comprise members from provinces, will work as a court and will have powers as vested in such a court under the…
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Report of the Inquiry Commission on Shortage of Petroleum Product in Pakistan
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