The Petroleum Division, during the current fiscal year, would initiate a new project to compile the data of available minerals for facilitation of investors and future projects’ planning in the country. The two-year project, titled National Minerals Data Centre (NMDC), is a joint venture of Petroleum and Planning Divisions that would be carried out at a total cost of Rs…
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Spot prices for liquefied natural gas (LNG) in Asia fell this week as demand from end-users was hampered and suppliers offered more cargoes. The average LNG price for August delivery into Northeast Asia LNG-AS was estimated at about $12.55 per metric million British thermal units (mmBtu), down $1.45 from the previous week, trade sources said. The price for a cargo…
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The Petroleum Division has ‘technically’ completed 90 per cent work on dualization of the White Oil Pipeline (WOP), from Karachi to Mehmood Kot section, for smooth supply of petrol and diesel to Oil Marketing Companies (OMCs) and reducing reliance on the traditional mode of transportation through tankers. “Currently 90% project has been technically completed, while testing and commissioning is planned…
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The National Vocational and Technical Training Commission’s (NAVTTC) initiative for establishing job placement centres with dedicated resources is linking Pakistani skilled workforce with employers in both national and international job markets. In addition to this, 104 Job Placement and Vocational Counseling Centres (JP&VCCs) have been established across the country for the benefit of youth; NAVTTC Chairman Syed Javed Hassan said…
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BEIJING: China-Pakistan Economic Corridor (CPEC), as the signature project of the Belt and Road Initiative (BRI), has achieved remarkable results in the first phase of operation. While it enters into a new stage of high-quality development, the establishment of “five corridors” will be enhanced for building a closer China-Pakistan community of shared future, Ning Jizhe, deputy head of the National…
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A review of national energy resources shows that the future development and use of resources for power generation will be strongly influenced by the necessity to control environmental pollution. Currently, power generation capacity from all resources is 37,261MW, whereas the demand for electricity continues to grow fast. It is projected to have an installed cumulative power generation capacity of 79,449MW…
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Federal Minister for Planning, Development & Special Initiatives Asad Umar has emphasised that the state should own and operate selective enterprises to support economic growth, as the private sector has time and again failed to make necessary investment in potential sectors and played safe in Pakistan. Speaking at a webinar on ‘Role of the State in Economic Development’ organised by…
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Special Assistant to the Prime Minister (SAPM) on Petroleum and Power Tabish Gauhar Friday said the Pakistan Tehreek-i-Insaf (PTI) government had devised a multi-pronged strategy to reform the gas sector and meet the country’s energy needs in an efficient manner. “Our government is determined to reform the gas sector and for this purpose, we have devised a strategic workstream that…
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Just as natural gas has competed with coal as the prime fuel for electricity in the last decades, renewables are putting pressure on the blue, clean-burning source of energy. The competition is fierce and will likely get worse. Yet, it is still too early to discount gas. This was the message at the 36th International Gas Congress in Croatia, where…
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The Petroleum Division has taken another U-turn in the new draft of the LPG Policy 2021, as it proposed local LPG price of around $80 over the international price. This means that LPG importers will be able to charge $80 above CP price. Saudi Aramco sets its propane term contract price, which is then followed by Pakistan. Now, the Petroleum…
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