Malaysian national oil company (NOC) Petronas is adding three new liquefied natural gas (LNG) tankers to its global fleet. The ships will primarily be used to ship LNG from Canada. Petronas said yesterday that it has signed a Time Charter Party (TCP) for three newbuild 174,000 cubic metres LNG vessels with shipowner, Hyundai LNG Shipping (HLS). The deal with HLS…
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All around the globe today, there are over 4.6 billion people who use the Internet,1 and in the past 12 months alone, the total number of Internet users around the world rose by 319 million. This shows that an average of 875,000 new users is added each day. These staggering statistics point to the simple fact that the Internet is speedily…
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Pakistan’s performance in critical Sustainable Development Goals (SDGs) sectors including education, water and sanitation lags that of its emerging market peers and achieving its SDGs by 2030 would require nine percent of the GDP in additional financing each year, says the International Monetary Fund (IMF). The IMF in its latest report, “A Post-Pandemic Assessment of the Sustainable Development Goals” stated…
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As many as 14 Alternative Renewable Energy (ARE) projects with accumulative capacity of 670 MW would start commercial operation by December. Official sources told APP here on Thursday that these projects included mostly wind and solar based power projects. Sharing the details, they said that 50 MW each Lakeside Energy Pvt Ltd (Jhampir), Artistic Wind Power Pvt Ltd, Liberty Wind…
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This is a dire warning that the economic recovery from the Covid crisis is currently anything but sustainable for our climate… Unless governments around the world move rapidly to start cutting emissions, we are likely to face an even worse situation in 2022.’ – Fatih Birol, Executive Director, International Energy Agency (IEA) The world saw widespread lockdowns in 2020 due…
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KARACHI: Pakistan State Oil (PSO) net profit increased to Rs8.720 billion during the quarter ended March 31, 2021, translating into earnings per share (EPS) of Rs18.57, a bourse filing said on Thursday. The company had posted a loss of Rs3.426 billion with loss per share of Rs7.30 during the same quarter last fiscal. There was no announcement of cash back.…
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The price of petrol and diesel in Pakistan may increase from May 1, sources told Geo News on Friday. The price of petrol may increase by Rs5.75 per litre while the price of diesel may increase by Rs6 per litre, said sources. The Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to the Petroleum Division. In it, the recommended prices…
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Pakistan Petroleum Limited’s profit dipped 15% to Rs12 billion in the quarter ended March 31, 2021 on the back of a contraction in sales and fall in other income. According to a notice sent to the Pakistan Stock Exchange on Thursday, the oil and gas exploration and production firm had reported a profit of Rs14.1 billion in the same quarter…
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Pakistan’s weight is likely to remain around 0.02 percent in MSCI EM in the MSCI May 2021 Semi Annual Index Review, experts said. MSCI will be releasing the results of the MSCI May 2021 Semi-Annual Index Review on May 11, 2021. Announcement is expected to be made available shortly after 11pm Central European Summer Time (CEST), ie, 02am Pakistan Standard…
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The government has decided to merge the Alternative Energy Development Board (AEDB) and the Private Power and Infrastructure Board (PPIB) for ease of doing business in the power sector. As envisioned by the government under the ease of doing business initiative, work on the merger of AEDB into PPIB is in full swing for processing power projects of all technologies,…
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